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Global Spine Surgical Technologies Forecast 2011-2020
Spine surgery, like all medtech markets, is under immense pressure to rein in costs, yet unabated market drivers and innovation by manufacturers make spine surgery a continued strong market opportunity, according to a new MedMarket DIligence report.
"There is no more pervasive force in healthcare, with the possible exception of baby boomer impacts, than the pressure to rein in its costs, whether by price pressure, restricted procedure utilization or both," says Patrick Driscoll, President of MedMarket Diligence and publisher of the Worldwide Spine Surgery report. "Yet, in the face of such cost containment efforts, spine surgery continues to represent a medtech market with strong growth prospects, primarily due to demand for solutions to back pain and underlying spinal disorders as well as the ability of manufacturers to produce innovations that demonstrably improve patient outcomes."
Demand for spine surgery solutions to a wide variety of back problems is unquestionably sustained by an aging baby boomer population not content with being idle in their declining years. But spine surgery is also on the increase in younger (under 50) patients as a result of improvements in minimally invasive procedures that lower the bar in terms of how serious a spine condition must be as a prerequisite for patients to consider treatment. The drive to regain active lifestyles (or prolong them) is therefore behind growth at all ages.
The devices addressed in the MedMarket Diligence report are: posterior pedicle screw fusion systems, anterior cervical plate (ACP) systems, anterior lumbar interbody fusion (ALIF) devices, transforaminal interbody fusion (TLIF) devices, posterior lumbar interbody fusion (PLIF) devices, axial lumbar interbody fusion (AxiaLIF) devices and interspinous process spacers, cervical artificial discs, lumbar artificial discs, vertebroplasty, balloon kyphoplasty, allografts, demineralized bone matrix (DBM) and bone morphogenetic proteins (BMPs).
The regions and countries covered in the report are: the Americas (USA, Canada, Mexico and Brazil), the European Union (United Kingdom, Germany, France, Spain, Italy and Rest of Europe), Asia-Pacific (Japan, China, India and Australia/New Zealand) and Rest of World.
The compound annual growth rate for the entire market as defined in the MedMarket Diligence report, as defined with the products noted above, is forecast to be 6.96% for 2011-2020. It will be driven by solid growth in Posterior Pedicle Screw Fusion Systems and Cervical and Lumbar Artificial Discs, and modest growth in some sectors which are of significant size, including Balloon Kyphoplasty, Allografts and DBM.
The MedMarket Diligence Report #M520, "Worldwide Spine Surgery: Products, Technologies, Markets and Opportunities 2010-2020", described in detail at http://www.mediligence.com/
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MedMarket Diligence provides data and insight to the medical products, investment and other industries on advanced medical technologies through focused medical technology market and assessment Reports and the Medtech Startups Database.