Interspinous Spacers Market to Witness Comprehensive Growth by 2026

Posted by Aman Jaiswar on September 24th, 2019

The global Interspinous Spacers Market is projected to reach US$ 100.96 Mn by 2026, expanding at a high CAGR during the forecast period. High adoption of minimally invasive surgeries, technological advancements, and acceptance & awareness of interspinous spacers are anticipated to boost market growth. Moreover, increase in geriatric population with spine surgeries is expected to drive the global market during the forecast period.

According to research, lumbar spinal stenosis is a leading factor for the geriatric population opting for spine surgeries in the U.S. An article published in AMJ journal in May 2017 stated that over 200,000 adults in the U.S. are affected by lumbar spinal stenosis and the geriatric population is expected to increase to 64 million by 2025. Moreover, favorable reimbursement policies for interspinous spacers have enabled patients to opt for this treatment. The American Medical Association’s Current Procedural Terminology (AMA CPT Panel) Panel approved the addition of category I CPT codes for interspinous spacers. The new category I code replaced the existing category III CPT codes from January 1, 2017.

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The global interspinous spacers market has been segmented based on product, indication, end-user, and region. In terms of product, the global market has been bifurcated into static (non-compressible spacers) and dynamic (compressible spacers). The static segment held major market share in 2017. The segment is projected to expand at a faster CAGR during the forecast period, owing to low cost of these spacers which benefits patients in the developing countries.

The dynamic segment is anticipated to expand at a high CAGR from 2018 to 2026 owing to low failure rates and therapeutic benefits in the spine disorder treatment. Based on indication, the global interspinous spacers market has been divided into lumbar spinal stenosis, degenerative disc disease, and others. The lumbar spinal stenosis segment held significant market share in 2017, attributed to high prevalence of the condition among the geriatric population and global rise in geriatric population, and rise in adoption of minimal invasive surgery. According to the United Nations, the global geriatric population is expected to triple by 2050 to reach 2.1 billion.

In terms of end-user, the global interspinous spacers market has been categorized into hospitals, ambulatory surgery centers, and orthopedic clinics. The hospitals segment held major share of the market in 2017, followed by the orthopedic clinics segment. High market share of the hospitals segment is due to rise in the rate of hospitalization for spinal disorders, improvement in hospital care, and a range of services offered by hospitals at a single site. The orthopedic clinics segment is expected to expand at a high CAGR in the next few years owing to rise in awareness about spine disorders and their treatments.