Asia Scoliosis Management Market to Rise at 6.1% CAGR till 2027; Improving Healthcare Policies in Asian Economies to Broaden Market Outlook

The Asia scoliosis management market size is projected to reach USD 826.8 million by 2027 on account of the increasing number of specialty clinics for spinal treatments in Asia, states Fortune Business Insights™ in its report, titled “Asia Scoliosis Management Market Size, Share & 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 & ASCs, Clinics, and Others), and Country Forecast, 2020-2027”. As per the report, the value of the market stood at USD 644.7 million in 2019 and the market is expected to register a CAGR of 6.1% from 2020 to 2027.

As a result of the steep decline in elective surgical procedures in hospitals across the globe due to the COVID-19 pandemic, key players in this market are grappling with contracting sales and profits. This will negatively impact the Asia scoliosis management market growth as major market companies have been making huge investments to establish their presence in Asia Pacific, but the pandemic has stymied their plans, stalling the growth of the market in the process.

OrthoPediatrics Acquires ApiFix Ltd, Expands Spinal Deformity Portfolio

In April 2020, OrthoPediatrics announced the successful acquisition of Apifix Ltd, a medical device company based in Israel and Boston. The acquisition allows OrthoPediatrics to add Apifix’s minimally invasive deformity correction system for non-fusion treatment of progressive adolescent idiopathic scoliosis (AIS) that has been approved by the US Food and Drug Administration (FDA). After vertebral body tethering, Apifix’s non-fusion treatment for AIS is the only other non-fusion technology for spinal deformities cleared by the US FDA under its Humanitarian Device Exemption facility. Thus, with this acquisition, OrthoPediatrics will be able to considerably strengthen its spinal deform portfolio and entrench its market position.

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https://www.fortunebusinessinsights.com/asia-scoliosis-management-market-104534

Increasing Adoption of Minimally Invasive Spinal Surgeries to Feed Market Growth

Scoliosis is a condition where the spine becomes misaligned and is marked by curvatures, affecting the quality of life of the patient, mainly due to pain, especially in severe cases. Traditional open surgeries have been the common treatment options for scoliosis, but these treatments entail certain disadvantages such as damage to the surrounding tissue and long recovery periods. Minimally invasive spinal surgeries (MISS) provide a more efficient alternative to regular spinal procedures. For example, the incision required for the surgeon to perform the procedure is considerably smaller compared to traditional surgeries. As a result, scarring possibility is minimized and healing can happen at a faster pace. Furthermore, MISS performed using dilation technology allows muscles to simply contract away from the surgical site, removing the need for their repair post-surgery and eliminating the probability of damaging surrounding tissue. In Asia, with rising disposable incomes in India and China and improving accessibility to and affordability of modern healthcare technologies such as MISS, the prospects for the Asia scoliosis management market appear bright and healthy.      

Exciting Partnerships to Define Market Competition

Growing number of partnerships among key players is emerging as the defining feature for the competitive landscape of this market. Given the wide scope of innovation in the spinal treatment domain, companies are unifying their resources, capabilities, and expertise to develop path-breaking treatment alternatives for scoliosis patients in Asia. More importantly, by combining forces, companies are able to scale production to create cost-effective spinal solutions and broaden their sales horizons.

List of Key Players Covered in the Market Report of Asia Scoliosis Management:

• DJO Global (Texas, U.S.)
• Aspen Medical Products, LLC (California, U.S.)
• Zimmer Biomet (Indiana, U.S.)
• Medtronic (Dublin, Ireland)
• OTTOBOCK (Duderstadt, Germany)
• NuVasive, Inc. (California, U.S.)
• Orthofix Holdings, Inc. (Texas, U.S.)
• DePuy Synthes Companies (Johnson & Johnson Services, Inc.) (New Jersey, U.S.)

Further Report Findings:

• The adolescent idiopathic scoliosis (AIS) segment led the market in 2019, holding a share of 77.5%, mainly owing to the increasing prevalence of AIS in China, Japan, and Singapore.
• The congenital scoliosis segment is expected to showcase limited growth as babies born with scoliosis have a very low probability of survival.
• Rising number of investments by medical device companies in Europe and North America into the Chinese spinal treatment market will allow China to dominate the market share during the forecast period.

Table of Segmentation