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The South Korean Spinal Surgery Devices Market is segmented by Device Type (Spinal Decompression, Spinal Fusion, Fracture Repair Devices, and Other Device Types).
The population of South Korea is aging rapidly, owing to reduced birth rates and increasing life expectancy. The demographic trend toward an aging population represents a growing need for the management of old age-associated spine disorders. South Korea has a higher number of geriatric population than young people. According to the Korean Statistical Information Service (KOSIS), it was estimated that the old age population in South Korea comprised about 14.9% of the total population in 2019. The higher geriatric population is expected to impact the prevalence of spinal-related disorders and will have significant effects on bone density. These physiological changes, along with prolonged exposure to risk factors and increasing burden of spine disorders, require surgical intervention. Hence, the aforementioned factors, such as the rising geriatric population, along with the increasing demand for minimally invasive devices, are likely to propel market growth.
As per the scope of the report, the spinal surgery devices market is significant and has evolved into one of the major segments of the orthopedic industry. Spinal surgery is traditionally performed as open surgery, wherein a long incision allows a surgeon to access the spinal anatomy of a body.
|By Device Type|
|Fracture Repair Devices|
|Other Device Types|
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The spinal fusion segment is sub-segmented into cervical fusion, interbody fusion, thoracolumbar fusion, and other spinal fusions. The growth of the interbody fusion sub-segment is mainly attributed to the rising number of spinal injuries and increasing geriatric population. Interbody fusion places the bone graft between vertebrae in the area usually occupied by the intervertebral disc; fusion then occurs between endplates of the vertebrae. Many products available in the market provide conventional, yet effective treatments to patients. The significant advancements in the field of spinal surgery devices are expected to contribute toward market expansion. Hence, owing to the aforementioned factors, the segment is believed to witness rapid growth over the forecast period.
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The global players in the South Korean spinal surgery devices market are B. Braun Melsungen AG, Globus Medical Inc., Johnson & Johnson, Medtronic PLC, Styker Corporation, and Zimmer Biomet.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Geriatric Population
4.2.2 Increasing Demand for Minimally Invasive Devices
4.3 Market Restraints
4.3.1 High Treatment Cost
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Device Type
5.1.1 Spinal Decompression
220.127.116.11 Other Spinal Decompressions
5.1.2 Spinal Fusion
18.104.22.168 Cervical Fusion
22.214.171.124 Interbody Fusion
126.96.36.199 ThoracoLumbar Fusion
188.8.131.52 Other Spinal Fusions
5.1.3 Fracture Repair Devices
5.1.4 Other Device Types
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 B. Braun Melsungen AG
6.1.2 Globus Medical Inc.
6.1.3 Johnson & Johnson
6.1.4 Medtronic PLC
6.1.5 Styker Corporation
6.1.6 Zimmer Biomet
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape Covers- Business Overview, Financials, Products and Strategies, and Recent Developments