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Spine Surgery Demand Up as Prices Decline
Demand for solutions to chronic back pain is on the rise. The number of people with chronic back pain is increasing, regardless of the economic challenges of healthcare.
Consequently, the market for products in spine surgery continues to rise at remarkable rates, especially considering the pressure on procedure volumes and medical device prices. A growing population of active adults is demanding treatment options for spine-related conditions.
Demand for solutions to chronic back pain is on the rise. The number of people with chronic back pain is increasing, regardless of the economic challenges of healthcare.
Consequently, the market for products in spine surgery continues to rise at remarkable rates, especially considering the pressure on procedure volumes and medical device prices. A growing population of active adults is demanding treatment options for spine-related conditions.
This is illustrated clearly by looking at spine surgery device pricing trends, combined with procedure volume trends. The result is that many spine surgery device markets are exhibiting procedure volume vs. price trends as is shown below for balloon kyphoplasty:
Source: MedMarket Diligence, LLC; Report #M520.
The result is also that the global spine surgery device market is growing at an aggregate rate of nearly 7% annually through 2020, with select segments demonstrating even higher growth.
The global market for spine surgery devices is therefore expected to grow from just over $13 billion in 2011 to almost $24 billion in 2020.
Source: MedMarket Diligence, LLC; Report #M520.
