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MediPoint: Spinal Fusion - Global Analysis and Market Forecasts

  • December 2016
  • -
  • GlobalData
  • -
  • 102 pages

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MediPoint: Spinal Fusion - Global Analysis and Market Forecasts

Summary

Global market for spinal fusion, which includes spinal plating systems, interbody devices, vertebral body replacement devices, and pedicle screw systems (excluding minimally invasive spine devices), is set to rise from approximately $7.1 Billion in 2016 to just under $9 Billion by 2023, representing a compound annual growth rate of 3.4%. This states that relatively steady market growth, which covers 39 countries, will primarily be driven by the growing prevalence of degenerative spinal conditions due to aging, continued technological advancements in spinal fusion surgeries, such as expendable interbody cages and navigation systems, and the increased adoption of minimally invasive techniques.

Spinal fusion surgery is a well-established procedure that has been performed since the early 1900s. The procedure has benefited immensely from its long history of use, investments in advancing technologies, and its clinical success in a growing variety of spinal conditions. These traits have led spinal fusion surgery to become one of the most frequently performed surgeries in the US, which is undoubtedly, the largest geographic market for this procedure.

The US healthcare system has grown wary of the extensive growth of spinal fusion procedures, as data emerge indicating the number of medically unnecessary surgeries that are being performed. Medicare estimates that more than $200 Million was spent on improperly indicated spinal fusion procedures in 2011.

The opinion of Linda Tian, Managing Analyst covering Medical Devices, fusion surgery has been proven to provide better clinical outcomes for spondylolisthesis patients than conservative care alone or decompression surgery alone. The excellent performance of spinal fusion in these indications will continue to drive the procedure’s adoption.

Additionally, there are several conditions in which the fusion procedure has emerged as the gold standard for surgical intervention. In the instance of symptomatic degenerative disc disease within the cervical spine, anterior cervical discectomy and fusion is widely viewed as the hallmark procedure to be performed, given its persisting performance in large-scale studies with substantial follow-up.

Highlights

Key Questions Answered

- One of the major barriers affecting the spinal fusion market in the US is the increasing public payer scrutiny of the procedure being overused. How does this impact the market?
- Given the escalating healthcare financial burden, many countries have put measures in place to cap the reimbursement for spinal fusion implants. How will the global spinal fusion market evolve in the next five years?

Scope

- Competitive assessment: Currently marketed products and evolving competitive landscape
- In-depth analysis of practice patterns and adoption trends of different surgeries
- Insightful review of the key industry drivers, opportunities, restraints and challenges. Each trend is independently researched to provide qualitative analysis of its implications
- Other key topics covered include procedural trends, market access, reimbursement considerations, and implications for the overall market
- Market share analysis of the competition in different regions
- Annualized sales units and market revenues of each market segment from 2013-2022

Reasons to buy

The report will enable you to -
- Develop and design your in-licensing and out-licensing strategies through a review of pipeline products and technologies, and by identifying the companies with the most robust pipeline
- Develop business strategies by understanding the trends shaping and driving the global market
- Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the global market in the future
- Formulate effective sales and marketing strategies by understanding the competitive landscape and by analysing the performance of various competitors
- Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage
- Track device sales in the global market from 2014-2023
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships

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