What Has Been Spinal Stenosis Devices Market in Recent Years?
The spinal stenosis devices market has seen considerable growth due to a variety of factors.
• There has been a significant expansion in the market size of spinal stenosis devices in the past few years. Its growth is expected to rise from $9.80 billion in 2024 to $10.36 billion in 2025, with a compound annual growth rate (CAGR) of 5.7%.
The increase in the historical timeframe can be associated with the escalating number of spinal stenosis cases among the growing elderly population, a rise in the occurrence of spinal disorders and degenerative diseases, an increasing incidence of spinal injuries, a surge in the frequency of spinal diseases, along with a growing prevalence of spinal disorders in both the young and older populace.
What Is the Forecasted Market Size and Growth Rate for The Spinal Stenosis Devices Market?
The spinal stenosis devices market is expected to maintain its strong growth trajectory in upcoming years.
• The market for spinal stenosis devices is anticipated to experience robust growth in the ensuing years, increasing to $12.75 billion by 2029, with a compound annual growth rate (CAGR) of 5.3%.
The growth during the forecast period can be credited to the rising demand for minimally invasive surgeries, heightened focus on minimally invasive spine surgery (miss), rising health care expenditure, and investments in potential markets. Expected trends for the forecast duration encompass the evolution of spinal implant technology and surgical procedures, increased use of biodegradable and 3d-printed implants, and notable collaborations and product innovations.
What Factors Are Driving Growth In The Spinal Stenosis Devices Market?
The escalating occurrence of spinal damages is anticipated to boost the expansion of the spinal stenosis devices market in the future. Spinal damages pertain to harm inflicted on the spinal cord or associate structures, specifically denoting traumatic injury that disrupts sensory and motor signal conduction, thus potentially resulting in the loss of movement, functionality, and sensation beneath the injury area. The escalating occurrence of spinal damages is largely due to an increase in traumatic events like car accidents and falls, particularly among the elderly, as well as a burgeoning prevalence of non-traumatic reasons like degenerative ailments and aging-related conditions. Spinal stenosis devices provide focused relief and structural reinforcement by easing nerve compression, bettering spinal alignment, and boosting mobility, thus significantly enhancing the life quality of patients suffering from spinal injuries. For instance, as per the National Spinal Cord Injury Statistical Center, in May 2023, a US-based organization providing data on the spinal cord, there are 18,000 reported new spinal injuries each year, with an annual incidence rate of 54 per million. Furthermore, it is projected that roughly 302,000 individuals in the USA have undergone a traumatic spinal cord injury. Hence, the escalating occurrence of spinal injuries is fueling the expansion of the spinal stenosis devices market.
What Key Areas Define The Segmentation Of The Global Spinal Stenosis Devices Market?
The spinal stenosis devices market covered in this report is segmented –
1) By Product Type: Interspinous Spacers, Stabilization Systems, Spinal Arthroplasty System, Interbody Fusion Devices
2) By Application: Lumbar Spinal Stenosis, Cervical Spinal Stenosis, Thoracic Spinal Stenosis
3) By End User: Hospitals, Ambulatory Surgical Centres, Others End Users
Subsegments:
1) By Interspinous Spacers: Single-Level Spacers, Multi-Level Spacers, Expandable Spacers
2) By Stabilization Systems: Pedicle Screw Systems, Lateral Screw Systems, Dynamic Stabilization Systems
3) By Spinal Arthroplasty System: Cervical Arthroplasty Systems, Lumbar Arthroplasty Systems, Artificial Disc Replacements
4) By Interbody Fusion Devices: PEEK (Polyetheretherketone) Devices, Titanium Interbody Devices, Bioactive And Biocompatible Devices
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How Are Emerging Trends Reshaping The Dynamics Of The Spinal Stenosis Devices Market?
Leading businesses in the spinal stenosis devices market are prioritizing technological innovations like minimally invasive surgical procedures to boost surgical accuracy and cut down healing periods. Minimally invasive surgical methods involve making small incisions, also known as ports, to reach internal organs, significantly reducing bodily trauma. These methods use specialized tools such as cameras and trocars, enabling surgeons to carry out operations with less discomfort, shorter recovery periods, and lower risk of complications compared to conventional open surgery. For example, in January 2024, Accelus, a US medical technology company offering inventive solutions in spinal surgery, unveiled the linesider modular-cortical system. This technology permits surgeons to place screw shanks earlier in spinal implant procedures and modify constructs with modular tulips and rods. It provides both open modular and cortical modular sets to cater to different surgical techniques. Spinal implants play a crucial role in stabilizing and supporting the spine during operations, assisting in correcting deformities, fractures, or degenerative illnesses and enhancing patient performance and quality of life.
Who Are the Key Players in the Spinal Stenosis Devices Market?
Major companies operating in the spinal stenosis devices market are include:
• Johnson & Johnson
• Medtronic plc
• Stryker Corporation
• Boston Scientific Corporation
• Zimmer Biomet Holdings Inc.
• Globus Medical Inc.
• NuVasive Inc.
• Orthofix Medical Inc.
• B. Braun Melsungen AG
• Xtant Medical
• Alphatec Holdings Inc.
• Vertos Medical Inc.
• Spineart SA
• Spine Wave Inc.
• Spinal Simplicity LLC
• Premia Spine
• Sintea Plustek LLC
• Cousin Surgery
• Meril Life Sciences Pvt. Ltd.
• Empirical Spine Inc.
What Is The Most Dominant Region In The Spinal Stenosis Devices Market?
North America was the largest region in the spinal stenosis devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the spinal stenosis devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
