Market Overview:

Spina bifida is a congenital disorder due to which in the malformation of the spinal cord happens. A new report on the global spina bifida market, published by Market Research Future (MRFR), evaluates that this market can expect progress at 8% CAGR between 2022 and 2030.   

The significant market driving factors for the global spina bifida market growth are increased incidence of spina bifida and increasing technological advancements. Increasing adoption rate and improving the regulatory framework in many countries also helps the market growth. Other factors contributing to the global spina bifida market growth include increasing government assistance, surgery-related complications, rising awareness, unmet medical needs, and improvement in funding policies as well as reimbursement policies. However, factors that can hamper the market growth include high cost of treatment, the poor healthcare system in low as well as middle-income countries, and side-effects of surgeries.

Key Players

Big players in the global spina bifida market B. Braun Melsungen AG (Germany), Boston Scientific (USA), C. B. Fleet Company Incorporated (USA), Coloplast A/S (Denmark), ConvaTec Group PLC (UK), Cook Medical (USA), C.R. Bard Inc. (USA), Dynarex Corporation (USA), Ethicon Inc. (USA), Fujifilm (Japan), Hollister Incorporated (USA), Karl Storz SE (Germany), Medline Industries (USA), Medtronic PLC (including Covidien Private Ltd.) (Ireland), Olympus Medical Systems (India), Pacific Hospital Supply Co. Ltd. (Taiwan), Smith & Nephew (UK), Stryker (USA), Teleflex Incorporation (USA), and Wellspect Healthcare (Sweden).

Market Segmentation

• The global spina bifida market segmentation encompasses diagnosis, end-user, treatment, and type. MRFR’s take on the market surveys various facets of the market in-depth.
• The diagnosis-based segmentation of this market covers amniocentesis, blood tests, ultrasound, and others. The blood tests segment can be sub-segmented into maternal serum alpha-fetoprotein (MSAFP) test, test to confirm high Alpha-Fetoprotein (AFP) levels, and other blood tests.
• In the context of end-user, the market has been segmented into clinics, diagnostic centers, drug stores, hospitals, pharmacies, and others. By type, the market has been segmented into closed neural tube defects, meningocele, myelomeningocele, and occulta.
• Regarding treatment, the market has been segmented into a medical procedure, oral medications, surgery, and others. The medical procedure has been sub-segmented into enema, urinary catheterization, and urinary diversion. The surgery segment has been sub-segmented into the caesarean section, fetal endoscopic surgery, spinal fusion, spine surgery, and suprapubic cystostomy.

Regional Segmentation

A geographical outlining of the global spina bifida market covers The Americas (North America & South America), Europe, Asia Pacific, and the Middle East & Africa (MEA).

The Americas region dominates the spina bifida market due to the rising occurrence of spina bifida in this region, and technological advancements in the medical sector. Due to technological advancements and availability of advanced medical facilities, North America is a bigger regional market segment than South America. USA and Canada generate maximum market revenue in this region. Many important key market players are based in the USA. In South America, the strongest economies are Argentina and Brazil, that can be important markets in the future.

Europe holds the second-largest position in the global market due to amendments in reimbursement policies, the presence of some important market players, and government support towards research & development (R&D) expenditure. Due to the reasons that are same as in the Americas, Western Europe is a bigger regional market than Eastern Europe. The most powerful country-specific markets in Europe are France, Germany, Italy, Spain, and the UK. An inspection of the remaining countries in Western Europe featured in this report speculate the huge contribution to market revenue from some other countries in this region with a sizable revenue from Eastern Europe too.

The Asia Pacific region is the fastest-growing regional market due to the development in healthcare technology and huge patient pool. Healthcare expenditure is expanding in many Asian countries. The vibrant country-specific markets in this region are Australia, China, India, Japan, and South Korea. An analysis of the remaining countries in the Asia Pacific region featured in this report estimates the huge contribution to market revenue from some other countries.

The MEA region holds the lowest share in the global market due to lack of technical knowledge, low development, and poor medical facilities.  Some of the key country-specific markets in this region are Kuwait, Oman, Qatar, Saudi Arabia, and the UAE. An estimation of the remaining countries in the MEA region featured in this report estimates a decent contribution to market revenue from some other countries.

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