SEATTLE, July 29, 2021, (MEDGADGET) — Global Interspinous Process Decompression Devices Market Analysis
Overview
Medical implants known as interspinous process decompression devices or interspinous spacers are used to treat spinal stenosis. The purpose of these devices is to relieve back pain by repositioning the vertebrae using interventional procedures. Intervertebral cell dilatation tools are a form of dynamic stabilization device used in non-fusion spinal surgery that is meant to be securely implanted between two interspinous processes in the lower spine without bolts or metal being attached to the bone or ligaments.
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Interspinous process decompression is preferred over traditional spinal surgeries such as laminectomy due to the greater incidence of degenerative spinal abnormalities due to an aging population and its benefits such as movement preservation, less internal bleeding, reduced infection risk, and outpatient surgical facility. X-STOP, DIAM (Device for Intervertebral Assisted Motion), Coflex, and Wallis are some of the most prominent interspinous process decompression devices on the market. New product introductions, rising prevalence of spinal illnesses, and a growing pool of senior population are all driving the global interspinous process decompression devices market forward.
Drivers
Minimally invasive surgical treatments have gained popularity in recent years, leading to the creation of a variety of interspinous process decompression devices. New product releases by industry players are projected to fuel the global interspinous process decompression devices market. The U.S. Food and Drug Administration (FDA) granted Vertiflex, Inc., a pioneer in minimally invasive spinal stenosis treatment, a Premarket Approval Application (PMA) order in 2015 for their product, Superion, which is approved for mild lumbar spinal stenosis. In the category of interspinous spacers, the Superion is the least intrusive motion-preserving device. The implant was put successfully in 2,000 patients throughout the world as part of research in 2015, and it is likely to be accessible in the US market over the forecast period.
Extech also released Octane Elevate in 2014, a novel lumbar spacer that restores disc height while also treating anatomical issues. The FDA approved Paradigm Spine’s Coflex Interlaminar Technology implant for one- or two-level lumbar stenosis from L1 to L5 causing at least moderate disability in skeletally mature patients through the premarket approval process in 2012. NL-Prow (by Non-Linear Technologies), Aperius, and Falena devices are also a risk, according to Permera Blue Cross, a US-based medical insurance firm.
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The global interspinous process decompression devices market is projected to develop as the number of spinal injuries rises. The global incidence of spinal cord injury was projected to be 170,312 cases in 2007, as per the National Center for Biotechnology Information (NCBI), and grew to 250,000 to 500,000 cases in 2013. In addition, reimbursement regulations are projected to boost the growth of the global interspinous process decompression devices market. In 2016, the International Society for the Advancement of Spine Surgery (ISASS) issued decompression with interlaminar stabilization recommendations and coverage criteria. However, the lack of a nationwide coverage determination gives local Medicare carriers policy latitude.
Restraints
The global interspinous process decompression devices market is projected to be hindered by a small number of manufacturers and a strict regulatory environment for implanted devices. Furthermore, the market is projected to be hampered by the high cost of spinal surgical operations and the need for properly qualified surgeons.
Regional Insights
Due to the growing acceptance rate of new technologies, the North American interspinous process decompression device market has a prominent position. Furthermore, due to expanding medical facilities and a growing geriatric population, Asia Pacific is predicted to rise rapidly throughout the forecast period. As per the Economic and Social Commission for Asia and the Pacific, the number of individuals aged 60 and more is expected to rise by 66% across Asia between 2015 and 2030.
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Competitive Landscape
Vertiflex, Paradigm Spine, Abbott Spine, and Medtronic Plc., are among the leading firms employing unique inorganic tactics in order to achieve maximum market share and enhance market position. Vertiflex, Inc., presented two substantial reimbursement milestones in 2015 to expand their Superion possibility. The reimbursement involves the conversion of a Category III code to a Category I code, removing the long-standing confusion about coverage and payment under Category III. Furthermore, at Ambulatory Surgical Centers, Superion-based minimally invasive procedures will provide Medicare members with more access. Both reimbursement methods are projected to boost the Supermarket’s market share.
Table of Content
Global Interspinous Process Decompression Devices Market Research Report
Section 1: Global Interspinous Process Decompression Devices Industry Overview
Section 2: Global Economic Impact on Interspinous Process Decompression Devices Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Interspinous Process Decompression Devices Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Interspinous Process Decompression Devices Market Forecast
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