The major factors responsible for the growth of the Indian spinal fusion devices market include the growing geriatric population in India, rising incidences and prevalence of spinal problems, and rising medical tourism. These factors are also expected to contribute to the growth of this market during the forecast period.
- India has an increasing prevalence of spine disorders, and according to the World Spine Day 2017 Insights Report, every fifth Indian in the age of 20-30 years suffers from various types of spinal ailments.
- AOSpine, one of the world’s leading spine societies, has stated that India witnesses more than 200,000 cases of spinal injuries each year, among which, 30,000 are related to spinal cord injury and paralysis of various degrees.
- The cities that are affected by spine problems are New Delhi, Mumbai, Bengaluru, and Pune. A survey conducted by the QI Spine Clinic during 2017 indicated that 46% of Bengaluru’s population in the age-group of 16-34 years reported spinal issues, and this makes it the city with the highest number of problems among the four cities. Bengaluru is followed by Delhi at 43%, Mumbai at 41%, and Pune at 38%. There were 20,000 people who were surveyed to understand the overall number of people suffering from spinal ailments in the major cities.
- Medical tourism is further a major driving factor for the spinal fusion devices market. In India, the prices of the spinal fusion devices and the respective spinal surgeries are low, as compared to the other countries. Therefore, numerous patients are travelling from across the world to India for treatment and spinal surgeries.
According to Mordor Intelligence, the India Spinal Surgery market will grow 5,4% CAGR 2023-2028.
The Indian spinal fusion devices market is dominated by a few major players.Due to the increasing prevalence of chronic disorders in India, it has been an attractive market for many global players such as Medtronic, Globus Medical, Stryker Corporation, and Depuy Synthes Spine Inc. Many of them have already established their presence in the spinal surgery devices market in India. There are also many Indian companies that offer spinal devices.
The 30 most relevant companies are the following:
- Auxein Medical Pvt Ltd
- Bonetech Medisys
- Bombay Ortho Industries
- Genius Ortho Industries
- GESCO
- GRIPORTHO
- Greens Surgicals
- GPC Medical
- Hardik
- HCM Orthocare
- INDIUS Medical Technologies
- Incredible AM Pvt
- Innovative Ortho Surgicals
- Jayon Implants
- Miraclus
- MJ Surgical
- Matrix
- Meditec
- Nebula Surgical Pvt.Ltd
- OrthoCare
- Panchal Meditech
- Rivarp Medical
- SHPOPL Orthotools PVT
- Siora Surgicals
- SMPL Sharma
- Uteshiya Medicare
- Uma Surgicals
- TechnoShine Vie Pvt Ltd
- Vast Ortho
- Winn Technoserv
SOURCES: Mordor Intelligence,Transparencymarketresearch and SPINEMarketGroup.
Please visit INDIAN Companies: https://thespinemarketgroup.com/category/companies/india/
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