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12.08.2022 03:30

Interspinous Spacers Market is Estimated to Progress at CAGR of 6.09% during Forecast Period, notes TMR Study

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  • For persons over 65 years undergoing spine surgery, LSS is the most common preoperative diagnosis. Therefore, rising number of elderly people is expected to drive of Lumbar Spinal Stenosis (LSS) segment in the market
  • The introduction of innovative products throughout the world is predicted to expand the interspinous spacers market during the forecast period

WILMINGTON, Del., Aug. 12, 2022 /PRNewswire/ -- The interspinous spacers market size was valued at US$ 70.94 Mn in 2021. The global market is expected to rise at a CAGR of 6.09% during the forecast period, from 2022 to 2031. The global interspinous spacers market is predicted to attain value of over US$ 127.33 Mn by 2031. The global interspinous spacers market is being driven by a rise in the elderly population, increasing demand for minimally invasive technologies, as well as advent innovative products.

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Age raises the likelihood of lumbar spinal disorders and degenerative disc disease. In patients over 65 years, lumbar spinal stenosis (LSS) is considered the most frequent cause of spine surgery. The interspinous spacer, also known as the vertical spacer, is used to relieve LSS-related discomfort. Leading players in the interspinous spacers market have made major R&D investments to create and introduce interspinous spacers. Over the past several years, numerous product launches and commercialization have taken place all over the world. The global market, however, is expected to be constrained by the high percentage of reoperation risk following the insertion of interspinous spacers.

In addition, the Population Reference Bureau (PRB) reported that the low birth rate in regions like Asia Pacific and Europe is causing the elderly population to grow more quickly than in other industrialized or developing regions. The growth of the interspinous spacers market is expected to be driven by frequent introduction of new products and commercialization of those products across the world.

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Key Findings of Market Report

  • In 2021, the interspinous spacers market was dominated by the static segment. New product launches, low static spacer costs, and supportive reimbursement policies are predicted to expand the category during the forecast timeframe. The most popular option among surgeons is static interspinous spacers due to their many benefits, including being inexpensive. These spacers are one of the important ongoing trends of the interspinous spacers market.
  • The lumbar spinal stenosis category is anticipated to lead the global market in terms of indication during the course of the forecast period. Rise in the elderly populace, high usage of minimally invasive surgery techniques, and a high prevalence of LSS in those over 60 years are expected bolster growth of the global market.
  • North America is anticipated to be a particularly promising region of the global market during the forecast period. In 2021, the region held the highest share of the global market. The regional market is being driven by the high incidence of spinal stenosis and degenerative disc conditions, as well as the existence of technically savvy countries. The North America market is expected to be dominated by the US, and it is projected that this dominance will continue during the forecast period. Due to the high prevalence of degenerative disc diseases amongst patients as well as the beneficial reimbursement policies for interspinous spacer devices, the US has witnessed such growth.

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Global Interspinous Spacers Market: Key Players

Some of the key market players are

  • Globus Medical, Inc.
  • Zimmer Biomet
  • Life Spine, Inc.
  • Medtronic plc.
  • Vertiflex, Inc.
  • NuVasive, Inc.

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Global Interspinous Spacers Market: Segmentation

Product Type

  • Static
  • Dynamic

Indication

  • Lumbar Spinal Stenosis
  • Degenerative Disc Disease
  • Others

End User

  • Hospitals
  • Orthopedic Clinics
  • Ambulatory Surgical Centers

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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Transparency Market Research Inc.
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