Spinal Stenosis Implant Market 2022 analysis by Trends, Demand, Products and Technology Forecast to 2031

Spinal Stenosis Implant Market 2022

Spinal Stenosis Implant Market is expected to witness a strong In Upcoming Years. The ongoing trend speaks of digital transformation. In other words, it's about the provision of digital solutions being tabled all across. The big thing is that the key stakeholders can't afford to keep digital technology in a silo. Unification is the need of the hour so that anytime-anywhere access is possible. The enterprise is slated to move with the same mindset in the forecast period.

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The most common causes of spinal stenosis is "wear and tear" arthritis or Osteoarthritis of the discs between the vertebrae and spinal columns. Rising prevalence of osteoarthritis is expected to propel the growth of spinal stenosis implants market. According to World Health Organization, an estimated 10% to 15% of all adults aged over 60 suffer from a certain degree of OA, and the prevalence is higher among women than men. Across the EU member states, the prevalence of diagnosed OA varies from 2.8% in Romania to 18.3% in Hungary. Ageing population and growth in related lifestyle diseases such as obesity are the main factors contributing to the increasing prevalence of OA. Growth in the prevalence of OA is expected to drive the global spinal stenosis implants market in the forecast period.

Spinal Stenosis Implants Market: Key Dynamics

The rise in geriatric population is an influencing factor for the growth of spinal stenosis implants market. The geriatric population is more prone to osteoarthritis and other fall related injuries and spinal injuries. According to one of the NIH-funded Census Bureau reports in 2016, around 8.5% of the world population was aged 65 years and above, and by 2050, this percentage is expected to grow to around 17%. Apart from the rise in geriatric population, the prevalence of lifestyle related diseases such as obesity and type 2 diabetes, is increasing worldwide. Lack of physical activity and sedentary lifestyle are among the prime factors contributing to growth in the incidence of these diseases. Rise in geriatric population and other lifestyle-related diseases is also associated with different orthopedic disorders,which include OA and spinal stenosis is expected to positively impact the growth of the spinal stenosis implants market.

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Spinal injury is one of the causes of spinal stenosis. It is one of the major types of injuries among the population in North America. According to Spinal Cord, Inc., in 2015, 276,000 people suffer from spinal injury and on an average, 12,500 new people are suffering from spinal injury. Increasing number of trauma cases is also one of the prime factors responsible for the growth of the spinal stenosis implants market.

Spine surgery is a continuously evolving field, where the introduction of new technologies and research continues to expand the available treatment options. The introduction of motion-preserving devices is expected to drive the spinal stenosis implants market growth during the forecast period.

The spinal stenosis implants market has high growth potential in populated and growing economies such as China, India, Brazil, South Africa and others. These countries have higher rates of spinal injury due to the increasing number of road accidents, falls, violence, and similar other factors. These markets are highly lucrative for medical device companies owing to changes in disease patterns due to lifestyle changes, rising affluence, improved access to healthcare services, and rise in the demand for quality healthcare.

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Spinal Stenosis Implants Market: Companies

The report tracks some of the key companies operating in the spinal stenosis implants market, including Zimmer Biomet Holdings. Inc., Johnson and Johnson (DePuy Synthes), Stryker Corporation, Orthofix Holdings, Inc., NuVasive, Inc., RTI Surgical, Inc., Vertiflex, Inc, Premia Spine, Ltd. and Paradigm Spine, LLC.

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