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Kyphoscoliosis Treatment Market 2024 - By Analysis, Industry Trends, Growth And Forecast To 2033
Kyphoscoliosis Treatment Market
According to The Business Research Company's, The kyphoscoliosis treatment market size has grown strongly in recent years. It will grow from $2.89 billion in 2023 to $3.08 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to exploration of regenerative medicine, genetic research contributions, telemedicine and remote monitoring, advancements in rehabilitation programs..
The kyphoscoliosis treatment market size is expected to see strong growth in the next few years. It will grow to $3.84 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to personalized treatment approaches, expansion of biomechanical research, remote monitoring and telehealth services, continued genetic research.. Major trends in the forecast period include advanced surgical techniques, innovative bracing technologies, customized treatment plans, adoption of 3d printing, pain management innovations..
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Market Drivers and Trends:
The rising number of spinal cord injuries is expected to propel the growth of the kyphoscoliosis treatment market going forward. Spinal cord injuries refer to any trauma, damage, or harm to the spine's structures, including the bones (vertebrae), intervertebral discs, ligaments, muscles, nerves, and other supporting structures, which result in the emergence of kyphoscoliosis and ultimately cause alterations in spinal alignment. Treatment for kyphoscoliosis associated with spinal cord injuries involves a comprehensive approach, including orthopedic evaluation, physical therapy, bracing, potential surgery, pain management, and a multidisciplinary healthcare team focusing on patient education and individualized care plans. For instance, in October 2022, according to a report published by the New Zealand Spinal Trust, a New Zealand-based non-profit organization dedicated to assisting individuals with spinal cord injuries, the incidence of sporting and recreational spinal cord injuries (SCI) experienced a rise, increasing from 14% in 2020 to 19% in 2021. Wheeled non-motorsports (such as mountain biking and cycling) accounted for 25% of these injuries, followed by water-related accidents (18%) and horse-related accidents (14%). Therefore, the rising number of spinal cord injuries is driving the growth of the kyphoscoliosis treatment market.
Major companies operating in the kyphoscoliosis treatment market are developing innovative products, such as the MARVEL growing rod system, designed specifically for early-onset scoliosis. The MARVEL Growing Rod System is a posterior stabilizing rod that may be surgically implanted and periodically stretched by hand-operated mechanical actuation. For instance, in July 2023, Globus Medical Inc., a US-based medical device company, launched MARVEL Growing Rod System. It is intended to help patients under 10 with early-onset scoliosis achieve and sustain correction while permitting ongoing development using minimally invasive distraction. It offers substantial diversion, immediate tactile feedback, and automated locking, enabling dependable growth. One of the cutting-edge items is the Growing Rod System, which is anticipated to aid in the future expansion of the business.
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Major Key Players of the Market:
Johnson & Johnson Services Inc., Aspen Medical Products LLC, Medtronic plc, Stryker Corporation, Milwaukee Brace Company, Zimmer Biomet Holdings Inc., Perrigo Company plc, Teva Pharmaceuticals Inc., B. Braun Melsungen Aktiengesellschaft, Aurobindo Pharma Limited, Integra LifeSciences Ltd., NuVasive Inc., DJO Global Inc., Globus Medical Inc., Boston Orthotics & Prosthetics, Ossur hf., Aesculap Inc., DeRoyal Industries Inc., MicroPort Scientific Corp., Alphatec Holdings Inc., Trulife Ltd., Ottobock SE & Co. KGaA, Orthofix Holdings Inc., OrthoPediatrics Corp., Proteor S.A., Orthomerica Products Inc., Breg Inc., Innomed Inc., Restorative Care of America Inc., Spinal Elements Inc.
Kyphoscoliosis Treatment Market 2024 Key Insights:
• The kyphoscoliosis treatment market is expected to grow to $3.84 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• Surge In Spinal Cord Injuries Driving Growth In The Kyphoscoliosis Treatment Market
• Innovative Growing Rod System Revolutionizes Early-Onset Scoliosis Treatment
• North America was the largest region in the kyphoscoliosis treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
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