12 Jan 2022
Posted in Medical Devices
China’s minimally invasive spinal devices market to witness 7% growth through 2030, forecasts GlobalData
The minimally invasive spinal (MIS) devices market in China is expected to grow at a compound annual growth rate of about 7% between 2021 and 2030, driven by an increase in geriatric population and prevalence of obesity, leading to spinal disorders, forecasts GlobalData, a leading data, and analytics company.
GlobalData’s report, ‘Minimal Invasive Spinal Devices (Orthopedic Devices) – Global Market Analysis and Forecast Model (COVID-19 Market Impact)’, reveals that Medtronic Plc, DePuy Synthes Inc, and Stryker Corp were the major players in China, accounting for about 45% of the market in 2021.
Shweta Yadav, Medical Devices Analyst at GlobalData, comments: “With the increase in the aging population and rising prevalence of obesity, orthopedic ailments such as lower back pain and other degenerative spinal conditions have also increased in China, which in turn are driving the market.”
The demand for MIS devices is expected to further increase in the coming years due to the increased adoption of advanced robotics in hospitals and the rising number of surgical procedures. The oblique lumbar interbody fusion and lateral lumbar interbody fusion devices are more popular in China as compared to posterior lumbar interbody fusion and transforaminal lumbar interbody fusion devices.
Yadav concludes: “Shorter hospital stays, less invasive procedures, lesser tissue damage and scarring as compared to traditional open surgeries and increasing awareness among people will further drive the MIS devices market in China. However, reluctance from old generation doctors in adopting the newer minimally invasive approach and stringent regulatory framework may hamper the growth of the market.”