Further,
for the in-depth analysis, the report encompasses the industry growth
indicators, restraints, supply and demand risk, along with detailed discussion
on current and future market trends that are associated with the growth of the
market.
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The
global interspinous spacers market is anticipated to grow with a CAGR
of ~6.1% during the forecast period, i.e., 2023-2033. The market is segmented
by end user into hospitals & clinics, orthopedic clinics, and
ambulatory surgical centers. Out of these, the hospitals &
clinics segment captured the largest market share with 53% in the year
2022. The increase in hospitalizations of patients with spinal disorders, as
well as an increase in hospitals worldwide are expected to fuel segment growth
during the forecast period.
The
global interspinous spacers market is estimated to garner revenue
of ~USD 137.7 Million by the end of 2033, up from revenue of
USD ~USD 71.4 Million in the year 2022. The rising elderly
population, growing prevalence of spinal disorders such as degenerative disk
disease, rising medicare expenditure coupled with the growing number of disk
replacement surgeries carried out in hospitals are some of the major
factors anticipated to drive the growth of the market during the forecast
period.
Geographically,
the global interspinous spacers market is segmented into five major
regions including North America, Europe, Asia Pacific, Latin America and Middle
East & Africa region. Out of these, the market in North America held
the largest market share by 25% in the year 2022 owing to the high expenditure
on healthcare, a huge base of patient population, and favorable reimbursement
policies. According to the Centers for Medicare & Medicaid Services,
healthcare expenditures in the United States reached USD 4.1 trillion in 2020, representing 19.7% of the
country's gross domestic product
The
research is global in nature and covers detailed analysis on the market in
North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain,
Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden,
Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America
(Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India,
Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand,
Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE,
Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East
and Africa). In addition, analysis comprising market size, Y-O-Y growth &
opportunity analysis, market players’ competitive study, investment
opportunities, demand for future outlook etc. has also been covered and
displayed in the research report.
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Growing Number Of Geriatrics To Drive the Market Growth
According to the World Health
Organization (WHO), there will be 2.1 billion people over 60 by 2050, which is
an increase of 900 million from 2015.
The
prevalence of low back pain and spinal disorders is higher among older adults
over 60 than among younger adults. In patients over 65 years of age,
lumbar spinal stenosis (LSS) is the most common reason for spine surgery.
Consequently, the market growth for interspinous spacers is expected to be
driven by the growing elderly population.
However, high
treatment cost is expected to operate as key restraint to the growth of global interspinous
spacers market over the forecast period.
This
report also provides the existing competitive scenario of some of the key
players of the global interspinous spacers market which
includes company profiling of Spine Wave, Inc., Boston Scientific Corporation,
Globus Medical, Inc., Spinal Simplicity, Life Spine, Inc., NuVasive, Inc, Medtronic
plc, Zimmer Biomet, Alphatec Holdings, Inc, Paradigm Spine LLC. The profiling
enfolds key information of the companies which encompasses business overview,
products and services, key financials and recent news and developments. On the
whole, the report depicts detailed overview of the global interspinous spacers market that will help
industry consultants, equipment manufacturers, existing players searching for
expansion opportunities, new players searching possibilities and other
stakeholders to align their market centric strategies according to the ongoing
and expected trends in the future.
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strategic minds. Our out of box thinking helps our clients to take wise
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