Transparency Market Research (TMR) has
published a new report titled, ‘Interspinous Spacers Market - Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ According to
the report, the global interspinous spacers market was valued at
US$ 63.45 Mn in 2017 and is projected to expand at a high CAGR during the
forecast period. Rise in awareness & demand for minimal invasive surgeries,
favorable reimbursement policies for interspinous devices, and increase in the
geriatric population are expected to augment the global market from 2018 to
2026. The global interspinous spacers market is likely to be driven by increase
in incidence of lumber spinal stenosis and innovative product launches.
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Rise in Demand for Minimally
Invasive Surgeries and Awareness about Spine Disorder Treatments to Propel
Market
The global interspinous spacers market is growing at a rapid pace,
driven by increase in awareness about treatments for spine related disorders
and adoption of minimally invasive surgeries. Acceptance of minimally invasive
surgeries by physicians and surgeons creates awareness about the treatment of
spinal disorders. Technological advancements in minimally invasive surgical procedures
have led to the development of various interspinous process decompression
devices. Interspinous spacer placement has lower complication rates than
decompression and spinal fusion techniques. Interspinous spacers are widely
used in geriatric population, as elderly patients are not comfortable with
surgery due to health conditions.
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Favorable Reimbursement Scenario
Drives Demand for Interspinous Spacers
Strong reimbursement policies for interspinous spacers in
developed countries such as the U.S., Australia, New Zealand, the U.K., and
Germany have enabled most of the affected patients to opt for effective
treatment methods with quality products. These reimbursement policies have
significantly driven the revenue for leading global players in the global
market. For instance, in November 2015, the Centers for Medicare and Medicaid
Services (CMS) included Vertiflex, Inc.’s Superion Interspinous Spacer in the
list of approved surgical procedures in ambulatory surgery centers with effect
from January 1, 2016. Restructuring of existing reimbursement policies to
incorporate and expand the new product range in the reimbursement schemes in
most of countries boosts the growth of the global interspinous spacers market.
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North America Dominated Global
Market
North America dominated the global interspinous spacers market in
2017, owing to high prevalence of lumbar spinal stenosis, technological
advancements, rise in adoption of interspinous spacers, investments in research
& development, and well-established health care infrastructure. According
to research, rise in prevalence of degenerative disc disorders & lumbar
spinal stenosis in the geriatric population propels the market in North
America. Moreover, 250,000 and 500,000 people in the U.S. are estimated to be
affected by symptoms of spinal stenosis. This number indicates that around 1 in
1,000 persons older than 65 and 5 in 1,000 persons older than 50 are affected
by spinal stenosis.
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Increase in Geriatric Population
Drives Demand
The geriatric population is at higher risk of developing degenerative
disc disorders and lumbar spinal disorder conditions, as these are caused by
age-related degeneration and hypertrophy of the invertible disks, ligament
flava, and facet joints. Between 20% and 30% of asymptomatic adults older than
60 have imaging evidence of spinal stenosis. A report published by WHO stated
that the number of people aged 65 years or older is expected to increase to 2.1
billion by 2050. A population based study in Japan was conducted which revealed
that the incidence rate of lumbar spinal stenosis was about 1.7% to 2.2% in the
age group 40 to 49, while the incidence rate in the age group 70 to 79 was
10.3% to 11.2%.
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Investments in R&D and M&A
by Key Players Propel Global Market
Key players dominating the global interspinous spacers market are
Medtronic, NuVasive, Inc., Paradigm Spine (RTI Surgical), Zimmer Biomet,
Vertiflex, Inc., Life Spine, Inc., and Globus Medical, Inc. These players focus
on mergers & acquisitions and are investing in the development of
interspinous spacers and making these available to the patient population.
Medtronic's R&D efforts are directed toward maintaining or achieving
technological leadership in different markets. Moreover, in November 2018, RTI
Surgical announced the acquisition of Paradigm Spine to enhance its footprint
and expand the product portfolio across regions.
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