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.
“These factors, coupled with the rising prevalence of degenerative spine diseases and advancements in complementary technologies, is propelling the market forward,” said Jennifer Ryan, GlobalData’s analyst covering medical devices.
The global MIS market is controlled by three large multinationals with strong brand name recognition: Medtronic plc, DePuy Synthes, and NuVasive Inc. Other top players include Stryker Corp., 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.
“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,: noted Ryan. “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,” Ryan concluded.
GlobalData is one of the world’s leading data and insights solution providers serving a growing client base, which is diversified across geography, size and industries. The company formed in early 2016 following the consolidation of a series of data and insights solution providers, including Kable, Current Analysis, Conlumino, MarketLine, Pharm Source, and ERC.