Technology

Spine Surgery Demand Up as Prices Decline

PatrickDriscoll
2 Min Read

Demand for solutions to chronic back pain is on the rise.  The number of people with chronic back pain is increasing, regardless of the economic challenges of healthcare.

Consequently, the market for products in spine surgery continues to rise at remarkable rates, especially considering the pressure on procedure volumes and medical device prices.  A growing population of active adults is demanding treatment options for spine-related conditions.

Demand for solutions to chronic back pain is on the rise.  The number of people with chronic back pain is increasing, regardless of the economic challenges of healthcare.

Consequently, the market for products in spine surgery continues to rise at remarkable rates, especially considering the pressure on procedure volumes and medical device prices.  A growing population of active adults is demanding treatment options for spine-related conditions.

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This is illustrated clearly by looking at spine surgery device pricing trends, combined with procedure volume trends. The result is that many spine surgery device markets are exhibiting procedure volume vs. price trends as is shown below for balloon kyphoplasty:

Source: MedMarket Diligence, LLC; Report #M520.

The result is also that the global spine surgery device market is growing at an aggregate rate of nearly 7% annually through 2020, with select segments demonstrating even higher growth.

The global market for spine surgery devices is therefore expected to grow from just over $13 billion in 2011 to almost $24 billion in 2020.

Source: MedMarket Diligence, LLC; Report #M520.

     

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By PatrickDriscoll
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I serve the interests of medical technology company decision-makers, venture-capitalists, and others with interests in medtech producing worldwide analyses of medical technology markets for my audience of mostly medical technology companies (but also rapidly growing audience of biotech, VC, and other healthcare decision-makers). I have a small staff and go to my industry insiders (or find new ones as needed) to produce detailed, reality-grounded analyses of current and potential markets and opportunities. I am principally interested in those core clinical applications served by medical devices, which are expanding to include biomaterials, drug-device hybrids and other non-device technologies either competing head-on with devices or being integrated with devices in product development. The effort and pain of making every analysis global in scope is rewarded by my audience's loyalty, since in the vast majority of cases they too have global scope in their businesses. Specialties: Business analysis through syndicated reports, and select custom engagements, on medical technology applications and markets in general/abdominal/thoracic surgery, interventional cardiology, cardiothoracic surgery, patient monitoring/management, wound management, cell therapy, tissue engineering, gene therapy, nanotechnology, and others.
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