Orthopedic Devices are used to treat the disorders and injuries of the musculoskeletal system of human body. Spinal Surgery includes devices used in the surgical treatment of degenerative disc diseases, intra-vertebral fractures and scoliosis. Minimally Invasive Spine (MIS) Fusion Surgery is performed to stabilize the vertebral bones and joints using devices such as cannulated and non-cannulated screws. GlobalData uses proprietary data and analytics to provide a comprehensive report on the minimally invasive spinal devices market in South Korea. Buy the latest report here.
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In 2023, GlobalData’s Market Model methodology determined that the leading player in the minimally invasive spinal devices market in South Korea was Medtronic followed by Stryker, DePuy Synthes, Globus Medical and ZimVie.
Understanding market size can be crucial to evaluate opportunities and make informed decisions about market entry and exit. Medical device companies can identify attractive segments in respective markets as well as develop marketing strategies based on forecasts for those segments.
MIS fusion surgery features shorter incisions and faster recovery time when compared to traditional or open interventions. Four minimally invasive spine surgery techniques are covered: mini-open, percutaneous, tubular, and distally expanding. MIS interventions are tracked when performed as spinal fusion. MIS surgeries related to spinal non-fusion and vertebral compression fractures are not tracked. Thoraco-lumbar interventions include sacral interventions. Also, all screw fixations including pedicle and facet are tracked. Facet screw fixation, vertebral body replacements and spinous process fixation are not tracked. Hence, the sum of minimally invasive spinal interventions utilizing devices is not 100%. The Minimally Invasive Spinal Devices include Cannulated Screws, Non-Cannulated Screws, Rods, and Interbody Cages. Cannulated Screws comprise a central hollow shaft and are used in the fixation of bone and joint breaks and to secure artificial implants such as bone graft. Non-Cannulated Screws are used in bone and joint fixation and do not have a hollow shaft. Rod is an implant that is used to connect screws and prevent their movement from the implanted area. Interbody Cage is a hollow threaded fiber cylinder used to fuse two vertebrae together to treat degenerative disc diseases and provide fixation.
The minimally invasive spinal devices market in South Korea can expand or contract due to a variety of reasons including population demographics, disease incidence and prevalence, macroeconomic issues, and geopolitical considerations. Disruption to a market could be caused by a sudden, unexpected change in these factors, but it could also be driven by changes in clinical practice, leading to a change in diagnosis or treatment of patients, as part of a process to generally improve medical practice.
For the latest analysis of the market size minimally invasive spinal devices in South Korea, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Medical Intelligence Center Market Models are the gold standard of medical device market valuation, company share estimation and market trend forecasting. GlobalData uses a patient-based forecast model or installed base methodology to determine the market size for therapeutic indications and capital equipment expenditures. Estimates are based on a number of sources, including primary research—KOL and industry contact interviews—and secondary research, such as company reports, press releases, published articles, proprietary databases, and general news media.
