Spinal Implants and Surgical Devices Market

New Product Launches Is the Key Growth Strategy Adopted by Leading Players in the Global Spinal Implants and Surgical Device Market

The key players in the spinal implants and surgical device market focus on various strategies such as new product launches and product enhancements; mergers and acquisitions; geographic expansions; and partnerships, agreements, and collaborations in order to strengthen their global position in the spinal implants and surgical devices market. New product launches and product enhancements was the key growth strategy adopted by a majority of the industry players to increase their share the spinal implants and surgical devices market. Companies such as Medtronic, plc (Ireland), NuVasive, Inc. (U.S.), Globus Medical, Inc. (U.S.), Alphatec Holdings, Inc. (U.S.), Orthofix International N.V. (Netherlands), K2M Group Holdings, Inc. (U.S.), RTI Surgical, Inc. (U.S.) majorly adopted this strategy. Apart from product launches and enhancements, a number of leading players adopted the strategy of partnerships, agreements, and collaborations to strengthen their sales and distribution networks, generate additional product demand, and strengthen their positions in the spinal implants and surgical device market.  

As of 2015 Medtronic, plc (Ireland) held the leading position in the spinal implants and surgical device market, owing to its robust product portfolio of spinal surgery. The company focuses on product launches and product innovation as its key growth strategy to sustain its leadership position in the spinal implants and surgical devices market. In the past three years, the company launched a number of spinal implants and devices in the global market. For example, in July 2016, the company launched the new Pivox Oblique Lateral Spinal System with Lateral Plate and Divergence-LTM Anterior/Oblique Lumbar Fusion System for OLIF25 and OLIF51 surgeries. In May 2015, the company launched its new standalone interbody cage, namely, DIVERGENCE and ZEVO anterior cervical plate system. Likewise, in October 2014, the company launched Pure Titanium Coated (PTC) interbody fusion devices for spine surgeries. Additionally, in order to ensure its future growth, the company focuses on spreading awareness and education regarding spinal treatments to propel the market demand for its spine surgery devices.  

DePuy Synthes (U.S.) held the second position in the spinal implants and surgical devices market in 2015. The company’s dominance in the market can be mainly attributed to its strong geographic presence, extensive distribution network, and comprehensive product portfolio for spine surgery. The company primarily focuses on expanding its spine product portfolio in order to strengthen its footprint in the spinal implants and surgical devices market. For this purpose, the company launched several new spine systems in recent years, including EXPEDIUM Osteotomy System (March 2015), ViviGen Cellular Bone Matrix (November 2014), CONFORM SHEET (January 2014), and SYNFLATE Vertebral Balloon (October 2013). Furthermore, the company focuses on entering into collaborations and partnerships to strengthen its spine product portfolio. For instance, in October 2013, DePuy Synthes extended its collaboration with Brainlab (a Germany-based developer of medical technology software) for the worldwide launch of navigation-ready instrumentation for DePuy Synthes’ leading spine systems (VIPER 2 and EXPEDIUM).

Related Reports:

Spinal Implants and Surgical Devices Market by Technology (Fusion, Fixation, VCF, Decompression, Motion Preservation), Product (Thoracic, Lumbar, Cervical, Interbody, Kyphoplasty, Artificial Discs, MIS, Biologics, Stimulators) - Global Forecast to 2021

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Report Code
MD 1173
RI Published ON
11/28/2016
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