|By PR Newswire||
|August 7, 2014 10:00 AM EDT||
BURLINGTON, Mass., Aug. 7, 2014 /PRNewswire/ -- Decision Resources Group finds that the United States spinal implant market will expand modestly through 2022 to reach a value of nearly $7.1 billion. Longstanding factors such as the aging population, rising rates of obesity and increasing adoption of nonfusion devices will be primary market drivers, although the market will continue to be shaped by changing regulations.
Other key findings from Decision Resources Group's coverage of the U.S. spinal implant market:
- Affordable Care Act: The Affordable Care Act (ACA) continues to influence the spinal implant market. Similar to what has been noted in other orthopedic device markets, spinal implant procedures experienced a spike in growth in the last quarter of 2013; as a result of uncertainty regarding the ACA, patients and physicians pulled forward procedures that would have been scheduled in 2014. The ACA will, however, ultimately have a positive impact on the spinal implant market due to a growing insured population.
- Minimally invasive procedures: As demand rises for minimally invasive spine procedures, a growing proportion of procedures will be able to be performed at ambulatory surgical centers (ASCs). For example, anterior cervical discectomies and fusions, which are less invasive than cervical procedures using the posterior approach, are likely to fuel spinal implant procedure uptake in ASCs.
- Stringent reimbursement: Receiving reimbursement for spinal implant procedures has become more difficult in the U.S. as insurers attempt to control costs. Because spinal implant procedures are expensive and insurers believe they are overperformed, they are requiring additional information for successful claims, especially for treatments for degenerative disc disease.
Comments from Decision Resources Group Analyst Rene Azeez:
- "Beyond the implementation of the ACA, there have been a number of fascinating events that speak to the current status of the spinal implant market. We are seeing a heavy focus on manufacturers developing technologies that will allow them to change their site of service or differentiate themselves in some way. Recent strategic investments into arenas such as expanding manufacturing capabilities or creating products with unique material composition illustrate the importance of innovation in today's marketplace."
- "Merger and acquisition activity in the spinal implant market, and the orthopedic market on the whole, is particularly evident. Partnerships and takeovers are rampant, partially owing to the lingering tough economic climate in the U.S., making consolidation among other factors attractive. The recent acquisition of Biomet by Zimmer exemplifies this trend."
- Rene Azeez has written a Medtech 360 report on this subject entitled US Markets for Spinal Implants 2014.
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.
Decision Resources Group
All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.
SOURCE Decision Resources Group
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