Report: Degenerative spinal conditions to drive Asia-Pacific pedicle screw-based dynamic stabilisation systems market
The Asia-Pacific pedicle screw-based dynamic stabilisation systems market is forecast to witness a compound annual growth rate (CAGR) of 6.3% from $12.5m in 2016, to $19.2m by 2023, according to a report by GlobalData.
Titled ‘MediPoint: Pedicle Screw-Based Dynamic Stabilization Systems – APAC Analysis and Market Forecasts’, the report covers the seven major Asia-Pacific (APAC) markets of Australia, China, India, Japan, New Zealand, South Korea, and Taiwan.
The advantages provided by the system in comparison to traditional spinal fusion procedures and the increase in the prevalence of degenerative spinal conditions among the ageing population have been identified as the key growth drivers.
Future adoption of the systems, however, will depend on strong clinical data to demonstrate their efficacy, explains GlobalData healthcare analyst Jennifer Ryan. Long-term clinical efficacy data will play a major role in the future adoption and reimbursement of the devices, as spinal fusion remains the preferred procedure for treatment of patients with degenerative spinal disorders.
The pedicle screw-based dynamic stabilisation systems market is largely consolidated and dominated by well-established orthopaedic and spine companies. The most popular devices in the market include Zimmer Biomet’s Dynesys system and systems from Globus Medical and Paradigm Spine.
Country-wise, China accounted for the majority of the market in 2016, accounting for 40% of the regional revenue, and is expected to continue its dominance during the forecast period. The fastest-growing market during the forecast period is expected to be India with a CAGR of 7.9%, while New Zealand is expected to emerge as the slowest growing market, at a CAGR of 3.7%.