With increasing manufacturing costs, medical device manufacturers struggle to generate enough revenue to please their investors. The emerging markets in developing economies are crucial in offering better and more lucrative growth opportunities to major players to expand their business and geographic reach. The treatment of orthopedic conditions has become simpler with the help of advanced medical technologies. Minimally invasive surgeries such as artificial cervical intervertebral disc replacement surgery have reduced the consumption of heavy-dose medicines. The adoption of these orthopedic surgeries is likely to increase in Asia Pacific.
The investment in the healthcare sector is more in Asia Pacific. Governments in this region are aggressively creating awareness regarding minimally invasive orthopedic surgeries through various initiatives. The healthcare expenditure in economies, such as India, China, and others, is growing, which has created many opportunities, thereby providing better services. These countries are witnessing an increase in adult and geriatric populations. Therefore, the incidences of orthopedic conditions are likely to increase. Also, there is a rise in the number of start-up companies operating in healthcare sectors in countries such as India and China.
In addition, the availability of technologically advanced infrastructure is likely to boost the local players in manufacturing advanced orthopedic products. Therefore, the market in developing countries is likely to show high growth potential over the next few years.
Asia Pacific Artificial Cervical Intervertebral Disc Market Segmentation
The Asia Pacific artificial cervical intervertebral disc market is analyzed on the basis of material, end user, and country. Based on material, the market has been bifurcated into biopolymer and metal. In 2022, the biopolymer material segment held a larger market share. Based on end user, the market is segmented into hospitals, ambulatory surgical centers, and others. In 2022, the hospitals segment held the largest market share.
Based on country, the Asia Pacific market is fragmented into Japan, China, India, Australia, South Korea, and the Rest of Asia Pacific. China will hold the largest market share by the end of 2022.
B. Braun Melsugen AG.; Globus Medical, Inc.; Medtronic; NuVasive, Inc.; Orthofix Medical, Inc.; and Zimmer Biomet Holdings, Inc. are the leading companies in the Asia Pacific artificial cervical intervertebral disc market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 369.24 Million |
| Market Size by 2028 | US$ 1,023.15 Million |
| CAGR (2021 - 2028) | 18.5% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Material
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
B. Braun Melsugen AG.Globus Medical, Inc.MedtronicNuVasive, Inc.Orthofix Medical, Inc.Zimmer Biomet Holdings, Inc.The Asia Pacific Artificial Cervical Intervertebral Disc Market is valued at US$ 369.24 Million in 2022, it is projected to reach US$ 1,023.15 Million by 2028.
As per our report Asia Pacific Artificial Cervical Intervertebral Disc Market, the market size is valued at US$ 369.24 Million in 2022, projecting it to reach US$ 1,023.15 Million by 2028. This translates to a CAGR of approximately 18.5% during the forecast period.
The Asia Pacific Artificial Cervical Intervertebral Disc Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Artificial Cervical Intervertebral Disc Market report:
The Asia Pacific Artificial Cervical Intervertebral Disc Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Artificial Cervical Intervertebral Disc Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Artificial Cervical Intervertebral Disc Market value chain can benefit from the information contained in a comprehensive market report.
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