Global Kyphosis Treatment Market - 2022-2029

Global Kyphosis Treatment Market - 2022-2029

Market Overview

The global kyphosis treatment market size was valued at US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

The condition of kyphosis is when the upper back becomes rounded. Round back is another name for this ailment. It's a prevalent condition in adolescence, but it can happen at any age. The condition is primarily caused by incorrect sitting posture. In some circumstances, there is no need for treatment.

Market Dynamics

With the rising prevalence of Kyphosis and rising healthcare costs, the demand for Kyphosis therapy has expanded dramatically, boosting the market growth. Furthermore, industry participants' increased R&D would open up new opportunities in the market.

The Increasing expenditure on healthcare sector will drive the market growth

The pharmaceutical industry's expansion is expected to propel the kyphosis treatment market forward in the upcoming years. In addition, the increasing rate of investment in the kyphosis medication market is predicted to boost growth prospects soon. In 2019, the pharmaceutical sector spent $83 billion on research and development. These costs were used to fund several operations, including the discovery and testing of novel medications, the development of incremental advancements such as product expansions, and clinical testing for safety and marketing considerations. After adjusting for inflation, that sum is around ten times the industry spent in the 1980s. The quality of medications and their use has increased throughout time due to the growing number of medical research projects. This has benefited in comprehending the benefits of various medications in the treatment of various chronic conditions. Furthermore, the market expansion is expected to increase research and development.

Furthermore, the proportion of the world's population aged 60 and up will nearly double from 12 percent to 22 percent between 2015 and 2050.By 2023, the number of persons aged 60 and more will outweigh youngsters under five.By 2050, 80% of the world's elderly will live in low- and middle-income countries.The population is aging at a considerably higher rate than in the past.(Source :World Health Organization), this population will more likely to be suffered by Kyphosis ,thus boosting the growth of kyphosis treatment market.

Lack of awareness is likely to hamper the market growth

The market's expansion would be hampered by a lack of awareness and restricted treatment alternatives.

COVID-19 Impact Analysis

During the COVID-19 pandemic, the kyphosis drugs market had shrinked significantly. The pandemic has made it tougher to bring new medications to market in the hopes of earning market share or reaching sales projections. Aside from new diagnoses and regimen switching, marketing channels aren't as strong as before the epidemic. The few open channels continue to be dominated by COVID-19 programming. COVID-19 has slowed down clinical trials across the board, notably those in the early stages of development. As traditional study sites closed, researchers were often unable to collect data remotely, and many patients became less willing to participate. Some therapeutic fields were particularly heavily damaged. While some development time can be made up, there are concerns about resource allocation and digital technology expenditures to keep trials running now and in the future.

Segment Analysis

The scheuermann segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

Based on type, it is bifurcated into postural kyphosis, scheuermann kyphosis and congenital kyphosis. The scheuermann kyphosis segment dominated the global market in 2020 and is anticipated to continue this trend during the forecast period. This is attributed to increase in geriatric population and incidences of the scheuermann kyphosis diseases. Scheuermann's kyphosis (kye-FOH-sis) is an upper back condition. It gives the upper back a rounded appearance, giving the appearance of being hunched over. Scheuermann's disease is another name for it.

Scheuermann's disease affects 0.4-8 percent of the population. Armbrecht et al. discovered that Scheuermann's disease in Europe is 8% in people aged 50 and up, with no difference between males and females..

Geographical Analysis

North America region holds the largest market share of the global Kyphosis treatment market

North America is anticipated to dominate the Kyphosis treatment market, globally. The factors attributed to the high growth of the region are the increasing number of kyphosis cases, increase in technological advancement, increase in genetic disorders and increase in geriatric population.

In addition, organic and inorganic strategies such as mergers and acquisitions and partnerships within key market players will strengthen their product portfolio in the studied market which will drive the market. Also, several product launches in the market will lead to lucrative growth of the market. For instance, B.Braun launched The PROSPACE® implant which is a solid titanium block used for lumbar and thoracic spine stabilization via a posterior approach, monosegmental or multisegmental. The implant is coated with the tried-and-true PLASMAPORE® coating to increase the contact area between the implant and the endplate and speed up solid osteointegration. PROSPACE stands for primary stability, restoration of natural lumbar lordosis, and long-term spinal balance maintenance. PROSPACE®, when combined with dependable and simple-to-use instrumentation, is the solution for successful thoracolumbar interbody fusion.

Competitive Landscape

The Kyphosis Treatment Market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include B. Braun Melsungen AG, Medtronic Plc, Perrigo Company, Taegeon Medical, OTIS Biotech Korea, Boston, Bayer, BASF, Dr.Reddy Laboratories, Tylenol among others.

The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the kyphosis treatment market globally. For instance, In September 2021, Spinal Elements, a spine technology company, announced the full commercial launch of the Luna XD multi-expandable lumbar interbody fusion device and Orbit articulating discectomy systems. Spinal Elements has integrated Luna XD and Orbit as the newest technologies in its MIS UltraTM platform of products and procedural solutions..

BASF

Overview:

BASF India Ltd. is an Indian chemical company. The company, part of the BASF Group, manufactures a wide range of products, including chemicals, plastics, performance products, crop protection products, and oil and gas. The company was founded in 1943, and its registered office is in Mumbai.

Product Portfolio:

Ibuprofen: Ibuprofen is a nonsteroidal anti-inflammatory drug (NSAID) medication used to treat pain, fever, and inflammation. Menstrual cramps, migraines, and rheumatoid arthritis are all examples of this. It can also be used to close a premature baby's patent ductus arteriosus. It can be taken orally or intravenously. It usually starts working within an hour.

Why Purchase the Report?

Visualize the composition of the global kyphosis treatment market segmentation by type, drug type, distribution channel, and region highlighting the key commercial assets and players.

Identify commercial opportunities in the global kyphosis treatment market by analyzing trends and co-development deals.

Excel data sheet with thousands of data points of global kyphosis treatment market-level 4/5 segmentation.

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

Product mapping in excel for the key product of all major market players

The global kyphosis treatment market report would provide access to an approximately 40+ market data table, 45+ figures, and in the range of 180-200 pages.

Target Audience

Service Providers/ Buyers

Industry Investors/Investment Bankers

Education & Research Institutes

Research Professionals

Emerging Companies

Manufacturers