Spina Bifida Market Overview
Spina bifida is a birth defect when there is improper formation of the spine and spinal cord resulting in symptoms, such as weakness of the lower limbs, urinary and bowel incontinence, poor skin sensation, swelling at the site of spine, build-up of cerebrospinal fluid and others.
Global Spina Bifida Market size is expected to surge owing to growing awareness, healthcare expenditure, and the growing success rate of medical intervention. Spina Bifida perceives a massive demand owing to growing number and reach of hospitals and healthcare infrastructure.
As Market Research Future (MRFR) opines, the global Spina Bifida market is expected to register a CAGR of over 8.0% over the assessment period (2016-2027). Growing demand for treatment and the emergence of compulsory screening is a key driving force behind the substantial market demand. Spina Bifida affects about 15% of people in the world and has an average rate of 0.4 to 1.2 per 1000 births, which drives a consistent demand for treatment.
The development of advanced shunts is driving a large market. The development of open fetal surgery and fetoscopy may usher a disruptive trend in the market. Additional factors fostering the market demand include the compulsory screening of infants under state laws such as that mandated by California the development of accurate tests such as alpha-fetoprotein test.
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Global Spina Bifida Market – Segments
The report has four dynamics to widen the scope of understanding,
By Type: Occulta, Closed Neural Tube Defects, Meningocele, And Myelomeningocele, among others.
By Diagnosis: Blood Tests (Maternal Serum Alpha-Fetoprotein (MSAFP) Test, Test to Confirm High AFP levels, and Other Blood Tests), Ultrasound, Amniocentesis, among others.
By Treatment: Medical Procedure (Urinary Catheterization, Urinary Diversion, and Enema), Surgery (Spine Surgery, Fetal Endoscopic Surgery, Spinal Fusion, Suprapubic Cystostomy, and Caesarean Section), Oral Medications (Antibiotics, Others), among others.
By End-use: Hospitals, Clinics, Diagnostic Centres, Drug Stores, Pharmacies among others.
By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World.
Global Spina Bifida Market – Regional Analysis
The Americas dominate the spina bifida market owing to drivers, such as compulsory screening, rising occurrence of spina bifida in the region, and technological advancements, especially in stents. According to the Centres for Disease Control and Prevention (CDC), almost 1,500 babies suffer from spina bifida per year in the U.S.
Europe accounts for the second-largest spina bifida market which is expected to grow owing to factors such as positive amendments in the reimbursement policies.
Asia Pacific is expected to drive the fastest growth owing to a large patient pool and expansion of healthcare. Growing healthcare expenditure and developing economy is providing an impetus to the Asia Pacific market.
The Middle East & Africa currently accounts for the lowest share of the global Spina Bifida market owing to factors, such as weak economic development, lack of medical facilities and low income. However, the Gulf states of Saudi Arabia and UAE are expected to drive a large market growth owing to high public healthcare expenditure.
Global Spina Bifida Market – Competitive Landscape
The Spina Bifida market appears represents a bimodal curve. The stent market and the number of surgeries is growing owing to the expansion of healthcare. However, the diagnostic market is suffering from influx of a large number of companies. The falling pricing margin on diagnostic kits is a cause of concern. The emergence of China as a low-cost producer of medical devices is shifting the market dynamics.
Manufacturers are developing and using a variety of distributions chains to corner larger market share. Close association with retailers to increase sales and exposure to customers is also being used as a demand enhancing strategy. Outsourcing manufacturing to a low-cost offshore location such as China is also being followed.
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Players leading the global Spina Bifida market include Boston Scientific, C.B. Fleet, C.R. Bard, Inc., B. Braun Melsungen AG, ConvaTec Group plc, Hollister Incorporated, Cook Medical, Covidien Private Ltd., Ethicon, Wellspect Healthcare, Fujifilm, KARL STORZ, Pacific Hospital Supply Co., Ltd., Medline Industries, Coloplast A/S, Medtronic plc, Olympus, Smith & Nephew, Dynarex Corporation, Stryker, Teleflex Incorporation, among others.
Industry/ Innovation/ Related News:
June 19, 2019 ---- Cleveland Clinic performed the first in-utero fetal surgery to treat a spina bifida congenital disability on a 23-week-old fetus. The surgery was carried out by Dr. Darrell Cass, and his team. The development is significant as it opens up new vistas for the global Spina Bifida market. The development of in-utero fetal surgery is expected to open a nascent but growing market for advanced medical devices. The surgery achieved all measures of quality for fetal repairs such as normal brain structure restoration and birth gestational age.