The spinal implant market is expected to fall flat over the next few years despite the increase in the demographic that could benefit from spine surgery, according to a report from Millennium Research Group.
In 2010, the market saw a decrease of approximately 3 percent in the spinal implant market, which isn't expected to show any gains over the next five years. The primary causes for this lack of growth include cost-cutting measures by providers and downward pressure on reimbursements.
Currently, spinal fusions contribute to about 95 percent of total revenues in the spine implant market, and while procedure growth may continue through 2015, the selling prices of implants will most likely experience cuts. The lower prices will occur due to facility restraints on costs.
Devices for procedures such as the interspinous process decompression and pedicle screw-based dynamic stabilization systems have declined due to doubts on efficacy and regulatory pressures, but this area could experience growth from newer entrants into the market with new designs for less invasive techniques.
Additionally, growth is expected in nonfusion markets and the artificial disc market. Globus Medical, LDR Spine, NuVasive and SpinalMotion are poised to lead the pack in cervical and lumbar artificial discs.
Read the report on the spine implant market.
Related Articles on Spine Devices:
Wenzel Spine Announces VariLift Expandable Interbody Fusion Device
Infuse Lawsuits Begin: Negative Coverage Could Cost Medtronic Millions
RSB Spine Reports 131% Sales Increase in 2Q 2011
Currently, spinal fusions contribute to about 95 percent of total revenues in the spine implant market, and while procedure growth may continue through 2015, the selling prices of implants will most likely experience cuts. The lower prices will occur due to facility restraints on costs.
Devices for procedures such as the interspinous process decompression and pedicle screw-based dynamic stabilization systems have declined due to doubts on efficacy and regulatory pressures, but this area could experience growth from newer entrants into the market with new designs for less invasive techniques.
Additionally, growth is expected in nonfusion markets and the artificial disc market. Globus Medical, LDR Spine, NuVasive and SpinalMotion are poised to lead the pack in cervical and lumbar artificial discs.
Read the report on the spine implant market.
Related Articles on Spine Devices:
Wenzel Spine Announces VariLift Expandable Interbody Fusion Device
Infuse Lawsuits Begin: Negative Coverage Could Cost Medtronic Millions
RSB Spine Reports 131% Sales Increase in 2Q 2011