Fact.MR, a global research & consulting firm, in their updated edition of the report, states that the vertebral radiculopathy market will witness a steady expansion in 2021 & beyond.
Fact.MR, a global research & consulting firm, in their updated edition of the report, states that the vertebral radiculopathy market will witness a steady expansion in 2021 & beyond. The growth is mainly driven by rising number of patients suffering from osteoarthritis, slipped discs and osteoporosis. Furthermore, the increasing burden of spinal disorders along with refining patient’s ease of access to medical imaging services, will drive the product demand in 2021 and beyond.
“Market players are focusing on increasing investment and research and development activities to overcome the deficiencies for better substitutes for the growth for the vertebral radiculopathy industry.” states Fact.MR.
Growing Demand for Minimal Invasive Surgeries & Advanced Therapies are Fuelling the Demand
Growing incidences of patients suffering from osteoarthritis, slipped discs and osteoporosis is fuelling the growth of the vertebral radiculopathy market. In 2013- 2015, as per CDC’s report, an estimated 54.4 Mn US adults (22.7%) were suffering from arthritis. With surging need and number of patient base, the healthcare expenditure is swelling across the globe to enhance hospitals infrastructures together with new drugs development.
Furthermore the growth of the industry is anticipated on the back of the patient safety and powerful regulations. Surge in the need for the drugs, minimal invasive surgeries and advanced therapies for the relive of the patients are pushing the growth of the industry.
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Lumbar Radiculopathy to Witness High Demand
The lumbar radiculopathy is projected to be driven by high incidence rate of spinal disorders, incessant movement in surgical procedures, and growing awareness amid patients regarding disc replacement. The rise in the number of lower back pain patients impels the demand for lumbar radiculopathy.
Metal-on-biopolymer are extensively utilized material for the application of lumbar radiculopathy as it offers better compatibility in contrast to the metal-on-metal, flexible movement of the spine, high degree of rotation and easy insertion.
How Big is the Opportunity for Vertebral Radiculopathy Market Players in US?
In the U.S., a projected 3% to 5% of the population is impacted by radiculopathy. Thus, rising incidence rate boosts the expansion of the market in the US.
The UK is anticipated to record notable growth pace in 2021 and beyond. Efficient reimbursement policies, as well as improved access to healthcare services are projected to contribute to the market expansion in this region.
Japan, India and China are anticipated to be the fastest-growing region on account of huge patient pool, bettering healthcare facilities, and favorable government initiatives.
Technological Advancement of Products to Play a Significant Role: Fact.MR Survey
The vertebral radiculopathy market is fairly fragmented in nature. Fact.MR’s survey indicated that the market players are focusing on research and development activities to develop technologically advanced products to gain a competitive edge in 2021 & 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 Atnahs, Bayer AG, Taisho pharmaceutical co.,ltd., Canton Laboratories, LLC, and Almatica Pharma, Inc. The updated edition also offers a detailed analysis of the COVID-19 impact on this market.
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