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Interspinous Spacers Market Size Estimated to Reach $123.2 Million by 2026

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Increase in the Prevalence of Lumbar Spinal Stenosis Driving the Growth of Interspinous Spacers Market.

Interspinous Spacers Market size is estimated to reach $123.2 million by 2026, growing at a CAGR of 5.6% during the forecast period 2021-2026. Interspinous spacers are the devices that are implanted between vertebrae to help in preserving spinal motion. Interspinous spacers create more space for nerves and spinal cord without removing any bone, with less trauma to muscles, and less blood loss. Interspinous spacers are increasingly being adopted across the world owing to the growing demand for minimally invasive procedures across the world.

The rise in the prevalence of lumbar spinal stenosis in the elderly population, rise in the product launches by key players to reduce sciatica, increase in the demand for interspinous spacers for facet syndrome, and growing investment by the key players to develop advanced interspinous spacers are the factors that are set to drive the growth of the Interspinous Spacers Market for the period 2021-2026.

Interspinous Spacers Market Segment Analysis-By Application

The Interspinous Spacers Market based on the Application can be further segmented into Lumbar Spinal Stenosis, Degenerative Disc Diseases, and Others. The Lumbar Spinal Stenosis segment held the largest share in 2020 and is also estimated to be the fastest-growing segment with a CAGR of 6.4% over the period 2021-2026. This growth is owing to the factors such as the rise in the prevalence of lumbar spinal stenosis in the elderly population across the world and the growing demand for interspinous spacers for facet syndrome.

The growing investments by the key players in research and development activities for developing advanced interspinous spacers is driving the growth of the Interspinous Spacers Market. The Degenerative Disc Diseases segment held the second-largest share in 2020 owing to the factors such as the growing adoption of interspinous spacers for the treatment of degenerative disc diseases and the rise in the product launches by key players to reduce sciatica.

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Interspinous Spacers Market Segment Analysis-By End User

The Interspinous Spacers Market based on the End User can be further segmented into Hospitals and Clinics, Orthopedic Clinics, Ambulatory Surgical Centers, and Others. The Hospitals and Clinics segment held the largest share in 2020 owing to the factors such as the increase in the availability of cost-effective static and dynamic spacers in hospitals and the rise in the investment by the key players to develop advanced interspinous spacers.

The cost-effectiveness in hospitals for the treatment of various diseases are driving the growth of the Interspinous Spacers Market. The Ambulatory Surgical Centers segment is estimated to be the fastest-growing segment with a CAGR of 6.7% over the period 2021-2026.

Interspinous Spacers Market Segment Analysis-By Geography

North America held the largest Share with 31% of the overall market in 2020. The growth in this segment is owing to the factors such as the rise in the prevalence of lumbar spinal stenosis in the elderly population and the increase in product launches by key players to reduce sciatica. The increasing adoption of interspinous spacers for the treatment of degenerative disc diseases is driving the growth of the Interspinous Spacers Market.

Interspinous Spacers Market Drivers

Increase in the Prevalence of Lumbar Spinal Stenosis

The rise in the prevalence of lumbar spinal stenosis across the world has propelled the demand for static and dynamic interspinous spacers owing to their ability to create more space for nerves and spinal cord in the spinal column without removing any bone. The interspinous spacers are becoming one of the best options for the treatment of lumbar spinal stenosis and degenerative disc diseases, which is one of the major factors driving the growth of the Interspinous Spacers Market.

Rise in the Adoption of Minimally Invasive Procedures

Many governments in developed nations are promoting the usage of minimally invasive procedures for the treatment of various spinal diseases owing to their massive demand. The rise in the product approvals of minimally invasive procedures by the Food and Drug Administration (FDA) for the treatment of lumbar spinal stenosis is further propelling the growth of the Interspinous Spacers Market.

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Interspinous Spacers Market Competitive Landscape

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Interspinous Spacers Market. Key companies of this market are Globus Medical Inc, NuVasive Inc, Life Spine Inc, Paradigm Spine, Medtronic, Johnson & Johnson, Boston Scientific, Zimmer Biomet, Mikai S.p.A, and Synthes GmbH among others.

Key Takeaways

Geographically, North America Interspinous Spacers Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the rise in the adoption of interspinous spacers for the treatment of degenerative disc diseases.

The increase in the demand for interspinous spacers for facet syndrome in developing nations is driving the Lumbar Spinal Stenosis segment. However, the increasing complications with lumbar spinal fusion in the elderly population with lumbar spinal stenosis is one of the major factors that is said to reduce the growth of the Interspinous Spacers Market.

Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Interspinous Spacers Market report.

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Source URL: https://marketersmedia.com/interspinous-spacers-market-size-estimated-to-reach-1232-million-by-2026/89037166

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Release ID: 89037166

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