The global kyphoscoliosis treatment market is expected to witness significant growth in the coming years, driven by factors such as the increasing prevalence of kyphoscoliosis, advancements in treatment options, rising healthcare expenditure, increasing awareness about spinal disorders, and technological advancements.
According to a new market research report published by Future Market Insights, the global kyphoscoliosis treatment market is expected to grow at a CAGR of 5% from 2023 to 2033, reaching a market size of USD 4.89 Billion by 2033.
Kyphoscoliosis is a spinal disorder characterized by abnormal curvature of the spine, resulting in a range of symptoms such as back pain, respiratory problems, and limited mobility. The disorder can be caused by a range of factors, including congenital defects, neuromuscular disorders, and degenerative disc disease.
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The rising prevalence of kyphoscoliosis is expected to drive demand for kyphoscoliosis treatment options, including both surgical and non-surgical interventions. In addition, advancements in treatment options, such as spinal fusion, vertebroplasty/kyphoplasty, and orthotics, are likely to boost the market for kyphoscoliosis treatment as patients seek out more effective and personalized treatment options.
Furthermore, rising healthcare expenditure in developed and developing countries is expected to drive the growth of the kyphoscoliosis treatment market. As healthcare becomes more accessible and affordable, more patients are likely to seek treatment for kyphoscoliosis.
Increasing awareness about spinal disorders such as kyphoscoliosis is also expected to be a key driver of growth for the market. As more people become aware of the symptoms and causes of kyphoscoliosis, they are likely to seek medical attention for the disorder. This is expected to increase demand for kyphoscoliosis treatment options, further driving the growth of the market.
Technological advancements, such as 3D printing and robotics, are also expected to revolutionize the kyphoscoliosis treatment market. The development of advanced medical technologies is likely to increase treatment efficiency and reduce the risk of complications, driving market growth.
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Key Takeaways from the Market Study
- From 2018 to 2022, the kyphoscoliosis treatment market grew at a CAGR of 3.5%.
- The global kyphoscoliosis treatment market is expected to grow with a 5% CAGR during 2023 to 2033.
- As of 2033, the kyphoscoliosis treatment Market is expected to reach US$ 4.89 Billion.
- According to the FMI analysis, surgical treatment accounts for the largest market share.
- North America is expected to possess 40% market share for the kyphoscoliosis treatment market.
- The East & South Asia market is predicted to increase significantly throughout the forecast period, with a share of 20% during the forecast period.
“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fueling further clinical trials and research studies dedicated to discovering kyphoscoliosis treatment.” says an FMI analyst
Market Competition
Key players in the market include companies such as Competition Deep Dive, Aurobindo Pharma Limited, B. Braun Melsungen AG, Integra LifeSciences, Johnson and Johnson, Medtronic, MicroPort Scientific Corporation, Orthofix Holdings, Inc., Perrigo Company, Stryker Corporation, Teva Pharmaceuticals USA, Inc., along with healthcare providers and technology companies among other global players.
- In August 2020, The U.S. Food and Drug Administration gave the green light to Evrysdi (risdiplam) to treat spinal muscular atrophy (SMA), a rare genetic disease that can be fatal, in patients aged two months and above. This marks the first oral medication and second treatment to receive approval for SMA. This application received fast track designation and priority review from the FDA, as well as orphan drug designation, which provides incentives for rare disease drug development. The Rare Pediatric Disease Priority Review Voucher was granted to the application. The FDA granted Genentech, Inc. the approval of Evrysdi. The FDA is a branch of the U.S. Department of Health and Human Services that ensures the safety, efficacy, and security of human and veterinary drugs, vaccines, and other biological products for human use, as well as medical devices to safeguard public health.
More Insights Available
FMI, in its new offering, presents an unbiased analysis of the global kyphoscoliosis treatment market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights on the basis of type, treatment, end-user & Region.
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Key Segments Profiled in the Kyphoscoliosis Treatment Industry Survey
Type:
- Postural Kyphosis
- Scheuermann’s Kyphosis
- Congenital Kyphosis
Treatment:
- Medications
- Surgery and Bracing
End-User:
- Hospital
- Clinics
- Ambulatory Surgical Centres
About FMI:
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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