Deformity is any abnormality of the formation, alignment, or shape of the vertebral & lumber column. Deformity occurs in various part of the body including knee, ankle, spinal and others. According to the Centers for Disease Control and Prevention (2015), each year, about 3-6% of infants worldwide suffer from a serious birth defect which represents millions of babies and families with life-altering conditions like congenital heart defects and spina bifida. Increasing number of patients suffering from the disease, increasing healthcare expenditure and rising government support for research & development have driven the growth of the market.
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Additionally, rising demand for better treatment, and changing lifestyle habits have fuelled the growth of the market. However, the cost of the surgery is too high and is not affordable to people in the developing regions of the world. Thus, the high cost and limited number of treatments may restrain the market.
The global deformity market is expected to grow at a CAGR of 7.1% during the forecast period.
The major key players in the global deformity market:
SpineCraft, LCC, DePuy Synthes , NuVasive , OrthoPediatrics Corp.,3M ,Bristol-Myers Squibb and Company (U.S.), B. Braun (Germany), Stryker Corporation (U.S.), Pfizer Inc. (U.S.), Lineage Medical, Inc. (U.S.), Johnson & Johnson Services Inc. (U.S.), Argon Medical Devices, Inc (the Netherlands), and Cook Medical (U.S.).
The global deformity market is segmented on the basis of types, therapy and end users.
On the basis of types, the market is segmented into congenital, and acquired. Congenital deformity is further segmented into Sprangel’s shoulder, elbow joint congenital dislocation, and others.
On the basis of therapy, the market is the market is segmented into diagnosis and treatment. Diagnosis is further segmented into MRI, CT scan, bone scan and others. Treatment is further categorized into medical therapy, surgical therapy, postoperative care, long-term monitoring and others.
On the basis of end users, the market is segmented into hospital & clinics, orthopedic care centers and others.
The Americas holds the major share of the market owing to a large patient pool, strong government support for research & development, and high healthcare spending. Additionally, high per capita income and well developed technology have fuelled the growth of the market. Europe holds the second position in the global deformity market, which is followed by Asia Pacific. The deformity market in Europe is expanding due to high government support. Asia Pacific is the fastest growing deformity market owing to the presence of rapidly growing companies, huge patient pool, and presence of opportunities for the development of the market.
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The Middle East and Africa holds least share in global deformity market due to limited availability of medical facilities and poor economic condition in Africa region. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East and African market. However, due to presence of opportunities for the development of the market African region shows the fast growth for the market.
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