Dynamic Spinal Tethering System Market to Grow with a CAGR of 11.13% through 2028
Rising
prevalence of spinal deformities, technological advancements, and reduced
invasiveness are expected to drive the Global Dynamic Spinal Tethering System Market
growth in the forecast period, 2024-2028.
According to
TechSci Research report, “Dynamic Spinal Tethering System Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global Dynamic Spinal Tethering System Market stood at USD 110.51 million
in 2022 and is anticipated to grow with a CAGR of 11.13% in the forecast
period, 2024-2028. This can be attributed to Clinical Evidence and Research. Ongoing
clinical studies and research efforts have provided substantial evidence
supporting the efficacy and safety of dynamic spinal tethering systems. As more
data becomes available, it further bolsters the confidence of both healthcare
providers and patients in these procedures.
Furthermore,
healthcare providers are increasingly adopting value-based models that
prioritize outcomes and cost-effectiveness. Dynamic spinal tethering systems,
with their potential for shorter hospital stays and reduced complications,
align well with these models.
A dynamic spinal
tethering system is an apparatus utilized to align the spinal columns of
individuals afflicted with scoliosis, kyphosis, and various other forms of
spinal deformities. These systems are specifically tailored for adult patients
experiencing severe or advancing conditions that are not amenable to surgical
intervention.
The Global Dynamic
Spinal Tethering System Market is segmented into indication, component,
end-user, regional distribution, and company.
Based on its indication,
Scoliosis is poised to dominate the Global Dynamic Spinal Tethering System
Market in 2022 and maintain its dominance in the coming forecast years for
several compelling reasons. Firstly, scoliosis is a prevalent spinal condition
affecting millions worldwide, particularly among adolescents. This widespread
occurrence creates a significant demand for innovative treatment options, such
as dynamic spinal tethering, which offers a less invasive alternative to
traditional spinal fusion surgery. Additionally, the technology behind dynamic
spinal tethering continues to advance, making the procedure safer and more
effective, thereby bolstering its appeal to both patients and healthcare
providers. Furthermore, as the global healthcare landscape evolves with a
growing emphasis on minimally invasive and patient-centric approaches, dynamic
spinal tethering aligns with these trends, further solidifying its position as
a leading choice for scoliosis management. All these factors combined make it
highly likely that scoliosis will maintain its dominance in the Global Dynamic
Spinal Tethering System Market in the years to come.
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Based on region,
North America is poised to dominate the Global Dynamic Spinal Tethering System
Market in 2022 for several compelling reasons. Firstly, the region boasts a
robust healthcare infrastructure with advanced medical facilities and a strong
focus on innovation. This environment fosters the development and adoption of
cutting-edge medical technologies like dynamic spinal tethering systems.
Secondly, North America has a relatively higher incidence of scoliosis cases,
particularly in the United States and Canada, compared to other regions. This
higher prevalence generates a substantial patient pool seeking scoliosis
treatment, including dynamic spinal tethering, thereby driving market growth.
Additionally, the region benefits from favorable reimbursement policies and a
well-established healthcare insurance system, making it more accessible for
patients to opt for these advanced treatments. The presence of leading medical
device manufacturers, research institutions, and skilled healthcare
professionals further contributes to North America's dominance in the Global
Dynamic Spinal Tethering System Market. These factors collectively position the
region as a dominant player in this market and suggest it will continue to
maintain its leading position in the foreseeable future.
Major companies
operating in Global Dynamic Spinal Tethering System Market are:
- ApiFix Ltd
- Zimmer Biomet Holdings Inc
- Auctus Inc
- NuVasive Inc
- Medtronic Inc
- Globus Medical Inc
- IntuitiveX
- Alphatec Holdings Inc
- Stryker Corp
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“The global
dynamic spinal tethering system market is on the cusp of significant
transformation. With a focus on personalization, minimally invasive approaches,
and improved materials, dynamic spinal tethering systems are poised to offer
even more effective solutions for individuals with spinal deformities. As the
market continues to innovate and expand, it holds the promise of improving the
quality of life for countless patients around the world,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Dynamic Spinal Tethering System Market By Indication
(Kyphosis, Scoliosis), By Component (Anchors, Bone Screws, Cord or Connector,
Set Screws), By End-User (Hospitals & Specialty Clinics, Ambulatory Care
Centers, Others), By Region, By
Competition Forecast & Opportunities, 2018-2028F”,
has evaluated the future growth potential of Global Dynamic Spinal Tethering
System Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Dynamic Spinal
Tethering System Market.
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