Skeletal Deformation Correction Market: Introduction
Skeletal deformity is caused by injuries, bone diseases, congenital growth deficiencies and bone infection. Disease and injuries are among the major causes of abnormalities in the human skeletal system. Rickets, fractures, osteomyelitis, hip dysplasia, metabolic bone disease and osteoporosis, among others are the main causes of bone deformity. New advancements in skeletal deformation correction surgeries offer the ability to correct orthopaedic problems. Moreover, different skeletal deformation correction surgical methods are performed for spinal deformity correction.
Skeletal Deformation Correction Market: Drivers and Restraints
The skeletal deformation correction market is expected to witness significant growth opportunities during the forecast period due to an increase in the number of orthopaedic surgeries to correct deformity and bone fixation. Moreover, technological advancements and increasing healthcare expenditure are also among factors that are expected to fuel the growth of the market during the forecast period. Increase in the adoption of minimally invasive surgeries is expected to boost the skeletal deformation correction market. Growth in the number of fracture cases due to injuries, trauma and osteoporosis are also expected to boost the market.
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According to the International Osteoporosis Foundation, osteoporosis causes more than 8.9 Mn fractures annually. Moreover, approximately 1.6 Mn hip fractures occur worldwide each year and are expected to reach between 4.5 Mn to 6.3 Mn by 2050. Increase in the rate of birth deformities is also expected to fuel the demand skeletal deformation correction medical devices and implants over the forecast period. According to CDC, in the U.S. around 5,900 children are born with musculoskeletal defects every year. Increase in the innovation of the new products and the availability of implants is also another factor fuelling the growth of the skeletal deformation correction market. However, postoperative complications such as limb length discrepancy, the non-healing of the bones, contractures and prosthetic loss are some of the factors that are likely to hamper the growth of the skeletal deformation correction market.
Skeletal Deformation Correction Market: Segmentation
The global skeletal deformation correction market can be segmented on the basis of procedure type, end user and geography.
Based on procedure type, the global skeletal deformation correction market is segmented as:
- Limb Reconstruction
- Vertebral Column Resection
Based on end user, the global skeletal deformation correction market is segmented as:
- Ambulatory Surgical Centres
- Orthopaedic Surgical Centres
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Skeletal Deformation Correction Market: Overview
The global market for skeletal deformation correction is expected to witness moderate growth over the forecast period due to an increase in the number of injuries, bone disease and congenital growth deficiencies. The limb reconstruction procedure type is expected to contribute a major revenue share in the skeletal deformation correction market. Limb reconstruction is a highly performed skeletal correction method as a result of a large number of past trauma injuries, arthritis, bone loss, fracture and birth defects. The hospital end-user segment is expected to contribute a significant share in the global skeletal deformation correction market as it is the most accessible end user.
Skeletal Deformation Correction Market: Regional Outlook
Geographically, the global skeletal deformation correction market is segmented into America, Latin America, Europe, CIS & Russia, Asia Pacific excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). North America is expected to be the dominant market in the global skeletal deformation correction market owing to the incidence of a large number of fractures and birth deformities. Europe is expected to hold the second-largest share in the global skeletal deformation correction market throughout the forecast period owing to high awareness among patients regarding skeletal deformation correction procedures. The market in the Asia Pacific excluding Japan is expected to grow at a significant CAGR due to increasing healthcare expenditure and growth in the number of healthcare facilities.
Skeletal Deformation Correction Market: Key Players
Examples of some of the key players operating in the global skeletal deformation correction market are Zimmer Biomet; Johnson & Johnson Services, Inc.; Smith & Nephew Plc; K2M Group Holdings; Orthofix Medical Inc.; Stryker Corporation; Arthrex Inc.; Sonoma Orthopedic Products Inc.; Wright Medical Group, Inc.; ONKOS SURGICAL and Hanger Inc. A large number of manufacturers are focusing on the development and launch of new skeletal deformation correction techniques for the treatment of various deformities.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.