Strong growth is expected in most segments of the Brazilian minimally invasive surgery spinal implant market as a result of the physiological and surgical advantages of MIS procedures over open procedures.
Vancouver, BC -- (ReleaseWire) -- 11/30/2017 --According to a new series of reports on the Brazil market for minimally invasive surgery (MIS) spinal implants by iData Research (www.idataresearch.com), Brazil imports MIS devices, mainly from American and European manufacturers. However, the U.S. dollar has seen strong growth recently, which has made it harder for local suppliers to import these products, which are more expensive compared to standard technologies. As a result, it has been less profitable for companies to import MIS devices and this has stunted market growth in the region. But prices have begun to stabilize and these trends are projected to reverse, stimulating growth across different MIS segments.
By 2030, in many Latin American countries, the number of people aged 60 or over will be 2.5 to 3.5 times larger than in 2000. 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. Since both fusion and non-fusion procedures are typically performed in order to treat spinal complications that are much more common in elderly patients. Therefore, the needs of this new patient pool will stimulate growth in both fusion and non-fusion spinal implant markets.
"A number of newer techniques use a lateral approach in order to reach the spine," explains Jeffrey Wong, Strategic Analyst Manager at iData Research. "In 2017, more than ten lateral lumbar interbody fusion (LLIF) systems were available on the Brazilian market, including NuVasive's popular eXtreme Lateral Interbody Fusion (XLIF®)."
Brazil's healthcare market includes both private and public sectors. Due to the more recent emergence of minimally invasive technologies and the slow response of reimbursement policies, most companies are focusing on the private sector. Smaller companies in this market space are generally focusing on the private healthcare sector in Brazil. Meanwhile, the leading competitor in the market, Zimmer Biomet, has been able to establish relationships with the public sector as well. This gives them brand recognition and means that surgeons are familiar with the company when it comes to newer technologies. The company has also benefitted from strong growth in Brazil due to effective use of third-party vendors.
Medtronic has the second-largest overall share in the Brazilian MIS spine market. The company has a strong presence in the relatively small facet fixation market, but gained most of its overall share from MIS pedicle screw devices. Additional competitors in Brazil include NuVasive, Globus Medical, Orthofix as well as a large number of smaller companies. The number companies present in the MIS segments is expected to grow as prices stabilize and the technology becomes more familiar among doctors in the region.
More on the MIS implant market in Brazil can be found in a series of reports published by iData Research entitled the Brazil Market Report Suite for Minimally Invasive Spinal Implants. The full report suite on the Brazilian 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 a Brazil 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.