Technavio Announces the Publication of its Research Report Global Anterior Cervical Fixation Devices Market 2016-2020
Technavio recognizes the following companies as the key players in the global anterior cervical fixation devices market: Globus Medical, Johnson & Johnson, Medtronic, NuVasive, Stryker, and Zimmer Biomet.
Other Prominent Vendors in the market are: Accel Spine, AESCULAP, Alliance Spine, Alphatec Spine, AMEDICA, Apollo Spine, ArthroCare, Ascendx Spine, A-Spine, Back 2 Basics Spine, Captiva Spine, Centinel Spine, Choice Spine, Core link surgical, Exactech, Integra LifeSciences, K2M, LDR Holding, Life Spine, NLT Spine, NuTech Medical, Orthofix Holdings, Paradigm Spine, Pioneer Surgical Technology Spinec, Precision Spine, Premia Spine, Reliance Medical Systems, RTI Surgical, SI-BONE, Spinal Elements, Spinal Solutions, Spine Smith Partners, Spine Surgical Innovations, Spine View, Spine Wave, Spineart, SpineGuard, Spineology, Titan Spine, TranS1, Wenzel Spine, X-spine, and Zyga Technology.
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Commenting on the report, an analyst from Technavios team said: One of the key trends for market growth will be increase in outsourcing activities by OEMs. Intense competition and the high price of raw materials are increasing the cost burden on OEMs. Also, they are under pressure from insurance companies, governments, and hospitals to keep the price of their products constant. To survive in this competitive environment, manufacturers have to adopt a strategy to minimize development cost and shorten product development time, with decreased time-to-market. Also, vendors try to reduce the cost of investment in facilities, labor, and equipment that tie up capital. Therefore, these manufacturers outsource implant production to small and medium-sized contract manufacturer vendors, especially in APAC. Outsourcing offers time-sensitive, low-cost, and high-quality products.
According to the report, one of the key drivers for market growth will be increased use of surface-modified titanium in fixation systems. Use of titanium to manufacture cervical implants has increased in the recent years. Spinal implants such as screws, plates, single-piece fixation systems, and bolts are being manufactured with titanium over stainless steel. A new class of titanium implants with nano-roughened (micron-level) surface modifications are being used to induce greater osteoblast differentiation of stem cells than PEEK. These implants are strong, lightweight, and allow for better computed tomography (CT) and MRI imaging after implantation with minimum interference. Also, titanium implants maintain a porous structure on the inner surfaces promoting the integration of bone for enhanced fusion and retroserrated toothing on the caudal and cranial surfaces of the implant, providing adequate primary stability. Hence, growing use of titanium in fixation systems will drive the growth of the anterior cervical fixation devices market.
Further, the report states that high cost of anterior cervical fixation surgery will be a challenge for the market. Spinal fusion surgeries are necessary to repair the vertebrae and treat painful conditions of the spine, but they are expensive. In the US, each spinal fusion surgery costs more than $34,500. The initial cost of spinal fusion surgery is based on the use of the type of products. The average cost of anterior cervical fixation surgery would cost about $44,500. In addition to this, patients have to bear indirect and direct costs associated with surgery such as admission fee, physician fee, and post-hospital rehabilitation expenses. Readmission for treating spinal fusion surgery-associated complications, such as pain at bone graft site, nerve injuries, and graft rejection, can further increase the expenses. Though these surgeries are expensive, people still undergo them, as they offer chances of rapid recovery. This leads to a minimal negative impact on market growth.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Anterior Cervical Fixation
Anterior cervical fixation is performed surgically to treat damaged/herniated discs that cause compression of spinal cord or nerve root. The surgery stabilizes the corresponding vertebrae, and the pain is decompressed by fixing the anterior fixation system with essential anterior plating, screws, and implants.
Technavios analysts forecast the global anterior cervical fixation devices market to grow at a CAGR of 1.54% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global anterior cervical fixation devices market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of anterior cervical fixation devices to hospitals and ambulatory surgical centers (ASCs).
The market is divided into the following segments based on geography:
Technavio’s report, Global Anterior Cervical Fixation Devices Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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