Navigation Links
The Latin American Market for Spinal Implants and Bone Graft Substitutes Will Reach $530 Million by 2022
Date:9/3/2014

BURLINGTON, Mass., Sept. 3, 2014 /PRNewswire/ -- Decision Resources Group finds that the Latin American region will see rapid adoption of spinal implants and bone graft substitutes (BGS), as the market for these devices will reach $530 million in 2022. In addition to an aging population, the significant market for medical tourism in Latin America will drive strong uptake of these products. In an effort to cater to tourists, some facilities are purchasing high-end products, which will further support market expansion. In addition, more local manufacturers will enter the market through 2022 with low-cost products, enabling a greater portion of the Latin American population to access spinal implant and BGS procedures.

Other key findings from Decision Resources Group's coverage of the Latin American spinal implant and BGS market:

  • Prevalence of motor vehicle collisions: High motor vehicle accident rates in Latin America—and particularly in Colombia—will fuel procedures volumes. The prevalence of road congestion and the rising use of motorbikes will exacerbate this trend. Although some initiatives to reduce the frequency of collisions are being put into effect, motor vehicle accidents will remain a significant contributor to procedure volumes through 2022.
  • Success of cervical artificial discs: Cervical artificial discs will represent the largest and fastest-growing segment in the Latin American spinal nonfusion market through 2022. This can be attributed to their highly successful clinical outcomes and increasing surgeon confidence in these devices.
  • Importance of local knowledge: Local companies are present to varying degrees across all four countries. To compete with the local knowledge held by these companies, international players generally use distributors. This will be a particularly important strategy to access rural areas.

Comments from Decision Resources Group Analyst Hamza Sajjad:

  • "On a country level, Argentina's poor economic state will lead to a lower market value and slower growth rate than the other countries. Market growth will be further hindered by the presence of many low-cost manufacturers, which will place pressure on device prices."
  • "Brazil currently has the most stringent regulatory approval process, which will present challenges both for new entrants and existing competitors trying to launch new and novel devices."

Additional Resources:

About Decision Resources Group
Decision Resources Group offers best-in-class, high-value information and insights on critical issues within the healthcare industry. Clients rely on this analysis and data to make informed decisions. Find out more at www.DecisionResourcesGroup.com.

All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders.

For more information, contact:

Decision Resources Group
Christopher Comfort
781-993-2597
ccomfort@dresourcesgroup.com

Logo - http://photos.prnewswire.com/prnh/20130103/MM36768LOGO


'/>"/>

SOURCE Decision Resources Group
Copyright©2014 PR Newswire.
All rights reserved

Related biology technology :

1. Palatin Technologies, Inc. to Report Fiscal Year 2012 First Quarter Results; Teleconference and Webcast to be held on November 15, 2011
2. Palatin Technologies, Inc. Reports First Quarter Fiscal Year 2012 Results; Teleconference and Webcast to be held on November 15, 2011
3. Biocept and Academic Collaborators to Present Posters at San Antonio Breast Cancer Symposium on Circulating Tumor Cells (CTCs)
4. NKTR-102 Demonstrates Synergistic Anti-Tumor Activity in Combination with Pegylated Liposomal Doxorubicin in Platinum-Resistant Ovarian Cancer
5. Palatin Technologies to Present at Windhovers Therapeutic Area Partnerships Conference
6. Manipulating way bacteria talk could have practical applications, Texas A&M profs say
7. Relay race with single atoms: New ways of manipulating matter
8. Palatin Technologies, Inc. to Present at the 24th Annual ROTH OC Growth Stock Conference
9. First atomic-scale real-time movies of platinum nanocrystal growth in liquids
10. Palatin Technologies, Inc. To Report Fiscal Year 2012 Third Quarter Results; Teleconference and Webcast to be held on May 14, 2012
11. Palatin Technologies, Inc. Reports Third Quarter Fiscal Year 2012 Results; Teleconference and Webcast to be held on May 14, 2012
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... June 23, 2016 /PRNewswire/ - FACIT has announced ... biotechnology company, Propellon Therapeutics Inc. ("Propellon" ... commercialization of a portfolio of first-in-class WDR5 inhibitors ... such as WDR5 represent an exciting class of ... precision medicine for cancer patients. Substantial advances have ...
(Date:6/23/2016)... -- The Prostate Cancer Foundation (PCF) is pleased to announce 24 new ... prostate cancer. Members of the Class of 2016 were selected from a pool ... Read More About the Class of 2016 PCF Young Investigators ... ... ...
(Date:6/23/2016)... , ... June 23, 2016 , ... STACS DNA Inc., ... Leader at the Arkansas State Crime Laboratory, has joined STACS DNA as a Field ... DNA team,” said Jocelyn Tremblay, President and COO of STACS DNA. “In further expanding ...
(Date:6/23/2016)... LONDON , June 23, 2016 ... & Hematology Review, 2016;12(1):22-8 http://doi.org/10.17925/OHR.2016.12.01.22 ... Review , the peer-reviewed journal from touchONCOLOGY, ... the escalating cost of cancer care is placing ... a result of expensive biologic therapies. With the ...
Breaking Biology Technology:
(Date:4/26/2016)... April 27, 2016 Research ... Multi-modal Biometrics Market 2016-2020"  report to their offering.  ... The analysts forecast the global multimodal ... 15.49% during the period 2016-2020.  Multimodal ... sectors such as the healthcare, BFSI, transportation, automotive, ...
(Date:4/13/2016)... 13, 2016  IMPOWER physicians supporting Medicaid patients in ... new clinical standard in telehealth thanks to a new ... higi platform, IMPOWER patients can routinely track key health ... mass index, and, when they opt in, share them ... to a local retail location at no cost. By ...
(Date:3/22/2016)... 2016 According to ... for Consumer Industry by Type (Image, Motion, Pressure, ... & IT, Entertainment, Home Appliances, & Wearable ... 2022", published by MarketsandMarkets, the market for ... USD 26.76 Billion by 2022, at a ...
Breaking Biology News(10 mins):