The spinal stenosis market is likely to secure a CAGR of 4% during the forecast period. The market is estimated to be valued at US$ 9.42 Bn in 2022 and likely to be valued at US$ 13.94 Bn by 2032.
| Attributes | Details |
|---|---|
| Spinal Stenosis Market CAGR (2022 to 2032) | 4% |
| Spinal Stenosis Market Value (2022) | US$ 9.42 Billion |
| Spinal Stenosis Market Value (2032) | US$ 13.94 Billion |
Spinal stenosis is narrowing of the spinal column and mainly occurs from a combination of aging and degenerative changes in the spine. This puts pressure on the spinal cord and the spinal nerve roots, and may cause pain, numbness, or weakness in the legs. Spinal stenosis mostly affects people above 60 years of age but can also occur in younger people born with the abnormal spinal canal.
Lumbar spinal stenosis, cervical spinal stenosis and thoracic spinal stenosis are the three main types of spinal stenosis. About 75% of the cases of spinal stenosis occurs in the lower lumbar region. The primary symptoms associated with spinal stenosis are radiculopathy and myelopathy.
Myelopathy is of greater concern as pressure on the spinal cord can lead to permanent spinal cord damage. Diagnosis of spinal stenosis involves the complete evaluation of spine. The most common diagnostic test for spinal stenosis are MRI scan and X-ray.
In some cases CT scan can be conducted in order to diagnose the condition. Spinal stenosis treatment can be conservative or surgical depending upon the severity of the disease.
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The spinal stenosis treatment is rising due to the growing aged population. Pressure on the spinal cord and pain occurring on the spinal cord nerve among the aged population is likely to increase the spinal stenosis market size during the forecast period. Moreover, degenerative changes in the spine and weakness in the legs are likely to increase the demand for spinal stenosis therapies in recent years.
Although, around 75% of cases are from lumbar spinal stenosis globally during the forecast period. Rising lower back pain and damage in muscles are likely to increase the lumbar spinal stenosis market share during the foreseen time. The rising prevalence of rheumatoid arthritis and osteoarthritis is likely to propel the global market growth during the forecast period.
On the other hand, the adoption of spinal stenosis treatment has been growing among the old age population suffering from radiculopathy and myelopathy in recent years. Among these, radiculopathy is a severe disease that damages the spinal root permanently. In addition, the patients suffering from this disease are likely to propel the adoption of spinal stenosis surgery to get a permanent solution during the forecast period.
Some surgical procedures, such as corpectomy foraminotomy and laminectomy, are some of the surgical procedures associated with spinal ailments, among others. Moreover, apart from surgical procedures, several medical prescriptions and spinal stenosis exercises that can cure the spinal stenosis disorder in earlier cases are likely to boost the demand for spinal stenosis. In addition, anti-inflammatory medications and epidural injections may relief spinal stenosis disorders in recent years, thus proving beneficial for market growth.
Based on region, North America dominates the global market for spinal stenosis by capturing the highest share during the foreseen time. Due to growing healthcare infrastructure, rising generic population, and herniated discs are rising the North American spinal stenosis market growth during the forecast period. The key manufacturers in the region are likely to surge the market size by developing spinal surgery devices for patients. In Dec 2021, US-based company Spine Wave launched its new products with the TI Cell 3D advanced technology named Stronghold C 3D Titanium and Cervical Plate.
Moreover, the availability of spinal stenosis specialists, growing awareness, and developing advanced technologies are accelerating the spinal stenosis market trends during the forecast period. On the other hand, key market players are adopting several marketing tactics to acquire the lion’s share in the market. Some of these strategies are mergers, partnerships, acquisitions, and product launches.
Increasing prevalence of degenerative spondylolisthesis and degenerative scoliosis among rapidly ageing population, rising number of obese population suffering from spine deformities, and rising demand for minimally invasive spine surgery procedures are the key factors fueling the growth of the global spinal stenosis market.
However, high cost of treatment procedure, stringent product approval process and unclear reimbursement policies are the prime factors expected to hamper the global spinal stenosis market growth.
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Numerous prescription medications are available to cure spinal stenosis. Epidural steroid injections and anti-inflammatory medications may be used to in case of acute spinal stenosis. Such nonsurgical treatments offer ways to control symptoms and enable you to improve without surgery.
Whereas patients with chronic spinal stenosis opt for surgical procedures such as laminectomy, corpectomy foraminotomy and others. Due to rapidly ageing population and increasing prevalence of osteoarthritis, rheumatoid arthritis and spondylolisthesisare expected fuel the market value of global Spinal Stenosis market over the forecasted period.
Geographically, North America is expected to dominate the global spinal stenosis market followed by Europe owing to increase in number of aging population. This increase in the base of geriatric population is expected to result in rising prevalence of spinal disorders such as herniated discs and osteoarthritis.
In addition, ready availability of skilled healthcare professionals would significantly lead to increase in number of surgical procedures thereby driver the growth of spinal stenosis market during the forecast period. However, lack of adequate physician and patient awareness/education about newly developed treatment procedures and technologies and high pricing pressure on market players are other factors hampering market growth.
Asia-Pacific is expected to exhibit strongest growth dynamics in spinal stenosis market due to rising economic affluence in various parts of this region.
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Key companies operational in global spinal stenosis market are Medtronic Inc., DePuy Synthes, Stryker Corporation, Orthofix International N.V., NuVasive, Inc., Zimmer Biomet Holdings, Inc., Globus Medical, Inc., Alphatec Holdings, Inc., K2M Group Holdings, Inc., and LDR Holding Corporation
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global spinal stenosis market is segmented based on product type, treatment type end user and region.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Product Type 6.2. Treatment Type 6.3. End User Type 7. Global Market Analysis and Forecast, By Product Type 7.1. Thoracic Fusion and Lumbar Fusion Devices 7.2. Anterior Thoracic and Lumbar Fusion Devices 7.3. Posterior Thoracic and Lumbar Fusion Devices 7.4. Interbody Thoracic and Lumbar Fusion Devices 7.5. Cervical Fusion Devices 7.6. Anterior Cervical Fusion Devices 7.7. Posterior Cervical Fusion Devices 8. Global Market Analysis and Forecast, By Treatment Type 8.1. Surgical Treatment 8.2. Discectomy 8.3. Laminectomy 8.4. Foraminotomy 8.5. Facetectomy 8.6. Corpectomy 8.7. Non-Surgical Treatment 9. Global Market Analysis and Forecast, By End User Type 9.1. Hospitals 9.2. Ambulatory Surgical Centers 9.3. Rehabilitation Centers 10. Global Market Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Eastern Europe 10.4. Western Europe 10.5. Asia Pacific Excluding Japan (APEJ) 10.6. Japan 10.7. The Middle East and Africa (MEA) 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 14. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 15. Asia Pacific Excluding Japan (APEJ) Sales Analysis and Forecast, by Key Segments and Countries 16. Japan Sales Analysis and Forecast, by Key Segments and Countries 17. The Middle East and Africa (MEA) Sales Analysis and Forecast, by Key Segments and Countries 18. Sales Forecast by Product Type, Treatment Type, and End User Type for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. Medtronic Inc. 20.2. DePuy Synthes 20.3. Stryker Corporation 20.4. Orthofix International N.V. 20.5. NuVasive, Inc. 20.6. Zimmer Biomet Holdings, Inc. 20.7. Globus Medical, Inc. 20.8. Alphatec Holdings, Inc. 20.9. K2M Group Holdings, Inc. 20.10. LDR Holding Corporation
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Spinal Stenosis Market
