Spinal Implants | Market Insights | Asia Pacific | 2023
The COVID-19 pandemic impacted the Asia Pacific spinal implant market in the short term, slowing growth due to deferral of elective procedures accompanied by supply chain issues and pricing pressures. Beyond the COVID-19 pandemic, the Asia Pacific spinal implant market experienced particularly strong growth in 2021 as deferred procedures were rescheduled. The market will continue to experience strong growth throughout the forecast period. Although the crisis has significantly impacted the market in the short-term, other factors will continue to drive market growth over the forecast period. In particular, spinal implant market expansion will be driven by the uptake of premium innovations such as 3-D printed implants, nonfusion technologies, and minimally invasive devices. Nonetheless, challenging reimbursement environments, and nationalist policies in China and India and implant commoditization will limit overall market potential. Going onwards in coming forecasted year, the market revenue growth might be hampered to some extent by pricing constraints, particularly in China, where a volume-based procurement initiative will expand to a wider range of orthopedic devices.
This Medtech 360 Report provides comprehensive data and analysis on the current state of the market for spinal implants in the Asia Pacific region from 2019 through 2031.
