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Interventional Spine Devices Market by Procedure and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR43079
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The interventional spine devices market share is expected to increase by USD 2.31 billion from 2021 to 2025, and the market's growth momentum will accelerate at a CAGR of 10.07%.

This interventional spine devices market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers interventional spine devices market segmentation by procedure (vertebroplasty, kyphoplasty, radiofrequency ablation, and others) and geography (North America, Europe, Asia, and ROW). The interventional spine devices market report also offers information on several market vendors, including Abbott Laboratories, Alphatec Holdings Inc., Globus Medical Inc., Integra Lifesciences Corp., Johnson & Johnson, Medtronic Plc, Nuvasive Inc., RTI Surgical Holdings Inc., Stryker Corp., and Zimmer Biomet Holdings Inc. among others.

What will the Interventional Spine Devices Market Size be During the Forecast Period?

Interventional Spine Devices Market Size

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Interventional Spine Devices Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increasing incidence of spine and bone disorders is notably driving the interventional spine devices market growth, although factors such as availability of alternate medication options may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the interventional spine devices industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Interventional Spine Devices Market Driver

One of the key factors driving growth in the interventional spine devices market is the favorable reimbursement scenario. A favorable reimbursement scenario will lead to increased adoption of interventional spine devices, which will, in turn, drive the market growth. Various reforms, such as the Affordable Care Act (Obamacare) in the US healthcare system, provide medical insurance coverage for more people. This has allowed patients with back pain to receive minimally invasive procedures, such as kyphoplasty, radiofrequency ablation, and vertebroplasty.  Major European countries like Germany, France, Austria, and Spain have also adopted techniques, such as kyphoplasty and vertebroplasty. For instance, Austria was the second European country to perform kyphoplasty procedures in 2002 and has witnessed higher adoption rates of interventional spine procedures. In Germany, the government established standard reimbursement policies for interventional spine surgical procedures. In Asia, the reimbursement coverage for interventional spine has improved significantly over the last few years. Countries such as Japan, Australia, and China have structured nationalizing policies for the minimally invasive interventional spine. The Japanese government has also started giving reimbursement coverage for procedures, such as kyphoplasty and vertebroplasty. For instance, Medtronic recently received approval for its Spinal & Biologics' balloon kyphoplasty system in Japan. The favorable reimbursement scenario, along with the increase in the elderly population, is expected to drive the adoption rates in Asia. Therefore, increasing reimbursements in key regions worldwide will drive market growth.

Key Interventional Spine Devices Market Trend

The emergence of radiofrequency-targeted vertebral augmentation is another key factor supporting the interventional spine devices market share growth. The market has been witnessing a trend toward the adoption of radiofrequency targeted vertebral augmentation, a novel percutaneous vertebral augmentation technique used to address some of the limitations of balloon kyphoplasty besides maintaining the benefits of the procedure. According to research studies, radiofrequency-targeted vertebral augmentation significantly reduces back pain severity, reduces pain medication requirements, and improves back function. Further, the remotely controlled cement delivery helps to reduce radiation exposure during vertebral augmentation procedures. As of 2014, the device has been used for the treatment of more than 15,000 spinal fractures worldwide. For instance, Merit Medical's StabiliT System combines a targeted approach and ultra-high viscosity cement for the treatment of pathological fractures and reduce extravasation in the vertebrae.

Key Interventional Spine Devices Market Challenge

The availability of alternate medication options is the major hindrance to the interventional spine devices market growth. Opioid analgesic drugs are the major alternative treatment options available for interventional spine procedures. These drugs have been used for a long time. Despite the devices being highly effective and safer than drugs, they are still less preferred. The reason for the low preference for devices is attributed to the low cost of drugs and their non-invasive nature. Also, the introduction of innovative drug delivery techniques and improved drugs in the pipeline provides strong competition to these devices. In addition, there is an increased demand for interventional pain therapies, such as non-narcotic treatments for chronic pain. According to research findings, the demand for epidurals increased by more than 120% between 2000 and 2008 and is still maintaining its double-digit growth. In Asia, alternative treatments like Ayurveda, yoga, and physiotherapy play a prominent role in chronic pain management. In recent years, many healthcare institutions have promoted these treatment methods as preventive measures. Thus, these factors hinder the growth of the global interventional spine market. Some of the injections which are in use to treat spine-related disorders include epidural steroid injections, facet joints injections, and trigger point injections.

This interventional spine devices market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global interventional spine devices market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the interventional spine devices market during the forecast period.

Who are the Major Interventional Spine Devices Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

  • Abbott Laboratories
  • Alphatec Holdings Inc.
  • Globus Medical Inc.
  • Integra LifeSciences Corp.
  • Johnson & Johnson
  • Medtronic Plc
  • Nuvasive Inc.
  • RTI Surgical Holdings Inc.
  • Stryker Corp.
  • Zimmer Biomet Holdings Inc.

This statistical study of the interventional spine devices market encompasses successful business strategies deployed by the key vendors. The interventional spine devices market is concentrated and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The interventional spine devices market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Interventional Spine Devices Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the interventional spine devices market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of global healthcare equipment market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Interventional Spine Devices Market?

Interventional Spine Devices Market Market segmentation by region

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47% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for interventional spine devices in North America. Market growth in this region will be slower than the growth of the market in other regions.

Interventional treatment options will facilitate the interventional spine devices market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Procedure Segments in the Interventional Spine Devices Market?

Interventional Spine Devices Market Segmentation

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The interventional spine devices market share growth by the vertebroplasty segment will be significant during the forecast period. The new techniques are excellent minimally invasive alternatives to conventional surgery.

This report provides an accurate prediction of the contribution of all the segments to the growth of the interventional spine devices market size and actionable market insights on post COVID-19 impact on each segment.

 

Interventional Spine Devices Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 10.07%

Market growth 2020-2024

$ 2.31 billion

Market structure

Concentrated

YoY growth (%)

8.80

Regional analysis

North America, Europe, Asia, and ROW

Performing market contribution

North America at 54%

Key consumer countries

US, UK, China, Germany, and Canada

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Abbott Laboratories, Alphatec Holdings Inc., Globus Medical Inc., Integra LifeSciences Corp., Johnson & Johnson, Medtronic Plc, Nuvasive Inc., RTI Surgical Holdings Inc., Stryker Corp., and Zimmer Biomet Holdings Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Interventional Spine Devices Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive interventional spine devices market growth during the next five years
  • Precise estimation of the interventional spine devices market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the interventional spine devices industry across North America, Europe, Asia, and ROW
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of interventional spine devices market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Healthcare Equipment

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Procedure

    • 5.1 Market segments
      • Exhibit 15: Procedure - Market share 2020-2025 (%)
    • 5.2 Comparison by Procedure
      • Exhibit 16: Comparison by Procedure
    • 5.3 Vertebroplasty - Market size and forecast 2020-2025
      • Exhibit 17: Vertebroplasty - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Vertebroplasty - Year-over-year growth 2020-2025 (%)
    • 5.4 Kyphoplasty - Market size and forecast 2020-2025
      • Exhibit 19: Kyphoplasty - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Kyphoplasty - Year-over-year growth 2020-2025 (%)
    • 5.5 Radiofrequency ablation - Market size and forecast 2020-2025
      • Exhibit 21: Radiofrequency ablation - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Radiofrequency ablation - Year-over-year growth 2020-2025 (%)
    • 5.6 Others - Market size and forecast 2020-2025
      • Exhibit 23: Others - Market size and forecast 2020-2025 ($ million)
      • Exhibit 24: Others - Year-over-year growth 2020-2025 (%)
    • 5.7 Market opportunity by Procedure
      • Exhibit 25: Market opportunity by Procedure

    6 Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 27: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 28: Geographic comparison
    • 7.3 North America - Market size and forecast 2020-2025
      • Exhibit 29: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 30: North America - Year-over-year growth 2020-2025 (%)
    • 7.4 Europe - Market size and forecast 2020-2025
      • Exhibit 31: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: Europe - Year-over-year growth 2020-2025 (%)
    • 7.5 Asia - Market size and forecast 2020-2025
      • Exhibit 33: Asia - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: Asia - Year-over-year growth 2020-2025 (%)
    • 7.6 ROW - Market size and forecast 2020-2025
      • Exhibit 35: ROW - Market size and forecast 2020-2025 ($ million)
      • Exhibit 36: ROW - Year-over-year growth 2020-2025 (%)
    • 7.7 Key leading countries
      • Exhibit 37: Key leading countries
    • 7.8 Market opportunity by geography
      • Exhibit 38: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 39: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Vendor landscape
          • Exhibit 40: Vendor landscape
        • 9.2 Landscape disruption
          • Exhibit 41: Landscape disruption
          • Exhibit 42: Industry risks
        • 9.3 Competitive Landscape

          10 Vendor Analysis

          • 10.1 Vendors covered
            • Exhibit 43: Vendors covered
          • 10.2 Market positioning of vendors
            • Exhibit 44: Market positioning of vendors
          • 10.3 Abbott Laboratories
            • 10.4 Alphatec Holdings Inc.
              • Exhibit 50: Alphatec Holdings Inc. - Overview
              • Exhibit 51: Alphatec Holdings Inc. - Business segments
              • Exhibit 52: Alphatec Holdings Inc. - Key offerings
              • Exhibit 53: Alphatec Holdings Inc. - Segment focus
            • 10.5 Choice spine LLC.
              • Exhibit 54: Choice spine LLC.  - Overview
              • Exhibit 55: Choice spine LLC.  - Product and service
              • Exhibit 56: Choice spine LLC.  - Key offerings
            • 10.6 Globus Medical Inc.
              • Exhibit 57: Globus Medical Inc. - Overview
              • Exhibit 58: Globus Medical Inc. - Business segments
              • Exhibit 59: Globus Medical Inc. - Key offerings
              • Exhibit 60: Globus Medical Inc. - Segment focus
            • 10.7 joimax GmbH
              • Exhibit 61: joimax GmbH - Overview
              • Exhibit 62: joimax GmbH - Product and service
              • Exhibit 63: joimax GmbH - Key offerings
            • 10.8 Nuvasive Inc.
              • Exhibit 64: Nuvasive Inc. - Overview
              • Exhibit 65: Nuvasive Inc. - Product and service
              • Exhibit 66: Nuvasive Inc – Key news
              • Exhibit 67: Nuvasive Inc. - Key offerings
            • 10.9 Safe Orthopaedics
              • Exhibit 68: Safe Orthopaedics - Overview
              • Exhibit 69: Safe Orthopaedics - Product and service
              • Exhibit 70: Safe Orthopaedics - Key offerings
            • 10.10 SeaSpine Holdings Corp.
              • Exhibit 71: SeaSpine Holdings Corp. - Overview
              • Exhibit 72: SeaSpine Holdings Corp. - Business segments
              • Exhibit 73: SeaSpine Holdings Corp. - Key offerings
              • Exhibit 74: SeaSpine Holdings Corp. - Segment focus
            • 10.11 Spinal Elements Inc.
              • Exhibit 75: Spinal Elements Inc. - Overview
              • Exhibit 76: Spinal Elements Inc. - Product and service
              • Exhibit 77: Spinal Elements Inc. - Key offerings
            • 10.12 Surgalign Holdings, Inc.
              • Exhibit 78: Surgalign Holdings, Inc. - Overview
              • Exhibit 79: Surgalign Holdings, Inc. - Product and service
              • Exhibit 80: Surgalign Holdings, Inc. – Key news
              • Exhibit 81: Surgalign Holdings, Inc. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Currency conversion rates for US$
                • Exhibit 82: Currency conversion rates for US$
              • 11.3 Research methodology
                • Exhibit 83: Research Methodology
                • Exhibit 84: Validation techniques employed for market sizing
                • Exhibit 85: Information sources
              • 11.4 List of abbreviations
                • Exhibit 86: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
              Interested in this report?
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              Interventional Spine Devices Market market growth will increase by $2.31 bn during 2020-2024.
              The interventional spine devices market market is expected to grow at a CAGR of 10.07% during 2020-2024.
              Technavio has segmented the interventional spine devices market market by other 1 (vertebroblasty, kyphoplasty, radiofrequency ablation, and others) ,geography (North America, Europe, Asia, and ROW) , and geographic (North America, Europe, and APAC).
              Abbott Laboratories, Alphatec Holdings Inc., Globus Medical Inc., Integra LifeSciences Corp., Johnson & Johnson, Medtronic Plc, Nuvasive Inc., RTI Surgical Holdings Inc., Stryker Corp., Zimmer Biomet Holdings Inc. are a few of the key vendors in the interventional spine devices market market.
              North America will register the highest growth rate of 54% among the other regions. Therefore, the interventional spine devices market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the interventional spine devices market market growth are:
              • Increasing incidence of spine and bone disorders
              • Focus on reducing risks of cement leakages
              The interventional spine devices market market vendors should focus on grabbing business opportunities from the vertebroblasty segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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              • Covid-19 impact and recovery analysis
              • Data on revenue-generating market segments
              • Details on the market shares of various regions
              • Five-force market analysis

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