(PRWEB) March 1, 2006
The aging Canadian population will bolster the demand of spinal procedures over the next 5 years. According to a new report by Millennium Research Group (MRG), in 2005, the Canadian spinal implant market was valued at just under $24 million and will continue to grow at a compound annual growth rate of approximately 8% between 2006 and 2010. In particular, the adoption of nonfusion devices will gradually become more popular among both surgeons and patients. The recent introduction of transforaminal lumbar interbody fusion (TLIFs) devices, a more minimally invasive interbody device alternative, has attracted significant attention in recent years and has been readily adopted by Canadian surgeons.
The nonfusion implant market, which comprises artificial disc and dynamic stabilization devices, is the most dynamic segment within the Canadian spinal implant market. Growth in this segment will be driven by stronger marketing initiatives and educational efforts by large spinal implant manufacturers that will increase awareness of nonfusion technologies as a viable alternative to traditional spinal fusion. Specifically, the recent introduction of dynamic stabilization devices and the marketing of artificial discs will facilitate a strong penetration of nonfusion technologies over the forecast period.
MRG’s Canadian Markets for Spinal Implants 2006 report is part of the Global Markets for Spinal Implants series, which includes analysis on key industry competitors. The series covers many competitors including Zimmer (ZMH), Abbott Spine (ABT), Biomet (BMET), Biorthex, and Aesculap.
About Millennium Research Group
Millennium Research Group is a leading provider of strategic information to the health care sector. Focused solely on the medical device, pharmaceutical, and biotechnology industries, the company provides its clients with the benefits of its specialized industry expertise through published reports and customized consulting services. MRG was ranked among the top 25 fastest-growing companies in Canada in both 2004 and 2005 by Profit Magazine. Visit Millennium Research Group on the Web at http://www.mrg.net.
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