Top 5 Global Spinal Implant Companies Maintaining Position but Competition Rising Rapidly Global Spinal Implant Market to Surpass $7.5 Billion in 2013, according to Millennium Research Group
WALTHAM, Mass., Dec. 8 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the global spinal implant market, including the US, Europe, and Asia Pacific, was valued at over $5 billion in 2008 and will grow to more than $7.5 billion in 2013. MRG's Global Competitor Insights for Spinal Implants 2009 report finds that despite some minor setbacks, the market's top five companies, who collectively owned nearly 78% of the global market in 2008, remain the overwhelming leaders in the market. Nevertheless, competition from smaller companies is intensifying.
While DePuy Spine, Medtronic Spinal and Biologics, Stryker Spine, Synthes Spine, and Zimmer Spine remain the leading market competitors, many smaller companies are gaining share. Though the top spine companies dominate the nonfusion segment, greater product availability and choice will change competitive dynamics in the industry in the coming years. Currently, spine surgeons have limited choices when opting for nonfusion devices, particularly in the US. For each category of nonfusion device, there are only a handful of different devices surgeons can choose from; cervical artificial discs have the most diverse product selection with three different products available in the US. The range of options will expand, however, as more entrants with improved devices as well as new technologies enter the spinal nonfusion market.
"Some of the soon-to-be-released artificial discs, such as Spinal Motion's Kineflex and Kineflex-C as well as Cervitech/NuVasive's PCM, possess innovative features that improve upon devices currently on the market," says Kevin Flewwelling, Manager of the Orthopedics division at MRG. "If a new device from a smaller competitor enters the market and is well-received by surgeons, it could result in very interesting competitive dynamics, possibly leading to a flurry of merger and acquisition activity."
MRG's new report, Global Competitor Insights for Spinal Implants 2009, serves as a tool for evaluating the performance of the top five companies in the global spinal implant market. Each chapter focuses on a leading competitor, and includes an examination of global spinal implant sales segmented by device and region. Each chapter also contains a detailed account of company history, recent events and strategies, as well as a critical discussion of each competitor's strengths, weaknesses, opportunities, and threats (SWOT analysis), including a comprehensive analysis of product portfolios, as well as an examination of major geographies of focus for each company.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResourcesInc.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack(TM) projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
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SOURCE Millennium Research Group