The spinal fusion market is well established today, but new technologies and healthcare trends could weaken its dominance in the future, according to a new Global Analysis and Market Forecasts report.
Here are five key trends to know about the spinal fusion market:
1. Spinal fusions have been performed since the early 1900s, but the procedures has evolved and been refined considerably over the years. Spinal fusions show clinical success among appropriately indicated patients in a variety of procedures, making spinal fusion one of the most frequently performed procedures in the United States, according to the report. The United States is the largest geographic market for spinal fusions today.
Spinal fusions increased 77 percent from 2002 to 2011, and the demand will continue to grow as the indications for fusion expand. "One of the primary reasons for this rapid growth is expansion in the indications which spinal fusion surgery is performed," according to a GlobalData report. "The original intent of spinal fusion was to treat severe scoliosis and spinal tuberculosis, but its indication profile has since increased significantly. Now there are 14 conditions for which the procedure is medically indicated, including degenerative disc disease and stenosis."
2. An immense aging population means more people with spinal disorders will seek treatment in the future. The aging population today desires to remain active for longer than in the past, further expanding the market for elective spine procedures that can return people to their daily activities. "The spinal fusion market is expected to remain strong over the forecast period," according to the report.
3. Despite the increasing demand for spinal fusion, access to care is not always easy. Public payers are becoming stricter on reimbursement documentation to eliminate medically unnecessary procedures, especially in the United States. Medicare now requires spine surgeons to document conservative efforts to alleviate symptoms prior to undergoing surgery.
GlobalData recently lowered its predicted compound annual growth rate for spinal fusions from 10 percent annually to 5 percent through 2020 due to changing reimbursement policies and surgeons reporting more denials than in the past.
4. New innovations from medical device companies are now cutting into the spinal fusion market. Non-fusion technologies seek to capitalize on the lack of motion associated with spinal fusions. Short-term studies show artificial disc replacement could be as good as fusion, and longer term studies are coming out now with evidence that may suggest disc replacement reduces the risk of adjacent segment disease when compared with spinal fusion.
Millennium Research Group reported in January 2014 the global market for spinal nonfusion will nearly triple in size through 2022. It is expected to surpass $1.6 billion, driven by the emerging Asia Pacific, Brazil, India and China markets. The emerging focus on biologic solutions and disc regeneration could become more prominent in the future as well.
5. In the immediate future, emerging economies will be a source of immense growth for the spinal fusion market. Healthcare spending in established markets such as the United States and United Kingdom is expected to slow due to economic pressure and healthcare reform implementation, according to a Deloitte report. On the other hand, certain established markets will have large compound annual growth rates as well, says Global Analysis and Market Forecasts.
The Asia Pacific spinal implant and bone growth substitute market is projected to reach $7 billion by 2022, according to a Decision Resources Group report. The growth will be especially keen in China where a rising income level will increase the patients' ability to pay for treatment and drive new expectations in quality of care. However, prices for spinal implants and bone graft substitutes are expected to drop in the Asia Pacific market even while demand and spending on them increases due to competition in the market, heavy government regulation and reimbursement cuts.
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