Asia Pacific Spinal Implants Market by Industry Analysis, Growth, Share, Outlook, Trends, 2024
Asia-Pacific Spinal Implants Market, By Product Type (Fusion Implant Devices (Cervical Fusion (Anterior Cervical Fusion, Posterior Cervical Fusion), Thoraco-Lumbar Fusion (Anterior Thoraco-Lumbar Fusion, Posterior Thoraco-Lumbar Fusion, Interbody Thoraco-Lumbar Fusion)), Non-Fusion Implant Devices (Dynamic Stabilization Devices, Artificial Discs, Annulus Repair Devices, Nuclear Disc Prostheses), VCF Treatment Devices (Baloon Kyphoplasty Devices, Verteboplasty Devices)), By End-User (Hospitals, Spinal Surgery Centers, Orthopedic Clinics, Others), By Country (China, India, Japan, South Korea, Singapore, Thailand, Malaysia, Taiwan, Indonesia, Australia, Rest of APAC) – Trends and Forecast to 2024
The Asia-Pacific spinal implants devices market is estimated at USD 1.8 billion in 2016 and is projected to reach USD 3.3 billion by 2024, at a CAGR of 7.7% during the forecast period from 2017 to 2024.
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The Asia-Pacific spinal implants market is segmented based on product type, surgery type, procedure type, end-user and geography.
Spinal implants are segmented by product type, into spinal fusion, vertebral compression fracture treatment devices and spinal non-fusion, wherein spinal fusion, which fuses vertebrae together to treat back pain and is commonly done in the lumbar region of the lower back, is by far the most common spine procedure.
Some of the major Companies operating in the Asia-Pacific Spinal Implants Market are:
- Zimmer Inc.
- DepuySynthes Companies
- Stryker
- Benvenue Medical
- CareFusion Corporation
- Medtronic
- Alphatec Spine, Inc.
- NuVasive Inc.
- Integra Lifesciences Holdings Corporation
- Orthofix International N.V.
- Globus Medical Inc.
- LDR Holding Corporation
- K2M Inc.
- Braun Melsungen.
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The spinal non-fusion devices market is segmented on the basis of product types into dynamic stabilization devices, artificial discs, annulus repair devices and nuclear disc prosthesis. Spinal non-fusion products, such as dynamic stabilization devices (or motion preservation devices) have become the treatment of choice (especially for young patients. The dynamic stabilization devices are sub-segmented into product types such as interspinous decompression spacers, pedicle screw systems and facet replacement implants. The artificial discs are of two types artificial cervical discs and artificial lumbar discs.
The vertebral compression fracture (VCF) treatment devices are further segmented into two product type balloon kyphoplasty devices and verteboplasty devices. VCF’s are generally treated with vertebral augmentation. Based on market forecasting, spine radiologists are expected to dominate the VCF procedure market, also primary care providers is expected to serve the majority of the patients with osteoporosis and tumors in vertebrae.
The Asia-Pacific spinal implants market is also segmented based on procedure type into open surgery and minimally invasive surgeries. On the basis procedure type the market is segmented into major procedures such as discectomy, laminectomy, foraminectomy, facetectomy, corpectomy among others.
Based on geography the Asia-Pacific Spinal Implants Market is segmented into:
- China
- India
- Japan
- South Korea
- Singapore
- Thailand
- Malaysia
- Taiwan
- Indonesia
- Australia
- Rest of APAC
China is expected to dominat the market with 32.3% market share. Markets such as India, Singapore, Taiwan, Thailand, Malaysia and Indonesia is expected to be the highest growing market in the forecast period owing to the availability of products and cheap surgery costs in this countries. Medical tourism is very important for the countries growth as patients from Europe and other Arabian countries is seeking surgery in these countries which is able to boost the countries growth in the forecast period.
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