South Korea Spinal Surgery Market Size (Value, Volume, ASP) by Segments (Minimal Invasive Spinal Devices, Spinal Fusion, Spinal Non-Fusion, Vertebral Body Replacement Systems and Vertebral Compression Fracture Repair Devices), Share and Forecast, 2015-2025
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The minimally invasive spinal (MIS) devices market in South Korea is expected to grow at a compound annual growth rate (CAGR) of about 11% between 2020 and 2025, driven by the increase in the aging population with orthopedic problems.
As COVID-19 cases subside and vaccination continues, the backlog of non-elective orthopedic procedure volumes are expected to recover in the coming months.
This report reveals that Medtronic Plc, DePuy Synthes Inc, NuVasive Inc and Stryker Corporation are the major players in South Korea, together accounting for about 50% of the market in 2020.
Anusha Kaushik, Medical Devices Analyst at GlobalData, comments: “Minimally invasive spinal procedure technology is relatively new and is at a nascent stage. MIS is used as a treatment for orthopedic conditions that impact the spine such as degenerative disc disease, scoliosis, spinal stenosis, trauma, spinal tumors, and spondylolisthesis. The growth of MIS market in South Korea is driven by the increasing prevalence of orthopedic diseases in the aging population and better treatment options providing faster recovery.”
The market is mainly driven by the increase in access to healthcare, growing incidence of spinal diseases, strong reimbursement scenario for senior care and technological advancements. MIS surgeries provide advantages as they involve small incisions, which cause less damage to tissues, require less recovery time and provide a better quality of life. MIS procedures can be done in outpatient settings, which help reduce healthcare costs, as well as treat a greater number of patients driving the overall healthcare costs down.
Ms. Kaushik concludes: “Technological advancements such as increased use of computer navigation and robotics in surgeries and positive results from clinical trials are expected to drive the MIS procedure volumes. Robotic navigation systems and advanced imaging systems aim to ease the complexity of difficult procedures for surgeons to optimally treat a wider range of patients. The use of these technologies to reduce exposure to radiation, increase implant placement accuracy, and augment the surgical-field visualization are expected to further drive the demand for MIS procedures.”
Scope
GlobalData’s “South Korea Spinal Surgery Market Outlook to 2025” is a comprehensive databook report, covering key market data on the South Korea Spinal Surgery market. The databook report provides value (USD), volume (units) and average prices (USD) within market segments – Minimal Invasive Spinal Devices, Spinal Fusion, Spinal Non-Fusion, Vertebral Body Replacement Systems and Vertebral Compression Fracture Repair Devices.
The South Korea Spinal Surgery Market report provides key information and data on:
• Annualized market revenues (USD), volume (units) and average prices (USD) data for each of the market segments. Data is provided from 2015 to 2025.
• 2019 company share and distribution share data for Spinal Surgery Market.
• Global corporate-level profiles of key companies operating within the South Korea Spinal Surgery Market. Based on the availability of data for the particular category and country, information related to pipeline products, news and deals is also available in the report.
South Korea Spinal Surgery is segmented as follows:
• Minimal Invasive Spinal Devices
• Spinal Fusion
• Spinal Non-Fusion
• Vertebral Body Replacement Systems
• Vertebral Compression Fracture Repair Devices
Reasons to Buy
Key Reasons to Purchase – The South Korea Spinal Surgery Market report helps you to develop:
• Business strategies by identifying the key market segments poised for strong growth in the future.
• Market-entry and market expansion strategies.
• Design competition strategies by identifying who-stands-where in the market.
• Develop investment strategies by identifying the key market segments expected to register strong growth in the near future.
• Understand the key distribution channels and what’s the most preferred mode of product distribution – Identify, understand and capitalize.
• Arthrex Inc
• Stryker Corp
• Smith & Nephew Plc
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