Interlaminar Device Market Segmentation by Product Type (Interspinous Distraction Devices, and Coflex Device); by Surgery Type (Open Surgery, and Minimally Invasive Surgery); and by End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Skilled Nursing Facilities) – Global Demand Analysis & Opportunity Outlook 2031

Global Interlaminar Device Market Highlights Over 2022 - 2031

The global interlaminar device market is estimated to garner a large amount of revenue by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed primarily to the increasing advancements in spine surgery technologies, coupled with the growing prevalence of spinal disorders across the globe. As per a report published by the National Spinal Cord Injury Statistical Center in 2018, the annual incidence of spinal cord injury in the United States alone was 54 cases per 1 million people, or 17,700 new cases every year. Along with these, benefits of interlaminar devices include longer lasting relief from discomfort, shorter hospital stay and recovery time, and better treatment adaptability, which are also expected to accelerate the market growth significantly in the near future. Furthermore, rising emphasis of improving the healthcare infrastructure worldwide, and introduction of unique and novel products by market players are projected to offer lucrative opportunities for market growth in the upcoming years.

The market is segmented by end user into hospitals, clinics, ambulatory surgical centers, and skilled nursing facilities, out of which, the hospitals segment is anticipated to hold the largest share in the global interlaminar device market. This can be accounted to the high preference of patients to get treatment from skilled professionals, and availability of advanced medical equipment in a hospital facility. Additionally, on the basis of surgery type, the minimally invasive segment is predicted to observe significant growth during the forecast period, which can be credited to the growing adoption of minimally invasive spinal surgeries around the world. Apart from this, this type of surgery includes less postoperative pain, and fewer operative and post-operative major complications, which is also assessed to boost the growth of the market segment in the future. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Interlaminar Device Market Regional Synopsis

Regionally, the global interlaminar device market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in North America is estimated to acquire the largest share over the forecast period on the back of the increasing number of patients with spinal cord injuries, and well-established healthcare infrastructure in the region. In addition, high health expenditure, especially in the United States, is also expected to boost the growth of the market in the region in the coming years. According to the Centers for Medicare & Medicaid Services (CMS), the healthcare spending in the United States reached a value of USD 4.1 trillion, growing by 9.7% in 2020. As a share of the nation’s Gross Domestic Product, the health spending accounted for 19.7%. Moreover, the market in Europe is also projected to grab a notable share by the end of 2031, owing to the favorable reimbursement scenario, and growing treatment rates for degenerative spine disorders in the region.

The global interlaminar device market is further classified on the basis of region as follows:

• North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
• Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global interlaminar device market includes the following segments:

By Product Type

• Interspinous Distraction Devices
• Coflex Device

By Surgery Type

• Open Surgery
• Minimally Invasive Surgery

By End User

• Hospitals
• Clinics
• Ambulatory Surgical Centers
• Skilled Nursing Facilities

Growth Drivers

• Increasing Advancements in Spine Surgery Technologies
• Growing Prevalence of Spinal Disorders Globally

Challenges

• Poor Healthcare Infrastructure in Underdeveloped Regions

Top Featured Companies Dominating the Market

• NuVasive, Inc.
  • Company Overview
  • Business Strategy
  • Key Product Offerings
  • Financial Performance
  • Key Performance Indicators
  • Risk Analysis
  • Recent Development
  • Regional Presence
  • SWOT Analysis 
• Zimmer Biomet
• Life Spine, Inc.
• Xtant Medical
• Alphatec Holdings, Inc.
• Amedica Corporation
• Paradigm Health System
• Bioventus LLC
• Medical Device Business Services, Inc.
• Meditech Spine, LLC