MediPoint: Spinal Fusion - Global Analysis and Market Forecasts - Product Image

MediPoint: Spinal Fusion - Global Analysis and Market Forecasts

  • ID: 2870447
  • Report
  • Region: Global
  • 102 pages
  • GlobalData
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FEATURED COMPANIES

  • Aesculap
  • Amedica Corporation
  • Globus Medical
  • Medtronic
  • Orthofix
  • Stryker
  • MORE
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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FEATURED COMPANIES

  • Aesculap
  • Amedica Corporation
  • Globus Medical
  • Medtronic
  • Orthofix
  • Stryker
  • MORE
1 Introduction
2 Overview
2.1 Related Reports
3 Industry Overview
3.1 Reimbursement Trends
3.2 Mergers & Acquisitions
4 Unmet Needs and Market Opportunity Analysis
4.1 Lack of Definitive Methods to Determine Fusion Performance
4.2 Technological Developments in the Use of Long Fusions
4.3 Research and Development into Fusion Enhancers
4.4 Develop Signature Minimally Invasive Technique
4.5 Develop a Device that Provides Real-Time Fusion Updates
5 Market Drivers and Barriers
5.1 Driver: Gold Standard for Treating Spinal Instability and Degenerative Conditions
5.2 Driver: Growth in the Spinal Stenosis Indication
5.3 Driver: Expandable Spinal Implants
5.4 Driver: Treatment for a Variety of Indications
5.5 Driver: Advances in Navigation Technology
5.6 Barrier: Incidence of Adjacent Segment Disease
5.7 Barrier: Increased Scrutiny over Spinal Fusion’s Necessity in the US
5.8 Barrier: Restricted Reimbursement from Private Payers
5.9 Barrier: Performance in Treating Axial Back Pain
6 Competitive Assessment
6.1 Company Market Share
6.1.1 Global
6.1.2 North America
6.1.3 Europe
6.1.4 APAC
6.1.5 South America
6.1.6 Middle East and Africa
6.2 Company Profiles
6.2.1 Aesculap
6.2.2 Alphatec Spine
6.2.3 Amedica Corporation
6.2.4 DePuy Synthes
6.2.5 Globus Medical
6.2.6 K2M
6.2.7 Medtronic
6.2.8 NuVasive
6.2.9 Orthofix
6.2.10 SeaSpine
6.2.11 Stryker
6.2.12 Zimmer Biomet
6.3 Pipeline Assessment
7 Market Outlook
7.1 Procedure Trends
7.1.1 North America
7.1.2 Europe
7.1.3 APAC
7.1.4 South America
7.1.5 Middle East and Africa
7.2 By Geography
7.2.1 Global
7.2.2 North America
7.2.3 Europe
7.2.4 APAC
7.2.5 South America
7.2.6 Middle East and Africa
8 Appendix
8.1 Bibliography
8.2 Abbreviations
8.3 Methodology
8.3.1 Overview
8.3.2 Coverage
8.3.3 Secondary Research
8.4 Forecasting Methodology
8.5 Primary Research Summary
8.5.1 Primary Research - Key Opinion Leader Interviews
8.5.2 Expert Panel Validation
8.6 About the Authors
8.6.1 Analysts
8.6.2 Global Head of Medical Devices
8.7 About MediPoint
8.8 About
8.9 Disclaimer

List of Tables

Table 1: Key Mergers, Acquisitions, and Partnerships in Global Spinal Fusion Market (2015-2016)
Table 2: Product Portfolio - Aesculap
Table 3: Product Portfolio - Alphatec Spine
Table 4: Product Portfolio - Amedica
Table 5: Product Portfolio - DePuy Synthes
Table 6: Product Portfolio - Globus Medical
Table 7: Product Portfolio - K2M
Table 8: Product Portfolio - Medtronic
Table 9: Product Portfolio - NuVasive
Table 10: Product Portfolio - Orthofix
Table 11: Product Portfolio - SeaSpine
Table 12: Product Portfolio - Stryker
Table 13: Product Portfolio - Zimmer Biomet
Table 14: Pipeline Assessment, 2016
Table 15: Adoption Trend for Spinal Implants for Spinal Fusion Procedures in Key Markets in North America, 2016
Table 16: Adoption Trend for Spinal Implants for Spinal Fusion Procedures in Key Markets in Europe, 2016
Table 17: Adoption Trend for Spinal Implants for Spinal Fusion Procedures in Key Markets in APAC, 2016
Table 18: Adoption Trend for Spinal Implants for Spinal Fusion Procedures in Key Markets in South America, 2016
Table 19: Global Spinal Fusion Sales ($m) Forecast, 2014-2023
Table 20: North America Spinal Fusion Sales ($m) Forecast, 2014-2023
Table 21: North America Spinal Fusion Sales ($m) Forecast, by Geography, 2014-2023
Table 22: Europe Spinal Fusion Sales ($m) Forecast, 2014-2023
Table 23: Europe Spinal Fusion Sales ($m) Forecast, by Geography, 2014-2023
Table 24: APAC Spinal Fusion Sales ($m) Forecast, 2014-2023
Table 25: APAC Spinal Fusion Sales ($m) Forecast, by Geography, 2014-2023
Table 26: South America Spinal Fusion Sales ($m) Forecast, 2014-2023
Table 27: South America Spinal Fusion Sales ($m) Forecast, by Geography, 2014-2023
Table 28: Middle East and Africa Spinal Fusion Sales ($m) Forecast, 2014-2023
Table 29: Middle East and Africa Spinal Fusion Sales ($m) Forecast, by Geography, 2014-2023

List of Figures

Figure 1: Global Spinal Fusion Market Share, 2016
Figure 2: North America Spinal Fusion Market Share, 2016
Figure 3: Europe Spinal Fusion Market Share, 2016
Figure 4: APAC Spinal Fusion Market Share, 2016
Figure 5: South America Spinal Fusion Market Share, 2016
Figure 6: Middle East and Africa Spinal Fusion Market Share, 2016
Figure 7: North America Spinal Fusion Procedure Volumes, by Anatomy, 2014-2023
Figure 8: North America Spinal Fusion Procedure Volumes, by Geography, 2014-2023
Figure 9: US Interbody Fusion Devices Adoption Trend, by Material, 2016
Figure 10: Europe Spinal Fusion Procedure Volumes, by Anatomy, 2014-2023
Figure 11: Europe Spinal Fusion Procedure Volumes, by Geography, 2014-2023
Figure 12: 5EU Interbody Fusion Devices Adoption Trend, by Material, 2016
Figure 13: APAC Spinal Fusion Procedure Volumes, by Anatomy, 2014-2023
Figure 14: APAC Spinal Fusion Procedure Volumes, by Geography, 2014-2023
Figure 15: APAC Interbody Fusion Devices Adoption Trend, by Material, 2016
Figure 16: South America Spinal Fusion Procedure Volumes, by Anatomy, 2014-2023
Figure 17: South America Spinal Fusion Procedure Volumes, by Geography, 2014-2023
Figure 18: Middle East and Africa Spinal Fusion Procedure Volumes, by Anatomy, 2014-2023
Figure 19: Middle East and Africa Spinal Fusion Procedure Volumes, by Geography, 2014-2023
Figure 20: Global Spinal Fusion Sales ($m) Forecast, 2014-2023
Figure 21: Global Spinal Fusion Market Revenue Distribution, by Geography, 2016 and 2023
Figure 22: North America Spinal Fusion Sales ($m) Forecast, 2014-2023
Figure 23: North America Spinal Fusion Market Revenue Distribution, by Geography, 2016
Figure 24: US Spinal Fusion Market Revenue Distribution, by Sub-segment, 2016
Figure 25: Europe Spinal Fusion Sales ($m) Forecast, 2014-2023
Figure 26: Europe Spinal Fusion Market Revenue Distribution, 2016
Figure 27: 5EU Spinal Fusion Market Revenue Distribution, by Sub-segment, 2016
Figure 28: APAC Spinal Fusion Sales ($m) Forecast, 2014-2023
Figure 29: APAC Spinal Fusion Market Revenue Distribution, 2016
Figure 30: Japan, China, and India’s Spinal Fusion Market Revenue Distribution, by Sub-segment, 2016
Figure 31: South America Spinal Fusion Sales ($m) Forecast, 2014-2023
Figure 32: South America Spinal Fusion Market Revenue Distribution, 2016
Figure 33: Middle East and Africa Spinal Fusion Sales ($m) Forecast, 2014-2023
Figure 34: Middle East and Africa Spinal Fusion Market Revenue Distribution, 2016
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FEATURED COMPANIES

  • Aesculap
  • Amedica Corporation
  • Globus Medical
  • Medtronic
  • Orthofix
  • Stryker
  • MORE
The authors estimates that the spinal fusion market in 2013 was valued at $4,775m across the 10 regions covered in this report, which include the United States (US), France, Germany, Italy, Spain, the United Kingdom (UK), Japan, Brazil, India and China. By the end of the forecast period in 2020, sales will have grown to $6,982m, with a Compound Annual Growth Rate (CAGR) of 5.58%.

Global Outlook

The authors forecasts that the United States will continue to occupy the majority of the global spinal fusion market through 2020. The country’s global market share will decline over the forecast from 71% in 2013 to 63% in 2020. It will also experience one of the lowest CAGRs over the forecast given how mature the market is in the country and newly enacted reimbursement hurdles from public health payers.

Like other medical device markets, emerging economies will be a source of large growth rates over the forecast period. For example, China will experience double digit growth rates through 2020 and this will increase its global market share from 5% in 2013 to 10% in 2020. Additionally, select established economies in the European Union will experience large growth rates over the forecast period including the United Kingdom and Italy. The primary reason for their growth is the increasing procedure volumes for spinal fusion surgeries owing to favorable reimbursement levels and patient’s willingness to undergo surgery with minimally invasive techniques.

Future Outlook

While the spinal fusion market is expected to see growth over the forecast period, there are several barriers that are dampening the intervention’s potential adoption levels. Most notably in the US, public payers are beginning to implement strict measures on reimbursement documentation in an effort to eliminate medically unnecessary procedures. For example, Medicare will now require spine surgeons to document prolonged periods of conservative treatment to alleviate the patient’s symptoms prior to undergoing surgery. Another market barrier is the emergence of a new class of medical device technologies that seek to capitalize on one of the persistent weaknesses of spinal fusions. Non-fusion technologies are designed to retain motion at the operated level and reduce stresses experienced by adjacent segments. This is meant to eliminate the progression of symptomatic adjacent segment disease, which still troubles spinal fusion’s effectiveness to this day.

However, despite these barriers the spinal fusion market will experience growth over the forecast. One of primary drivers is the well-known phenomenon of nearly every global economy having a larger proportion of a country’s age demographics shift toward the later years in life. This means that the potential patient population that could develop the conditions the procedure treats will increase. Another market driver is that minimally invasive techniques are being utilized during spinal fusion surgery to reduce the damage done to the patient while maintaining or improving surgeon visualization. Studies have found that these techniques result in faster return to work/play, better long-term patient function, and a decreased hospital stay. Minimally invasive techniques have appealed to spinal surgery candidates and have increased the patient population to include people that would have declined the operation given its invasiveness and risks.
Note: Product cover images may vary from those shown
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  • Aesculap
  • Alphatec Spine
  • Amedica Corporation
  • DePuy Synthes
  • Globus Medical
  • K2M
  • Medtronic
  • NuVasive
  • Orthofix
  • SeaSpine
  • Stryker
  • Zimmer Biomet
Note: Product cover images may vary from those shown
6 of 6
Note: Product cover images may vary from those shown
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