U.S. Minimally Invasive Spine Technology Market Projected To Grow
According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, despite some significant downward pressures, the United States market for minimally invasive (MI) spine technologies will grow strongly, reaching nearly $2 billion by 2017. Most of this growth will come from expansion of the largest segment, the minimally invasive spinal fusion market, but the less mature facet fixation segment will also experience significant revenue growth.
Some physicians, however, remain cautious because MI spine techniques require extensive training; a lack of familiarity can negatively affect outcomes as well as increase procedure time. In addition, some physicians also highlight a shortage of clinical data supporting both the short- and long-term efficacy of these procedures, which has led to a lack of reimbursement for some products.
A number of MI spinal fusion clinical trials currently ongoing may change the environment for MI spine technology. Favorable results in this study and others like it are expected to positively influence the volume of minimally invasive procedures involving spinal technologies.
"Facet fixation will be the fastest growing segment in this market,"said MRG Analyst Rene Azeez. "This growth is primarily because companies are increasing efforts to provide surgeons with training.
The relative simplicity and minimally invasive nature of the surgery, coupled with favorable reimbursement and mounting favorable clinical evidence all support its adoption. We'll see a number of innovative products introduced, such as VG Innovations' VerteLoc v 2.5, which claims to improve ease-of-use and facilitate enhanced patient outcomes."