The U.S. spine implants market is expected to grow at a compound annual growth rate of 5.29 percent between 2016 and 2020, according to a Research and Markets report.
Here are four observations:
1. Robotic technology is gaining traction in the industry, with a market penetration of about 35 percent in the United States.
2. Because of lifestyle changes an older population and more obesity cases, more people are suffering from spinal stenosis. This increased number of cases will boost market growth.
3. Additionally, the shift from invasive to minimally invasive procedures will also spur market growth.
4. Medtronic, DePuy Synthes, Stryker and NuVasive lead the market.