China and Taiwan Markets for Minimally Invasive Spinal Devices 2014 (Forecasted to 2020) – MedSuite
The Chinese market for minimally invasive surgery (MIS) spinal devices is the least mature and fastest growing market in the Asia-Pacific region due to the high number of untreated potential patients. Similar to the other BRIC (Brazil, Russia, India, China) countries, access to healthcare in rural areas of China is extremely limited. As a result of economic growth and an initiative by the Chinese government to vastly improve healthcare, a large number of previously untreated spine patients in Chinas rural population are now undergoing minimally invasive spine surgery due to increased access.
However, the Chinese government still faces significant challenges in providing medical services adequate to meet the basic needs of an immense number of potential patients spread over a wide geographic region. Although Chinas per capita income has grown at a rapid pace since the 1980s, a significant number of Chinese people live at socioeconomic levels far below the national average. The Chinese spinal implant market is experiencing strong growth in all segments. Even traditional spinal fusion, which grows slowly in most countries as a result of market saturation, was increasing rapidly in China in 2013. The MIS segment is the fastest growing industry in the Chinese spinal implant market because it is at its infancy in this country and facing an explosive demand.
Chinas market characteristics are vastly different than those of neighboring Taiwan. The Taiwanese spinal implant market is a mature market for fusion products; the majority of growth is a result of newer technologies, including non-fusion and minimally invasive surgery. Even these technologies experienced moderate levels of growth in 2013 in Taiwan due to fierce price competition and maturing markets. Therefore, whereas the Chinese MIS spinal devices market is experiencing explosive growth and will do so through the forecast period, the Taiwanese MIS spinal devices market will maintain moderate levels of growth in the single-digits.
- Year: 2014
- Scope: 2010-2020
- Region: Asia-Pacific
- Published Date: 08/01/2014
- Pages: 102
- Type: MedSuite
The Asia-Pacific and Emerging minimally invasive surgery (MIS) spinal device market is published in two separate reports. The Asia-Pacific report includes Australia, Japan and South Korea. The Emerging report includes China and Taiwan.
Each report comprises two main segments: MIS thoracolumbar fixation and MIS interbody fusion. The former represents approximately 68% of the total market and is expected to grow rapidly through the forecast period due to Chinas explosive growth. The latter was valued at over $36 million in 2013, a smaller size because cages are not necessarily indicated for all fusion procedures and they tend to be more affordable than a set of percutaneous pedicle screws. Both segments show great potential for MIS spinal implant manufacturers to increase their revenue and expand their presence.
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