At 4.3% CAGR, Asia Pacific Explosion Pectus Bar Market is Projected to be Worth US$ 17,452.61 Thousand by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific pectus bar market was valued at US$ 12,504.46 thousand in 2023 and is expected to reach US$ 17,452.61 thousand by 2031, registering a CAGR of 4.3% from 2023 to 2031. Use of biocompatible materials and growing preference for minimally invasive procedures are among the critical factors attributed to drive the Asia Pacific pectus bar market growth.

Pectus bars are typically made of stainless steel that contains nickel and chromium components. These components can cause allergic reactions, leading to fever and allergic dermatitis. Due to allergic complications of stainless steel bars, titanium bars are being preferred across the globe. However, the cost of titanium is higher and also, they are less plastic i.e. they cannot adjust according to the structure of chest which has a negative impact on stabilizing the bar. Thus, various biodegradable materials are now being used to develop pectus bars. Recently, polylactide (PLA) and polylactic-co-glycolic acid (PLGA) have gained traction in the manufacturing of absorbable pectus bars. PLA is biodegradable and inactive thermoplastic aliphatic polyester derived from renewable resources such as cornstarch. PLGA presents sustainable drug-eluting capacities that provide controlled delivery of various pharmaceuticals and biomolecules (such as growth factors) for enhancing bone healing, extended discharge of antimicrobial agents for infection control, and biomimetic mats for tendon/ligament repairs. Using biocompatible materials is favorable as they are directly absorbed in the body, owing to which a second surgical procedure can be avoided for the removal of pectus bars. Furthermore, these materials can be combined with pharmaceuticals for healing and have similar elastic modulus to bone, which can minimize stress shielding. Thus, the increasing focus on using biocompatible materials that are more effective and cost-efficient for manufacturing pectus bars is fueling the market growth.

On the contrary, post surgical complications hamper the growth of Asia Pacific pectus bar market.

Based on type, the Asia Pacific pectus bar market is bifurcated into titanium and stainless steel. The titanium segment held 65.7% market share in 2023, amassing US$ 8,213.28 thousand. It is projected to garner US$ 11,765.51 thousand by 2031 to register 4.6% CAGR during 2023–2031.

By end user, the Asia Pacific pectus bar market is segmented into hospitals, specialty clinics, and others. The hospitals segment held 59.2% share of Asia Pacific pectus bar market in 2023, amassing US$ 7,403.43 thousand. It is anticipated to garner US$ 10,498.64 thousand by 2031 to expand at 4.5% CAGR during 2023–2031.

By country, the Asia Pacific pectus bar market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 36.3% share of Asia Pacific pectus bar market in 2023. It was assessed at US$ 4,541.62 thousand in 2023 and is likely to hit US$ 6,472.63 thousand by 2031, registering a CAGR of 4.5% during 2023–2031.

Key players operating in the Asia Pacific pectus bar market are KLS Martin Group, Biotech GmbH, Zimmer Biomet Holdings Inc, and Ventura Medical Technologies, among others.

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