The number of spinal surgeries performed each year is increasing as a result of technological advancements, including major improvements of minimally invasive surgical techniques
Vancouver, BC (PRWEB) March 20, 2012
According to a new report by iData Research (http://www.idataresearch.net), the leading global authority in medical device market research, the U.S. bracing and support market was valued at over $2 billion in 2012 and will grow to reach almost $2.5 billion by 2018. Growth will be fueled by sales of spinal orthoses devices due to an aging population, growth in the number of spinal surgeries and a rising interest in conservative treatment options. The pain management market is also expected to grow quickly, in large part due to the increase in cold therapy sales.
“The number of spinal surgeries performed each year is increasing as a result of technological advancements, including major improvements of minimally invasive surgical techniques,” says Dr. Zamanian, CEO of iData. “In addition, sales of back braces are being used as an alternative to expensive and invasive spinal fusion surgery in some patients with instability. This will further fuel growth in this market.”
The report states that Aspen was the leading competitor in the spinal orthosis market due to its diverse product range, and strength in the prefabrication market. The company was followed closely by DJO and Spinal Technologies.
The pain management market, which consists of cold therapy devices and infusion pumps, also experienced rapid growth in 2011. This growth is expected to continue through 2018 due to strong sales of cold therapy devices, particularly powered devices because of their convenience and ease of use.
“The largest segment of the pain infusion pump market in 2011 was the single use ambulatory pump segment, which represented over 68% of the total market,” notes Dr. Zamanian. “Market growth will be driven by increased ASPs and unit sales in the ambulatory infusion pump segments due to new technological innovations that increase medication safety.”
The report states that CareFusion and Hospira were market leaders within the infusion pump segment, while DJO, Breg and Biomet battled for control of the cold therapy market.
For more information, register free on iData’s website at:
iData’s market report on the: “Markets for Orthopedic Bracing 2012” covers knee bracing and supports, ankle bracing and supports, spinal orthoses, back soft goods, upper extremity bracing and soft goods and pain management (including cold therapy and pain infusion pumps).
About iData Research
iData Research (http://www.idataresearch.net/idata/discoveridata.php) is an international market research and consulting group focused on providing market intelligence for medical device, dental and pharmaceutical companies. iData covers research in: orthopedic trauma, reconstruction, biomaterials, soft tissue, sports medicine, spine and more.