Asia Scoliosis Management Market to Hit $826.8Mn by 2027; Increasing Demand for Efficient Treatments
Author : Vaishnavi Bakshi | Published On : 16 Aug 2021
The Asia scoliosis management market size is projected to reach USD 826.8 million by 2027, exhibiting a CAGR of 6.1% during the forecast period. Consistent prevalence of spinal deformities in Asian populations will be the leading trend shaping the growth trajectory of this market, postulates Fortune Business Insights™ in its report, titled “Asia Scoliosis Management Market Size, Share & COVID-19 Impact Analysis, By Product (Orthosis System (Cervical Thoracic Lumbar Sacral Orthosis (CTLSO), Lumbosarcal Orthosis (LSO), Thoracolumbosacral Orthosis (TLSO) and Spinal System), By Disease Type (Adolescent Idiopathic Scoliosis, Degenerative Scoliosis, and Congenital Scoliosis), By Age Group (Pediatrics, Adolescent, and Adults), By End User (Hospital & ASCs, Clinics, and Others), and Country Forecast, 2020-2027”. While no study has been conducted to identify the exact prevalence of scoliosis in Asia, several isolated researches have been undertaken to determine the incidence of the disease in different Asian countries. In Singapore, for example, prevalence of idiopathic scoliosis in 12- and 13-year-old female students was estimated to be 2.22% and 2.49%, respectively. In Taiwan, the incidence was 6.58% for a curve of 5 degrees and 2.4% for a curve of 10 degrees. A 2016 study conducted by the Ganga Hospital in Coimbatore, India found that 47% of the surveyed patients with congenital scoliosis suffered from intra-spinal anomalies, with tethered cord being the most common anomaly. Thus, the increasing prevalence of spinal deformities in Asia will stoke the adoption of scoliosis management technologies in the region in the coming years.
The Asia Scoliosis Management Market report offers an in-depth analysis of the Asia Scoliosis Management industry and the demand drivers by highlighting information on several aspects of the market. Prudent Markets addresses all these aspects and provides the latest scoop and detailed eye-opening study on all major & emerging business segments. In addition to this, the report sheds light on the industry developments by key players, which are contributing to the expansion of this industry. The development scope, feasibility study, Asia Scoliosis Management market concentration, and maturity analysis is elaborated in this report.
Information given in the research report pertains to different technological advancements introduced in recent years, which allows for a meticulous analysis of the industry and offers a more comprehensive understanding to the readers.
According to the report, the market value stood at USD 644.7 million in 2019. The report also offers the following:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Supply Chain Analytics market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Supply Chain Analytics market.
The outbreak of covid-19 in the global market has made companies uncertain about their future scenario as the prolonged lock-down finds a serious economic slump. The latest survey on COVID-19 Outbreak-Global Asia Scoliosis Management Market is conducted to provide hidden gems performance analysis. Essential growth factors and study of Basis points [BPS] have been discussed in the following report. Research Report explains a detailed overview of market dynamics, segmentation, product portfolio, business plans, and the latest development in the industry.
Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for the future.
Weakening Revenues amid COVID-19 to Hamper Market Growth
The Asia scoliosis management market growth is likely to face a series of negative impacts as major medical devices companies have been suffering from unprecedented revenue shortfalls due to the coronavirus. In the early stages of the pandemic, Ireland-based Medtronic announced that its weekly sales plunged steeply as hospitals around the world put elective surgeries on hold. In March, for instance, the company’s sales in the US dipped by 60% while in China they fell by 40%. Similarly, Zimmer Biomet reported a massive decline of USD 1.78 billion in the first quarter of 2020 as 80% of the company’s revenues come from elective procedures. These companies are also confronting the sharp drop in non-essential surgeries worldwide. According to the University of Birmingham-led 120-country alliance called CovidSurg, nearly 28.4 million elective surgeries across the globe are likely to get canceled because of the coronavirus. The cumulative effect of these developments will inevitably hamper the companies’ investment plans in Asia, resulting in deflated market growth.
Our research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers and acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
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China to Spearhead Market Development in Asia; Japan to Present Favorable Opportunities
Among countries, China is anticipated to dominate the Asia scoliosis management market share during the forecast period. The main reason behind China’s leading position in this market is the growing number of clinical trials being conducted in the country to develop sophisticated treatment options for spinal disorders. In Japan, rising incidence of scoliosis is expected to lucrative opportunities in the market, while in Singapore and South Korea increasing number of school screening programs to detect spinal deformities in children is likely to propel the market.
The Report offers figurative estimations for upcoming years on the basis of the recent developments and historic data. For gathering information and estimating revenue for all segments, researchers have used top-down and bottom-up approaches. On the basis of data collected from primary and secondary research and trusted data sources the report will help both existing and new aspirants for Asia Scoliosis Management market to figure out and study the market’s needs, market size, and competition.
Introduction of Advanced Scoliosis Solutions in Asia by Key Players to Boost Competition
Prominent players in the Asia scoliosis management market are focusing on introducing advanced scoliosis treatment technologies and devices in developing Asian countries. The primary aim behind these launches is to cater to the growing demand for cost-effective and efficient treatment options for spinal deformities in these countries.
Major companies in the Global Reconstruction MeshMarket are increasingly focusing on research and development activities to create new and innovative products to stay ahead of the competition. Staying on top of market trends & drivers is crucial for decision-makers to hold this emerging opportunity. The study provides information on market trends and development, drivers, capacities, technologies, and the changing investment structure of the Reconstruction Mesh Industry.
- December 2019: India Medtronic Private Limited announced the release of its flagship spine surgery solution, the Mazor X Stealth Edition. Offering a comprehensive procedural solution for surgical planning and execution, the Mazor X has been used by surgeons at the Indian Spinal Injuries Center in New Delhi for perform India’s maiden minimally invasive spinal surgery.
- August 2019:Zimmer Biomet secured clearance from the US Food and Drug Administration (FDA) for ‘The Tether’, the company’s fusion-less alternative for treating scoliosis in young patients in need of surgery. The solution pulls on the outside of the scoliosis curve to straighten the spine and leaves the inside to grow on its own.
List of Key Companies Profiled in this Market Report:
- OTTOBOCK (Duderstadt, Germany)
- NuVasive, Inc. (California, U.S.)
- Orthofix Holdings, Inc. (Texas, U.S.)
- DePuySynthes Companies (Johnson & Johnson Services, Inc.) (New Jersey, U.S.)
- DJO Global (Texas, U.S.)
- Aspen Medical Products, LLC (California, U.S.)
- Zimmer Biomet (Indiana, U.S.)
- Medtronic (Dublin, Ireland)