In the United States alone, there are over 50 interbody device companies all competing for market share. But who really are the top competitors within this growing market and how are they succeeding above the rest?
Despite COVID-19 headwinds, the interbody device market is prosperous as many companies have grown significantly and are experiencing success. As this market continues to flourish, navigating it can become challenging. Because of this, we have created a full picture of the industry and compiled a list of the top 5 companies within the U.S. interbody device industry based on units sold to assist you in making better strategic decisions.
Top Interbody Device Companies in the U.S. (by units sold)
- DePuy Synthes
- Globus Medical
1 – DePuy Synthes
DePuy Synthes is the leader in the U.S. interbody device market in terms of units sold. In 2018, DePuy Synthes was the fourth-leading competitor in the MIS interbody device market with its largest share in the MIPLIF/MITLIF segment based on revenue.
After decreasing their average selling price in the second quarter of 2020, they experienced growth despite the ongoing pressures of COVID-19. Our analysis indicates that DePuy Synthes has always performed well within the U.S. interbody device market. However, in order to keep their lead, they will need to maintain their competitive stance and sustain their innovative abilities.
2 – Medtronic
Medtronic is the second-leading competitor in the interbody device market when it comes to units sold but the leader when it comes to revenue. In 2018, Medtronic held the second-largest share in the total MIS interbody device market and the LLIF market with the leading share in the MIPLIF/MITLIF market in terms of revenue.
Based on our analysis, Medtronic has performed considerably well in the U.S. interbody device market. Financial reports of the third quarter of 2020 indicated that Medtronic was weathering the COVID-19 crisis and during this, they increased their average selling price which generated an increase in revenue and units sold.
3 – Globus Medical
The third-leading competitor in the U.S. interbody device market is Globus Medical. In 2018, Globus Medical was the third-leading competitor in the overall MIS interbody device market. Many of the product offerings within the company’s portfolio can be used in conjunction with each other, providing surgeons with full MIPLIF/MITLIF platforms.
Following a decline in revenue and units sold in the second quarter of 2020, Globus Medical eventually decreased its average selling price and was able to see growth again amid the COVID-19 pandemic.
4 – Stryker
Stryker has always had a steady presence within the interbody device market, achieving moderate growth and market shares. In 2018, Stryker was the fifth-leading competitor and in the same year, the company acquired K2M. This acquisition added a number of product lines, including ALUETIAN® Lateral Interbody System, allowing Stryker to increase their market shares.
Based on our analysis, Stryker decreased their average selling price when COVID-19 emerged and was able to achieve an increase in revenue and units sold continuing into the fourth quarter of 2020.
5 – Nuvasive
Nuvasive is the fifth strongest player in the U.S. interbody device market and is one of the top companies within the market. In 2018, Nuvasive was the leader in the total MIS interbody device market due to it’s a strong lead in the LLIF segment.
After drastically decreasing their average selling price, Nuvasive saw an increase in units and revenue despite the pressures of COVID-19 in 2020.
The U.S. interbody device market is expected to grow as the top companies continue to innovate and the smaller value-based companies increase their presence and popularity. The U.S. interbody device market experienced a considerable drop in the second quarter of 2020 due to COVID-19 but has since recovered into the third and fourth quarters.
iData Research was able to conduct a detailed analysis covering over 50 companies, their products and segments, to develop insights on prices, units sold, and market shares. The results of this analysis are available through our exclusive MedSKU solutions.