Asia Pacific Spinal Fusion Devices Market Size, Share & Industry Trends Analysis Report By Surgery, By Type, By End User (Hospitals, Specialty Clinics, and Others), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific Spinal Fusion Devices Market would witness Market growth of 6.3% CAGR during the forecast period (2022-2028).
Even though many patients with mild-to-moderate back pain prefer nonsurgical treatment, conservative, debilitating pain, those with acute frequently choose surgical surgery to eliminate or minimize pain & restore quality of life. Surgical decompression of the afflicted spinal segment, depending on the pathophysiology of the patient, is often enough to relieve intractable suffering caused by nerve root compression. Decompression and fusion, on the other hand, maybe recommended relieving pain caused by spinal instability or severe disc degeneration. Spinal decompression is a surgery that is used to make enough room for nerves in the spinal canal to relieve discomfort caused by neural impingement. It can also be used to prepare for a fusion procedure.
The rise in the global geriatric population, increasing prevalence of spinal disorders, regular advancements in spine fusion devices & surgical techniques, and growing preference for minimally invasive spine surgeries are all contributing to the global spinal fusion devices Market 's growth. Other factors expected to drive global Market revenue growth over the forecast period include rising incidences of spinal degeneration or deformities, increasing cases of road accidents & fatal falls, rising patient pool, and increasing volumes of surgical procedures in hospitals and ambulatory surgical centers.
Due to a growth in the frequency of spinal illnesses and increased healthcare spending, Asia-Pacific has a large Market for spinal fusion devices. Moreover, the rapidly aging population, as well as the lower cost of spinal surgeries in developing nations like India in comparison with other developed countries, has raised the demand for spinal implants. In India, significant institutions do spinal surgery, including at numerous multi-faculty spinal surgery facilities & super specialty hospitals performing intricate and advanced surgeries like microscopic spine surgery. As a result of the above-mentioned issues, demand for spinal fusion devices is expected to increase.
Due to robust reimbursement policies for spine operations and the rising prevalence of degenerative illnesses and spine fractures in the Asia Pacific, the demand for spinal arthrodesis devices is expected to surge throughout the forecast period. The Australian government announced modifications to the Medicare Benefits Schedule (MBS) items for spine treatments in September 2019, ensuring that patients undergoing spinal surgery receive proper reimbursement. This is anticipated to boost the Market in the Asia Pacific even further.
The China Market dominated the Asia Pacific Spinal Fusion Devices Market by Country 2021, and would continue to be a dominant Market till 2028; thereby, achieving a Market value of $877.1 million by 2028. The Japan Market is anticipated to grow at a CAGR of 5.6% during (2022 - 2028). Additionally, The India Market would showcase a CAGR of 6.9% during (2022 - 2028).
Based on Surgery, the Market is segmented into Minimally Invasive Spine Surgery and Open Spine Surgery. Based on Type, the Market is segmented into Thoracolumbar Devices, Cervical Fixation Devices, and Interbody Fusion Devices. Based on End User, the Market is segmented into Hospitals, Specialty Clinics, and Others. Based on countries, the Market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The Market research report covers the analysis of key stake holders of the Market . Key companies profiled in the report include Zimmer Biomet Holdings, Inc., Johnson & Johnson, Stryker Corporation, B. Braun Melsungen AG, Medtronic PLC, Alphatec Holdings Inc., Globus Medical, Inc., NuVasive, Inc., Orthofix Medical, Inc., and Exactech, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Minimally Invasive Spine Surgery
- Open Spine Surgery
- Thoracolumbar Devices
- Cervical Fixation Devices
- Interbody Fusion Devices
By End User
- Specialty Clinics
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Zimmer Biomet Holdings, Inc.
- Johnson & Johnson
- Stryker Corporation
- B. Braun Melsungen AG
- Medtronic PLC
- Alphatec Holdings Inc.
- Globus Medical, Inc.
- NuVasive, Inc.
- Orthofix Medical, Inc.
- Exactech, Inc.
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