Seasons Greetings from iData Research

2017 has been an exciting year in the medical device industry. Changes in reimbursement policies, the growing aging population, and new technology has driven many market segments. Here is a list of the most notable market shifts this year. If you are interested in learning about the following markets, please contact us at idataresearch.com.

The dental barrier membrane market represented the fastest growing segment within the dental biomaterials market. The expanding procedural volume is occurring in parallel to growth of dental implant procedures in the United States. The demand for dental implants is growing with the aging population, since elderly people tend to have more missing teeth than younger generations. Implantology has also become incorporated into the educational curriculum of GPs, further facilitating growth of procedures.

With digitization, the denture market is the fastest growing dental prosthetic market in the United States. The segment is largely carried by an aging population and growth of flexible partial dentures. Patients are continuing to opt for flexible partial dentures as a substitute for more expensive bridge work. Growth in the market is also increasingly being taken by corporate denture chains rather than dental laboratories.

Continuous glucose monitoring (CGM) represented the fastest growing segment in the total U.S. diabetes monitoring, treatment and drug delivery market. Growth of the segment can be attributed to the expanding installed base of CGM users, which experienced particularly high growth in 2015 and 2016.

The fastest part of the gastrointestinal device market is the anti-reflux segment as there is an immense gap between the number of people suffering from the condition and people who receives the effective treatment. As of 2016, 22 million people suffered from chronic gastroesophageal reflux disease (GERD), 12.1 million used medicine, which doesn’t work in a significant number of cases, only 32,500 underwent surgery and about 9.8 million went completely untreated. As more devices are entering this market, and reimbursement structure becomes more favorable, the market penetration is expected to rise significantly, resulting in the anti-reflux segment being the only part of this market with a double-digit growth rate.

Among the hearing device market segments, the hearing aid market was the fastest-growing in the United States. This was due to an increasing penetration of big box retailers such as Costco. Future growth will also continue to be fueled by larger purchases by Veterans Affairs (VA), an increase in the over-65 population growth rate and a change in hearing aid consumer attitudes caused by the aging baby boomer population.

The fastest growing segment in the U.S. neurological device market was for mechanical thrombectomy devices. This market involves two segments: snare retrievers and thrombectomy catheters. These innovative devices offer a longer period of time after symptom onset of ischemic stroke to treat patients and can offer drastically improved clinical outcomes over current treatments. As clinical evidence increases there should be steady growth in this market over the forecast period.

The shoulder labrum repair segment exhibited the highest amount of growth within the U.S. orthopedic soft tissue repair market. The shoulder labrum repair segment is growing due to the high prescription rate of this procedure since it is the go-to procedure for biceps and shoulder pain.
The fastest growing segment in the U.S. orthopedic small joint device market was the staple fixation market. The mechanical compression staple market is growing very little as the staple fixation market shifts towards shape memory staples, which provide greater fusion force and are becoming more popular with surgeons.

The fastest growing segment of the U.S. spinal implant market was that of motion preservation devices. This increase was driven by the rapid growth of the cervical artificial disc market. Growth in the motion preservation device market will be fueled by the release of a vast array of new devices in already established markets, most notably the cervical and lumbar artificial disc markets. Together, these emerging devices and segments will help maintain strong growth rates in the motion preservation device market.

The fastest growing segment in the U.S. minimally invasive spinal implant market was the spine endoscopy segment. This was the result of both endoscope and endoscope instrumentation sales. Spine endoscopes are visualization instruments that allow for an MIS approach to various procedures. By allowing direct visualization into the spinal canal, these endoscopes facilitate the investigation of nerve compression, inflammation, scarring or abnormalities in the spinal space. In recent years, technological advancements in digital imaging have led to the use of high definition (HD) cameras in conjunction with spine endoscopes.

The fastest growing part of the U.S. orthopedic trauma device market is the staple fixation segment. The main reasons for this strong growth are a relatively small size of this segment, increasing adoption of newer materials (i.e. nitinol), acquisitions of key products/technologies by larger competitors and the inherent advantages of using staple fixation for certain indications, such as reduced operating time when compared to screws.

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.