The cervical spondylosis treatment market primarily involves treatments such as physiotherapy, pain medications, surgery, and alternative medicines which are used for managing neck pain caused due to degeneration of cervical discs. Cervical spondylosis is a degenerative condition that causes neck and arm pain, which occurs due to wear and tear changes in the vertebral bones and joints of the cervical spine over time. The condition usually developed gradually as the padding and discs between the vertebral bones degenerate. Non-surgical treatments such as heat or ice therapy, exercise and medication are commonly prescribed for mild to moderate cases. However, in severe cases where the condition is compressing the spinal cord or nerves, surgery like cervical discectomy and fusion or laminoplasty may be necessary.
The Global cervical spondylosis treatment market is estimated to be valued at US$ 6.65 Mn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the cervical spondylosis treatment are American Tower Corporation, AT&T Inc., Bharti Infratel Limited, China Tower Corporation, Crown Castle International Corporation, GTL Infrastructure Ltd, Helios Tower Africa, SBA Communications Corporation, T-Mobile Tower, and Viom Networks. These players focus on launching new advanced therapeutics and devices for effective treatment of cervical spondylosis.
The growing geriatric population worldwide is one of the major factors driving the demand for cervical spondylosis treatment. According to the World Health Organization (WHO), the number of people aged 65 years and above is projected to grow from 524 million in 2010 to nearly 1.5 billion in 2050. The aging population is more susceptible to develop cervical spondylosis.
Technological advancements in surgical procedures and devices used for cervical spondylosis treatment have increased the availability of minimally invasive surgeries and implants. Companies are developing less invasive surgical methods and devices such as cervical disc replacement implants, bone grafts and more user-friendly chiropractic devices to reduce procedural complications and recovery time.
Market Trends
Increased Adoption of Minimally Invasive Surgical Procedures
The availability of minimally invasive surgical options such as spinal endoscopy, arthroscopic discectomy, and robotic surgeries allows smaller incisions and quicker recovery compared to traditional open surgeries. This trend is followed to reduce the risks associated with open cervical surgeries.
Rise in Development of New Drug Therapies & Devices
Market players are investing heavily in R&D to develop advanced drug therapies such as tissue engineering products and innovative devices for non-surgical and surgical treatment. This helps fulfill the unmet needs and enhance the treatment outcomes.
Market Opportunities
Emerging Markets
The emerging markets in Asia Pacific and Latin America regions offer huge growth potential owing to rising healthcare spend, growing geriatric population and increasing cervical spondylosis disease prevalence in these regions.
Increasing Adoption of Combination Therapies
Combination therapies using drugs along with physiotherapy and lifestyle modifications prove to be more effective treatment with less side effects. This trend provides new opportunities.
Impact of COVID-19 on Cervical Spondylosis Treatment Market Growth
The COVID-19 pandemic has had significant impacts on the cervical spondylosis treatment market size. During the peak of the pandemic in 2020-21, there was reduced access to healthcare facilities and hospitals. This led to delay or cancelation of various elective medical procedures and treatments for cervical spondylosis. Patients were hesitant to visit hospitals or clinics due to fear of contracting the virus. As a result, the market experienced a decline in 2020.
However, as recovery efforts are underway globally post pandemic resurgence in 2022, the market is projected to rebound and start growing again. Telemedicine and teleconsultation also picked up during the pandemic, allowing doctors to diagnose and guide patients remotely. This ensured continuity of care to some extent. Going forward, increased awareness about cervical spondylosis and availability of newer treatment options will propel market growth. Another key strategy would be enhancing safety protocols at healthcare facilities to improve patient confidence levels.
Geographical Regions with Highest Value Concentration in Cervical Spondylosis Treatment Market
North America represents the most valuable region in the global cervical spondylosis treatment market in terms of revenue. This is attributed to factors such as high disposable incomes, well-developed healthcare infrastructure and widespread health insurance. The region is also an early adopter of advanced treatment technologies such as minimally invasive spinal surgeries and cervical disc replacement procedures. Further, presence of prominent industry players and research centers support market growth. Europe follows North America in terms of market value for cervical spondylosis treatment.
Fastest Growing Region in Cervical Spondylosis Treatment Market
Asia Pacific is expected to witness the fastest growth over the forecast period in the global cervical spondylosis treatment market. This can be attributed to rapidly growing geriatric population who are at higher risk of cervical spondylosis in countries such as China, India and Japan. Increasing awareness, healthcare reforms and rising medical tourism also support regional market expansion. Additionally, health insurance penetration is increasing which improves affordability of treatments. Investments in healthcare infrastructure development indicate strong growth prospects for the cervical spondylosis treatment market in Asia Pacific.
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