Interspinous Spacers Market, by Product Type (Static (Non-compressible Spacers) and Dynamic (Compressible Spacers), by Indication (Lumbar Spinal Stenosis and Degenerative Disc Diseases), by End User (Hospitals, Ambulatory Surgery Centers, and Orthopedic Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook and Opportunity Analysis, 2019-2026

Interspinous spacers, also known as interspinous process decompression systems, are devices implanted between vertebral spinous processes. These spacers are made up of a very strong but lightweight metal (titanium), which is biocompatible in the human body. Lumbar spinal stenosis is a thinning of the spinal canal in the lower back, which causes compression on nerves. The condition develops gradually with age. Radiology tests are used to confirm the diagnosis of moderate degenerative lumbar spinal stenosis. Increasing prevalence of spinal stenosis due to aging and high demand for minimal invasive surgery is expected to drive the interspinous spacers market growth.

Interspinous Spacers Market – Drivers

Increasing product approvals from regulatory bodies is expected to drive the interspinous spacers market growth during the forecast period. For instance, in 2015, the U.S. Food and Drug Administration (FDA) approved Superion InterSpinous Spacer of VertiFlex Inc., VertiFlex Inc. is developer of advanced minimally invasive interventions for spinal stenosis.

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Moreover, favorable reimbursement policies is also expected to drive the interspinous spacers market growth during the forecast period. For instance, in 2018, Paradigm Spine, a company specializing in the treatment of lumbar spinal stenosis, announced the issuance of a broad coverage medical policy from BlueCross BlueShield covering its coflex device for the surgical treatment of lumbar spinal stenosis.

Interspinous Spacers Market –Restraints

However, complications associated with lumbar spinal fusion in older patients with spinal stenosis is a major factor restraining the interspinous spacers market growth. For instance, according to the American Association of Neurological Surgeons’ study on complication associated with lumbar spinal stenosis in 2014, 1 in every 6 elderly patients treated with lumbar spinal stenosis underwent reoperation on the spine within two years of surgery and nearly 1 in every 4 patients was readmitted for a surgery-related complication in the US.

Interspinous Spacers Market -Regional Analysis

On the basis of region, the interspinous spacers market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold dominant position in the Interspinous Spacers Market over the forecast period, owing to increasing geriatric population with spinal stenosis. For instance, according to American Institute of Minimally Invasive Surgery (AIMIS) 2017 report, around 250,000-500,000 U.S. residents show symptoms of spinal stenosis.

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This represents around 1 per 1000 persons older than 65 years and around 5 of every 1000 persons older than 50 years. Around 70 million people in the U.S. are older than 50 years of age.

Asia Pacific is the fastest growing market for interspinous spacers, owing to increasing healthcare expenditure. For instance, according to the Ministry of Health, Labor and Welfare of Japan, US$ 374.12 billion was invested in the healthcare sector in Japan in 2017.

Interspinous Spacers Market -Competitive Landscape

Key players operating in the interspinous spacers market include, Alphatec Spine, Inc., Globus Medical, Inc., Life Spine, Medtronic, Mikai S.p.A, NuVasive, Inc., Paradigm Spine, Synthes GmbH, Vertiflex, Inc., and Zimmer Biomet.

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