Interspinous Spacers Market Trends

Growth Drivers

• Increasing Base of Geriatric Population - Older adults over 60 suffer from low back pain and spinal disorders more frequently than other health conditions. Most spine surgeries are performed for lumbar spinal stenosis (LSS) among patients over 65 years old. Thus, the growing elderly people population is anticipated to drive global interspinous spacers market growth over the forecast period. The World Health Organization (WHO) forecasts that 2.1 billion people will be over 60 years old by 2050 in the world, an increase of 900 million from 2015. 

• Rising Incidence of Degenerative Disk Disease Worldwide –Owing to the adoption of unhealthy lifestyles and a surge in cases of incidents, traumas, and accidents, the cases of degenerative disk diseases have also soared. As a result, the demand for interspinous spacers is expected to rise as it is widely used in the treatment process of these diseases. It was observed from a recent report of 2020 that around 40% of adults in the world age 40 or above are diagnosed with at least one degenerated vertebral disc. This percentage increases to 90% with people of age 60 and above.
• Growing Success Rate of Disk Replacement Surgery - The results of a recent study have shown that artificial disc replacement surgery has a success rate of 87% globally. 
• High Expenditure on Research and Development Activities – The recent focus of the government to develop novel interspinous spacers to treat spinal disorders and disk diseases is expected to create a positive outlook for market expansion in the future. As of 2020, the World Bank calculated the global research and development expenditure to represent 2.63% of GDP, up from 2.2% in 2018.
• Innovative Product Development by Manufacturers - Major key players working in the market is an investment in the R&D sector to develop technologically advanced interspinous spacers which in turn is expected to rise the sales of interspinous spacers in the healthcare sector.   In April 2022, Spinal Simplicity launched the Minuteman G5 implant, long-awaited by the medical device community. In the thoracic, lumbar, and sacral spines, the Minuteman device is designed to fixate and stabilize the spine with minimally invasive surgery. 

Challenges

• High Cost of Implant Surgery – In developing nations, the cost of implant surgery is too much high. As a result, the population with middle income is expected to be reluctant to adopt interspinous spacers owing to the unavailability of funds. This trend is expected to lower the growth rate of the market.

• Complications Associated with The Surgery

• Increased Risk of Reoperation After Interspinous Spacer Placement