As the spinal implant market grows in size, more competitors are entering the markets and broadening their portfolios with new products including motion preservation implants.
Vancouver, BC (PRWEB) June 16, 2015
According to a recently published report by iData Research (http://www.idataresearch.com), the motion preservation device market is the fastest growing segment within the U.S. spinal implant market. This increase is fueled by the rapid growth of new spine devices like cervical artificial discs (CAD) and lumbar artificial discs (LAD).
“As the spinal implant market grows in size, more competitors are entering the markets and broadening their portfolios with new products including motion preservation implants,” explains Dr. Kamran Zamanian, CEO of iData. “Artificial discs are becoming an alternative to procedures with poor patient outcomes, such as spinal fusion. This explains the increased demand for both cervical and lumbar discs.”
Artificial discs attempt to restore or maintain the natural motion of the human spine, while a fusion procedure limits motion almost entirely. When given the choice between a fusion and a motion preserving device, patients generally prefer motion preserving devices. Spinal fusion also increases the risk of a second fusion or revision surgery due to adjacent vertebral level complications.
These new improvements to CAD will allow the market to exhibit high growth. Additionally, insurance companies in the U.S. have begun coverage for cervical disc replacement procedures. The improved reimbursement policies will continue to facilitate growth in the CAD market. However, because of their increased popularity, CADs will ultimately begin to cannibalize a significant portion of the spinal fusion market over the forecast period.
The leading competitor in the market, DePuy Synthes holds nearly 50% market share in the US motion preservation market due to the company’s strength in the LAD and CAD markets. They are the only company with both a CAD and a LAD device on the US market. DePuy Synthes is currently the only company and the sole competitor in the US market with an approved LAD device. However, DePuy Synthes’ position will be challenged in the future with the emergence of many new competitors and products as well as second-generation devices, such as those from AxioMed and Spinal Kinetics.
Other notable competitors in the US motion preservation device market include Medtronic, LDR, Globus Medical, Paradigm Spine, and NuVasive among others.
For Further Information
More on the U.S. motion preservation device market can be found in the report published by iData entitled U.S. Market for Spinal Implants & Vertebral Compression Fractures. This report covers the U.S. and includes the following market segments: cervical fixation, thoracolumbar fixation, interbody devices, motion preservation devices, vertebral compression fractures, and spinal electrical stimulation.
The global series on the spinal implant and VCF markets covers the U.S., Australia, Japan, South Korea, China, Taiwan, and 15 countries in Europe. Full reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players’ success strategies in each market and segment.
Register online or email us at info(at)idataresearch(dot)net for a U.S. Market for Spinal Implants and VCF report brochure and synopsis.
About Procedure Tracker
Additional procedure number data is available from iData’s Procedure Tracker service, which allows subscribers to define and analyze procedure data segmented by country, region, hospital, surgery centre, and physician. A customizable dashboard sorts procedure data for further analysis and research.
About iData Research
iData Research (http://www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Spinal Implants and VCF, Spinal MIS, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large & Small Joints, Anesthesiology, Wound Management, Orthopedics, Cardiovascular, Ophthalmics, Endoscopy, Gynecology, Urology, and more.