The global spinal and neurostimulation intervention products market is anticipated to hit $15.8 billion by 2021, up from $12.6 billion in 2016, according to a BCC Research analysis.
Here are six observations:
1. The market should grow at a compound annual growth rate of 4.5 percent throughout the five-year period.
2. The spine surgery segment accounts for the largest market share and will likely reach $10.8 billion by 2021, growing at a CAGR of 3.5 percent.
3. The neurostimulation devices segment will see the most rapid growth at a 6.9 percent CAGR, reaching $5 billion in 2021.
4. In 2015, spinal fusion products accounted for 72 percent of global spine sales volumes; while spinal surgery biologic products captured 17 percent; and total spinal disc replacement devices accounted for 3 percent.
5. Within the neurostimulation sphere, spinal cord stimulation products are dominating, accounting for the 50 percent of the market.
6. The United States leads the spinal intervention market, capturing a 71 percent share of spinal surgery products sales and 69 percent of neurostimulation products sales, in 2015.