Spinal Fusion - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017

Sept. 9, 2011 - PRLog -- The global spinal fusion devices market is forecast to increase from $6.1 billion in 2010 to $11.7 billion by 2017 at a compound annual growth rate (CAGR) of 10%. The increasing number of spinal fusion procedures is the major factor expected to drive the growth in the global spinal fusion devices market. An increasing elderly population, the development of minimally invasive surgery techniques and relatively un-penetrated emerging markets are also expected to drive future market growth. Market growth can be further attributed to the increasing popularity of emerging countries as medical tourism destinations, the increasing awareness of spinal fusion procedures, improved physician training and technological advances in treatment procedures.

The US accounted for 71% of the global spinal fusion devices market in 2010 valued at $4.4 billion, and is forecast to grow at a CAGR of 10% to reach $8.7 billion in 2017. The pedicle screw systems market valued $2.1 billion in 2010 will continue to record the largest segment growth, at a CAGR of 10%, to reach $4.2 billion by 2017. The demand for pedicle screw systems in the US is primarily driven by the increasing number of spinal fusion surgeries and the increasing acceptance of minimally invasive spinal fusion procedures due to technological improvements. Furthermore, the market is expected to be driven by the expansion in the elderly population, in particular in developed markets such as the US, Japan, Germany, Italy and France, a factor which raises the incidence rate of spinal disorders such as disc degeneration and spondylolisthesis.

Typically, if patients with spinal dysfunction report no improvement in lower back pain after conservative treatment or any other non-surgical treatments, only then will the patient be considered for spinal fusion surgery. In spinal fusion procedures, in particular lumbar spine fusion, posterior lumbar fusion is the most commonly performed procedure. Fusion rates are greater than 95% in spinal fusion procedures and are performed on more women (56%) than men (43%). The rise of minimally invasive surgery techniques and increasing surgeon acceptance is causing the number of spinal fusion procedures performed each year to increase. The reduced length of hospital stay is also encouraging patients to opt for less invasive spinal fusion surgeries.

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Medical tourism is expected to increase as healthcare costs in the US and other developed countries continue to rise. In addition, higher out-of-pocket expenses are prompting individuals to seek cost effective alternatives to surgical treatments such as spinal surgeries. Currently, emerging countries such as India and Brazil are gaining a reputation for being the most popular medical tourism destinations. Cost effectiveness, high quality care and better facilities without waiting periods make these countries an attractive medical tourism destination for foreign patients. At Joint Commission International (JCI) accredited Hospitals in India, the Department of Neurology and Spine Surgery offers the latest in craniotomy, Tran's sphenoid operations and treatments for brain and neck tumors and lesions. In India, savings on surgery in comparison to the US are equal to 80% even after adding travel costs, a hospital stay and other related expenses. In 2007, the number of medical tourists that visited India reached 550,000 and it has 10 JCI accredited hospitals. In Brazil, savings on surgery are 50 - 60%, and the country has 12 JCI accredited hospitals.

GlobalData’s new report, “Spinal Fusion - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017” provides key data, information and analysis on the global spinal fusion market. The report provides a market landscape, competitive landscape and information on the market trends of the spinal fusion market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings.

This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by Global Data’s team of industry experts.

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