Spina Bifida Treatment Market Size, Share, Industry, Forecast and outlook (2024-2031)

Spina Bifida Treatment Market is Segmented By Disease Type (Myelomeningecele, Occulta, Closed neural tube defects, Meningocele), By Treatment (Medical Procedures, Surgeries, Oral Medications, Others), By End-User (Hospital, Clinics, Diagnostic Centers, Pharmacies, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Spina Bifida Treatment Market Expected to reach a high CAGR 7.8% By 2030.

Spina Bifida Treatment Market Dynamics

The market for spina bifida market  has grown significantly over the last decade, owing to the adoption rate of minimally invasive techniques and treatments. Furthermore, an increase in undiscovered opportunities in complicated anatomy treatments and an increase in spending on innovative treatment technologies in emerging countries drive the growth of the spina bifida devices market.

Increasing prevalence of  spina bifida each year will drive the market growth   

The seriousness of the illness can be determined because the condition affects 1,500 to 2,000 of the more than 4 million newborns born in the United States each year. Approximately 166,000 people in the United States have SB. It is more usual in those with fair skin, such as Hispanics. It is more typically observed in women than in men.

 The increasing prevalence of the illness is one of the primary reasons driving market expansion. Technological advances in the healthcare sector are also helping to drive market expansion. Technological breakthroughs such as 3D Printing lead to minimally invasive SB therapy advancements. The surgical technique is coupled with the technology, and surgeons can close off the spinal opening using a durable seal with its assistance. .These factors are likely to boost the Spine Bifida Treatment market.

A mix of nutritional and environmental risk factors is likely to hamper the market growth 

However, a mix of nutritional and environmental risk factors, such as folate (vitamin B-9) insufficiency and nutrition, are thought to be the origin of the condition's emergence. Obesity, diabetes, and a lack of folate are all considered risk factors for the formation of the illness. Global Spine Bifida Treatment Market-Industry Analysis 

COVID-19 Impact Analysis

In 2019, the novel coronavirus (COVID-19) rapidly spread across various countries and regions, having a massive impact on people's lives and the global community. It began as a human health issue and has since evolved into a major threat to global trade, economy, and finance. Due to lockdowns caused by the COVID-19 pandemic, many products in the spina bifida treatment market were halted. Furthermore, as the COVID-19 vaccine becomes available, the number of COVID-19 cases is expected to decrease. This has resulted in reopening of companies to full capacity and conducted research and developments . This is expected to aid the market's recovery by the beginning of 2023. After COVID-19 infection cases begin to decline, manufacturers of equipment and machinery must focus on protecting their employees, operations, and supply networks to respond to urgent emergencies and establish new working methods.

Spina Bifida Treatment Market Segment Analysis

The myelomeningocele segment is expected to grow at the fastest CAGR during the forecast period (2023-2030)        

When individuals say about spina bifida, they usually mean myelomeningocele. The most severe form of spina bifida is myelomeningocele. A sac of fluid enters the baby's spine through an orifice in this condition. This sac contains and damages a portion of the spinal cord and nerves. This spina bifida causes moderate to severe difficulties, such as difficulty going to the bathroom, lack of feeling in the legs or feet, and inability to move the legs. Furthermore, The baby is born with a small gap in the spine's bones. The disorder is common, affecting roughly one out of every ten persons.(Source: Kidshealth.org).

Spina Bifida Treatment Market 

Spina Bifida Treatment Market Geographical Analysis

North America region holds the largest market share of the global spine bifida treatment market

The North American spine bifida treatment market accounted for the lion's share because of the widespread use of advanced treatment procedures. Furthermore, many market players have launched technologically advanced devices to gain a strong foothold in the market.

North American region is developing novel treatment and diagnostic methods. Furthermore, rising death rates increased patient awareness of the availability of new spina bifida treatment procedures. For instance, 2021, With FDA permission, UC Davis Health began the CuRe Trial, a cellular therapy for the treatment of spina bifida. Advanced healthcare infrastructure is expected to drive the growth of the Spine Bifida Treatment market in North America.

Spina Bifida Treatment Market Competitive Landscape

The spine bifida treatment market is a highly competitive presence of local as well as global companies.  Some of the key players which are contributing to the growth of the market include Boston Scientific, B.Braun, Convatech, BD, Cardinal, Teleflex, Wellspect, Cook Medical, Strive Medical, Hollister, among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the spine bifida treatment market globally. For instance, For example, in 2020, Alcyone Lifesciences has been awarded approval by the Food and Drug Administration (FDA) to relaunch the ReFlow shunt device to treat hydrocephalus.

B.Braun

Overview:

The company began in 1839 as a pharmacy in Melsungen, when it began selling medical herbs via mail to consumers in Germany.Later, a manufacturing factory was constructed, and the production of many medical items, mostly surgical sutures, began. Braun began supplying hospitals with this product and added other product lines to its production programs, such as intravenous solutions, monitoring apparatus, and other medical devices over the next few decades. Braun became highly specialized in plastics for pharmaceutical and medical applications in the 1960s, developing the first plastic container for intravenous fluids in 1956 and numerous other items for patient care in hospitals.

 Product Portfolio:

Actreen: Actreen catheters are pre-lubricated with a proprietary formula of glycerin and water and are thus immediately ready for use, with no need for prior preparation such as adding water.There is no preparation step.There is no waiting period before catheterization.There will be no messes or splashes of liquid water.

Frequently Asked Questions

What is the Projected CAGR value of the Spina Bifida Treatment Market?

Spina Bifida Treatment Market is expected to grow at a CAGR of 7.8% during the forecasting period 2023-2030.

Which region controlled the global market during 2023-2030?

North America region Controls the Spina Bifida Treatment Market during 2023-2030

Which is the fastest growing region in the Spina Bifida Treatment Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period