The size of the Asia Pacific Spinal Trauma Devices market is predicted to be growing at a CAGR of 6.50% during the forecast period. The market size is estimated to be worth USD 1035.99 million by 2026 from USD 756.15 million in 2021. It captures 20% of the global market.
The growing popularity of minimally invasive (MI) spine surgeries and an increasing number of spinal cord injuries across the region are the growth prospects for the APAC spinal trauma devices market throughout the forecast period. Also, the rising number of road accidents and the rise in the incidence of spinal health issues are expected to drive the market growth.
On the other hand, the market growth is growing due to the new product launches, collaboration, and acquisitions between the emerging countries, expanding the market growth in the region. One of the significant reasons for spinal cord injuries is falling among the elderly. Hence, this number of cases is expected to increase significantly as the elderly population continues to rise. The growing geriatric population and growing spinal injuries are expected to drive growth for the spinal trauma devices market.
The market is experiencing a considerable shift from open spine surgeries to minimally spine surgeries. The market is shifting away from open spine procedures and toward minimally invasive spine surgeries. Unlike open spine operations, which can damage soft tissues and cause postoperative pain, they have a low infection risk, pain, and muscle damage during spinal trauma therapy treatments. In addition, minimally invasive spine procedures use tiny incisions to minimize blood loss and problems. As a result, the market for spinal implants is growing since minimally invasive spine operations, such as minimally lumbar infusion and facet fixation, offer minimal medical costs.
In addition, the favorable reimbursement policies and government initiatives to develop the healthcare infrastructure in the region are augmenting the market growth.
However, the Lack of awareness among the people regarding the advanced techniques available for the treatment and the expensive nature of hospitalization impede the market growth. The unavailability of advanced healthcare infrastructure in developing countries challenges the spinal trauma market's growth in the region.
This research report on the APAC spinal trauma devices market has been segmented and sub-segmented into the following categories:
By Device Type
Geographically, augmenting the geriatric population is why the Asia Pacific is predicted to be the fastest-growing regional market in the forecast period. China and India are expected to spearhead this growth spurt.
The APAC is one of the fastest-growing regions globally in the Spinal Trauma Devices Market. The market accounted significant share over the forecast period and is most likely to witness a promising share during the forecast period. The APAC market is majorly driven by the growing healthcare sector, favorable reimbursement policies in the developed countries, and public awareness about healthcare. The growing healthcare expenses and rising adoption of sedentary lifestyles leading to obesity are the major growth factors in the regional market growth. However, ever-growing countries such as China, India, and Japan contribute to the regional market growth. Over the forecast period, China dominated the spinal trauma devices market and accounted significant share in the market. Over the years, China witnessed technological advancements in the healthcare sector owing to supportive government reimbursement and investment policies. In addition, China, being the largest country with 25% of the global population.
On the other hand, India is one of the fastest-growing countries in the Asia Pacific. As a result, the market is anticipated to account for the highest share in the market. In addition, the factors such as improving healthcare sectors, supportive government policies, and rising adoption of sedentary lifestyles leading to obesity are propelling the market growth.
KEY MARKET PLAYERS:
A few prominent companies operating in the APAC spinal trauma devices market profiled in this report are Stryker Corp., CONMED Corp., Medtronic, Smith & Nephew plc. Other players in the market include NuVasive Inc., DePuy Synthes, Spinal Technology Inc., Arthrex Inc., ReWalk Robotics, Orthofix International NV, etc.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Device Type
5.1.2 Internal Fixation Devices
220.127.116.11 Plate and Screw
18.104.22.168 Rods and Pins
22.214.171.124 Bone Grafts
5.1.3 External Fixation Device
5.1.4 Y-o-Y Growth Analysis, By Device Type
5.1.5 Market Attractiveness Analysis, By Device Type
5.1.6 Market Share Analysis, By Device Type
5.2.1 Internal fixation devices
5.2.2 External fixation devices
5.2.3 Y-o-Y Growth Analysis, By Product
5.2.4 Market Attractiveness Analysis, By Product
5.2.5 Market Share Analysis, By Product
5.3 End User
5.3.3 Physician's Offices
5.3.4 Y-o-Y Growth Analysis, By End User
5.3.5 Market Attractiveness Analysis, By End User
5.3.6 Market Share Analysis, By End User
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Device Type
6.1.4 Market Attractiveness Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Device Type
6.1.5 Market Share Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Device Type
6.5 South Korea
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Medtronic plc
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 DePuy Synthes
8.3 Stryker Corporation
8.4 NuVasive, Inc.
8.5 Globus Medical, Inc.
8.6 Arthrex, Inc.
8.7 B. Braun Melsungen AG
8.8 CONMED Corporation
8.9 Smith & Nephew plc
8.10 Zimmer Biomet
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures