Research Nester published a report titled “Interspinous Spacers Market: Global Demand Analysis Opportunity Outlook 2033” which delivers detailed overview of the global interspinous spacers market in terms of market segmentation by product, indication, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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The global interspinous spacers market is anticipated to grow with a CAGR of ~6.1% during the forecast period, i.e., 2023-2033. The market is segmented by end user into hospitals clinics, orthopedic clinics, and ambulatory surgical centers. Out of these, the hospitals clinics segment captured the largest market share with 53% in the year 2022. The increase in hospitalizations of patients with spinal disorders, as well as an increase in hospitals worldwide are expected to fuel segment growth during the forecast period.
The global interspinous spacers market is estimated to garner revenue of ~USD 137.7 Million by the end of 2033, up from revenue of USD ~USD 71.4 Million in the year 2022. The rising elderly population, growing prevalence of spinal disorders such as degenerative disk disease, rising medicare expenditure coupled with the growing number of disk replacement surgeries carried out in hospitals are some of the major factors anticipated to drive the growth of the market during the forecast period.
Geographically, the global interspinous spacers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East Africa region. Out of these, the market in North America held the largest market share by 25% in the year 2022 owing to the high expenditure on healthcare, a huge base of patient population, and favorable reimbursement policies. According to the Centers for Medicare Medicaid Services, healthcare expenditures in the United States reached USD 4.1 trillion in 2020, representing 19.7% of the country's gross domestic product
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Growing Number Of Geriatrics To Drive the Market Growth
According to the World Health Organization (WHO), there will be 2.1 billion people over 60 by 2050, which is an increase of 900 million from 2015.
The prevalence of low back pain and spinal disorders is higher among older adults over 60 than among younger adults. In patients over 65 years of age, lumbar spinal stenosis (LSS) is the most common reason for spine surgery. Consequently, the market growth for interspinous spacers is expected to be driven by the growing elderly population.
However, high treatment cost is expected to operate as key restraint to the growth of global interspinous spacers market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global interspinous spacers market which includes company profiling of Spine Wave, Inc., Boston Scientific Corporation, Globus Medical, Inc., Spinal Simplicity, Life Spine, Inc., NuVasive, Inc, Medtronic plc, Zimmer Biomet, Alphatec Holdings, Inc, Paradigm Spine LLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global interspinous spacers market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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