Spinal stenosis is a condition which usually occurs in the elderly patients. Stenosis mean abnormal narrowing of a body channel. This mean spinal stenosis is narrowing of the spinal canal. The narrowing of spinal canal occurs due to degeneration of intervertebral disk and facet joint. This condition mainly affects people above 50 years but can also affect younger people who are born with abnormal spinal canal. If the narrowing is minimal symptoms will not occur but too much narrowing can lead to compression of nerves and can be problematic. Spinal stenosis symptoms include lower back pain, numbness in legs and balance problem. It can occur anywhere along the spine.
Increasing prevalence of spinal stenosis is one of the major factor driving the growth of spinal stenosis implant market. Other factors contributing to the growth of the market are increasing older population and rise in the obesity cases which can lead to spinal injury or stenosis. Increasing demand and adoption of the minimally invasive surgeries and better relief over the medication are also factors driving growth in this market.
Spinal stenosis implant market is expected to show significant growth over the forecast period. Increasing case of arthritis and ageing of the population is expected to be the factor facilitating the growth of spinal stenosis implant market. Spacing is devices are expected to be highest revenue generating and fastest growing product segment due to increasing demand for minimally invasive treatments as this procedure has lesser risks involved and also it allows easy movement in comparison to fusion or fixation devices which involves long surgical process and higher blood loss. Along with this spacing devices provide faster and lasting symptoms relief and has lesser hospital stay. Titanium spinal stenosis implants are expected to be fastest growing, and highest selling as titanium is strong and light in weight when compared to the stainless steel implants and it has better elasticity which allows easy movement. Ambulatory surgical units are expected to have the highest number of such surgeries as these units are being used for performing the minimally invasive surgeries and patients don’t need to stay overnight.
Geographically, spinal stenosis implant market can be segmented as North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. North America is the highest revenue generating market for the spinal stenosis implants due to reimbursement policies and better healthcare infrastructures followed by Europe. Higher adoption rate of non-medicated treatment options and focus of major players to aware people is driving growth in this region. Asia Pacific is also expected to show significant growth due to presence of large population pool, ageing population and increasing case of spinal injuries. Japan is expected to be biggest Asia Pacific market for spinal stenosis implants due to increasing geriatric population.
Some of the market participants in the spinal stenosis implant market are Stryker, Paradigm Spine LLC, Vertiflex, Inc., Orthofix Holdings, Inc., Medtronic Public Limited Company, Kyphon, Inc., Abbott and Zimmer Spine. Focus of the companies is changing over the past few years from fixation devices to spacing devices.
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