Global Spina Bifida Treatment Market Size, Share, Forecast Report, 2020-2027

Warning: DOMDocument::loadHTML(): htmlParseEntityRef: no name in Entity, line: 23 in /home/multiwpmr/public_html/report-details.php on line 448

Warning: DOMDocument::loadHTML(): htmlParseEntityRef: no name in Entity, line: 23 in /home/multiwpmr/public_html/report-details.php on line 448

Warning: DOMDocument::loadHTML(): htmlParseEntityRef: no name in Entity, line: 23 in /home/multiwpmr/public_html/report-details.php on line 448
The global spina bifida treatment market is estimated to grow at a CAGR of around 7% during the forecast period. Spina bifida is a type of birth defect that happens to infants when the spine and spinal cord don't form properly. Spina bifida is a type of neural tube defect. This defect happens to a developing baby, while in the womb when the spinal cord fails to develop or close properly. Spina bifida symptoms can be seen on the skin above the spinal defect. It can range from mild to serve, and it depends on the type of defect, size, location, and complications.



Growing cases of spina bifida among the infants and medical advancement are driving the growth of the global spina bifida treatment market. For instance, as per the Center for Disease Control and Prevention (CDC) each year, in the US, about 1,645 babies are born with spina bifida. During 2006-2015, in China, a total of 2,029 cases of spina bifida were identified. Moreover, growing awareness, increasing government assistance, and rising funding and reimbursement are propelling the growth of the market.



High cost involved in spina bifida treatment is restraining the global spina bifida treatment market growth. According to the National Center for Biotechnology Information (NCBI), the estimated lifetime cost of care for a person with spina bifida, with caregiving costs, is $791,900. A study from 2013 showed that hospitalizations related to birth defects of the brain and spine (including spina bifida) cost more than $1.6 billion in 2013 for people of all ages, data were collected from Healthcare Cost and Utilization Project (HCUP) and 2013 National Inpatient Sample.



Beside it, new technological innovations in the spina bifida treatment market is an opportunity factor in the global spina bifida treatment market. For instance, in September 2019, the National Institute for Health and Care Excellence (NICE) talked about two techniques of spina bifida treatment, the first consisted of opening the womb through surgery and operating on the fetus, and the other involved using keyhole surgery to access the unborn baby. Such advancement in technology is expected to boost market growth in the near future.



Market Segmentation



The global spina bifida treatment market is segmented based on type and treatment. Based on the type, the market is segmented into occulta, closed neural tube defects, meningocele, and myelomeningocele. And based on the treatment, the market is segmented into surgery, medical procedures, and devices. Furthermore, based on the surgery, the market is further segmented into the cesarean section, suprapubic cystostomy, spinal surgery, colostomy, and others. Based on the medical procedure, the market is segmented into urinary catheterization, urinary diversion, enema.



Myelomeningocele held a significant share in the market



Myelomeningocele is the most common and serious type of spina bifida. In this defect, the spinal cord and nerves develop outside of the body. This can result in muscle weakness or paralysis, bowel and bladder problems, hydrocephalus, Chiari Malformation, seizures, and orthopedic conditions such as scoliosis, hip problems, and foot deformities. In most of the cases, myelomeningocele is treated by surgery after birth.



Regional Outlook



Geographically, the market is segmented on the basis of the region that includes North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to have a significant market share in the global spina bifida treatment market. Key factors that are driving the market are the availability of proper healthcare infrastructures and the presence of the major players offering innovative spina bifida treatment procedures in the market. Moreover, the Asia-Pacific region is the fastest-growing spina bifida treatment market owing to large numbers of the patient and increasing health awareness.



Competitive Landscape



The major players providing spina bifida treatment that include Medtronic PLC, Boston Scientific Corp., Karl Storz SE & Co. KG, Johnson & Johnson Service, Inc., Zimmer Biomet Holdings, Inc., NuVasive, Inc, Smith & Nephew PLC, Stryker Corp., and Wellspect Healthcare (A Dentsply Sirona Company). Range of spina bifida treatment equipment manufactured by these key players including Ennovate, Aesculap XP, Elan 4, Aesculap Aeos, and others.