The key players in the spinal implants and surgical device market focus on various strategies such as new product launches and product enhancements; mergers and acquisitions; geographic expansions; and partnerships, agreements, and collaborations in order to strengthen their global position in the spinal implants and surgical devices market.
New product launches and product enhancements was the key growth strategy adopted by a majority of the industry players to increase their share the spinal implants and surgical devices market. Companies such as Medtronic, plc (Ireland), NuVasive, Inc. (U.S.), Globus Medical, Inc. (U.S.), Alphatec Holdings, Inc. (U.S.), Orthofix International N.V. (Netherlands), K2M Group Holdings, Inc. (U.S.), RTI Surgical, Inc. (U.S.) majorly adopted this strategy. Apart from product launches and enhancements, a number of leading players adopted the strategy of partnerships, agreements, and collaborations to strengthen their sales and distribution networks, generate additional product demand, and strengthen their positions in the spinal implants and surgical device market.
As of 2015 Medtronic, plc (Ireland) held the leading position in the spinal implants and surgical device market, owing to its robust product portfolio of spinal surgery. The company focuses on product launches and product innovation as its key growth strategy to sustain its leadership position in the spinal implants and surgical devices market. In the past three years, the company launched a number of spinal implants and devices in the global market.
DePuy Synthes (U.S.) held the second position in the spinal implants and surgical devices market in 2015. The company’s dominance in the market can be mainly attributed to its strong geographic presence, extensive distribution network, and comprehensive product portfolio for spine surgery. The company primarily focuses on expanding its spine product portfolio in order to strengthen its footprint in the spinal implants and surgical devices market.
