The value of the minimally invasive spinal market decreased in 2020 because of the COVID-19 pandemic, but three companies still control the lion's share of the market, according to iData Research, a global consulting and market research firm.
Four notes:
1. The U.S. market for minimally invasive spinal implants is dominated by Medtronic, DePuy Synthes and NuVasive, according to iData Research.
2. In 2020, Medtronic was the leading competitor in the U.S. minimally invasive surgery market and the minimally invasive pedicle screw market, and held second position in the minimally invasive interbody device market, the report found.
3. The minimally invasive spinal implant market fell to $2 billion in 2020, a 6 percent decrease from 2019. The drop was attributed to strong headwinds from COVID-19 and a lack of trained physicians, according to iData Research.
4. By 2027, iData Research projects the minimally invasive spinal implant market to hit almost $3 billion. Market growth is expected to be driven by demographic factors, time efficiency and physician education.