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

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.

Ryan continues: “There are also a number of small players contributing to the market, often focused exclusively on spine or MIS solutions. Recent years have seen a trend towards acquisitions of these small players and their innovative technologies by the top players for portfolio expansion without the need for a lengthy R&D timeline.

“In 2016, a shift towards complementary technology was also seen, as both Medtronic and Zimmer Biomet made moves in the MIS navigation and robotics spaces. In this way, small companies will be able to find opportunities in the MIS market as long as they can prove their product’s superiority and stay afloat long enough to secure notice from a large player.

“All players in the market will need to keep track of technical developments such as Medtronic and Mazor Robotics’ Mazor X spinal surgery system and Zimmer Biomet’s ROSA Spine system. Such technologies demonstrate the innovation aimed at the MIS space as companies seek to establish a lasting presence in this new frontier.”

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