The WW Spine Hardware market saw a return to growth in Q319 with +3.6% growth, the highest growth rate this market has seen in at least 2 years. An uptick in procedure volumes across the board drove robust US market growth of +5.7%. WFS analysts estimate the Q319 Spine market (excluding Infuse) accelerated 90bps sequentially on a stacked two-year basis with Medtronic, Globus and NuVasive taking share from DePuy Synthes, Stryker and Zimmer Biomet.
Medtronic management agrees, and shared with analysts that it sees a +2 to 3% growth rate for the spine market driven by an increase in procedures offsetting pricing pressure. NUVA management also reports a stable US Spine market which grew +2% in the quarter by NuVasive’s internal estimates, as compared with flat to +1% growth over the last 12 to 18 months.
- Q319 Spine Market Highlights
- Integration Trends
- Top Players in Spine Revenue and Growth
- Q319 Regulatory Highlights
- Other Regulatory Highlights
Recent mergers and acquisitions created some interesting dynamics in the quarter, as integrations are unsurprisingly presenting challenges across the board.
Most notable among these is Stryker’s acquisition of K2M, with Stryker posting Q3 pro forma spine growth of -1% due to the SYK/K2M integration and its associated inventory and sales integration challenges. Cost synergies associated with K2M integration is ahead of plan. However, cross selling, scaling of rep hires and whole inventory availability is taking longer...