LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent interventional spine devices market in the US report. This research report also lists 20 other prominent vendors that are expected to impact the market during the forecast period.
The growing demand for MI procedures has driven the interventional spine devices market in the US owing to the increased need for rapid recovery, reduced hospital stays, and better patient outcomes. Such demand has driven the popularity for MI lumbar fusion and facet fixation procedures. The favorable reimbursement scenario in the market led to increased adoption of interventional spine devices. The presence of reforms such as Affordable Care Act in the US has resulted in the increased adoption of kyphoplasty and vertebroplasty devices.
“Manufacturers develop and introduce innovative products to provide and increase patient satisfaction. Key vendors adopt advanced technologies to enhance their product portfolio and decrease competition from new market entrants,” says Srinivas Sashidhar, a lead orthopedics and medical devices research analyst from Technavio.
Competitive vendor landscape
The interventional spine devices market in the US is competitive with the presence of large- (Tier-1), medium- (Tier-2) and small-sized companies (Tier-3) companies. The advances in technology and product enhancements will increase the competition among vendors. The advancement in technology and new product launches will increase the competition among the existing vendors during the forecast period.
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Top five interventional spine devices market vendors in the US
DePuy Synthes
DePuy Synthes focuses on the therapeutic areas of spinal care, orthopedics, sports medicine, and neurosciences. It offers products, services, programs, and R&D capabilities for the advancement of patient care, and adds clinical and economic value to healthcare systems. It operates as part of the Johnson & Johnson family of companies.
Key highlights: In March 2015, the company launched CONFIDENCE SPINAL CEMENT SYSTEM, which is used in vertebroplasty and kyphoplasty procedures.
Medtronic
Medtronic focuses on providing a broad range of therapies to restore health and extend lives through its technologies, products, and capabilities. It has significant growth opportunities in the emerging markets regarding market share and sales. It experienced 23% growth in the emerging market in FY2015.
