Skeletal deformation correction procedures have been at the cusp of surgical industry lately, owing to high number of fractures and other bone deformities being witnessed across the globe. The procedure takes place either at one go, which is known as acute correction, or through multiple sittings known as gradual correction. During the correction surgery, doctors first carry out osteotomy on the patient where in two separate bone segments are created by cutting the bone. Once, osteotomy is complete, straightening is done by inserting a metal plate or rod at the side of deformation. The rob helps in straightening the bone and allows nearby muscles to accommodate to the new corrective dynamics. Furthermore, once the straightening is complete, the plates can be removed through a second surgery.
COVID-19 Impact Analysis
Coronavirus disease 2019 (COVID-19) has created an economic crisis in addition to the healthcare crisis. COVID-19 pandemic has stretched healthcare system worldwide; developed countries are expected to cause economic recession. The pandemic has an adverse impact on the healthcare system, resulting in 50–70% drop in revenue from March. Many small hospitals, clinics, and nursing homes have been forced to shut their operations. In addition, social distancing and localized curfews have resulted in delayed elective surgical procedures. Further, visa cancellations have led to an interruption in medical tourism and can negatively impact the healthcare services market growth.
Top Impacting Factors
- Expansion of the global orthopedic industry owing to rising bone fixation and deformation correction surgeries is expected to drive the market growth for skeletal deformation correction. The highest contributions to the number of surgeries come from high population base countries such as India, China, and the U.S.
- Rise in geriatric population across regions such as Korean Peninsula and Europe and the resulting bone deformity cases are anticipated to give rise to demand for advanced treatment therapeutics.
- Technological advancements in healthcare sector with the introduction of virtual reality, robotics, and machine learning are anticipated to aid the market growth.
- Severe rise in accidents and resulting bone fractures and trauma will further fuel the market growth.
- Increase in adoption of minimal invasive surgeries, which involves operations through tiny incisions instead of large openings in the body is anticipated to drive market growth for deformation correction.
- Inability of healthcare players to balance the tradeoff between cost and response time may hamper the growth in combination with lack of awareness about new age skeletal deformation correction techniques in non-industrialized regions such as Africa.
Skeletal Deformation Correction Market Trends
- North America is widely anticipated to witness huge dominance in the skeletal deformation correction market, owing to rising incidents of bone fractures being recorded in the region combined with demand for instant treatment surgeries supported by high disposable income.
- Global manufacturers are embracing computer assisted surgical procedures for a part of deformation correction strategy, thereby incorporating advanced machine learning in the industry
- Da Vinci Corporation made advancements in computer assisted neck surgeries. It recently launched a surgeon console, which offers a 3D view of the neck anatomy of the patient. In addition, the vision cart attached with the device makes the procedure more streamlined.
- Researchers at Al-Azhar University of Medical Studies have made significant advancements in the field of orthopedics with the inception of idea of ulnarization of carpus for treatment of radical club hand.
- Additionally, researchers around the globe are postulating the idea of 3D printing for orthopedic surgeries. The significant traction of using 3D modelling in the manufacturing spectrum has opened gates for the use in post-traumatic limb reconstruction cases. The strategy involves use of titanium truss cages to address the issue of bone loss post trauma.
- Professionals at International Center of Limb Lengthening (ICLL) are working on designing and developing new age lengthening and deformity correction devices that incorporates latest technological advancements.
Key Benefits of the Report
- This study presents the analytical depiction of the skeletal deformation correction industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the skeletal deformation correction market share.
- The current market is quantitatively analyzed to highlight the skeletal deformation correction market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the skeletal deformation correction market.
- The report provides a detailed analysis depending on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Skeletal Deformation Correction Report
- Which are the leading players active in the skeletal deformation correction market?
- How is each segment of the market expected to grow during the forecast period?
- What are the adoption trends for the skeletal deformation correction market in emerging economies and established economies across the world?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the skeletal deformation correction market?
- What future projections would help in taking further strategic steps?
- What are the impacts of COVID-19 in the industry?
- What is skeletal deformation correction?
- What is the skeletal deformation correction market prediction in the future?
- What are the current trends and predicted trends?
Skeletal Deformation Correction Market Report Highlights
By End User
Key Market Players
ONKOS SURGICAL, Stryker, Zimmer Biomet, K2M Group Holdings, Smith and Nephew, Sonoma Orthopedic Products, Orthofix Medical, Johnson and Johnson, Wright Medical Group, Arthrex