LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global lumbar spine fusion market report. This research report also lists 20 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the report, the global lumbar spine fusion market The competition in the global lumbar spine fusion market is intense, with the presence of many global and local players. The market entry of new companies will further increase the competition during the forecast period. To compete in the market and increase their shares, companies adopt various strategies such as implementation of an outsourcing strategy to save time in manufacturing of devices, which can be used to design and develop other types of spinal implants. The implementation of this strategy increases the dependence of companies on contract manufacturers that develop products or assemble associated components and deliver them to OEMs or the companies on time.
Intense competition among vendors in the global lumbar spine fusion market is hindering the growth of the market. This has resulted in an increase in price wars among vendors, thereby reducing the average selling price of spinal implants. “The pricing pressure on vendors will further increase due to the rising influence of group purchasing organization (GPOs). These organizations coordinate the sale of lumbar spine implants through bulk purchases negotiated in long-term contracts to obtain substantial discounts. Intense market competition has led vendors to operate on low-profit margins, which is likely to worsen further during the forecast period,” says Barath Palada, lead cardiovascular and metabolic disorders analyst from Technavio.
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Technavio healthcare and life sciences research analysts identify the following key vendors:
DePuy Synthes
DePuy Synthes operates as a subsidiary of Johnson & Johnson. The company designs, manufactures, and distributes orthopedic and neurological devices across the world. The company offers a range of fixation system, spacers, and bone grafts for this market.
The company offers products for internal and external fixation, develops and manufactures pain management and minimally invasive solutions including spinal-care solutions for traditional and minimally invasive spine surgery. It also provides implants and instruments for the treatment of shoulder reconstruction and biomaterials for the treatment of spine, and maxillofacial surgery. It serves healthcare providers worldwide.
Medtronic
It manufactures and markets device-based medical therapies worldwide. It also manufactures and trades image-guided surgery and intra-operative imaging systems, and offers web-based therapy management software solutions. Medtronic continuously strives to grow in the lumbar spine fusion market based on different strategic pillars which include multiple expansions of operations and development of product portfolio by developing new technologies.
NuVasive
NuVasive is a medical device company that manufactures, develops, and markets minimally disruptive surgical products and integrated solutions for the spinal cord. NuVasive continuously strives to grow in the lumbar spine fusion market based on different strategic pillars comprising of a strong presence in developed markets, acquisition, new product launches with the company launching many innovative spine products every year. These strategies will provide it with an opportunity to increase its market share in the highly dynamic global spine surgery market.
Stryker
Stryker is a medical technology company. The company's products include surgical equipment and surgical navigation systems; implants used in joint replacement and trauma surgeries; endoscopic and communications systems; neurosurgical, neurovascular, and spinal devices; patient handling and emergency medical equipment; and other medical devices that are used for various medical specialties. Stryker strives to grow in the lumbar spine fusion market by strengthening its R&D, focusing on product development and engaging in rapid expansion in international markets.
Zimmer Biomet
Zimmer designs, develops, manufactures, and markets orthopedic reconstructive, spinal and trauma devices, biologics, dental implants and related surgical products. Zimmer Biomet continuously strives to grow in the lumbar spine fusion market focusing on inorganic growth through acquisitions to increase its market presence globally. It also collaborates with players that complement its business operations. For instance, after the acquisition of LDR Holding, the company had the opportunity to capture market share in cross portfolio product segments of both LDR Holding and Zimmer Biomet.
Browse Related Reports:
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- Global Spinal Implants Market 2016-2020
- Global Anterior Cervical Fixation Devices Market 2016-2020
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