Minimally invasive spine market will surpass $842 million by 2023 as technology swiftly develops: GlobalData

Minimally invasive spine market will surpass $842 million by 2023 as technology swiftly develops: GlobalData

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February 1, 2017 — The minimally invasive spine (MIS) surgery market, which covers 39 markets, will rise from $512.6 million in 2016 to just over $842 million, representing a compound annual growth rate of 7.4%, according to research and consulting firm GlobalData.

The company’s latest report states that this relatively strong growth will be driven by a global shift towards healthcare treatments performed in outpatient facilities, heightened surgeon interest in incorporating MIS surgical approaches in their practices, and a growing interest in surgical navigation and robotics technologies.

Jennifer Ryan, GlobalData’s Analyst covering Medical Devices, explains: “These factors, coupled with the rising prevalence of degenerative spine diseases and advancements in complementary technologies, is propelling the market forward.”

The global MIS market is controlled by three large multinationals with strong brand name recognition: Medtronic, DePuy, and NuVasive. Other top players include Stryker, Globus Medical, and Zimmer Biomet. These six market leaders boast strong overall spine portfolios and wide-ranging distribution networks, and most offer a full orthopedics platform beyond spine and biologics.

 

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