CERVICAL SPONDYLOSIS TREATMENT MARKET ANALYSIS

Market Challenges And Opportunities

Cervical Spondylosis Treatment Market Drivers:

• Increasing prevalence of cervical spondylosis: The growing prevalence of cervical spondylosis, especially among the elderly population, is driving the demand for cervical spondylosis treatment. This is attributed to factors such as sedentary lifestyle, poor posture, and degeneration of spinal discs. For instance, according to Indian Journal of Applied Research, in June 2017, about 10 million persons per year were affected by cervical spondylosis in India alone. The incidence of neck pain in adults is 25-50% than that of children per year. It is the most common spine dysfunction in elderly people.
• Growing geriatric population: The growing geriatric population, especially in developed economies, is driving the demand for cervical spondylosis treatment. Elderly individuals are more prone to cervical spondylosis, which can lead to reduced quality of life and functional impairment.
• Advancements in healthcare infrastructure: The advancements in healthcare infrastructure, especially in emerging economies, is driving the demand for cervical spondylosis treatment. This includes the development of advanced diagnostic tools, treatment technologies, and rehabilitation services. For instance, according to the Biomolecules & Biomedicine journal, in April 2023, researchers at Guangxi Normal University, China evaluated the effectiveness of therapies including Sling Exercises Training (SET), fascia manipulation, Muscle Energy Technique (MET), and Proprioceptive Neuromuscular Facilitation (PNF) with combination with virtual reality technology that aid the rehabilitation of cervical spondylosis. It was found that the combination of VR technology and other novel technologies has the potential to improve the field of pain management.
• Increasing healthcare expenditure: The increasing healthcare expenditure, especially in developed economies, is driving the demand for cervical spondylosis treatment. Governments and private entities are investing more in healthcare, which is leading to improved access to treatment options for patients.

Cervical Spondylosis Treatment Market Opportunities:

• Development of personalized treatment options: The trend towards personalized medicine presents an opportunity to develop customized cervical spondylosis treatment options that are tailored to the specific needs and preferences of patients. This can include the use of different treatment modalities, rehabilitation techniques, and follow-up care.
• Expansion into emerging markets: The cervical spondylosis treatment market has significant potential for growth in emerging markets, where the prevalence of the condition is increasing. There is an opportunity to expand into these markets and offer innovative treatment options that meet the specific needs and preferences of patients in these regions. For instance, according to the BMC Musculoskeletal Disorders journal, in 2018, an epidemiological study of cervical spondylosis was conducted in the Chinese population. The prevalence of cervical spondylosis was 13.76%, which was higher than the prevalence of diabetes (9.7%). Approximately 2.7 million patients suffered from cervical spondylosis in Beijing, a city having a population of 20 million.
• Technological advancements: The development of advanced technologies, such as robotics and virtual reality, presents an opportunity to enhance the effectiveness and efficiency of cervical spondylosis treatment. These technologies can offer improved outcomes, reduced healthcare costs, and enhanced patient experience.
• Focus on patient education and awareness: The lack of awareness and understanding about cervical spondylosis among patients and healthcare providers presents an opportunity to focus on patient education and awareness initiatives. This can include the development of educational materials, public health campaigns, and training programs for healthcare professionals.

Cervical Spondylosis Treatment Market Restraints:

• High treatment costs: The high cost of cervical spondylosis treatment, especially for surgical interventions, can limit access to treatment for some patients. This can result in delayed diagnosis and treatment, which can lead to more severe symptoms and reduced quality of life. For instance, according to Vaidam Health, a medical travel assistant company, cervical spondylosis treatment cost in India for Indian patients is between US$ 5,300 to US$ 7,110. The cost for international patients is between US$ 9,000 to US$ 11,000. Patient has to stay in the hospital for 5 days and outside the hospital for 10 days. The total cost of the treatment depends on the diagnosis and facilities opted by the patient.
• Limited reimbursement policies: The limited reimbursement policies for cervical spondylosis treatment can limit access to treatment for some patients. This can result in reduced adoption of innovative treatment options and slower market growth.
• Limited availability of healthcare infrastructure: The limited availability of healthcare infrastructure, especially in rural and underserved areas, can limit access to cervical spondylosis treatment. This can result in delayed diagnosis and treatment, which can lead to more severe symptoms and reduced quality of life.