Rise in Aging Population Driving Growth in the Asia Pacific Spinal Implant Market
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Added: 05/19/2006
Type: Summary
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Rise in Aging Population Driving Growth in the Asia Pacific Spinal Implant Market
Millennium Research Group (MRG), the global authority on medical technology market intelligence, reports that a rise in aging demographics, an enhancement in device design, greater use of instrumentation, and a more knowledgeable patient base will drive sales of the Asia Pacific spinal implant market over the coming years. According to the new report entitled Asia Pacific Markets for Spinal Implants 2006, the market, which includes Australia, Japan, and South Korea, was valued at over $300 million in 2005.
The report also found that Japan generates the majority of revenues within Asia Pacific.
“The lucrative nature of the Japanese spinal implant market is primarily attributed to the large segment of the Japanese over-65 cohort and to the country’s advanced health care system,” said Sarit Daniel, senior analyst at Millennium Research Group. “This market is, however, hindered by biennial decreases to reimbursement of spinal implants and by the lack of artificial disc technologies. In fact, the first commercial artificial disc in Japan will not be available before 2010.”
MRG’s Asia Pacific Markets for Spinal Implants 2006 report is part of the Global Markets for Spinal Implants series, which includes analysis on the United States, Canada, and Europe. The series covers various key industry competitors, such as Medtronic Sofamor Danek (MDT), DePuy (JNJ), Stryker (SYK), Synthes, Aesculap, Showa Medical, Japan MDM, Zimmer (ZHM), Solco Medical (KDQ), and Taylor Bryant.
About Spinal Implants
Spinal fusion is a surgical procedure performed to alleviate pain caused by pathologic conditions of the spine and to restore segmental stability and alignment. Spinal fusion may or may not include auxiliary instrumentation such as plates, screws, and cages; these devices serve to confine the vertebrae and the bone graft together while fusion is underway.
About Millennium Research Group
Millennium Research Group (www.mrg.net) is a leading provider of strategic information to the health care sector. Focused solely on the medical device, pharmaceutical, and biotechnology industries, the company provides its clients with the benefits of its specialized industry expertise through published reports and customized consulting services.
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