The spine devices market is undergoing significant changes, with key players adapting their strategies in response to shifting industry dynamics. One such notable development comes from Stryker, which recently made a strategic exit by selling its U.S. spinal implants business to Viscogliosi Bros., LLC, a family investment firm focused on neuro-musculoskeletal technology. This deal also includes a bid to acquire Stryker's spinal products in France and the formation of VB Spine, LLC, which will have exclusive access to Stryker’s robotic Mako Spine and Copilot portfolio for use with its implants.
This move reflects a shift in Stryker’s strategy within the competitive market. With increased competition and slow market growth, Stryker has decided to reassess its position in the spine segment and refocus its resources on other areas with higher growth potential. This article will delve into the strategic reasoning behind this deal and its implications for the spine devices market.
The spine devices market is currently dominated by a few major players, with Medtronic, Globus Medical, and DePuy Synthes controlling over half of the market share. However, the remaining portion is fragmented among a wide range of competitors, including Stryker’s former spine business. Despite the large share controlled by these major players, the market’s growth is modest. According to LSI’s Global Market Analysis and Projections, the global spine devices market is expected to grow at a compound annual growth rate (CAGR) of 3.9% from 2024 to 2029. This is slower than the overall medtech market, which is expected to grow at a CAGR of 6.6% during the same period.
Stryker’s decision to sell its U.S. spine business is part of a broader strategy centered on Stryker’s M&A activities, aligning with the company’s ongoing focus on expanding its presence in faster-growing markets.
In the United States, while spine surgical procedure volumes continue to grow, they are increasing at a slower pace. According to LSI’s Global Surgical Procedure Volumes Database, approximately 1.7 million spine procedures—including fusions, discectomies, decompressions, and fracture repairs—were performed in 2024. However, these volumes are only expected to grow at a modest 2.0% CAGR through 2029, which is slower than the growth of the U.S. 65+ population.
In contrast, global spine procedures are expected to see more substantial growth, with projections showing an 8.3% CAGR during the same period. This suggests that there are opportunities for expansion in regions outside the United States, where spine surgery is increasing more rapidly due to improving healthcare access and aging populations.
The spine devices market is highly competitive, with innovation at the forefront of many companies’ strategies. Unlike other orthopedic segments—such as the knee replacement market and hip replacement implants market—the spine market has seen continuous influxes of new companies and products. Strong surgeon influence, low barriers to entry, and the need for constant innovation have made the spine market highly dynamic. Companies must continually innovate to stay ahead, whether through the development of new implants, improved surgical techniques, or advanced technologies.
As the spine devices market evolves, companies are increasingly focusing on technological innovation and addressing the demand for minimally invasive solutions. The integration of robotics, AI, and imaging technologies will continue to improve outcomes and provide greater precision in spinal surgeries. Companies like Medtronic, Globus Medical, and DePuy Synthes will likely remain dominant, but newer entrants with advanced technologies may shake up the market.
In addition, we expect more M&A activity as companies look to consolidate their positions and expand their portfolios. Stryker’s divestiture from the U.S. spine market may not be the last of such moves as other companies reassess their strategies in the face of slow market growth and intense competition.
The spine devices market remains an important segment within the broader orthopedic market, with significant opportunities for growth despite some challenges. While Stryker has exited the U.S. spinal implants business, the company is still a player in the broader spine care space, particularly through its robotic technologies.
Innovation, market dynamics, and demographic trends will continue to shape the market over the coming years. As demand for spine surgeries rises globally, companies that can innovate and provide solutions for complex spinal disorders will be well-positioned for success.
The future of the spine devices market lies in advanced technologies, strategic M&As, and the ability to adapt to evolving market needs. Companies that stay ahead of these trends will remain at the forefront of the industry, driving growth and improving patient outcomes.
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