Interspinous Spacers Market: Increase in Geriatric Population Drives the Market Demand
Interspinous Spacers Market: Overview
This report analyzes the current and future scenario of the global interspinous spacers market for the period 2018 to 2026. Increase in the global geriatric population, rise in demand for minimal invasive surgeries, and surge in incidence of lumbar spinal stenosis are projected to drive the global market during the forecast period. Moreover, innovative product launches and their commercialization across the globe is anticipated to augment the interspinous spacers market.
The report comprises an elaborate executive summary, including a snapshot that provides information on various segments of the global interspinous spacers market. It also provides information and data analysis of the global market with respect to segments based on product, indication, end-user, and region. A detailed qualitative analysis of drivers, restraints, and opportunities of the market has been provided in the overview section. Additionally, the section comprises a competitive matrix and profiles of key market players, along with business overview, to project the competitive landscape of the market.
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Interspinous Spacers Market - Snapshot
The global interspinous spacers market is projected to reach US$ 100.96 Mn by 2026, expanding at a high CAGR during the forecast period. High adoption of minimally invasive surgeries, technological advancements, and acceptance & awareness of interspinous spacers are anticipated to boost market growth. Moreover, increase in geriatric population with spine surgeries is expected to drive the global market during the forecast period. According to research, lumbar spinal stenosis is a leading factor for the geriatric population opting for spine surgeries in the U.S. An article published in AMJ journal in May 2017 stated that over 200,000 adults in the U.S. are affected by lumbar spinal stenosis and the geriatric population is expected to increase to 64 million by 2025. Moreover, favorable reimbursement policies for interspinous spacers have enabled patients to opt for this treatment. The American Medical Association’s Current Procedural Terminology (AMA CPT Panel) Panel approved the addition of category I CPT codes for interspinous spacers. The new category I code replaced the existing category III CPT codes from January 1, 2017.
The global interspinous spacers market has been segmented based on product, indication, end-user, and region. In terms of product, the global market has been bifurcated into static (non-compressible spacers) and dynamic (compressible spacers). The static segment held major market share in 2017. The segment is projected to expand at a faster CAGR during the forecast period, owing to low cost of these spacers which benefits patients in the developing countries. The dynamic segment is anticipated to expand at a high CAGR from 2018 to 2026 owing to low failure rates and therapeutic benefits in the spine disorder treatment. Based on indication, the global interspinous spacers market has been divided into lumbar spinal stenosis, degenerative disc disease, and others. The lumbar spinal stenosis segment held significant market share in 2017, attributed to high prevalence of the condition among the geriatric population and global rise in geriatric population, and rise in adoption of minimal invasive surgery. According to the United Nations, the global geriatric population is expected to triple by 2050 to reach 2.1 billion.
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The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
Key Players of Interspinous Spacers Market Report:
Major players operating in the global interspinous spacers market include Medtronic, NuVasive, Inc., Paradigm Spine (RTI Surgical), Zimmer Biomet, Vertiflex, Inc., Life Spine, Inc., and Globus Medical, Inc. These players are focused on research & development of innovative solutions for spine surgeries, geographic expansion through collaboration and mergers, and new product launches to expand presence in the global market.
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