Fact.MR, a global research & consulting firm, in their updated edition of the report, opines that the pectus bar system market will grow at an impressive rate in 2021 & beyond.
Fact.MR, a global research & consulting firm, in their updated edition of the report, opines that the pectus bar system market will grow at an impressive rate in 2021 & beyond. The growth can be majorly attributed to increasing patient pool, higher acceptance of minimally invasive repair of pectus excavatum as well as growing incidences of pectus excavatum along with other sternal deformities.
“The higher efficiency of Nuss procedure prompts higher demand of pectus bar system, which additionally acts as a driving force which promotes the market growth in the forthcoming years. Additionally, increasing r&d activities to advance highly compatible products are expected to generate novel growth prospects for market players.” states Fact.MR.
Surging Demand for Minimally Invasive Procedures Boosting Demand
Rising focus on making advanced minimally invasive procedures, is anticipated to create lucrative growth prospects. For instance, pectus bar system comprising characteristics for instance blunt edges and rounded ends, which aids in minimizing tissue destruction during implant insertion. All the instruments in the system are intended to boost simplicity amid the Nuss procedure. These developments intended at making healthcare better available is likely to present a conducive environment for pectus bar system.
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Titanium will Attain Highest Revenue Share
The demand for titanium pectus bar system is anticipated to remain significantly high across the globe. Titanium is extensively utilized as a biomaterial for oral implants and artificial joints. Titanium biomaterials are in addition recommended for patients with a metal sensitivity, this aspect is mainly supporting growth.
While stainless steel bars containing several metals, such as molybdenum, nickel, chromium, and iron, were initially utilized in the Nuss procedure for pectus excavatum. Not being antigens lead stainless steel bars to become ionized in the body and subsequently bind with natural proteins; they then caused allergic reactions. This has prompted them to lose their market share in the forthcoming years.
How Big is the Opportunity for Pectus Bar System Manufacturers in US?
The U.S., and Canada will remain lucrative in the owing to novel product innovations, and as market players are aiming developed regions due to high acceptance of minimally invasive surgery in the region, and increasing product awareness owing to medical conferences.
The U.K, Germany and Russia will be following the US as a result of focus on large research bases and aesthetic appearance. China, India, and Japan
pectus bar system market is further anticipated to expand at a higher rate because of growing awareness in relation to the pectus excavatum treatment, particularly the Nuss procedure along with government initiatives for enhancing the patient care quality and decent work culture for caregivers employed in healthcare settings.
Product launches and Technological Advancement Remains Key Focal Areas: Fact.MR Survey
The pectus bar system market is highly fragmented because of the presence of many players. Fact.MR’s survey with thought leaders revealed that market players are focusing on product launch, strategic collaborations, mergers, acquisitions, and technological advancement in 2021 and beyond. The updated edition of the report provides comprehensive coverage of the projected to remain the key strategies of market players. Some of the players profiled in the report are IDEAR S.R.L., Inc.., Reid Healthcare, Zimmer Biomet and Biotech GmbH. The updated edition also offers a detailed analysis of the COVID-19 impact on this market.
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