Interspinous Spacers Market Size to Grow at a CAGR of 5.6% During the Forecast Period 2020–2025

Interspinous Spacers Market size is $84 Million in 2019, growing at a CAGR of 5.6% during the forecast period 2020-2025. The interspinous spacer is a small implant used to alleviate debilitating symptoms of spinal stenosis, which a debilitating condition is caused by a narrowing of the spinal canal. The spacer is an implant designed to hold the gap between the spinous processes open, so that the nerves in the back will not be pinched or cause discomfort. These spacers are composed of a very solid, but lightweight metal in the human body that is biocompatible. The increasing demand for interspinal spacers is driven by a high prevalence of degenerative spinal disorders due to ageing and a lower risk of infection due to lower blood loss, decreased downtime and motion preservation.

Interspinous Spacers Market Segment Analysis - By Application

In 2019, Lumbar Spinal Stenosis segment dominated the Interspinous Spacers Market in terms of revenue is estimated to grow at a CAGR of 6.2% owing towards high prevalence of the disease in the geriatric community and the global growth in the geriatric population. The thinning of the spinal canal in the lower back, which induces nerve compression, is lumbar spinal stenosis. With age, the disease progresses progressively. In order to confirm the diagnosis of mild degenerative lumbar spinal stenosis, radiology tests are used. People with lumbar spinal stenosis feel discomfort, but their legs, lower back and buttocks, numbness and tingling may also be weak abetting towards the growth of the market.

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Interspinous Spacers Market Segment Analysis - By Geography

In 2019, the North America region dominated Interspinous Spacers Market in terms of revenue with a market share of 42% owing towards rising public & private funding for R&D in this region. Increased demand for minimally invasive surgical procedures, new product launches and a high geriatric population with lumbar spinal stenosis and degenerative disc disorders is driving the regional growth. Lumbar spinal stenosis is a leading factor in the geriatric population opting for spine surgery in the U.S., according to NCBI. In May 2017, an article published in the AMJ journal reported that lumbar spinal stenosis affects over 200,000 adults in the U.S. and the geriatric population is projected to rise to 64 million by 2025 aiding to the market’s growth. Government has taken initiatives to promote technological advancements are key factors in the growth of the Interspinous Spacers market. Asia Pacific is expected to record the fastest growth rate during the forecast period 2020-2025 owing to the increasing healthcare expenditure in the region.

Interspinous Spacers Market Drivers

Rising Demand for Minimally Invasive Surgeries

Technological developments in minimally invasive surgical procedures have contributed to the development of several decompression devices for interspinous processes. Interspinous spacer positioning has lower rates of complications than methods of decompression and spinal fusion. Interspinous spacers are commonly used in the geriatric community owing to health problems as elderly patients are not comfortable with surgery. The adoption by doctors and surgeons of minimally invasive surgery raises awareness of the treatment of spinal disorders driving the market growth. The market is also influenced by the redesign of current reimbursement policies to include and extend the latest product spectrum in the reimbursement schemes in most countries.

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Interspinous Spacers Market Challenges

Complications associated with lumbar spinal fusion

However, complications associated with lumbar spinal fusion in elderly patients with spinal stenosis are a major factor restricting the development of the demand for interspinal spacers. For instance, according to the report of the American Association of Neurological Surgeons on complication associated with lumbar spinal stenosis in 2014, within two years of surgery, 1 in 6 elderly patients treated with lumbar spinal stenosis underwent reoperation on the spine and approximately 1 in 4 patients were readmitted for surgical complication in U.S. is restraining the growth of the market.

Interspinous Spacers Market Industry Outlook

Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in the Interspinous Spacers Industry. Interspinous Spacers top 10 companies include NuVasive, Inc., Paradigm Spine (RTI Surgical), Zimmer Biomet, Vertiflex, Inc., Life Spine, Inc., Medtronic, Globus Medical, Inc., Boston Scientific, Johnson & Johnson and Mikai S.p.A.

Acquisitions/Product Launches

In May 2018, NuVasive, Inc., and Siemens Healthineers entered into partnership to expand its spine surgery line. It provided opportunity to leverage the industry-leading capabilities and R&D expertise to accelerate innovation and address emerging healthcare needs.

In 2020, Medtronic Plc acquired Digital Surgery, a London-based privately-held pioneer in surgical artificial intelligence (AI), data and analytics, and digital education and training.

Key Takeaways

The increase in the number of minimally invasive surgeries is accelerating the Interspinous Spacers demand globally.

Rising geriatric population with spine surgeries and favorable government initiatives to improve healthcare infrastructure is likely to be the major driving factor for the market’s growth.

Asia-Pacific region is projected to record the fastest growth rate during the forecast period (2020-2025) owing to the increasing healthcare expenditure in the region.

Related Reports :

A. Spinal Fusion Market

https://www.industryarc.com/Research/Spinal-Fusion-Market-Research-504267

B. Minimally Invasive Spine Surgery Market

https://www.industryarc.com/Research/Minimally-Invasive-Spine-Surgery-Market-Research-501896

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