ID: MRFR/HC/6758-HCR | 95 Pages | Published By Rahul Gotadki on March 2023
The Scoliosis Treatment Market will grow at a rate of 4.10 percent during Forecast 2020-2030.
Scoliosis Treatment Market Overview
The Scoliosis Treatment Market will grow at a rate of 4.10 percent during Forecast 2020-2030. The Scoliosis Treatment Market was valued at USD 2,580.2 million in 2018. The market is a growing one and will not stagnate over the forecast period. The Market for Scoliosis Treatment is a major healthcare segment for the global healthcare market. As global healthcare gains in importance, Market will also see growth and progress over many aspects. The Market will continue to grow even till 2028 despite the different challenges it operates under.
In this Scoliosis Treatment Market Report, we will discuss the key drivers of the market, the trends and regional segmentation of the market, and the overall potential of the Market in the future. Scoliosis is a disease that leads to spinal deformity and neural problems. Scoliosis is very common in children. Scoliosis is a health condition that leads to an abnormal curvature of the spine that alters the alignment of the vertebrae. Scoliosis has a huge impact on a person’s posture and balance because of the curving of the spinal axis. Scoliosis is less prevalent in adults. More teens suffer from the disease.
Scoliosis can arise from a birth defect, being congenital in nature. The disease can also be idiopathic. There are many causes of Scoliosis. These causes are weak ligaments, spondylolysis, bad posture, etc. When the patient suffers from Scoliosis, the person needs to undergo treatment. The treatment usually includes the use of braces. Braces keep the spine in its place and fix the body alignment. The braces have to be worn all the time. In severe cases, the Scoliosis management technique changes a lot. The patient with a severe case of Scoliosis needs to go through surgery. The doctor puts in implants to support the spine.
COVID 19 impact
The COVID 19 pandemic has impacted every other market in the world. The Market is no stranger to the impact of the COVID 19 pandemic. The Scoliosis Treatment industry saw an initial dip due to the impact of the pandemic. This was because most of the healthcare resources were channeled into COVID 19 treatment. This put other healthcare markets at a growth disadvantage. The immediate impact of the pandemic has been bad for the Market.
However, the long-term impact of the COVID 19 impact is increased attention to healthcare. There is a focus on complete wellbeing that was not present before. People are more aware of their healthcare needs and take multiple approaches to cure a disease. While the COVID 19 virus remains a primary concern, people’s attention towards overall wellbeing means that the Scoliosis Treatment Market has the advantage to work with. Due to the research and development of alternative approaches to Scoliosis disease management, the Market will grow.
There are certain drivers of the Scoliosis Treatment Market that influence the market in a major way. Advancement in general in the Scoliosis Treatment industry applications and the increased incidence of Scoliosis in children and adults drive the growth of the market. The Market Growth will be supported by the advancement of new approaches to Scoliosis Treatment. The incidence of Scoliosis disease in the global population is also a key driver for the Market Size. According to the Clear Scoliosis Institute, Scoliosis is the most common type of spinal deformity among school children. In fact, every year nearly 17, 500 emergency visits happen from Scoliosis in children. With such prevalence of Scoliosis in small children, the Market grows through the forecast period.
The increased incidence of adult scoliosis due to lifestyle issues is also an opportunity for Scoliosis Treatment Market growth. Adults suffer from Scoliosis due to different reasons such as bad posture, lifestyle changes, and way too much stress to the spine. Adult scoliosis patients need long-term care. This means that an average adult scoliosis patient will require prolonged treatment and medical attention. Therefore, the Scoliosis Treatment Industry will benefit from a single Scoliosis patient for a long time.
There are some restraints in the Scoliosis Treatment Market that hamper the growth of the market. The presence of rashes and skin irritation due to Scoliosis Treatment approaches like braces are one market restraint. The braces are long-term care options that will cause skin rash and irritation in many people. Therefore, the braces are not comfortable to wear. This creates a hindrance for the adoption of Scoliosis Treatment approaches by patients. This leads to a decrease in a brace and other implant sales. An inherent fear of spinal surgery among people, especially parents of young children, is also a market restraint for the Scoliosis Treatment Industry.
Challenges in the market
The challenges in the Scoliosis Treatment Market that need to be addressed are lack of awareness and lack of options. A larger section of the patient population is not aware of the treatment options they have to treat Scoliosis. This leads to the disease becoming chronic for people. On the other hand, this means that they do not really seek treatment for the disease. This takes away the opportunity of expansion for the Scoliosis Treatment Industry Size. Another challenge is the limited options of Scoliosis Treatment. There is a lack of options which has led to the high cost of treatments in the sector. If there is ample research and development, the Scoliosis Treatment Industry will see more accessibility and Scoliosis Treatment Industry Growth. This will happen as an increased number of people goes for Scoliosis Treatment approaches.
Cumulative Growth Analysis
The Scoliosis Treatment Market has great growth prospects in the future, provided the market challenges are resolved. The market will see an organic growth spurt because of increased awareness of health conditions and treatments on a global scale. On the other hand, according to Scoliosis Treatment industry Analysis, the growth trends will not be uniform.
The Scoliosis Treatment Market divides into different segments based on different categories. The major categories of the Market Analysis by segment are disease, product, and distribution channels.
By disease- By disease, the Market divides into infantile idiopathic Scoliosis and adult idiopathic Scoliosis.
By Product- The Market divides into cervical, thoracic, CTLSO, TLSO, and LSO approaches.
By distribution channel- By distribution channels, the major channels for Scoliosis Treatment approaches are hospitals, clinics, and pharmacies.
The regional analysis of the Market is stated below.
The Scoliosis Treatment Market disperses over different regions of the world. The classification of the Scoliosis Treatment Industry according to regions includes North America, Europe, Asia Pacific, Middle East, and African region. The North American region will have the highest Scoliosis Treatment Industry share due to many reasons. The European market also shows promising signs of growth in the Scoliosis Treatment Industry Forecast period. The Asia Pacific region also has moderate growth projections in the future. However, the African region will have the lowest growth rate in the Scoliosis Treatment Industry share.
There are many key players in the Market that dominate the competitive landscape for the market.
The key players of the Scoliosis Treatment Market segment are as follows:
The key players of the Scoliosis Treatment Industry are taking up further research and development to support the sector. The competitors are getting into collaborations and acquisitions. There are some who are merging too. For example, in 2020, Convexity Scientific acquired Wellinks Inc. In March 2019, another company Green Sun Medical conducted a pilot study into Dynamic Scoliosis Braces to introduce this new tech into the market.
The Scoliosis Treatment Market Outlook or overview is as follows
This report focuses on the Scoliosis Treatment Market trends and their growth projections. It highlights the key drivers, significant opportunities for growth, and presents market challenges of the Scoliosis Treatment Industry. Thirdly, it discusses the segmentation of the Scoliosis Treatment Industry over various benchmarks and segments. Additionally, the Scoliosis Treatment Industry Outlook sheds more light on the competitive landscape and recent developments of the market. It creates an overall reading of the Scoliosis Treatment Industry trends and future possibilities for the readers.
|Market Size||2030: Significant value|
|CAGR||4.10 (2020- 2030)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Disease, Product, Distribution Channel, Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||NuVasive, Spinal Technology, Inc., C H Martin Company, Aspen Medical Products, Lawall Prosthetics and Orthotics, SPINEFORM LLC, Össur, Orthotech, Chaneco, Boston Orthotics & Prosthetics, Charleston Bending Brace, Trulife, DJO, Wilmington Orthotics & Prosthetics, Inc., Horton's Orthotics & Prosthetics, UNYQ, Optec USA, Inc., and Zimmer Biomet Holdings Inc.|
|Key Market Opportunities||The increased incidence of adult scoliosis due to lifestyle issues such as bad posture, lifestyle changes, and way too much stress to the spine.|
|Key Market Drivers||
The scoliosis treatment market is projected to grow at a 4.10% CAGR between 2020-2030.
The Americas are predicted to have the largest share in the scoliosis treatment market.
Rising prevalence of scoliosis & musculoskeletal disorders and growing demand for spine injuries are boosting market growth.
Lack of awareness and high cost may restrict market growth.
Hospitals and clinics will dominate the scoliosis treatment market?