Reconstructive Surgery Market: Overview
Reconstructive surgery is performed to treat structures of the body affected aesthetically or functionally by congenital defects, trauma, infection, developmental abnormalities, tumors, or disease. Reconstructive surgery is generally performed to improve the function and ability as well as to achieve a more typical appearance of the affected structure. Hence, reconstructive surgery differs from cosmetic surgery. The surgical procedure uses microvascular techniques and is also known as free flap surgery. In this type of surgery, a surgeon takes tissue and blood vessels from one part of the person’s body and moves these to the damaged part. For example, head and neck surgery sometimes changes the jawbone shape. A reconstructive surgeon may transplant bone from the leg to the face. This restores the jawbone’s shape and often its function. Rise in health insurance policies for specific reconstructive surgical procedures and technical advancement in implants due to rise in research and development in the market players likely to influence positively about the reconstructive surgery procedures and its benefits among physicians and patients. Hence, reconstructive surgery likely to be an important procedure in terms of technological advancement in medical field which can decrease the rate of multiple surgery among patients by improving the birth defects, or disfigurement issues with various clinical conditions & prosthetic implants.
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Reconstructive Surgery Market: Key Trends
High prevalence of birth anomalies and cancer, increase in the geriatric population with spine disorders, surge in patient awareness programs, and rise in research and development initiatives for reconstructive surgery are the major factors driving the global reconstructive surgery market. An article published in reumatologia stated that musculoskeletal disorders were the cause of nearly 166 million years lived with disability (YLDs), with neck and low back pain accounting for 69.9% deaths. In 2015, nearly 33 million man-days were lost due to spine disorders, and 2.7 million medical certificates were issued for back pain. However, limited insurance coverage, high cost of devices & implants, and preference for drugs over treatment devices are expected to restrain the market in the near future.
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Reconstcuctive Surgery Market: Segmentation
The global reconstructive surgery market can be segmented based on indication, prosthetic implant, end-user, and region. In terms of indication, the market can be classified into congenital anomalies, orthognathic surgeries, breast reconstruction, skin cancer, tissue expansion, hand surgery, lymphedema treatment, septoplasty, and others. The breast reconstruction segment is projected to witness strong growth due to increase in symptoms of breast cancer among the global female population. According to the American Society of Plastic Surgeons, nearly 6 million reconstructive surgery procedures were performed in 2015 and 2016. Based on prosthetic implant, the global reconstructive surgery market can be categorized into tubes, rings, stents, implants, and others. In terms of end-user, the market can be divided into ambulatory surgical units, hospitals, clinics, and others.
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Reconstructive Surgery Market: Regional Analysis
Geographically, the global reconstructive surgery market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominated the global market in 2018 due to sophisticated health care infrastructure with modern software modalities, patient awareness programs, and high per capita health care expenditure. Early-phase diagnosis, less stringent regulation on reconstruction surgery devices, and treatment of chronic diseases drive the medical devices market which in turn is expected to propel the reconstructive surgery market in North America. In 2016, K2M Group Holdings, Inc., a company that develops and commercializes innovative and proprietary complex spine and minimally invasive spine technologies and techniques, expanded its CASCADIA Lateral Interbody System that uses 3D printing to allow for bony integration throughout an implant. Europe is the second largest market for reconstruction surgery due to favorable government policies regarding health care infrastructure, increase in reconstruction surgeries due to cancer, diabetes, and birth anomalies, and awareness about reconstruction devices & surgical procedures among the population. The market in Asia Pacific is likely to grow at a rapid pace owing to increase in the geriatric population, rise in prevalence of cancer and incidence of spine disorders, increase in craniosynostosis surgeries, changing lifestyles, surge in awareness among patients about reconstruction surgery, and rise in per capita expenditure. Additionally, economic growth supports improvement in health care infrastructure in developing countries such as India and China. These factors contribute to the growth of the reconstructive surgery market in Asia Pacific.
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Reconstructive Surgery Market: Competitive Landscape
Major players operating in the global reconstructive surgery market include Medtronic, Johnson & Johnson, GE Healthcare, Siemens AG, Baxter International, Inc., Fresenius Medical Care AG & Co. KGAA., Koninklijke Philips Electronics NV., and Accurate Surgical & Scientific Instruments Corporation.
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