Millennium Research Group, an analyst firm specializing in the medical device market, has conducted a detailed analysis of the spinal implant market in its US Markets for Spinal Implants 2007 report and forecasts that the non-fusion segment of the US spinal implant market, currently valued at approximately $110 million, will record rapid growth over the next 5 years, reaching a value of over $1.3 billion by 2011. The US spinal implant market itself is valued at $3 billion. Non-fusion technologies such as dynamic stabilization have expanded rapidly in 2006 and the upcoming introduction of cervical discs will further accelerate growth in 2007 and beyond.
"St. Francis Medical Technologies' recent introduction of the X-STOP dynamic stabilization system, a minimally invasive treatment of spinal stenosis was well-received by both surgeons and payors," says Kevin Flewwelling, senior analyst at MRG. "A special add-on reimbursement payment announced in November 2006 now allows patients to be reimbursed for same day procedures. This recent announcement by CMS, in addition to the X-STOP's rapid growth, likely played a key role in Kyphon's decision to go after St. Francis Medical Technologies."
US Markets Spinal Implants 2007 is the latest report of MRG's ongoing coverage of the global spinal implant market. Besides non-fusion technologies, this report covers markets for traditional thoracolumbar implants, traditional cervical implants, and interbody devices. The US report is part of a global series that also includes Europe, Asia Pacific, and a number of emerging markets. Companies covered in this report series include Medtronic Spinal and Biologics, DePuy Spine, Synthes Spine, Stryker Spine, NuVasive, Abbott Spine, Blackstone Medical, Biomet Spine, Zimmer Spine, St. Francis Medical Technologies (soon to be Kyphon), Soloco Medical, Showa Medical, GS Medical Japan MDM, B.Braun/Aesculap, Scient'X, MBA Grupo and Wright Cremascoli.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResources.com), is the global authority on medical technology market intelligence and a leading provider of strategic information to the health care sector. Focused solely on the medical device, pharmaceutical, and biotechnology industries, the company provides its clients with the benefits of its specialized industry expertise through published reports and customized consulting services.
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SOURCE: Millennium Research Group
CONTACT: Amy Krohn of Millennium Research Group, +1-416-364-7776 x101,