Spina bifida is a congenital condition that usually occurs as a result of mutation in the spinal cord. The condition is more prevalent among Hispanics and Caucasians, and women are more affected than men. It can happen at any position along the spinal cord in case neural tube does not close properly. This causes defect in the formation and closure of backbone which protects the spinal cord. It often leads to damage of spinal cord and nerves related to it.
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Technological advancements is a major factor boosting the growth of the global spina bifida market. Key players in the market are focusing on development of more innovative technologies for the treatment of spina bifida, as awareness about the disorder is increasing. Factors such as rise in awareness, increase in incidence of spina bifida and associated complications, neglected therapeutic needs, favorable regulatory guidelines, surge in adoption rate, expanding government assistance, rise in per capita income, and improved reimbursement policies boost the growth of the global spina bifida market. However, high cost of treatment, complications of medical procedures, and poor health care services in developing countries are anticipated to restrain the global market.
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The global spina bifida market can be segmented based on type of spina bifida disorder, diagnosis, treatment, and end-user. In terms of type of disorder, the global market can be classified into meningocele, occulta, myelomeningocele, and closed neural tube defects. Based on diagnosis, the global spina bifida market can be categorized into blood tests, amniocentesis, ultrasound, and others. The blood tests segment can be divided into maternal serum alpha-fetoprotein (MSAFP) test, test performed to confirm high AFP levels, and other blood tests. In terms of treatment, the global spina bifida market can be classified into medicines, medical procedures, surgeries, and others. The medical procedures segment can be categorized into urinary diversion, urinary catheterization, and enema. The surgeries segment can be divided into caesarean section, surgery of the spine, fetal endoscopic surgery, suprapubic cystostomy, and spinal fusion. The medicines segment can be bifurcated into antibiotics and others. Based on end-user, the spina bifida market can be segmented into hospitals, drugstores, pharmacies, clinics, diagnostic centers, and others.
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In terms of region, the global spina bifida market can be segmented into North America, Europe, Asia, Latin America, and Rest of the World. North America and Europe accounted for significant shares of the global market in 2017, followed by Asia Pacific. The U.S. dominated the market in North America due to strong research & development, technological advancements, and rise in awareness about the treatment and management of congenital diseases. Government support toward research & development expenditure and well-developed reimbursement policies are projected to drive the spina bifida market in Europe. The spina bifida market in Asia Pacific is anticipated to witness the fastest growth during the forecast period. Launch of new products, advancing health care technologies, favorable regulations, and rise in awareness are likely to drive the spina bifida market in the region from 2018 to 2026.
Key players operating in the global spina bifida market are B. Braun Melsungen AG, Boston Scientific, C. R. Bard, Inc., C. B. Fleet, Cook Medical, Covidien Private Ltd., Ethicon, Fujifilm, KARL STORZ, Medline Industries, Olympus Corporation, Pacific Hospital Supply Co., Ltd., Medtronic plc, Smith & Nephew, Teleflex Incorporation, Stryker, and ConvaTec Group plc, among others.