This Minimally Invasive Deformity Correction System market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Minimally Invasive Deformity Correction System market.
Spinal deformities are the abnormalities in the curvature of vertebral column, commonly known as scoliosis. Minimal invasive corrective systems are used to align the abnormal curve of the vertebral column. Common symptoms of scoliosis incudes rib hump, asymmetrical shoulder posture, lower back pain. The minimally invasive corrective devices used rods and screws of different dimensions that helps in aligning vertebral column over the time. The devices use advanced technology that helps in proper navigation of internal spinal spaces. It has helped the technicians in correcting spinal abnormalities precisely and accurately with less blood loss. The main advantage of minimally invasive deformity correction system is cost effectiveness and target specificity, propelling the growth of the minimally invasive deformity correction system market. The incorporation of minimal invasive procedure using minimal invasive tubular retractor systems over the traditional open-heart surgeries, which is costly and involves severe blood, is also propelling the demand of the market.
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Minimally invasive deformity correction system Market: Drivers and Restraints
Rising prevalence of spinal deformities majorly idiopathic scoliosis is the primary factor driving the growth of minimally invasive deformity correction system market. The prevalence of scoliosis is approximately 1% in adult age group and approximately 8% in older age group. Also, increase in adoption of minimal invasive procedure for spinal injuries which is cost effective and also helps rapid recovery, is also a leading factor for growth of minimally invasive deformity correction system market. Moreover, the spinal injuries increase in older age and rising geriatric population around the globe, also drives the growth of minimally invasive deformity correction system market.
Also, rising awareness regarding health and hygiene may upsurge the demand for minimally invasive deformity correction system market. On the other hand, lack of healthcare infrastructure and lack of skilled personnel may deter the growth of minimally invasive deformity correction system market in under developing economies. Moreover, the procedure requires post-operative check-ups for conforming successful operation, which might hamper the growth of minimally invasive deformity correction system market.
The global minimally invasive deformity correction system is majorly dominated by scoliosis among application segment. The rising cases of scoliosis increases with the rising prevalence of spinal injuries. This will help increase demand of minimally invasive deformity correction system which, is cost effective and surgery involves less blood loss. Also, increasing adoption of minimal invasive deformity correction systems for diagnosis of spinal injuries will contribute in the market growth. Among the device type, the minimally invasive tubular retractor will capture the largest revenue in minimally invasive deformity correction system market due to more adoption by the developed nations. Hospitals generate largest revenue share in minimally invasive deformity correction system market as the hospitals use advanced technology medical devices for patient care that also reduces cost by reducing hospital visits. Also, the minimally invasive deformity correction procedure is target guided, making it a selective procedure for minimal invasive spinal surgeries.
Minimally invasive deformity correction system Market: Key Players
Examples of some of the market participants in minimally invasive deformity correction system market are Orthofix International, Medtronic, Stryker, Zimmer, DePuy Synthes, NuVasive, Globus Medical, K2M Medical, SeaSpine, Alphatec Holdingsl, Bionet and others.
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