Rockville, MD, Oct. 22, 2024 (GLOBE NEWSWIRE) — According to a new industry report released by Fact.MR, the global scoliosis management market is estimated at US$ 3.05 billion in 2024 and is forecasted to reach US$ 4.39 billion by the end of 2034.
Increasing use of orthopedic implants, rise in the number of scoliosis surgeries, and the development of scoliosis spinal systems with MRI condition clearance are set to drive the growth of the global market over the coming years. Additionally, rising prevalence of idiopathic and congenital scoliosis, particularly in adolescents, will complement market expansion.
- The American Association of Neurological Surgeons (AANS) estimates that around 3% of the population in the United States suffers from scoliosis. Approximately 600,000 patients visit private facilities annually, over 30,000 teenagers wear braces, and approximately 38,000 patients have spinal fusion procedures performed in the country every year.
Increasing aging population has a significant influence on the scoliosis market because degenerative forms of the disorder become more prevalent as people age. Several industry players are investing in R&D to broaden the range of the products they sell. The market is expanding and becoming more competitive, which is leading to the making products at a fair price and benefiting patients.
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Key Takeaways from Market Study
- The global scoliosis management market is projected to expand at a CAGR of 7% from 2024 to 2034.
- The market is calculated to reach US$ 4.39 billion by the end of 2034.
- The market in the United States is set to reach a value of US$ 979 million in 2024.
- Brazil is estimated to account for 2% share of the market in Latin America in 2024.
- Revenue from the sales of scoliosis management solutions in Canada is set to reach US$ 189 million in 2024.
- The Latin American market is evaluated to expand at a CAGR of 6% from 2024 to 2034.
“Degenerative forms of scoliosis become more common with age. Advancements in treatment methodologies and increasing awareness are contributing to the growth of the market,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Scoliosis Management Market:
Key industry participants like DJO Global; TRULIFE; Wellinks, Inc.; Horton’s Orthotics & Prosthetics; Boston O&P; Bauerfeind AG; Spinal Technology Inc.; GE Healthcare; Zimmer Biomet; Medtronic; Exponent Inc., etc. are driving the scoliosis management industry.
Early Diagnosis of Juvenile Scoliosis Prompting Timely Intervention
Juvenile scoliosis is diagnosed between the ages of 5 and 5. At this age, scoliosis tends to grow more quickly. Young people who have scoliosis usually bend to the right. Patients undergoing brace treatment have their spines strengthened and the progressive nature of scoliosis stopped, as the condition worsens with age. Due to variations in the child’s degree of curvature, the braces may need to be changed every 12 to 18 months, which is driving market growth.
- The American Association of Neurological Surgeons (AANS) states that scoliosis is equally common in both genders and typically first appears in individuals between the ages of 10 and 15.
Scoliosis Management Industry News:
Key players in the scoliosis management market are prioritizing research and development to enhance their product offerings. Significant market developments include mergers, acquisitions, and collaborations with other organizations. To thrive in an increasingly competitive landscape, producing affordable products is essential. Many companies are also forming partnerships with local distributors and retailers to strengthen their global presence. Recently, NuVasive Inc. launched MAGEC X in the United Kingdom for treating early-onset scoliosis.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the scoliosis management market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges the scoliosis management market based on indication (cervical thoracic lumbar, thoracolumbosacral orthosis, lumbosacral orthosis), age group (infantile scoliosis, juvenile scoliosis, adolescent scoliosis), and distribution channel (hospital pharmacies, retail pharmacies, online sales), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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