Overall, the minimally invasive spinal implants market in Mexico is expected to reach an estimated $14.7 million by 2024.
Vancouver, BC -- (ReleaseWire) -- 11/03/2017 --According to a new series of reports on the Mexico market for minimally invasive spinal (MIS) implants by iData Research (www.idataresearch.com), the country 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.
Other market segments are also experiencing significant changes. The MIS interbody market is seeing a shift toward oblique lumbar interbody fusion (OLIF) and lateral lumbar interbody fusion (LLIF) devices and away from minimally invasive posterior lumbar interbody fusion (MIPLIF) and minimally invasive transforaminal lumbar interbody fusion (MITLIF) devices. 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 all segments.
"While smaller companies in the space are generally focusing on the private healthcare sector in Mexico, larger companies such as Zimmer Biomet have been able to establish relationships with the public sector as well," explains Jeffrey Wong, Strategic Analyst Manager at iData Research. "This gives them brand recognition and means that surgeons are familiar with the company when it comes to newer technologies."
Zimmer Biomet is the leading competitor in the Mexican minimally invasive spine market due to their leading share in the MIS pedicle screw and spinous process fixation segments. Zimmer Biomet's Aspen™ has been very successful and has gained considerable share since its introduction. The company has also benefitted from strong growth in Mexico due to effective use of third-party vendors. However, since the recent introduction of new products in the market, Zimmer Biomet's share of the total market has stabilized. Zimmer Biomet's market share will continue to be contested as more innovative competitor products enter the market.
DePuy Synthes is the second-largest overall market leader in the Mexican MIS spine market. The company holds the leading position in the MIS interbody segment and the relatively small facet fixation segment. Via its parent company, Johnson & Johnson, DePuy Synthes has also managed to establish stronger relationships with the public sector than some of its competitors.
Additional competitors in the Mexican minimally invasive spinal market include Medtronic, NuVasive, Globus Medical, Stryker and Ulrich Medical among others. The number of 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 Mexico can be found in a series of reports published by iData Research entitled the Mexico Market Report Suite for Minimally Invasive Spinal Implants 2018. The full report suite 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 implants covers the U.S., Mexico, Brazil, Argentina, Australia, Japan, South Korea, 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 and procedure data, register online or email us at firstname.lastname@example.org for a Mexico Market Report Suite for Minimally Invasive Spinal Implants 2018 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 Trauma, Large & Small Joints, Orthopedic Soft Tissue, Orthopedic Biomaterials, Orthopedic Soft Tissue Reinforcement and Regeneration, Wound Management, 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, Laparoscopy, Urology, Gynecology, Endoscopy, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Anesthesiology 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.