US Spinal Implant Market to Show Modest Growth to $5.5 Billion by 2016
TORONTO--(BUSINESS WIRE)--Sep 12, 2012--According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the United States spinal implant market will show modest growth, reaching a value of just over $5.5 billion by 2016. Smaller niche manufacturers have been seeking out untapped market segments in this otherwise heavily penetrated market.
In spite of the highly commoditized nature of the spinal implant market, companies that diversify their portfolios with innovatively designed spinal implants will be better positioned to increase market share. Examples of companies with innovative products include Spinal Elements, with the recent launch of its Lucent polyetheretherketone (PEEK) interbody device (IBD), with a plasma-sprayed titanium porous coating, and Zimmer Spine with its porous metal IBD, the Ardis Interbody System. The IBD segment is expected to grow faster than the overall market, from over $1.2 billion in 2011 to over $1.5 billion in 2016.
“Nonfusion technologies also represent an area with potential,” said MRG Analyst René Azeez. “This segment will grow rapidly, averaging almost 12 percent revenue growth per year through 2016. Admittedly, the current lack of long-term clinical data supporting the efficacies of these technologies will be a significant obstacle. Current trials are expected to provide clinical evidence that would support increasing adoption by surgeons.” There are a number of trials under way that should have significant effects on this market. For example, LDR Spine is expected to release favorable results in 2013 for a trial establishing the efficacy of their MOBI-C cervical artificial disc for two adjacent levels. The results of this and similar clinical trials are expected to encourage reimbursement for multi-level cervical artificial discs and also to increase the number of units per procedure. Facet arthroplasty device and nuclear disc prostheses will enter the market toward 2016, making the nonfusion technology segment more attractive to competitors.
Millennium Research Group’s US Markets for Spinal Implants 2012 report includes procedure, unit, average selling price and revenue information, along with market drivers and limiters and competitive landscape for spinal fusion implants and spinal nonfusion technologies sold in the United States.
About Millennium Research Group Millennium Research Group ( www.MRG.net ), a Decision Resources Group company ( www.DecisionResourcesGroup.com ), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources Group Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com.
All company, brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.CONTACT: Decision Resources Group Christopher Comfort, 781-993-2597 email@example.com or Millennium Research Group Alex Jablokow, 617-599-8613 firstname.lastname@example.org KEYWORD: UNITED STATES NORTH AMERICA MASSACHUSETTS INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY MEDICAL DEVICES RESEARCH MEDICAL SUPPLIES SCIENCE GENERAL HEALTH SOURCE: Millennium Research Group Copyright Business Wire 2012 PUB: 09/12/2012 08:00 AM/DISC: 09/12/2012 08:00 AM http://www.businesswire.com/news/home/20120912005219/