Interspinous Spacers Market (Product: Static and Dynamic; and Indication: Lumbar Spinal Stenosis, Degenerative Disc Disease, and Others)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

According to Nova one advisor, the global Interspinous Spacers market size was valued at USD 71.20 million in 2021 and is predicted to hit USD 127.40 million by 2030 with a registered CAGR of 6.10% during the forecast period 2022 to 2030.

Interspinous spacer is a device implanted between two interspinous processes to create space between nerve channels. This procedure is used as a minimally invasive surgery alternative to surgical procedures used to decompress the spinal canal. Spinal stenosis is most commonly caused by wear and tear in the spine due to osteoarthritis. In severe cases of spinal stenosis, doctors recommend minimally invasive surgery to create additional space for the spinal cord or nerves. Various organizations such as the World Health Organization (WHO) and Population Reference Bureau indicate that the percentage of population aged above 50 is increasing at a steady pace compared to the geriatric population. A report published by WHO revealed that the number of people aged 65 years or older is expected to increase from 605 million in 2012 to 2 billion by 2050. Moreover, the Population Reference Bureau (PRB) suggested that the geriatric population in regions such as Europe and Asia Pacific is rising rapidly compared to other developed or developing regions due to low fertility rate. Innovative product launches and their commercialization across the globe are anticipated to augment the global interspinous spacers market. Globally, physicians and surgeons are opting for minimally invasive surgery for spinal pain management. These procedures are gaining popularity over conventional surgeries, such as spinal fusion procedures, in the treatment of LSS, degenerative disc disease, and other related disorders.

Report Scope of the Interspinous Spacers Market

COVID-19 Impact on Interspinous Spacers Market

The COVID-19 pandemic has had a negative impact on the global interspinous spacers market. Governments of affected countries deferred non-essential surgeries and patient visits during the breakout year of COVID-19. Several ICU facilities, such as ventilators, personal protective equipment, and medical staff, were rerouted to COVID-19 cases, prompting the suspension of spinal surgery during the pandemic. This led to substantial decline in overall non-emergency surgeries and treatments, which in turn restricted the usage of vertiflex spacers in spinal pain management. Key players reported decline in revenue due to the pandemic, which led to a decrease in Y-o-Y market share in the interspinous spacers market. However, the market has recovered from COVID-19 due to easing of restrictions by countries across the globe.

Low Cost and New Product Launches Driving Static Segment

The static segment accounted for major market share for interspinous spacers in 2021. Low cost of static spacers, product launches, and favorable reimbursement policies are anticipated to augment the segment during the forecast period. For instance, in April 2022, Spinal Simplicity, a medical device company, announced the launch of the Minuteman G5 implant. Minuteman is a minimally invasive, interspinous interlaminar fusion device intended for the fixation and stabilization of the thoracic, lumbar, and sacral spine, while awaiting bony fusion to occur. Static interspinous spacers are the primary choice of surgeons owing to their multiple advantages such as low cost spacers. Reports claim that over 11,000 X STOP implants have been inserted worldwide, since X STOP received approval from the U.S. Food and Drug Administration (FDA).

Increase in Geriatric Population Propelling Lumbar Spinal Stenosis Segment

In terms of indication, the lumbar spinal stenosis segment is projected to dominate the global market during the forecast period. Increase in geriatric population, high prevalence of LSS among the population aged above 60, and high adoption of minimally invasive surgery procedures are the factors likely to drive the segment during the forecast period. For instance, 250,000 to 500,000 U.S. residents are affected by symptoms of spinal stenosis. This indicates that around 1 in 1,000 people older than 65 years and 5 in 1,000 people older than 50 years of age are affected with spinal stenosis. LSS is the leading preoperative diagnosis for adults older than 65 who undergo spine surgery. According to a United Nations report, around 128 million people in China are above 60 years of age, which is higher than Japan’s entire population. By the end of 2050, China could have around 400 million people aged above 60 years. Hence, surge in the geriatric population is likely to increase the prevalence of LSS.

Regional Outlook of Global Interspinous Spacers Market

North America is projected to be a highly lucrative region of the global market during the forecast period. The region accounted for the largest share of the global market in 2021. High prevalence of degenerative disc disorders and spinal stenosis; and presence of technologically advanced countries are the factors propelling the market in North America. The U.S. dominates the market in North America and is anticipated to sustain its leadership position during the forecast period due to large number of patients with degenerative disc disorders and favorable reimbursement for interspinous spacer devices. Additionally, increase in LSS in the geriatric population is driving the demand for interspinous spacers in the U.S.

Europe was the second-largest interspinous spacers market in 2021. Favorable regulatory and reimbursement scenario, approval of products, and presence of large geriatric population and people with spine disabilities are likely to propel the interspinous spacers market in the region.

The market in Asia Pacific is projected to grow at a significantly high CAGR during the forecast period owing to the increase in geriatric population in countries such as Japan and China, higher incidence rates of LSS & degenerative disc diseases, rise in per capita income, and improving healthcare infrastructure. Moreover, growth in healthcare expenditure and rise in investments by key players in the interspinous spacers market in emerging economies are expected to propel the market in the region.

Key Developments in Global Interspinous Spacers Market

• In April 2022, Spinal Simplicity, a medical device company, announced the launch of the Minuteman G5 implant. Minuteman is a minimally invasive, interspinous interlaminar fusion device intended for the fixation and stabilization of the thoracic, interspinous process, and sacral spine, while awaiting bony fusion to occur. It is designed for attachment to the posterior non-cervical spine at the spinous processes through its bilateral grip plates. It is intended for use with bone graft material placed within the device.
• In December 2021, Spine Wave announced the launch of the Defender Anterior Cervical Plate, which is a titanium plate and screw system that provides fixation for anterior cervical fusion procedures
• In June 2019, Boston Scientific Corporation announced the acquisition of Vertiflex, Inc. This acquisition helped Boston Scientific Corporation expand its pain management product portfolio.
• In May 2019, Globus Medical announced the launch of AERIAL, a minimally invasive expandable interspinous fixation system with independent locking plates

 Some of the prominent players in the Interspinous Spacers Market include:

• Medtronic
• NuVasive, Inc.
• Paradigm Spine (RTI Surgical)
• Zimmer Biomet
• Vertiflex, Inc.
• Life Spine, Inc.
• Globus Medical, Inc.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Interspinous Spacers market

• Interspinous Spacers
• Static
• Dynamic
• Indication
• Lumbar Spinal Stenosis
• Degenerative Disc Disease
• Others
• End-user
• Hospitals
• Orthopedic Clinics
• Ambulatory Surgical Centers

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Interspinous Spacers industry analysis from 2022 to 2030 to identify the prevailing Interspinous Spacers industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Interspinous Spacers industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Interspinous Spacers industry trends, key players, market segments, application areas, and market growth strategies.