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South Korea Spinal Surgery Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The South Korean Spinal Surgery Devices Market is segmented by Device Type (Spinal Decompression, Spinal Fusion, Fracture Repair Devices, and Other Device Types).

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Market Snapshot

CAGR
Study Period: 2018 - 2026
Base Year: 2020
CAGR: 3.2 %

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Market Overview

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.

Scope of the report

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
Spinal Decompression
Corpectomy
Discectomy
Laminotomy
Other Spinal Decompressions
Spinal Fusion
Cervical Fusion
Interbody Fusion
ThoracoLumbar Fusion
Other Spinal Fusions
Fracture Repair Devices
Other Device Types

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Key Market Trends

Interbody Fusion Sub-segment is Expected to Show Better Growth over the Forecast Period

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.

South Korea Spinal Surgery Devices Market 1

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Competitive Landscape

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.

South Korea Spinal Surgery Devices Market 2.png

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Geriatric Population

      2. 4.2.2 Increasing Demand for Minimally Invasive Devices

    3. 4.3 Market Restraints

      1. 4.3.1 High Treatment Cost

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Device Type

      1. 5.1.1 Spinal Decompression

        1. 5.1.1.1 Corpectomy

        2. 5.1.1.2 Discectomy

        3. 5.1.1.3 Laminotomy

        4. 5.1.1.4 Other Spinal Decompressions

      2. 5.1.2 Spinal Fusion

        1. 5.1.2.1 Cervical Fusion

        2. 5.1.2.2 Interbody Fusion

        3. 5.1.2.3 ThoracoLumbar Fusion

        4. 5.1.2.4 Other Spinal Fusions

      3. 5.1.3 Fracture Repair Devices

      4. 5.1.4 Other Device Types

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 B. Braun Melsungen AG

      2. 6.1.2 Globus Medical Inc.

      3. 6.1.3 Johnson & Johnson

      4. 6.1.4 Medtronic PLC

      5. 6.1.5 Styker Corporation

      6. 6.1.6 Zimmer Biomet

      2. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape Covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The South Korea Spinal Surgery Devices Market market is studied from 2018 - 2026.

The South Korea Spinal Surgery Devices Market is growing at a CAGR of 3.2% over the next 5 years.

B. Braun Melsungen AG, Johnson & Johnson, Medtronic PLC, Styker Corporation, Zimmer Biomet are the major companies operating in South Korea Spinal Surgery Devices Market.

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