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According to a new series of reports by iData Research, the total Brazil market for spinal implants and vertebral compression fracture (VCF) was valued at just above $400 million USD in 2017 and is expected to reach over $530 million by 2024. The total market value includes a large number of segments, such as traditional cervical and thoracolumbar fixation devices, interbody devices, motion preservation devices, vertebral compression fracture (VCF) treatment and spinal instrumentation.
The Brazilian spine market is largely driven by emerging technologies, including innovative devices and new surgical techniques. Improvements to traditional implants, such as cervical or thoracolumbar fixation or interbody devices, will propel the market by justifying an increase in device cost for these newer technologies despite recent average selling price (ASP) declines within spinal implants overall. Therefore, growth in the total market exhibits strong correlation to the growth of fixation and interbody devices.
In 2017, the largest segment of the Brazilian spine market was the thoracolumbar fixation segment. This was partially due to the wide variety of procedural specializations found in thoracolumbar fixation, including degenerative, deformity, and trauma/tumor. Various clinical studies have found instrumented spinal fusion procedures to have success rates of up to 90%. In contrast, non-instrumented fusions that are solely based on the insertion of allograft or autograft material have historically yielded only a 60% fusion success rate.
“Such encouraging clinical data greatly favors the use of thoracolumbar fixation devices,” explains Jeffrey Wong, Analyst Director at iData Research. “Device unit sales are expected to see positive growth throughout the forecast period.”
Zimmer Biomet is the market leader of the total spinal market in Brazil. Before merging, Zimmer previously held a strong position in the spinal implant market and increased its market share after combining efforts with Biomet in 2015 to form Zimmer Biomet Holdings. The company also gained an extensive line of minimally invasive spinal (MIS) fusion products when it acquired Endius in 2007. Their main traditional product portfolio plays in the cervical fixation, thoracolumbar fixation and interbody device markets.
Following Zimmer Biomet, DePuy Synthes makes up the second-largest share of the Brazilian spine market. Although these are the two leading competitors in terms of individual market share, the collective market share held by local Brazilian companies surpasses that of Zimmer Biomet and DePuy Synthes. The nature of the public health system in Brazil encourages the participation of local companies that can provide devices at a lower price, as a result of improved margins, compared to foreign companies that typically incur higher costs for education, distribution and manufacturing.
For Further Market Information
More can be found in a series of reports published by iData Research entitled the Brazil Market Report Suite for Spinal Implants and VCF 2018 – MedSuite.
iData’s suite of reports on this subject cover the United States, Europe (15 countries), three countries in Latin America – Argentina, Brazil, and Mexico, and five countries in the Asia-Pacific – Australia, Japan, South Korea, China, and Taiwan. These include a comprehensive analysis on units sold, market values, average selling prices, forecasts, as well as detailed competitive market shares and analysis of all major players.
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About iData Research
iData Research (www.idataresearch.com) is an international consulting and market research 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.