iData Research has conducted a thorough analysis on various positive and negative trends affecting the Minimally Invasive (MIS) Spinal Implants Markets in Mexico, Brazil, and Argentina. Though the three countries have exemplified similar characteristics in demographic features and trends, learning more in-depth about a country’s market can be advantageous for potential future investment opportunities.
WHAT ARE THE KEY GEOGRAPHIES IN THE MIS SPINAL IMPLANTS MARKETS FOR LATIN AMERICA, AND HOW ARE THEY DOING?
Brazil: There are numerous trends in Brazil driving the MIS spinal implants Market. One of such trends surrounds demographic factors. MIS fusion is growing within the fusion market; therefore, whatever drives growth of the total fusion market also drives the MIS fusion segment. This includes growth of the target patient demographic. By 2030, the number of persons aged 60 or over in Brazil will represent 18.6% of its total population. Both fusion and non-fusion procedures are typically performed in order to treat spinal complications that are much more common in elderly patients. Despite this, the complexity of the overall procedure and skills required to perform the procedures limit this market. Older generations of doctors and surgeons are especially reluctant to switch to MIS as it takes a considerable investment of time to master the procedure. Currently, the market share leaders are Zimmer Biomet, DePuy Synthes, and Medtronic. Zimmer Biomet was able to maintain leading positions in the MIS pedicle screw and spinous process fixation segments, as well as the second-leading position in the MIS interbody device market.
Argentina: Similar to Brazil, the market for MIS spinal implants in Argentina presents both limiting and driving factors. The first limiting factor is motion preservation. As more motion preservation devices, such as facet arthroplasty and nucleus replacement, emerge onto the Argentinian market, growth of the spinal fusion market will be increasingly limited by these devices. Although the MIS segment may continue to grow within the total fusion market, it will eventually be limited by the overall stagnation of fusion that is expected over the forecast period. However, on the positive side, trends involving the preferences towards minimally invasive surgeries have driven the MIS spinal implants market in the country. Competition in the Argentinian MIS spinal implants market is relatively similar to Brazil with DePuy Synthes leading, followed by Medtronic and Zimmer Biomet.
Mexico: In the Mexican MIS spinal implants market, growth is expected within many segments as patient demographics maintain a steady demand for such procedures. However, other segments have seen declines as a result of competing technologies and difficulties created by currency fluctuations. One major limiter for the MIS market is growth in motion preservation. Because MIS fusion is a segment within the total fusion market, factors that restrict the growth of the total spinal fusion market will likewise limit growth of the MIS fusion segment. On the positive side, one major driving factor is the increase in physician training. While there are many perceived benefits of minimally invasive techniques, the use of these new techniques requires physicians to be trained in the given approach. Within the MIS market, specific training is required to educate the physicians in performing each approach. With regards to competition and market share, Zimmer Biomet and DePuy Synthes are leading companies. Many smaller companies are present within the Mexican MIS implant market, however, they generally focus on the private healthcare sector whereas Zimmer and DePuy have been able to establish relationships within the public healthcare sector as well.
WHAT ARE SOME OF THE OVERALL TRENDS FOR THE MIS SPINAL IMPLANTS MARKET IN LATIN AMERICA?
Overall, the Brazil MIS spinal implants market was valued at $11 million in 2020, a 32% decrease from $16 million in 2019. This is expected to increase over the forecast period at a CAGR of 12.6% to reach $25 million. On the other hand, in 2020, Argentina’s market decreased in value by 35% from 2019, falling from $11 million to $7 million. Fortunately, the CAGR of this market is listed at 13.1%, where it is projected to reach $16 million by 2027. With regards to the overall market trends in Mexico, in 2020, the MIS spinal implants market value decreased by 33.2% from 2019, falling from nearly $10 million to $6 million; however, the value of this market is expected to increase at a CAGR of 15.4% to reach a market value of $17 million by 2027. In conclusion, Brazil has the highest projected, and current market value, followed by Mexico and Argentina.
The trends included in all three of the country level MedSuites, can benefit you with information about the factors contributing to the success of the MIS spinal implants, and the factors hindering its progress. By being aware of these challenges and opportunities, you can make better and more informed decisions, specifically regarding geographic expansion, investments in new products, and overall strategy.
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Find detailed information on market size/trends, market shares for the top competitors, forecasts, growth rates, procedure numbers, units sold, average selling prices, and MORE by visiting our spine page or through requesting a complimentary executive summary below.