Kyphosis Market Overview

Kyphosis is the condition in which back is exaggerated forward rounding owing to weakness in the spinal bones that crack or compress them. It can happen at any age but mostly genetic population get effected with kyphosis.This deformity can be caused by variety of problems such as osteoporosis, disk degeneration, birth defects, cancer in the spine, etc. The condition can also be caused by poor posture which can cause pain and breathing difficulties. It is a medical condition marked by the rounding of the back, which is normal with aging. Kyphosis is estimated to occur at any age. But a majority of the patients belongs the geriatric population. The condition is often related with osteoporosis. The kyphosis market is projected to reach USD 732.4 Million by 2030 at 6.3% CAGR during the forecast period 2022-2030.

The Kyphosis can by type is classified into postural kyphosis, scheuermann's kyphosis, congenital kyphosis, and others. Some of the common symptoms of the diseases are inclusive of back pain and stiffness of the back. Increasing incidence of disorders such as osteoporosis, arthritis and poor posture followed by the rising healthcare expenditures is the major driver for the market growth. In 2014, according to the National Osteoporosis Society, it was estimated that approximately 3 million people within U.K have osteoporosis. Moreover, it was estimated that in the coming years, it is expected that the Global Kyphosis Market will advance with higher growth rate as compared to previous years.

 The increasing number of surgeries and therapies has boosted the growth of the market. Also, older people with long-term conditions such as osteoporosis accounted for approximately 70% of all the hospitalizations and about 70% of the total National Health Service (NHS) spending. According to the report published by Population Reference Bureau the population of Americans above 65 years are projected to double from 46 million to around 98 million by 2060 that account 24% of the total population. However, risks associated with the surgical procedures and low per capita income in the middle and low income countries is estimated to restrain the market growth during the projected period.

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Kyphosis Market Segmentation

Based on the type

The Kyphosis market is segmented based on the type into postural kyphosis, Scheuermann's kyphosis, and congenital kyphosis.

Based on the diagnostic test

The kyphosis treatment market is segmented based on the diagnostic test into imaging, biopsy, and others.

Based on the treatment

The kyphosis market is segmented based on the treatment into medications, surgery, and bracing.

Based on the end-user

The global kyphosis market is segmented into hospitals, clinics, ambulatory surgical centers,, and others.

Kyphosis Market Regional Analysis

On regional basis, Global Kyphosis Market is segmented into four major regions namely Americas, Europe, Asia Pacific and the Middle East and Africa. Americas leads the Global Kyphosis Market owing the presence of well-developed economies like U.S. and Canada and a well-developed healthcare sector. Europe accounts for the second largest Global Kyphosis Market. Asia Pacific is estimated to be the fastest growing market. Japan and Australia are the major contributor for the market. Moreover, the presence of the developing economies like India have the have opportunities for the market growth. Middle East & Africa accounts the lowest share in the market due to presence of poor economies and present political conditions. Saudi Arabia, UAE, and Kuwait are the major contributor for the market growth in the Middle East & Africa.

Global Kyphosis Market - Competitive Analysis

There are numerous players operating in the kyphosis market globally such as OTIS Biotech Korea (Republic of Korea), Taeyeon Medical Co., Ltd (Republic of Korea), SURGI R&D (Republic of Korea), Medtronic, Depromed Inc. (Republic of Korea), BMKOREA (Republic of Korea), EC21 Inc. (Republic of Korea) and others. Also, players are increasingly expanding their involvement in the developing region, making it difficult for regional vendors to compete with them, especially in terms of features such as portfolios, quality, and pricing. Most of the players involve in collaboration, acquisition, expansion, product launch, and partnership to lead the market and to maintain their market position.

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