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GlobalData : Asia-Pacific pedicle screw-based dynamic stabilization systems market to surpass $19 million by 2023

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07/19/2017 | 12:18pm CET

The pedicle screw-based dynamic stabilization systems space across the seven major Asia-Pacific (APAC) markets of Australia, China, India, Japan, New Zealand, South Korea and Taiwan, is set to rise from $12.5 million in 2016 to $19.2 million by 2023, representing a compound annual growth rate (CAGR) of 6.3%, according to research and consulting firm GlobalData.

The company's latest report states that key drivers of this growth include the rising prevalence of degenerative spinal conditions due to the increasing aging population and the system's advantages over traditional spinal fusion procedures, including motion preservation.

Jennifer Ryan, Healthcare Analyst for GlobalData, explains: 'Future adoption of pedicle screw-based dynamic stabilization systems is highly dependent on the procurement of clinical efficacy data demonstrating support for device utilization.

'This is because, despite generating great enthusiasm upon their introduction to the market, pedicle screw-based dynamic stabilization systems have attracted concern over the long-term clinical efficacy of these devices, with reports emerging of devices loosening and failing. As such, spinal fusion remains the gold standard treatment for patients with degenerative spinal disorders.'

In terms of key players, the pedicle screw-based dynamic stabilization systems market is fairly consolidated, with the majority of players consisting of well-established orthopedic and spine companies. Zimmer Biomet's Dynesys system is the principal player worldwide, and systems from Globus Medical and Paradigm Spine are also highly utilized.

Ryan continues: 'Lingering questions about the clinical effectiveness of these pedicle screw-based dynamic systems is a major setback threatening the continued adoption of currently marketed devices. GlobalData believes the use of clinical trials focused on efficacy will be an important factor in the future of pedicle-screw based dynamic stabilization systems' adoption and reimbursement.'

In terms of individual countries, China represented the largest portion of the market in 2016, holding just over 40% of the regional revenue, and is expected to maintain this dominance throughout the forecast period. India is expected to be the fastest-growing market through 2023, at a CAGR of 7.9% while the slowest growth will be observed will be observed in New Zealand at a CAGR of 3.7%.

- Information based on GlobalData's report: MediPoint: Pedicle Screw-Based Dynamic Stabilization Systems - APAC Analysis and Market Forecasts.

GlobalData plc published this content on 17 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 19 July 2017 10:18:07 UTC.

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Sales 2017 118 M
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