Here are eight predictions about the China spinal fusion market based on a Future Market Insights report featured in MedGadget.
1. The China spinal fusion market is expected to have double-digit growth due to the number of surgeries increasing. Surgery volume is up from advanced technology and minimally invasive techniques with reduced cost.
2. The market is currently experiencing a "new product development and technological advancement" phase and manufacturing companies are raising their respective market share with aggressive marketing and increased research and development.
3. The increased aging population with spinal disease and related injuries as well as the rising income in the Chinese populace is also driving growth. But, the population is price-sensitive and treatment prices are expected to drop considerably in the future as competition in the market increases.
4. The younger adult populace is more accepting of minimally invasive surgery and new implant materials across China.
5. The Chinese government has taken initiatives to stimulate economic growth, which resulted in a large number of previously untreated spinal disease patients in the rural populace to have access to minimally invasive spine surgery.
6. The market is facing challenges with reimbursement cuts and heavy regulations from the government, high surgery costs and risk involved with spine surgery.
7. There is also growing awareness of artificial disc, posterior dynamic stabilization and disc regeneration as alternatives to fusion, which could have a slowing impact on the Chinese spinal fusion market.
8. Key players in the market are Trauson, DePuy Synthes, Biomet, Medtronic, NuVasive, Stryker, Zimmer, Orthofix, B.Braun Aesculap and Weigao Orthopaedic Device.