Spinal Stenosis Market Set to Garner Staggering Revenues by 2026

Spinal stenosis is characterized by narrowing of the spaces within the spine which creates a pressure on the nerves travelling through the spine. It frequently occurs in the lower back and the neck. Lumbar and cervical stenosis are the two types of spinal stenosis and have various causes such as thickened ligaments and overgrowth of bone. The condition can be diagnosed by imaging tests such as X-ray and magnetic resonance imaging (MRI). It can be treated using medications, physical therapy, and surgical treatment such as laminectomy.

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Increase in the obese population suffering from spine deformities and rise in prevalence of spinal disorders such as degenerative scoliosis and degenerative spondylolisthesis among the geriatric population are projected to fuel the growth of the global spinal stenosis market during the forecast period. Furthermore, rise in popularity and adoption of minimally invasive spine surgery procedures and increase in the number of product offerings for the treatment of spinal stenosis are the other factors anticipated to propel the market.

The global spinal stenosis market can be segmented based on product, surgery type, end-user and region. In terms of product, the market can be bifurcated into thoracic fusion & lumbar fusion devices and cervical fusion devices. The thoracic fusion & lumbar fusion devices segment is projected to account for the largest market share during the forecast period due to rise in prevalence of lumber stenosis, increase in demand for lumber spinal fusion devices, and surge in the number of companies offering devices for the treatment of lumber spinal fusion. Based on surgery type, the global spinal stenosis market can be divided into laminectomy, discectomy, foraminotomy, facetectomy and minimally invasive surgery. The laminectomy segment is anticipated to account for the largest market share from 2018 to 2026 due to increase in the number of laminectomy procedures for spinal stenosis in hospitals and ambulatory surgical centers. In terms of end-user, the market can be categorized into hospitals, ambulatory surgical centers, and others. The hospitals segment is expected to capture the largest market share owing to increase in awareness among health care providers about surgical treatments such as minimally invasive surgery.
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The global spinal stenosis market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is likely to account for the largest market share during the forecast period due to high prevalence of spinal stenosis & related disorders and availability of surgical treatment options. In the U.S., nearly 1.5 million vertebral compression fractures occur every year, affecting a majority of the geriatric population. The market in Europe is anticipated to grow at a rapid pace due to increase in awareness about the cause and treatment methods available for spinal stenosis and steady rise in the number of spinal stenosis cases.

According to the Deutsches Arzteblatt International Journal, nearly 55,793 elderly people with spinal stenosis received treatment in hospitals in Germany in 2013. The market in Asia Pacific is projected to grow at a rapid pace, driven by rise in geriatric population, increase in the number of hospitals offering surgical treatment for spinal stenosis, and surge in health care expenditure. Increase in the number of spine surgeons, primary care providers (PCP), physiotherapists, and physical medicine & rehabilitation physicians is also expected to fuel the growth of the market in the region. Over 1 million cases of spinal stenosis are reported in India each year. The market in Middle East & Africa is likely to be driven by availability of specialty spine care centers and potential growth of the medical devices industry.

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