First, we want to take the opportunity to wish you the best in this new year and thank you for following us!
Today we are providing an estimate of the market shares at the end of 2022. We highlight that now this is only our estimations. Soon as the results of the complete 2022 come out, we will update this information with the official data.
- Our world spine market estimation is 10.5 billion in 2022.
- We have taken the published data of the first nine months of 2022 in almost all cases (except Medtronic, and Johnson&Johnson where the separate Spine data are not published).
- In this Spine market, the Pareto principle occurs since the eight most relevant companies represent 80% of the market sales.
After these considerations, the market shares are as follows:
- Medtronic: It continues to be the spine market leader with 24.%.
- Johnson&Johnson: Maintains its second position with 12% but with competitors getting closer. We do not rule out that in the not-too-distant future, they will surpass him.
- Nuvasive: It has the third position in the world market. With a market share of 11.4%, it is getting closer to J&J.
- Stryker: It seemed that with the acquisition of K2M, it would grow more and surpass Nuvasive. It hasn’t been like that.
- Globus: With a share of 10%, it is stable in that position. We must wait for the official results since Q4 can improve our estimate. However, we think they will acquire something to grow and catch up with Stryker (10.8%) or Nuvasive (11.4%). We are sure that soon we can see some movement.
- Orthofix-Seaspine: Without a doubt, the slogan “Stronger Together” responds to reality. Now, with a share of 5.5%, practically entering the Top five of the world Spine.
- ZimVie: Since its spin-off, it has not finished stabilizing in its fall. Without Zimmer’s backing, it has lost market share and is looking to position itself. We’ll see what happens in the future.
- ATEC: This company continues to grow in sales and market share. Now, they account for 3%.
- Rest of the market: It represents almosy 20% (19,3%). This market share has competed between numerous companies, among which many are very relevant. In most cases, they are not public companies we do not have the necessary information to calculate their market shares.