The latest market report published by Credence Research, Inc. “Interspinous Spacers Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global interspinous spacers market was valued at US$ 63.0 Mn in 2017 and expected to reach US$ 102.3 Mn by 2026, expanding at a CAGR of 5.6% from 2018 to 2026.
Browse the full report Interspinous Spacers Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026 report at https://bit.ly/2GE2Nvu
High uptake of minimally invasive surgical procedures for musculoskeletal treatments, prominent technological advancements, improving awareness and increasing disease incidence are the key factors driving the global interspinous spacers market. Furthermore, visible product pipeline along with improving clinical evidence are opening new market penetration opportunities for the manufacturers of interspinous spacers.
Static (compressible) spacers currently hold the larger revenue share with higher CAGR due to proven efficacy and cost effectiveness. Additionally, dynamic spacers due to lower failure rates will be witnessing gradual growth during the forecast period. Lumbar spinal stenosis is the most prevalent condition which demands surgical intervention with decompression. This makes lumbar spinal stenosis the largest application area for interspinous spacers followed by grade I degenerative spondylolisthesis. The prevalence of lumbar spinal stenosis is also significantly high in the geriatric population, which forms the largest patient group for interspinous spacers implantation procedures.
Geographically, Asia Pacific will be witnessing rapid market growth during the forecast period. The prime factors supporting the growth of Asia Pacific market are rapidly developing healthcare infrastructure, increasing medical expenditure, and changing regulatory environment to support adoption of minimally invasive procedures. Other major attributes of Asia Pacific market are significant pool of senescent population, growing incidence of spinal injuries, improving awareness and skills in the healthcare system, growing disposable incomes, and competitive procedure costs. In terms of revenue, Europe.
The major market players in this industry are engaged in intensive research and development programs to introduce the next generation surgical solutions with improved safety and efficacy outcomes. Some of the major companies engaged in the interspinous spacers market are Medtronic plc, Zimmer Biomet, NuVasive, Inc., Life Spine, Inc., RTI Surgical Holdings, Inc. (Paradigm Spine LLC), Vertiflex, Inc., Globus Medical, Inc., Synthes GmbH (DePuy Synthes), Mikai S.p.A. and Alphatec Spine, Inc.
Key Market Movements:
- Increasing pool of geriatric population along with corresponding growth in prevalence of musculoskeletal and spinal disorders
- Growing incidence of spinal injuries due to automobile accidents, and falls; and high yearly expenses incurred in patient care through conventional treatments
- Perpetual advancement in the field of minimally invasive surgeries in the form of costs, infection rate
- Growing awareness in the patient population about benefit from spacers implantation and improving skills of surgeons