Epiphysiodesis Market: Introduction
- Epiphysiodesis can be termed as a pediatric surgical procedure wherein fusion of epiphyseal (growth) plate of a bone is carried out either temporarily or permanently to interrupt the growth of a long bone. This procedure is majorly undertaken to reduce the growth of a morphologically normal leg to permit a shorter leg to grow to the matching length. This procedure needs to be conducted for an appropriate time duration while the patient is in an adolescence so that the limbs are near-equal in length by the end of the body growth. Poor timing duration can result in length mismatch, leading to poor outcomes and patient morbidity.
- The global epiphysiodesis market is anticipated to expand at a rapid pace during the forecast period
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Key Drivers of Global Epiphysiodesis Market
- According to statistics provided by the WHO, the per capita health care expenditure has increased across the globe. In 2012, the average per capita health care expenditure globally was US$ 1,030, which increased to US$ 1,060 in 2014. In 2013, the U.S. ranked first, with approximately US$ 8,713 per person spent on health care, which was over the Organisation for Economic Co-operation and Development (OECD) average of US$ 3,453. India and China ranked the lowest. However, changing economic environment has resulted in increased health care expenditure, rise in demand for quality health care services, and premium priced products. This is expected to be a key factor driving the global epiphysiodesis market during the forecast period.
- Patients in underdeveloped countries with less awareness about the treatment of limb length discrepancy remain untreated for a long time. This has resulted in high rate of complications associated with epiphysiodesis. Governments of various countries are organizing awareness programs to educate patients about epiphysiodesis and the availability of its treatment. The surge in awareness is expected to drive the global epiphysiodesis market during the forecast period.
Lack of Trained and Qualified Surgeons to Negatively Impact Market Growth
- Epiphysiodesis surgical treatment is complicated, which often requires skilled and trained professionals. Hence, lack of such personnel in emerging and developing economics restrains market growth. Moreover, lack of awareness, high cost, and low number of physicians available per individual hamper the growth of the market. According to the World Bank data, in 2010, China, India, and Indonesia had 1.8, 0.6, and 0.3 physicians per 1,000 people, respectively, including general and specialist medical practitioners. Low number of physicians and CLI specialists in emerging and developing markets, such as Asia Pacific and Africa acts as a major restraint for the global epiphysiodesis market.
North America to Hold a Major Share of Global Epiphysiodesis Market
- North America is anticipated to dominate the global market due to easy availability of skilled as well as trained surgeons and high penetration of health care services in the region
- Increase in population base, rise in incidences of limb length discrepancies, and improvements in the economy in China, India, and others countries in Southeast Asia are resulting in high per capita health care expenditure. This is anticipated to drive the epiphysiodesis market in the region.
- The epiphysiodesis market in Middle East & Africa is estimated to expand at a rapid pace during the forecast period, followed by North America and Europe. This can be attributed to rise in investments in the health care industry in the region.
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Key Players Operating in Global Market
The global epiphysiodesis market is highly competitive with major manufacturers adopting various strategies for gain market share. Some of the key players operating in the global epiphysiodesis market are:
- Zimmer Biomet
- Merete Medical
Global Epiphysiodesis Market: Research Scope
Global Epiphysiodesis Market, by Technique
- Percutaneous Drilling-curettage
- Percutaneous Epiphysiodesis
Global Epiphysiodesis Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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