U.S. Minimally Invasive Spine Technology Market To Grow at Almost 6 Percent Annually Through 2023, Much Faster than the Traditional Open Spinal Implant Market

BURLINGTON, Mass., Nov. 6, 2014 /PRNewswire/ -- Decision Resources Group finds that the United States minimally invasive spine technology market will grow at approximately 6 percent annually through 2023, much faster than the traditional open spinal implant market. Factors such as the aging population, a growing number of procedures performed at ambulatory surgical centers (ASCs), an increasing number of insured patients as well as marketing efforts and product launches by manufacturers will stimulate procedure volume growth.

Other key findings from Decision Resources Group's coverage of the U.S. minimally invasive spine technology market:

• Adoption by ASCs: Minimally invasive spine procedures are, by nature, more suitable as outpatient procedures that can be performed in ASCs compared to more traditional open spinal implant procedures. ASCs, through their use of minimally invasive technologies, offer considerable advantages for patients, primarily faster recovery times. As a result, this will fuel minimally invasive spine technology market growth.
• Ongoing reimbursement challenges: Although the Affordable Care Act (ACA) will increase the size of the insured population, industry sources indicate that reimbursement for newly insured patients is often insufficient to cover the additional cost of premium-priced minimally invasive devices; instead, reimbursement aligns more closely with the costs associated with open spine procedures, limiting minimally invasive spine procedure volumes somewhat.
• Medicare spending cuts: Similarly, cuts to Medicare spending under the ACA will also negatively affect minimally invasive spine procedures because a significant number of these procedures are performed on the Medicare population. Because of the premium price of minimally invasive spine procedures, cuts to reimbursement will make traditional open spine procedures more attractive.

Comments from Decision Resources Group Senior Analyst Rene Azeez:

• "Despite reimbursement challenges, leading competitors such as NuVasive, Medtronic and DePuy Synthes are continuing to invest aggressively in new product launches, physician training and marketing campaigns to stimulate market growth. This signifies the importance of this segment compared to the much more stagnant traditional open spinal implant market. In particular, companies are focusing on the large minimally invasive spinal fusion space and the fast-growing facet fixation market."
• "There is also significant innovation happening in complementary markets to minimally invasive spine technologies that could have a positive impact in the long term. For example, there is growing interest in robotic guidance, which can increase the accuracy of minimally invasive spine procedures. Companies are also launching bone graft substitutes designed specifically for minimally invasive procedures."

Additional Resources:

• Rene Azeez has written a Medtech 360 report on this subject entitled US Markets for Minimally Invasive Spine Technologies 2015.

About Decision Resources Group
Decision Resources Group offers best-in-class, high-value information and insights on critical issues within the healthcare industry. Clients rely on this analysis and data to make informed decisions. Find out more at www.DecisionResourcesGroup.com.

All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.

For more information, contact:

Decision Resources Group
Christopher Comfort
781-993-2597
[email protected]

Logo - http://photos.prnewswire.com/prnh/20130103/MM36768LOGO

SOURCE Decision Resources Group

Related Links

http://www.decisionresourcesgroup.com