Asia Scoliosis Management Market Worth $826.8Mn at 6.1% CAGR; Industry Giants Such as Medtronic and Zimmer Biomet to Bolster Productions Operations in Asia Pacific

(The Express Wire via Comtex)

The ”Asia scoliosis management industry“ 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 and 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 and ASCs, Clinics, and Others), and Country Forecast, 2020-2027”.

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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.

Restraining Factor

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.

According to the report, the market value stood at USD 644.7 million in 2019. The report also offers the following:

  • Unparalleled intelligence on the different market drivers, trends, and restraints;
  • Valuable insights into the performance of all market segments;
  • Comprehensive analysis of the leading players’ profiles and dominant strategies; and
  • Detailed assessment of the impact of regional developments on market growth.

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Country Insights

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.

Competitive Landscape

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.

Industry Developments:

  • 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.

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List of Key Companies Profiled in the Asia Scoliosis Management Market Report:

  • OTTOBOCK (Duderstadt, Germany)
  • NuVasive, Inc. (California, U.S.)
  • Orthofix Holdings, Inc. (Texas, U.S.)
  • DePuy Synthes Companies (Johnson and 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)

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