Cyclic innovation to drive the Spinal Stenosis Implant Market
The Spinal Stenosis Implant Market shall be growing unabatedly in the future. The healthcare vertical is expected to go “personalized” in the next 10 years. Thus, genomics and genetics, along with the other biologic information, going personalized will help in early diagnosis of the disease and also how patients will respond to the treatments. Likewise, the healthcare vertical would be there to make greater strides in the forecast period.
The Spinal Stenosis Implant Market will be worth US$ XX Million at a CAGR of 5.7% between 2026. With seamless digital exploration on the anvil, greater patient volume is likely to be enclosed worldwide with no geographical barriers to hold back. Telehealth is there is added to the digital transformation wave, thereby revolutionizing the healthcare vertical.
The most common causes of spinal stenosis is “wear and tear” arthritis or Osteoarthritis of the discs between the vertebrae and spinal columns. Rising prevalence of osteoarthritis is expected to propel the growth of spinal stenosis implants market style=”font-weight: 400;”>.
According to World Health Organization, an estimated 10% to 15% of all adults aged over 60 suffer from a certain degree of OA, and the prevalence is higher among women than men. Across the EU member states, the prevalence of diagnosed OA varies from 2.8% in Romania to 18.3% in Hungary.
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- Vertiflex Inc.
- Premia Spine, Ltd.
- Paradigm Spine, LLC
- Zimmer Biomet Holdings Inc.
- Orthofix Holdings, Inc.
- DePuy Synthes (Johnson and Johnson)
- Stryker Corporation
- NuVasive, Inc.
- RTI Surgical, Inc.
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Ageing population and growth in related lifestyle diseases such as obesity are the main factors contributing to the increasing prevalence of OA. Growth in the prevalence of OA is expected to drive the global spinal stenosis implants market in the forecast period.
Spinal Stenosis Implants Market: Key Dynamics
The rise in geriatric population is an influencing factor for the growth of spinal stenosis implants market. The geriatric population is more prone to osteoarthritis and other fall related injuries and spinal injuries.
According to one of the NIH-funded Census Bureau reports in 2016, around 8.5% of the world population was aged 65 years and above, and by 2050, this percentage is expected to grow to around 17%.
Apart from the rise in geriatric population, the prevalence of lifestyle related diseases such as obesity and type 2 diabetes, is increasing worldwide. Lack of physical activity and sedentary lifestyle are among the prime factors contributing to growth in the incidence of these diseases.
Rise in geriatric population and other lifestyle-related diseases is also associated with different orthopedic disorders, which include OA and spinal stenosis is expected to positively impact the growth of the spinal stenosis implants market.
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Spinal injury is one of the causes of spinal stenosis. It is one of the major types of injuries among the population in North America. According to Spinal Cord, Inc., in 2015, 276,000 people suffer from spinal injury and on an average, 12,500 new people are suffering from spinal injury. Increasing number of trauma cases is also one of the prime factors responsible for the growth of the spinal stenosis implants market.
Spine surgery is a continuously evolving field, where the introduction of new technologies and research continues to expand the available treatment options. The introduction of motion-preserving devices is expected to drive the spinal stenosis implants market growth during the forecast period.
The spinal stenosis implants market has high growth potential in populated and growing economies such as China, India, Brazil, South Africa and others. These countries have higher rates of spinal injury due to the increasing number of road accidents, falls, violence, and similar other factors.
These markets are highly lucrative for medical device companies owing to changes in disease patterns due to lifestyle changes, rising affluence, improved access to healthcare services, and rise in the demand for quality healthcare.
Spinal Stenosis Implants Market: Segmentation
PMR has segmented the global spinal stenosis implants market by product type, material type, by surgical procedure and end user. The spinal stenosis implants market, by product type, is segmented into interspinous spacer devices for spinal stenosis implants and pedicle screw-based stabilization systems for spinal stenosis implants.
Interspinous spacer devices for spinal stenosis implants are further segmented into static interspinous spacer devices for spinal stenosis implants and dynamic interspinous spacer for spinal stenosis implants devices.
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By material, the spinal stenosis implants market is segmented into metallic spinal stenosis implants and biomaterial spinal stenosis implants. By surgical procedure spinal stenosis market is segmented into spinal stenosis implants for decompression surgery and spinal stenosis implants for stabilization surgery.
Spinal stenosis implants for decompression surgery is further segmented into spinal stenosis implants for Foraminotomy, spinal stenosis implants for Laminotomy and spinal stenosis implants for Laminectomy. Spinal stenosis implants, by end users, are segmented into Hospitals, Ambulatory Surgical Centers and Specialty Orthopedic Clinics.
Region-wise segmentation includes North America, Latin America, Europe, Asia-Pacific excluding China, China and Middle East & Africa. The biomaterial spinal stenosis implants segment in the Spinal stenosis implants market is expected to witness a significant growth during the forecast period.
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