Asia Pacific Spinal Implants Market Share, Size, Trends, Forecast 2023

Overview:

Spine disorders contribute a significant share to the healthcare costs worldwide and have wide ranging effects on the patients from mild pain and loss of feeling to extreme pain and paralysis. Deformity, tumours, trauma and degenerative conditions in the spine are the key causes of such disorders. Degenerative disc disease (DDD) is most familiar among otherwise healthy people in their 30s or 40s. It is also recognized as slip disc and affects around half of the population in the 7 major markets aged 40 and older. Regular disc damage is the cause of slip disc often leading to disc herniation and chronic back or neck pain.

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Market views:

Asia Pacific Spinal Implants market value was approx. USD 2983 Million in 2018. It is estimated to grow at a CAGR of 5.93% to reach USD 3980 Million by 2023. It holds 20% of the global market share.

Drivers and restraints:

The prime factors which are contributing to the growth of the Asia Pacific Spinal Implants market are increasing cases of spinal disorders along with the introduction of modestly invasive spine surgery techniques. Secondary factors include technological developments in bone grafting products connected with increasing geriatric population are propelling further towards the advancement of this market.

The factors that are hindering the growth of Asia Pacific spinal implants market are the stringent regulatory sanction process along with adverse and sometimes burdensome regulatory framework resulting in reimbursement scenario.

 

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Partition of the Market:

The Asia Pacific Spinal Implants market can be classified into three categories: according to technology, product, and type of surgery. With respect to technology, Spinal Implants market is divided into Spinal Fusion and Fixation Technologies, Vertebral Compression Fracture Treatment, Motion Preservation/Non-Fusion Technologies and Spinal Decompression. With respect to product, Spinal Implants market is segmented into Thoracic Fusion and Lumbar Fusion Devices. It is further sub-divided into Posterior Thoracic Fusion and Lumbar Fusion Devices, Interbody Thoracic Fusion and Lumbar Fusion Devices, Cervical Fusion Devices, Spine Biologics, Vcf Treatment Devices, Spinal Decompression, Non-Fusion Devices, and Spine Bone Stimulators. And finally, with respect to type of surgery the market is sectioned into Open Surgeries, and Minimally Invasive Surgeries.

Geographically the Asia Pacific Spinal Implants market has been partitioned into India, China, Korea, Japan and others. It is the third in terms of market share which narrowly resembles that of Europe. China is the dominating the market in this region. 

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Key players of the market:

Major companies in the Spinal Implants market are Medtronic, plc (Ireland), DePuy Synthes (U.S.), Stryker Corporation (U.S.), NuVasive, Inc. (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Globus Medical, Inc. (U.S.), Alphatec Holdings, Inc. (U.S.), Orthofix International N.V. (Netherlands), K2M Group Holdings, Inc. (U.S.), and RTI Surgical, Inc. (U.S.).

 

Scope of the Report:

The report offers an extensive examination of the business by giving the estimations of market potential and gauges with most extreme granularity. Along this, the variables persuasive in affecting the market flow and patterns are examined in detail at the item level. Further, the execution of the market at the territorial and nation level is evaluated and the prospects with high development potential are distinguished and discussed.

The key players in the business are profiled giving bits of knowledge on their money related execution, advertise position and development techniques. Similar investigation on prime strategical exercises of the market players depicting the key advancements like mergers and acquisitions, coordinated efforts and an assessment of the focused condition inside the business are given. The report additionally offers an expansive standpoint of the market alongside proposals from industry specialists on the open doors for speculation action.

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