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Press Release

Spine Implants Market in the US – Market Drivers and Forecasts, Reports Technavio

Technavio Research
Posted on: 07 Nov 16

Technavio analysts forecast the spine implants market in the USto grow at a CAGR of over 5% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the spine implants marketin the USfor 2016-2020. To calculate the market size, Technavio analysts considered revenue generated from the sales of spine implants.

The increase in the incidence of spinal disorders, such as DDDs and spinal stenosis, has contributed to the increased usage of spine implants. Almost all the age groups suffer from the back-pain problems and related disorders owing to the change in people's lifestyle and inadequate physical exercise. However, obese and older population are considered as two different groups contributing to the prevalence of spinal surgeries. Most of the hospitals are preferring the minimally invasive surgery (MIS) instead of the open back surgeries. There are a high number of patient inflow being witnessed in the ASCs due to the less invasive procedure and reduced hospital stay.

Request a sample report: http://www.technavio.com/request-a-sample?report=54077

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Technavio healthcare and life sciencesanalysts highlight the following three factors that are contributing to the growth of the spine implants market in the US:

  • Increasing prevalence of spinal disorders such as spinal stenosis
  • Outpatient spinal surgery for saving cost
  • Increased preference for MIS

Increasing prevalence of spinal disorders such as spinal stenosis

Spinal stenosis is the condition where the narrowing of space occurs in the spine, which increases pressure on the spinal cord and nerves. About 75% of the spinal stenosis cases were reported to occur in the lumbar spine region. There is a rise in the prevalence of this spinal disorder due to the changes in lifestyle, increasing older population, and rise in obesity cases in the country.

Srinivas Sashidhar, a lead orthopedics and medical devices analyst at Technavio, says, “The increasing older population is one of the common reasons for the rise in the spinal surgeries in the country. There were about 1.2 million people in the US with lumbar stenosis in 2015 and this number is likely to double by 2020. There are complex spinal surgeries carried out for the treatment of this particular spinal disorder.”

Outpatient spinal surgery for saving cost

The spinal fusion surgery procedures have become an outdated procedure as it involves blood loss and high post-operative cost. The conventional spinal procedures are being replaced by the MIS, which helps in improving the quality of life of the patient. These procedures are gaining popularity as they are safe and efficient, causing minimal blood loss, and provide speedy recovery. Most of the individuals prefer outpatient spinal surgery to reduce the post-operative stay in the hospital, thereby reducing the cost. These surgeries are conducted in the ASCs mostly, which are also known as ambulatory or same-day surgeries. The awareness about the benefits of MIS is driving the population toward these spinal surgeries.

The existence of ASCs in the US is a boon for the medical services providing better patient care at a relatively low cost. The number of Medicare-certified ASCs increased at a rate of 8% from 2009-2014. There is an increase in the patient pool at the ASCs, where the volume of spine surgeries was 46.7% in 2015. Medicare covers about 3,400 procedures under the ASCs payment system. The favorable reimbursement policies have helped in reducing the overall expenditure and increased the outpatient procedures in the ASCs.

Increased preference for MIS

The traditional spinal surgeries have become outdated due to the increasing awareness and advantages of MIS. The MIS involve the smaller incision compared with conventional spinal surgeries, which reduces blood loss during the surgery and reduces complications,” adds Srinivas.

MIS procedures have lesser risks involved as stated in most of the studies; however, it also depends on the skills of the surgeon. An open surgery takes around 3 hours and involves 400-500 mL of blood loss during the procedure, while the MIS procedure takes around 1.5 hours and involves around 40-50 mL of blood loss. The overall cost of MIS procedure is lesser than that of the invasive procedures. These surgeries can also be performed in the ASCs, reducing the cost of hospital stay and post-operative cost.

Top vendors:

  • Medtronic
  • DePuy Synthes
  • Stryker
  • NuVasive

Browse Related Reports:

Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact enquiry@technavio.com with your requirements and our analysts will be happy to create a customized report just for you.

About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20161107006482/en/

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Last updated on: 07/11/2016

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