Leeds, UK -- (SBWIRE) -- 07/12/2019 -- A rising geriatric population and increasing cases of obesity which lead to spinal injuries are the primary factors that drive the market growth. Additionally, increasing adoption of minimally invasive surgical procedures and better medication for pain relief are the other factors that accelerate market growth. The global spinal stenosis implants market is calculated to register a CAGR of over 5.8% during the forecast period of 2019 to 2029.
However, stringent regulatory guidelines for approving new medical devices, lack of reimbursements in developing countries and high procedural costs can impede the market growth significantly.
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Insights on Global Spinal Stenosis Implants Market:
1. By Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
North America has superior healthcare infrastructures and reimbursement policies making this region dominate the global market. European region follows North America owing to the awareness created by key market players.
However, it is the Asia Pacific region that is anticipated to dominate the market as countries like India and China have higher rates of spinal injuries, owing to high manual work. Additionally, there has been a rise in awareness regarding unconventional spine treatment techniques in the region.
2. By Product Type
- Interspinous Spacer Devices
o Static Interspinous Spacer Devices
o Dynamic Interspinous Spacer Devices
- Pedicle Screw-based Stabilization Systems
The dynamic interspinous spacer device dominates the market segment due to the flexibility it offers to the patient post decompressive surgery. However, the pedicle screw-based stabilization system is likely to dominate the global market owing to better fusion as a result of smooth micro movements across endplates. Furthermore, it can protect implant failure due to better implant load sharing.
3. By Material
o Stainless Steel
Biomaterial segment dominates the material segment owing to the disadvantages of metallic spacers like galvanic corrosion. Biomaterials like PEEK-optima polymer offer a high-quality bone bridging and it enhances the overall mechanical performance of the body.
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- Tier 1 players- established companies in the market with a major market share
- Tier 2 players
- Emerging players which are growing rapidly
- New Entrants
Major Market Players:
- Vertiflex Inc.
- Premia Spine, Ltd.
- Paradigm Spine, LLC
- Zimmer Biomet Holdings Inc.
- Orthofix Holdings, Inc.
- DePuy Synthes (Johnson and Johnson)
- Stryker Corporation
- NuVasive, Inc.
- RTI Surgical, Inc.
FutureWise Key Takeaways:
- Growth prospects
- SWOT analysis
- Key trends
- Key data-points affecting market growth
Objectives of the Study:
- To provide with an exhaustive analysis on the global spinal stenosis implants market by region, by product type, by material type
- To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
- To evaluate and forecast micro-markets and the overall market
- To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and middle east & Africa
- To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
- Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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