November 30, 2018
WELLESLEY, Mass., Nov 30,2018 – Drivers of the spinal surgical devices market include increasing incidences of spinal disorders, higher rates of obesity, rising preference for minimally invasive spinal surgery, a growing geriatric population and technological advancements. A new BCC Research study projects that this competitive market will reach $13.3 billion by 2023.
Fusion and nonfusion spinal surgical devices aim to restore spinal stability compromised by injury, fracture, or deformity, or from surgical removal of all or a portion of spinal structures to provide pain relief through decompression of an impinged nerve. From $10.0 billion in 2018, a 5-year compound annual growth rate (CAGR) of 5.8% is projected, according to BCC Research’s newly updated report Spinal Surgical Devices: Technologies and Global Markets.
Fusion devices restore stability by promoting bone growth, whereas nonfusion devices utilize implants. Factors restricting market growth include reimbursement cuts, expensive treatment procedures, limited utilization of the spinal systems in surgeries and a stringent regulatory process for new product approval.
“Minimally invasive surgeries have garnered great attention as a means of improving patient recovery and reducing surgical costs associated with the treatment of spinal conditions,” the report notes. “Specialized tools and techniques are allowing traditional surgical approaches for both fusion and nonfusion procedures to be adapted to lessen invasiveness of treatment.”
Fusion vs. Nonfusion Devices: Market Status
Fusion devices remain the gold standard of care in spinal surgery. By a considerable margin, fusion devices represent the majority of device revenue, medical expenditure and volume of surgical procedures utilizing implanted devices. Nonfusion devices have gained a foothold in Europe and have emerged from investigational use into the commercial market space, globally.
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Spinal Surgical Devices: Technologies and Global Markets( HLC075B )
Publish Date: Nov 2018
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