South East Asia Spinal Implants Market Technical Data and Manufacturing Plants Analysis 2028

South East Asia Spinal Implants Industry Overview

The South East Asia spinal implants market size was valued at USD 1.9 billion in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 6.1% from 2021 to 2028.

Increasing incidence of spine disorders, such as lumbar stenosis, fractures, trauma, deformities, and degenerative disc diseases, is expected to bolster the market growth over the forecast period. The growing geriatric population and rising cases of occupational & sporting activities-related injuries are the key factors responsible for increased cases of spine disorders. In addition, the growing demand for key-hole surgeries or minimally invasive surgeries for correcting and stabilizing spine disorders is expected to propel growth. These surgical procedures are performed to facilitate fusion and strengthen & stabilize the spine.

Gather more insights about the market drivers, restrains and growth of the South East Asia Spinal Implants Market

China spinal implants market size, by raw material, 2018 - 2028 (USD Million)

Advancements in spine surgery devices and implants are expected to drive market growth. The growing demand for minimally invasive surgeries is attributed to the increasing awareness levels about the benefits associated with these procedures, such as shortened operating time, reduced hospitalization stays, minimal collateral tissue damage, and quicker recovery periods, which is contributing to the development of the market. The emergence of advanced spinal implants and surgical procedures is expected to positively impact the market growth.

Some of the innovations developed by key players are flexible radiolucent spinal implants, advanced image-guided technology, bone fusion, and 3D printing of disc tissue. The geriatric population in Southeast Asia is rising at an alarming pace and is susceptible to spine deformities and degenerative diseases. The rising prevalence of lower back pain and neck pain is estimated to affect 60% of the geriatric population in this region. Some of the common spine disorders being recorded amongst the geriatric population are spondylolisthesis, prolapsed intervertebral disc, lumbar stenosis, and lumbar disc herniation. Furthermore, the incidence of sports-related injuries and sudden trauma to the spine is increasing and is a key impact-rendering driver for the market.

Key market players are constantly investing in research & development activities and devising technological collaboration strategies to expand their product portfolio and business footprint. For example, computer-assisted image guidance systems are used in spine localizations and deliver real-time image datasets. Furthermore, key players are introducing lesser non-invasive surgical techniques with minimum postoperative pain & complications, preservation of motion in operated spine segment, and faster recovery periods. Moreover, spine specialists and surgeons are adopting Artificial Intelligence (AI) and machine learning algorithms, which aid healthcare professionals in their decision-making by running data analysis on the image datasets.

The ongoing COVID-19 pandemic had a negative impact on the market owing to the overburdening of healthcare systems. The transformations in the industry forced surgical departments to reduce the volume of non-emergent spine surgeries. The onset of the pandemic enforced governments to impose travel restrictions and lockdowns to curb the transmission rate. The lack of Personal Protective Equipment (PPE), testing facilities, and restructuring & shortage of workforce led to a significant decline in surgical procedures and impacted the revenue earnings of spinal implants in Southeast Asia. The pandemic impacted the operating room structures, indications, and pre-op setup enforcing healthcare facilities to make required alterations. Healthcare facilities had to postpone or cancel surgical procedures, which eventually contributed to the decline in revenue earnings.

A rise in the number of healthcare facilities, such as Ambulatory Surgery Centers (ASCs), hospitals, and specialty clinics, is expected to contribute to the market growth over the forecast years. Moreover, the growing trend of healthcare professional-owned and -managed specialty clinics and ASCs is supporting the demand for minimally invasive surgeries. The increasing prevalence of spine disorders is contributing to the surge in demand for spinal implants, which is supporting the entry of new players in the market with innovative product offerings. These players are focusing on developing novel products by providing enhanced patient comfort to gain a competitive edge in the market.

Browse through Grand View Research’s Medical Devices Industry Research Reports.

  • Hydrogel-based Drug Delivery System Market: The global hydrogel-based drug delivery system market size was valued at USD 5.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.5% from 2021 to 2028.
  • Spinal Fusion Device Market: The global spinal fusion device market size was valued at USD 6.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.4% from 2021 to 2028.

Market Share Insights

  • April 2021: Orthofix launched its first 3D-printed titanium implants for spine surgeries, which are designed to promote better bone growth and offer an extensive range of patient-specific implant sizes.
  • May 2020: DePuy launched its new interbody implant-CONCORDE LIFT Interbody Implant-which aids in spinal fusion surgery to treat degenerative disc disease.
  • June 2019: Medtronic PLC acquired Titan Spine, a pioneering titanium interbody fusion device manufacturer. Through this acquisition, Medtronic PLC strengthened its market position and expanded its product portfolio.

Key Companies profiled:

Some of the prominent players in the South East Asia spinal implants market include:

  • Medtronic PLC
  • DePuy Synthes
  • NuVasive
  • Stryker Corp.
  • Globus Medical, Inc.
  • Zimmer Biomet
  • RTI Surgical, Inc.
  • Orthofix Medical, Inc.
  • SeaSpine
  • B Braun Melsungen AG

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