Spinal Fusion Market to Gain a Stronghold by 2025
There are several huge aspects impacting medical device technology field nowadays. A number of trends including consolidation, research and developments, and international strategies and alliances are driving the market for china spinal fusion market. The spinal fusion is one of the most common surgeries suggested for back problems. With the increasing spinal fusion surgery volumes in china due to the favourable reimbursement levels and patients’ willingness to undergo surgery with minimal invasive techniques is expected to foster the china spinal fusion market. Spinal fusion is surgical process are done to the patients suffering from a number of conditions such asdeformity, scoliosis, disc disease and fracture.
The China Spinal Fusion Market is expected to register a double digit growth holding the fact that there is an increasing number of surgeries due to advancement in the technologies and use of minimal invasive techniques that benefits reduced cost. The procedures are highly benefited with the investment in the new technologies and their clinical success which are gaining more and more importance in the recent days and causing the China spinal fusion market to grow.
The emerging China spinal fusion market has been experiencing a phase of new product development and technological advancements due to greater demand. The manufacturing companies are raising their respective market share with aggressive marketing activities and increased R&D activities.
China Spinal Fusion Market: Drivers & Restraints
Some of the major factors subsidizing the growth of China spinal fusion market are increasing rate of aging population with spine related diseases & related injuries coupled with the rising incomes of the Chinese populace ensuring the patients’ capability to pay for the treatment. On the other hand the price sensitive population of china is very responsive to the treatment price that are anticipated to drip considerably in near future due to the increasing competition in the market.
Due to existing and upcoming advance technologies such as minimal invasive surgery and better implant materials are making it more widely accepted including the younger adult populace and thereby increasing the China spinal fusion market.
The economic growth and additional initiatives taken by the Chinese government had resulted in treatment of a large number of previously untreated spinal disease patients in China’s rural populace who are now undergoing minimally invasive spine surgery due to increased access.
Despite of being widely used procedure for curing extremely debilitating disease related to spine, and spinal deformities, such as scoliosis and kyphosis, the China spinal fusion market is facing some challenges such as reimbursement cuts and heavy government regulations, high surgery cost, risk factors involved in the surgery etc.
Due to high competition in the market, prices for bone graft substitutes and spinal implants are expected to come down in the Asia Pacific market, even when demand and expenditure on them has become greater than before, thus restraining the China spinal fusion market from growing. Some of the other growth restraining factors of the China spinal infusion market can be growing awareness for some other treatment methods such as IDET, artificial disc, posterior dynamic stabilization, disc regeneration.
China Spinal Fusion Market: Segmentation
By spine fusion device types is segmented as follows:
- Spinal Plating Systems
- Pedicle Screw Systems
- Interbody Cages
By procedure, the china spinal fusion market is segmented as follows:
- Posterior Lumbar Interbody Fusion (PLIF)
- Anterior Lumbar Interbody Fusion (ALIF)
- Anterior/Posterior Spinal Fusion
- Transforaminal Lumbar Interbody Fusion (TLIF)
- Extreme Lateral Interbody Fusion (XLIF)
The developing region of China is projected to be potentially growing in market with reference to the increasing demand for spinal fusion holding the fact that increased number of technological advancements have made the devices and surgeries cost-effective.