Spinal fusion market value in China to grow to $665m by 2020

13th June 2014

China’s spinal fusion market value will grow from $226 million in 2013 to $665 million by 2020, at an impressive compound annual growth rate (CAGR) of 16.66 per cent, making it the fastest growing spinal fusion market in the world over the forecast period, says research and consulting firm GlobalData.

The company’s latest report* states that this exceptional growth will see China double its global market share from 5 per cent in 2013 to 10 per cent in 2020, driven by the number of surgical procedures more than tripling from approximately 46,000 in 2013 to an estimated 146,000 in 2020.

Joseph Gregory, GlobalData’s Analyst covering Surgical Devices, says: “The primary reason for China’s phenomenal growth is the increasing spinal fusion surgery procedure volumes, resulting from favourable reimbursement levels and patients’ willingness to undergo surgery with minimally invasive techniques.”

Additionally, GlobalData projects that the spinal plating systems market in China will increase from $66 million in 2013 to $199 million by 2020, at a higher CAGR of 17.08 per cent. This is substantially greater than the global average CAGR of 7.63 per cent in this key segment.

China’s growth coincides with a downturn for the US, which will see its dominance of the global market share decline from 71 per cent in 2013 to 63 per cent in 2020. Despite this, US-based companies have positioned themselves to take advantage of the soaring demand for spinal surgery in China. 

Gregory explains: “Medtronic Spine & Biologics, already the world’s market leader and in command of 32 per cent of the Asia-Pacific (APAC) spinal surgery market, is perfectly placed to capitalise on the burgeoning market in China, having acquired China Kanghui Holdings for $816 million in 2012.

“The acquisition was a strategic move to increase the company’s presence in China, as well as to complement its current orthopedic and spinal implant offerings. The move will allow Medtronic to become a larger player in orthopedics and spine fusion in the APAC region’s surrounding and emerging markets.”    

This report covers the three leading device categories: spinal plating systems, interbody cages and pedicle screw systems. It analyses the adoption of these implantables in one level, two level and three level surgeries, as well as analyses how these surgical trends vary globally in the 10 major markets (10MM: the US, France, Germany, Italy, Spain, the UK, Japan, Brazil, China and India).

This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts.





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