The company’s latest report states that key drivers of this relatively strong growth include the growing prevalence of degenerative spinal conditions due to aging populations and IPD’s advantages over traditional spinal fusion and laminectomy procedures, including motion preservation and a minimally invasive procedure with no bone removal.
“The market for IPD devices is growing as a result of the procedure’s minimally invasive nature, its potential to be performed in the outpatient setting, and the motion-preserving technology incorporated in each implant," explained Jennifer Ryan, healthcare analyst for GlobalData. “However, long-term clinical data is limited for IPD devices, and device failures coupled with reports of poor effectiveness have reduced physician enthusiasm for adoption. The high price of the devices, especially compared to the gold standard spinal fusion treatment, also poses an issue. Patients in developed nations are not always reimbursed for the use of the ‘investigational’ device and patients in developing economies rely on out-of-pocket payments, limiting patient access to the technology.”
In terms of key players, the IPD devices market is fairly consolidated, composed of a mix of orthopedic and spine conglomerates as well as small players with a sole focus on spinal non-fusion devices. Medtronic plc and Paradigm Spine are the principal players in the IPD market, with the X-STOP and Coflex implants, respectively.
“GlobalData believes drawbacks including sub-optimal long-term results for the X-STOP and the Coflex’s high cost leave the market open for others to capitalize on these concerns. The use of clinical trials focused on efficacy will be an important factor in future IPD adoption and reimbursement improvement,” Ryan said.
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