The rise in efficient minimally invasive surgery procedures and an increase in the elderly population has driven the market, despite low reimbursement coverage.
Vancouver, BC -- (ReleaseWire) -- 12/21/2017 --According to a new series of reports on the Argentina market for minimally invasive spinal (MIS) implants by iData Research (www.idataresearch.com), the number of people aged 60 or over will be 2.5 to 3.5 times larger than in 2000 in many Latin American countries by 2030. Barring unexpected major demographic change, for the next three to five decades the increase in this demographic population in the region will continue to grow rapidly. This demographic shift will in turn stimulate growth in both fusion and non-fusion spinal implant markets since these procedures are typically performed in order to treat spinal complications that are much more common in elderly patients.
The fastest growing segment in the Argentina MIS implant market is the MIS interbody device segment. Market growth is expected to increase as Argentina's currency stabilizes in relation to the U.S. dollar. This market will continue to be driven by the increasing familiarity of MIS procedures. However, reimbursement issues will not allow this market to reach its full potential unless policies are changed to account for the higher pricing compared to traditional interbody devices. Argentina imports minimally invasive devices, mostly from American and European manufacturers. However, the U.S. dollar has seen strong growth recently. As a result, it has been less profitable for companies to import MIS devices and this has stunted market growth.
"The MIS interbody market is transitioning toward oblique and lateral lumbar interbody fusion devices and away from minimally invasive posterior and transforaminal lumbar interbody devices," explains Jeffrey Wong, Strategic Analyst Manager at iData Research. "The oblique and lateral lumbar approaches are expected to see more growth than their posterior and transforaminal lumbar counterparts, although positive growth is expected across segments."
DePuy Synthes had the largest overall share in the Argentina MIS spine market. The company held the leading position across all MIS segments with the exception of spinous process fixation. Via its parent company, Johnson and Johnson, DePuy Synthes has also managed to establish stronger relationships with the public sector than some of its competitors.
Additional leading competitors in Argentina include Medtronic, Zimmer Biomet, NuVasive, Spineart and Globus Medical among others. The number companies present in the MIS segments is expected to grow as prices stabilize and the technology becomes more familiar.
For Further Information
More on the MIS implant market in Argentina can be found in a series of reports published by iData Research entitled the Argentina Market Report Suite for Minimally Invasive Spinal Implants. The full report suite on the Argentina market for minimally invasive spinal implants includes segments for MIS interbody devices, MIS pedicle screws, spinous process fixation, facet fixation, spine endoscope and MIS spine instrumentation.
The iData report series on MIS spinal implants covers the U.S., Brazil, Mexico, Argentina, South Korea, Japan, Australia, China, Taiwan and 15 countries in Europe including Germany, France, the United Kingdom (U.K.), Italy, Spain, Benelux (Belgium, Netherlands and Luxembourg), Scandinavia (Finland, Denmark, Sweden and Norway), Portugal, Austria and Switzerland. Reports provide a comprehensive analysis including units sold, market value, forecasts, as well as detailed competitive market shares and analysis of major players' success strategies in each market and segment. To find out more about MIS implant market data, register online or email us at email@example.com for an Argentina Market Report Suite for Minimally Invasive Spinal Implants brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting firm, dedicated to providing the best in business intelligence for the medical device industry. Our research empowers our clients by providing them with the necessary tools to achieve their goals and do it right the first time. iData covers research in: Spinal Implants and VCF, Spinal MIS, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large & Small Joints, Laparoscopy, Urology, Gynecology, Endoscopy, Dental Operatory Equipment, Dental Material, Dental Lasers, Dental Prosthetics, Dental CAD/CAM, Dental Bone Graft Substitutes, Ultrasound, X-Ray Imaging, Diagnostic Imaging, Oncology, Ophthalmics, Vascular Access, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Anesthesiology, Wound Management, Orthopedics and more.
We have built a reputation and earned our clients' trust based on consistent and uniquely intelligent research that allows our customers to make confident decisions and impact their businesses. A combination of market expertise and over a decade of experience has resulted in a deep understanding of the medical device industry that has inspired innovation and propelled our clients to success.