Interspinous Spacers Market size is poised to cross USD 138 million by the end of 2033, growing at a CAGR of 6% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of interspinous spacers was over USD 71 million. The growth of the market can be attributed primarily to the rising incidence of lumbar spinal stenosis in the population worldwide, owing to unhealthy lifestyles, illnesses, and accidents. For instance, a report of 2022 calculated that about 12% of American adults suffer from lumbar spinal stenosis, and nearly 19% of the population older than 60 years suffer from spinal stenosis.
Apart from the aforementioned factors, there are several other factors that are responsible for market growth. These factors are the increasing cases of degenerative disc disorders along with lumbar spinal stenosis, and other spinal disorders. Furthermore, with the rising cases of chronic and acute disorders, the demand for minimally invasive surgeries has soared which in turn is anticipated to bring lucrative growth opportunities for market expansion. Also, the high number of product approvals from government regulatory agencies, growth in technological advancement, and favorable compensation policies for patients is expected to generate significant revenue during the analysis period. In addition, the surge in awareness level about interspinous spacers and the advantages offered by them is also considered to fuel market growth.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~6% |
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Base Year Market Size (2022) |
~USD 71 Million |
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Forecast Year Market Size (2033) |
~USD 138 Million |
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Regional Scope |
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End-user (Hospitals & Clinics, Orthopedic Clinics, Ambulatory Surgical Centers)
The global interspinous spacers market is segmented and analyzed for demand and supply by end-user into hospitals & clinics, orthopedic clinics, and ambulatory surgical centers. Among these segments, the hospitals and clinics segment are attributed to holding the largest market share by the end of 2033 in the global interspinous spacers market owing to the rising number of spinal surgeries carried out in hospitals. Moreover, the growing number of hospitals across the world is expected to augment segment growth over the forecast period. The Organization for Economic Cooperation and Development (OECD) stated that the number of hospitals present in the United States grew from 5,564 in 2015 to 6,090 in 2019. Furthermore, the presence of proper facilities to carry out surgical producers to fit interspinous spacers along with favorable reimbursement policies offered by various hospitals across the globe is another factor expected to impetus a significant revenue generation.
Indication (Lumbar Spinal Stenosis, Degenerative Disc Disease)
The global interspinous spacers market is also segmented and analyzed for demand and supply by indication into lumbar spinal stenosis, degenerative disc disease, and others. Out of these, the lumbar spinal stenosis segment is projected to hold the largest share, backed by rising cases of lumbar spinal stenosis across the world. A recent report suggested that in the United States around 200,000 adults are affected by lumbar spinal stenosis, resulting in considerable pain and disability. Furthermore, the increased requirement of minimally invasive procedures by patients is expected to bring profitable opportunities for segment growth. Also, the rising number of spinal disorders is leading to increased spinal surgeries which again rises the demand for interspinous spacers during treatment procedures.
Our in-depth analysis of the global market includes the following segments:
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By Product |
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By Indication |
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By End User |
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North American Market Forecast
The North America interspinous spacers market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the increasing prevalence of spinal diseases and back pain along with increased healthcare spending on the treatment process. The healthcare spending of the United States reached USD 4.1 trillion in 2020, representing 19.7% of the country's GDP, according to the Centers for Medicare & Medicaid Services. Further, the presence of a strong healthcare network in the region, along with the availability of supportive policies by the regulatory bodies that promote the development of novel and technologically advanced interspinous spacers are also anticipated to contribute to the market growth in the region. In addition, the region's expanding healthcare industry and the presence of a high number of hospitals and clinics in the region are also anticipated to boost market growth during the forecast period. Moreover, the burgeoning geriatric population with lumbar spinal stenosis and degenerative disc disease along with rising accidents and incidents leading to disorders is also projected to fuel the market growth in the region.
Spine Wave, Inc. launched its Salvo 5.5/6.0mm spine system featuring the company's innovative modular screw design.
Boston Scientific Corporation announced a definitive agreement to purchase Vertiflex, Inc., a privately held company that has developed a minimally-invasive device to treat patients with lumbar spinal stenosis (LSS).
Author Credits: Radhika Gupta, Shivam Bhutani
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