Spinal Implants – Market Insights – Latin America

The COVID-19 pandemic has significantly impacted the Latin American spinal implant market because regional restrictions on elective procedures resulted in delays in degenerative and deformity spine procedures and declining unit sales. Resurging cases at the end of 2020 resulting in new restrictions have impacted procedures into 2021. Recovery of the market will depend on a number of factors, including the ability of facilities to return to prepandemic capacity and the pace of vaccine distribution in Latin America. Although the crisis has significantly impacted the market in the short-term, other factors will continue to drive market growth over the forecast period. In particular, spinal implant market expansion will be driven by the uptake of premium innovations such as 3-D printed implants, nonfusion technologies, and minimally invasive devices. Nonetheless, downward pricing pressure resulting from hospital budget constraints, procedure volumes shifting toward ASCs, and implant commoditization will limit overall market potential, even as favorable demographic trends support modest procedure volume growth.

This Medtech 360 Report provides comprehensive data and analysis on the state of the market for spinal implants in Latin America from 2019 through 2031.

The COVID-19 pandemic is having a significant impact on markets for devices used in elective procedures, including spinal implants.

How are procedure volumes in different segments of the market being affected by the crisis?

What strategies are companies implementing to mitigate risk and manage uncertainty?

The Latin American spinal implant market will continue to grow through 2031, although adoption of higher cost procedures will be hindered by insufficient reimbursement.

Which device segments are growing the fastest, and why?

Which country's market is expanding the quickest, and what is contributing to this?

How will reimbursement challenges limit spinal implant procedures, and how will this vary across different countries?

Updated government regulations on using telecommunication for healthcare access have the potential to boost market revenues in Brazil through 2031.

How is healthcare access expected to change in Brazil going forward?

How will this impact the spinal implant market through 2031?

The shift toward performing spinal implant procedures in ASCs will have an impact on the spinal implant market.

What factors are driving the shift to ASCs? How is reimbursement affecting sites of service for spinal implant procedures?

What impact will this shift have on ASPs and procedure volumes in the spinal implant market?

Will there be any change in CMS’ plans to remove certain musculoskeletal codes from the ASC payable list?

Additive manufacturing will have a significant impact on the market.

What types of implants are being manufactured using 3-D printing?

What are the potential benefits of 3-D printing, and how will it affect the adoption of certain implants?

How is 3-D printing affecting the choice of materials for IBDs?

The Latin American spinal implant market is heavily influenced by socioeconomic factors.

What strategies can competitors employ to overcome unfavorable socioeconomic factors?

How have recent economic conditions affected the market?

Reimbursement changes are altering the market for nonfusion technologies.

Which products will be affected by reimbursement changes?

How will these changes affect the growth potential of these products?

Which product segments should competitors focus on for growth opportunities?

The Latin American spinal implant market is particularly fragmented, with a varied mix of large international companies and smaller domestic competitors.

What are the key competitive strategies that foreign MNCs and local companies must be mindful of?

Which local competitors have been able to capture notable shares within the Latin American spinal implant space?

How will purchasing priorities in this region evolve going forward?