by Cervical spondylosis refers to wear and tear changes in the bones and discs in the neck. It is a common cause of neck pain and stiffness especially in individuals over 40 years of age. The exact cause of cervical spondylosis is not known but risk factors include aging, repetitive strain on the neck, physical activities that involve heavy lifting with the neck in an awkward position, congenital problems affecting the spine, and osteoporosis. Treatment options for cervical spondylosis include pain relievers, bracing, muscle relaxants, epidural steroid injections, physical therapy, and in severe cases spinal fusion surgery.
Global Cervical Spondylosis Treatment Market is estimated to be valued at US$ 6.65 Mn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Cervical Spondylosis Treatment are American Tower Corporation, AT&T Inc., Bharti Infratel Limited, China Tower Corporation, Crown Castle International Corporation, GTL Infrastructure Ltd, Helios Tower Africa, SBA Communications Corporation, T-Mobile Tower, and Viom Networks.
The key opportunities in the cervical spondylosis treatment market include rising patient awareness regarding availability of non-surgical treatments and medical insurance coverage for such treatments. Moreover, growing geriatric population worldwide prone to cervical spondylosis will fuel the market growth.
Technological advancements in non-surgical treatments such as cervical epidural steroid injections, radiofrequency ablation, and pulsed electromagnetic field therapy have provided better pain relief and improved mobility with reduced risk of side effects associated with medications and surgery.
Market drivers
Increasing prevalence of sedentary lifestyle and posture-related problems are significant risk factors driving the Cervical Spondylosis Treatment market. According to studies, over 30% of people diagnosed with cervical spondylosis have occupations involving manual labor, prolonged computer use, or other activities requiring improper neck postures or repetitive neck movements. The growing working population exposed to such occupational hazards is expected to propel the market during the forecast period.
Current Challenges in Cervical Spondylosis Treatment Market
The cervical spondylosis treatment market size is currently facing challenges owing to the risk of side effects associated with medications prescribed for cervical spondylosis treatment. Common side effects include nausea, vomiting, drowsiness, constipation, and dizziness. This discourages patients from opting for medication-based treatment options. Moreover, the costs associated with surgical treatments act as a major restraint. Cervical decompression and fusion surgery for cervical spondylosis requires hospitalization and involves high costs. This limits its adoption, especially in developing regions with low disposable incomes. Lack of awareness regarding the early symptoms of cervical spondylosis also poses a challenge. Many patients ignore the initial symptoms which aggravates the condition over time, requiring extensive treatment interventions.
SWOT Analysis
Strength: Availability of a wide range of treatment options including medication, physiotherapy, epidural injections, and surgical procedures. This ensures each patient can select the optimal treatment as per their symptoms and severity of the condition.
Weakness: High costs associated with surgical treatments limit their adoption. Risk of side effects from long-term usage of oral medications can discourage patients.
Opportunity: Increasing awareness through social media and online health portals regarding early symptoms and treatment can drive early intervention. Growing geriatric population in developing countries will augment the patient pool.
Threats: Competition from alternative treatment options for neck pain like chiropractic treatment and acupuncture. Effects of the ongoing COVID-19 pandemic on elective surgical volumes and out-of-pocket healthcare spends.
Geographical Regions
North America currently dominates the cervical spondylosis treatment market in terms of value. This is attributed to the rising geriatric population, availability of advanced treatments, and favorable reimbursement structures in the region. The U.S. generates the highest revenue owing to its well-developed healthcare sector and urgent need to reduce disability periods in workers. Asia Pacific is poised to witness the fastest growth during the forecast period owing to quickly greying demographic, improving access to healthcare facilities, and rising medical tourism in countries like India and Thailand.
Currently, North America dominates the cervical spondylosis treatment market by contributing around 40% of global revenues. However, Asia Pacific is expected to exhibit fastest gains at a CAGR of 5.2% during 2024-2030 on back of rapidly aging populations in China and India coupled with growing healthcare infrastructure and hospital investment in these countries.
Overall, the global cervical spondylosis treatment market currently valued at US$ 6.65 billion in 2024 is likely to reach US$ 9 billion by 2030, expanding at a CAGR of 3.5% during the forecast period. Pain relief and reducedabsenteeismfromworkaretwomajorfactorsdrivingpatientadoptionofdiagnosisand treatment options for cervical spondylosis.
