Spinal Stenosis Implant Market

Spinal Stenosis Implants Market Outlook (2022 - 2026)

Spinal Stenosis Implants Market witnessed a CAGR of 5.5% between 2013 and 2021. The global Spinal Stenosis Implants Market is expected to witness a 5.5% CAGR between 2022 and 2026. In 2022, the global Spinal Stenosis Implants Market size was worth US$ 3,585 million, which is projected to reach US$ 4,439.3 million by the year 2026.

Spinal Stenosis Implants Market Demand Analysis (2013-2021) v/s Market Outlook (2022-2026)

Spinal Stenosis Implants Market is expected to witness a CAGR of 5.5% during the forecast period between 2022 and 2026. The rise in spinal deformity and adoption of sedentary lifestyle are contributing to the increase in demand for Spinal Stenosis Implants Market. Furthermore, the rising cases of spinal trauma are expected to drive the growth for Spinal Stenosis Implants Market.

What is expected to keep the Hopes High for Spinal Stenosis Implants Market?

• An increase in the number of spinal deformities and the growing preference for Minimally Invasive Surgery

The rising incidences of spinal deformities like degenerative spondylolisthesis and degenerative scoliosis among older population and obese people is increasing the need for spine surgeries, which is driving the demand for Spinal Stenosis Implants. These days, minimally invasive spinal stenosis implants surgery for treatment is gaining popularity among patients and surgeons due to better outcomes when compared to traditional open techniques for spinal stenosis implants surgery. The growing cases of spinal trauma and the increasing preference for minimally invasive surgery are expected to boost the Spinal Stenosis Implants Market significantly throughout the forecast period.

• Adoption in the sedentary lifestyle

Apart from the growing geriatric population, the frequency of lifestyle-related disorders in the younger population is rising globally. Lack of physical exercise and sedentary lifestyle are two of the most important factors leading to the rise in the prevalence of these disorders. Lifestyle-related diseases are also linked to various orthopaedic conditions such as OA and spinal stenosis, which are predicted to boost the expansion of the spinal stenosis implants market.

What restraints is the Spinal Stenosis Implants Market subject to?

• “High Cost of Spinal Surgeries”

The high cost of spinal surgeries is the most significant impediment to market expansion in developing nations. The overall growth of the Spinal Stenosis Implants Market has slowed down in developing economies due to high surgery costs, which are not affordable for the majority of low and middle-class household population. Apart from the high surgery cost, the other obstacles that are likely to limit the market growth include higher medication, therapy, test, and rehabilitation expenses.

How has Covid-19 affected the Spinal Stenosis Implants Market?

“Drop in the sales due to lockdown”

The COVID-19 pandemic had a negative impact on the global economy due to strict lockdowns to stop the spread of the virus. The Spinal Stenosis Implants Market witnessed a significant drop in sales and disruptions in import and export activities of spinal implants and surgical devices around the world.

Competitive Landscape

Spinal Stenosis Implants industry is very competitive and highly consolidated due to the presence of several large players. Key players in the market are focusing on mergers and acquisitions as the industry is in the growth phase. Companies are making strategic decisions to engage in these modes of inorganic expansion in order to expand their product portfolios and grow their market share.

• Aurora Spine Corporation got FDA 510(k) approval for the DEXA-CTM Cervical Interbody System in August 2021.
• Camber Spine got FDA 510(k) approval for both its SPIRA-P Posterior Lumbar Spacer and SPIRA-T Oblique Posterior Lumbar Spacer devices in August 2021.
• Aurora Spine Corporation successfully introduced its proprietary SiLOTM Posterior SI Joint Fusion System in March 2021.

Spinal Stenosis Implants Industry Report Scope

Spinal Stenosis Implants Market Categorization

Spinal Stenosis Implants Market by Material

• Metallic
• Biomaterial

Spinal Stenosis Implants Market by Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa (MEA)

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