New York, USA, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Spinal Stenosis Devices Global Market to Observe Impressive Growth at a CAGR of ~5% by 2028 | DelveInsight
The spinal stenosis devices market is expected to grow due to factors such as increasing technological advancement, the rising burden of the geriatric population susceptible to developing spinal disorders, the increasing prevalence of spinal stenosis, the increase in the number of cases of spinal injuries, and the growing focus on improving the safety, affordability, and usability of spinal stenosis devices.
DelveInsight’s Spinal Stenosis Devices Market Insights report provides the current and forecast market analysis, individual leading spinal stenosis devices companies’ market shares, challenges, spinal stenosis devices market drivers, barriers, trends, and key market spinal stenosis devices companies in the market.
Key Takeaways from the Spinal Stenosis Devices Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global spinal stenosis devices market during the forecast period.
- Notable spinal stenosis devices companies such as Spinal Simplicity, Boston Scientific Corporation, Medtronic, Stryker, Surgalign, Zimmer Biomet, NuVasive Inc., Sintea Plustek LLC, Orthofix Medical Inc., Globus Medical, Alphatec Holdings, Inc., Johnson & Johnson, NEO-MEDICAL SA, Premia Spine, ulrich GmbH & Co. KG, B. Braun Melsungen AG, Spineart, Meril Life Sciences Pvt. Ltd., Empirical Spine, Inc., Empirical Spine, Inc., Cousin Surgery, and several others, are currently operating in the spinal stenosis devices market.
- In June 2023, Vertos Medical raised $26 million in a Series C fundraising round. The company’s flagship product is a minimally invasive procedure that eliminates small bits of bone and ligament that cause lumbar spinal stenosis.
- In July 2022, Aurora Spine Corporation received the US FDA clearance for its ZIP™ MIS Interspinous Fusion System indicated for lumbar spinal stenosis.
- In February 2022, Inspan LLC has received FDA 510(k) clearance for an interspinous fixation device that can now be used to treat lumbar spinal stenosis in situations of spondylolisthesis, trauma, tumour, and degenerative disc disease in the non-cervical spine.
To read more about the latest highlights related to the spinal stenosis devices market, get a snapshot of the key highlights entailed in the Global Spinal Stenosis Devices Market Report
Spinal Stenosis Devices Overview
Spinal stenosis is a medical condition characterized by the narrowing of the spaces within the spine, leading to the compression of the spinal cord and nerves. This compression can cause various symptoms, including pain, numbness, weakness, and difficulty with mobility. To address these symptoms and improve the quality of life for individuals with spinal stenosis, several medical devices have been developed. These devices aim to alleviate pressure on the spinal cord and nerves, restore stability to the spine, and help patients regain function.
Spinal Stenosis Devices Market Insights
North America held the greatest proportion of the spinal stenosis devices market in 2021, accounting for 59.57% of all regions. The consistent rise in spinal stenosis cases due to spinal traumas and osteoarthritis is the primary driver driving the spinal stenosis devices market in 2021, accounting for 59.57% of all regions. The consistent rise in spinal stenosis cases due to sp market. Osteoarthritis is a serious health problem, especially among women and the elderly, and it contributes significantly to market growth. According to the Centres for Disease Control and Prevention (CDC) 2021, osteoarthritis affects about 32.5 million US adults. Furthermore, advanced product introductions, with various medicines getting regulatory approval, are projected to fuel the spinal stenosis devices market in the United States. For instance, Aurora Spine Corporation got US FDA authorization for their ZIPTM MIS Interspinous Fusion System intended for lumbar spinal stenosis in July 2022.
To know more about why North America is leading the market growth in the spinal stenosis devices market, get a snapshot of the Spinal Stenosis Devices Market Outlook
Spinal Stenosis Devices Market Dynamics
The rising incidence of spinal stenosis among the growing senior population is one of the notable drivers of the spinal stenosis devices market. It has been noticed that as people age, their chances of developing spinal stenosis increase at an alarming rate. The older population is most vulnerable to spinal stenosis due to factors such as continuing degradation of the ageing spine, which tends to deteriorate with time.
According to DelveInsight’s analysis of spinal stenosis, the number of diagnosed patients in the United States was 3.6 million in 2021, with an expected 3.9 million cases of spinal stenosis in the United States by 2028. As a result of such physiological changes with age, an increase in the elderly population can be directly related to an increase in the population suffering from spinal stenosis. Moreover, the increased prevalence of spinal injuries among people for a variety of reasons are projected to be one of the primary drivers driving the spinal stenosis devices market.
However, the high cost of treatment methods, the danger connected with operations, and the demanding product approval process may act as restraints on the spinal stenosis devices market.
Additionally, the COVID-19 pandemic had a slightly negative impact on the spinal stenosis devices market growth during the first few months due to lockdown impositions, border closures, and other factors disrupting manufacturing, supply, import, export, and other related activities in the spinal stenosis devices market. Furthermore, due to the threat of the SARS-CoV-2 virus, the causative agent of COVID-19, and the uncertainty surrounding the pandemic, many governments around the world were forced to close down spine-related clinics and speciality centres except in cases of emergency. However, the revival of activities in other industries, including healthcare, has boosted the spinal stenosis devices market.
Get a sneak peek at the spinal stenosis devices market dynamics @ Spinal Stenosis Devices Market Dynamics Analysis
| Report Metrics | Details |
| Coverage | Global |
| Study Period | 2020–2028 |
| Spinal Stenosis Devices Market CAGR | ~5% |
| Spinal Stenosis Devices Market Size by 2028 | USD 4.1 Billion |
| Key Spinal Stenosis Devices Companies | Spinal Simplicity, Boston Scientific Corporation, Medtronic, Stryker, Surgalign, Zimmer Biomet, NuVasive Inc., Sintea Plustek LLC, Orthofix Medical Inc., Globus Medical, Alphatec Holdings, Inc., Johnson & Johnson, NEO-MEDICAL SA, Premia Spine, ulrich GmbH & Co. KG, B. Braun Melsungen AG, Spineart, Meril Life Sciences Pvt. Ltd., Empirical Spine, Inc., Empirical Spine, Inc., Cousin Surgery, among others |
Spinal Stenosis Devices Market Assessment
- Spinal Stenosis Devices Market Segmentation
- Spinal Stenosis Devices Market Segmentation By Product Type: Interspinous Spacers, Stabilization Systems, Spinal Arthroplasty Systems, and Interbody Fusion Devices
- Spinal Stenosis Devices Market Segmentation By Application: Lumbar Spinal Stenosis, Cervical Spinal Stenosis, and Thoracic Spinal Stenosis
- Spinal Stenosis Devices Market Segmentation By End User: Hospitals, Ambulatory Surgical Centres, and Others
- Spinal Stenosis Devices Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Which MedTech key players in the spinal stenosis devices market are set to emerge as the trendsetter explore @ Spinal Stenosis Devices Companies
Table of Contents
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Key Factors Analysis |
| 5 | Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Spinal Stenosis Devices Market |
| 7 | Spinal Stenosis Devices Market Layout |
| 8 | Global Company Share Analysis – Key 3-5 Companies |
| 9 | Spinal Stenosis Devices Market Company and Product Profiles |
| 10 | Project Approach |
| 11 | About DelveInsight |
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