Spinal stenosis is a major cause of spinal compression. Spinal stenosis is referred to as narrowing of spaces present within the spine, which exerts pressure on the nerves traveling through the spine. Some of the symptoms of the spinal compression include neck pain, back pain, besides others. Increasing prevalence of cancer and spinal stenosis are the major drivers for the market growth. Spinal cord compression (SCC) is often diagnosed in oncology patients, affecting their function, and general quality of life. The most common cause of spinal cord compression in cancer patients is metastasis to the spine. According to the American Cancer Society, the global burden of cancer is expected to grow. Moreover, it is estimated that 21.7 million new cancer cases accounting for 13 million deaths will be encountered by 2030. Additionally, favourable reimbursement policies and rising demands of minimally invasive therapeutic surgical procedures by the growing geriatric population is estimated to boost the market growth during the forecast period. According to a study published in the Permanente Journal in 2012, compression fractures affected a majority of individuals worldwide. Moreover, according to an estimate, every year, 1.5 million vertebral compression fractures occur in the U.S. affecting a majority of the geriatric population. However, the lack of skilled physician and high therapeutic surgery cost in the presence of complications is projected to restrain the market growth during the projected period. The average national cost of anterior cervical discectomy and fusion (ACDF) is estimated to be USD 14,000.
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The market for global spinal cord compression-spinal stenosis is expected to advance with a CAGR of 8.70% during the forecast period.
- Pharmaceutical Companies
- Biotechnological Institutes
- Government And Private Laboratories
- Research And Development (R&D) Companies
- Medical Research Laboratories
- Market Research and Consulting Service Providers
The global spinal cord compression- spinal stenosis market is segmented on the basis of the type, diagnosis, treatment type, and end user.
By the type, the market is segmented into lumbar spinal stenosis, cervical stenosis, central stenosis, and others. By the diagnosis, the market is categorized into physical examination, imaging, and others.The imaging segment is sub-segmented into magnetic resonance imaging (MRI), computed tomography (CT), X-ray, and others. By the treatment type, the market is segmented into surgical treatment, and non-surgical treatment. The surgical treatment market is segmented into foraminotomy, laminotomy, interspinous process spacer, microendoscopic decompression, and others. By end user, the market is segmented into hospitals, ambulatory surgical centers, rehabilitation centers, and others.
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Key players in the spinal cord compression- spinal stenosis market market
The key players for the global spinal cord compression- spinal stenosis market are Medtronic (U.S.), Johnson & Johnson Services Inc. (U.S.) , Stryker (U.S.), Zimmer Biomet (U.S.), NuVasive, Inc. (U.S.), Globus Medical Inc. (U.S.), Orthofix International NV (U.S.), MicroPort Scientific Corporation (China), K2M, Inc. (U.S.), Alphatec Spine, Inc. (U.S), and Paradigm Spine (U.S.). Vertos Medical Inc. (U.S.), Vertiflex Inc. (California), General Electric Company (U.S.), Hitachi, Ltd. (Japan), Koninklijke Philips N.V. (The Netherlands), Siemens Healthcare GmbH (Germany), Toshiba Medical Systems (Japan), Aurora Imaging Technology, Inc. (U.S.), Neusoft Corporation (China), and Neurologica Company Ltd. (London) are among others.
America dominates the global spinal cord compression- spinal stenosis market. Increasing prevalence of the spinal stenosis and presence of a well-developed healthcare sector are the factors driving the market growth within the region. Approximately, 1.5 million vertebral compression fractures occur every year in the U.S. affecting a majority of the geriatric population.
Europe is the second largest spinal cord compression- spinal stenosis market due to a growing geriatric population, a well-developed healthcare sector, and huge patient pool. According to a study published in the Deutsches Arzteblatt International Journal, in 2013, approximately 55,793 older people with spinal stenosis were treated as inpatients in German hospitals.
Asia Pacific is the fastest growing region for the market due to the presence of economies such as India, and China. Moreover, rising healthcare expenditure, huge patient population and growing geriatric population boost the market growth. According to a study published in the Asian Spine Journal in 2015, the incidence of foraminal stenosis was reported to be around 8% to 11%.
Middle East & Africa has the least share in the global spinal cord compression- spinal stenosis market due to the presence of poor economies, low per capita healthcare expenditure, stringent government policies, especially within Africa.
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