Interspinous Spacers Market Share

North American Market Forecast

The North America interspinous spacers market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037. The growth of the market can be attributed majorly to the increasing prevalence of spinal diseases and back pain along with increased healthcare spending on the treatment process. The healthcare spending of the United States reached USD 4.1 trillion in 2020, representing 19.7% of the country's GDP, according to the Centers for Medicare & Medicaid Services. Further, the presence of a strong healthcare network in the region, along with the availability of supportive policies by the regulatory bodies that promote the development of novel and technologically advanced interspinous spacers are also anticipated to contribute to the market growth in the region. In addition, the region's expanding healthcare industry and the presence of a high number of hospitals and clinics in the region are also anticipated to boost market growth during the forecast period. Moreover, the burgeoning geriatric population with lumbar spinal stenosis and degenerative disc disease along with rising accidents and incidents leading to disorders is also projected to fuel the market growth in the region.