China and Taiwan Markets for Minimally Invasive Spinal Devices 2014 (Forecasted to 2020) – MedSuite

China and Taiwan Markets for Minimally Invasive Spinal Devices 2014 (Forecasted to 2020) – MedSuite

0

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 China’s 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 China’s 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.
China’s 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 China’s 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.



DePuy Synthes
Medtronic
Stryker
Domestic Competitors




Our reports follow an in-depth 9-step methodology which focuses on the following research systems:

  • Original primary research that consists of the most up-to-date market data
  • Strong foundation of quantitative and qualitative research
  • Focused on the needs and strategic challenges of the industry participants

Step 1: Project Initiation & Team Selection During this preliminary investigation, all staff members involved in the industry discusses the topic in detail.

Step 2: Prepare Data Systems and Perform Secondary Research The first task of the research team is to prepare for the data collection process: Filing systems and relational databases are developed as needed.

Step 3: Preparation for Interviews & Questionnaire Design The core of all iData research reports is primary market research. Interviews with industry insiders represent the single most reliable way to obtain accurate, current data about market conditions, trends, threats and opportunities.

Step 4: Performing Primary Research At this stage, interviews are performed using contacts and information acquired in the secondary research phase.

Step 5: Research Analysis: Establishing Baseline Estimates Following the completion of the primary research phase, the collected information must be synthesized into an accurate view of the market status. The most important question is the current state of the market.

Step 6: Market Forecast and Analysis iData Research uses a proprietary method to combine statistical data and opinions of industry experts to forecast future market values.

Step 7: Identify Strategic Opportunities iData analysts identify in broad terms why some companies are gaining or losing share within a given market segment.

Step 8: Final Review and Market Release An integral part of the iData research methodology is a built-in philosophy of quality control and continuing improvement is integral to the iData philosophy.

Step 9: Customer Feedback and Market Monitoring iData philosophy of continuous improvement requires that reports and consulting projects be monitored after release for customer feedback and market accuracy.

Click Here to Read More About Our Methodology

Not Exactly What You Need?
close-link
close-link
close-link

Subscribe to MedTech Market News - Get exclusive analyst articles, monthly newsletters and iData offers

close-link
close-link