Interventional Spine Devices Market in the US 2017-2021
Overview of the interventional spine devices market in the US
Technavio’s market research analyst predicts the interventional spine devices market in the US to grow steadily at a CAGR of above 8% by 2021. One of the primary drivers for this market is the rise in the incidence of spine and bone disorders. The most common spinal disorders include spondylolisthesis, DDC, herniated discs, prolapsed intervertebral disc, and spinal stenosis. Also, osteoporosis can cause degenerative changes in the spinal discs including intervertebral discs and spinal facets that require surgical intervention. This bone disorder can increase bone porosity, fragility, and make bones weaker, making them susceptible to fractures. Interventional procedures help reduce pain, improve bone stability, and increase life expectancy. The growing incidences of spine and bone disorders will drive the adoption of interventional spine procedures during the forecast period.
One of the latest trends gaining traction in this market is the shift in physician preference for minimally invasive (MI) procedures. The advancements in spinal interventions has led to an increase in the number of clinical trials and launch of new products in the market. The demand for rapid recovery reduced hospital stays, and better patient outcome resulted in many medical facilities conducting spinal fusion surgery to repair the vertebrae and treat painful conditions of the spine. Moreover, owing to its increased ability to treat spinal disorders such as spinal tumors, there is a rise in demand for non-invasive procedures such as radiofrequency ablation. Rising adoption rate of MI interventional spine procedures, is expected to propel the market growth for the interventional device market over the next few years.
Competitive landscape and key vendors
The interventional spine devices market in the US is competitive with the presence of large, medium and small-sized companies. Manufacturers are constantly making efforts to develop and introduce innovative products to provide and increase patient satisfaction. Key vendors adopt advanced technologies to enhance their product portfolio and decrease competition from new market entrants. The advancement in technology and new product launches will increase the competition among the existing vendors in the coming years.
Leading vendors in the market are -
- DePuy Synthes
- Merit Medical Systems
- St. Jude Medical
Other prominent vendors in the interventional spine devices market in include Ascendx Spine, Cook, Crosstrees Medical, Exactech, Globus Medical, Integra LifeSciences, Interventional Spine & Diagnostics, joimax, K2M, NeuroTherm, NeuroWave Systems, Orthovita, Paradigm Spine, Quandary Medical, RS Medical, RTI Surgical, Stimwave, Vexim, Zavation, and Zimmer Biomet.
Segmentation by procedure and analysis of the interventional spine devices market in the US
- Radiofrequency ablation
During 2016, the kyphoplasty procedure segment was the fastest-growing segment in the interventional spine devices market. Balloon kyphoplasty is expected to gain quicker acceptance than vertebroplasty, as the technique offers treatment for osteoporotic fractures, osteolytic tumors, and traumatic vertebral fractures. Furthermore, in the US, the availability of reimbursements for kyphoplasty procedures is likely to increase the market growth rate for kyphoplasty procedures during the forecast period.
Segmentation by end-user and analysis of the interventional spine devices market in the US
Ambulatory surgical centers (ASCs) are healthcare facilities in which surgical procedures that do not require an overnight stay are performed. Such surgeries are usually less complicated. These centers have transformed the outpatient experience for millions of people in the US by providing convenient facilitates as alternatives to hospital-based outpatient procedures. Also, these centers are engaged in maintaining a strong record of accomplishment in terms of quality care and positive patient outcomes.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the interventional spine devices market in the US?
- What are the key market trends impacting the growth of the interventional spine devices market in the US?
- What are the challenges to market growth?
- Who are the key vendors in the interventional spine devices market in the US?
- What are the market opportunities and threats faced by the vendors in the interventional spine devices market in the US?
- Trending factors influencing the market shares in the US.
- What are the key outcomes of the five forces analysis of the interventional spine devices market in the US?
Technavio also offers customization on reports based on specific client requirement.
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Technavio, a global market research firm, has announced the launch of its latest market research report on the interventional spine market in the US for the forecast period of 2017 to 2021. This upcoming market research report takes into consideration the key trends and drivers affecting the market landscape for the orthopedics and general medical devices segment to estimate the market’s overall growth prospects. Furthermore, the research professionals have also observed that this industry is witnessing profound market advancements in terms of product novelties, which is likely to create numerous business opportunities, both globally and regionally, to impact the overall healthcare and life sciences industry’s growth. Our actionable market intelligence reports provide in-depth information on how major players like Stryker, Johnson & Johnson Zimmer, DePuy Synthes, Biomet, Medtronic, Smith & Nephew, and Arthrex are offering a range of diversified orthopedic devices such as pins, screws, and plates across the orthopedics and general medical devices segment.
Technavio’s market research analysts have focused on the regional outlook of the orthopedics and general medical devices sector, specific to the US, to offer an all-inclusive market analysis of growth prospects and latest developments for the interventional spine market in the US. Increasing incidences of osteoarthritis, osteoporosis, obesity, and the availability of minimally invasive surgical procedures are estimated to foster the growth of the interventional spine market in the US. With several general and orthopedic equipment manufacturers competing intensely to gain a considerable share of the market, the market landscape for this industry is envisaged to be quite competitive. To present a comprehensive overview of the US market for the interventional spine, analysts have studied the market size and forecast, segmentations, buying behavior of consumers, and vendor profiles.
Extensive industry analysis has also revealed that with the growing focus on reducing pain, restoring mobility, and enhancing the quality of life, the orthopedics and general medical devices industry has witnessed a considerable amount of growth over the past decade. To cater to the specific requirements of a wide range of clients, Technavio’s upcoming market research report takes into account the growth of other orthopedics and general medical devices markets like spine implants market in the US and lateral lumbar interbody fusion market in the US, which are predicted to grow at a CAGR of around 5% and 7%, respectively by 2020. The reports listed under this category also provide the latest trends in the prevalent orthopedics medical device industry, including spine biologics, lumbar spine fusion, spinal implants, and spinal cord stimulation devices. Our market research reports also give a detailed view of industry overviews, sales statistics and projections, and subsequent product innovations, and up-to-date analysis of the ongoing research activities.
This upcoming market report for the interventional spine market in the US also identifies the key drivers, emerging trends, as well as the challenges that the orthopedics and general medical devices industry is currently experiencing. It also presents insights into the changing competitive landscape to give you a realistic picture of the future direction of the overall healthcare and life sciences sector.