Spinal Stenosis Devices Market Size Expected to Soar at a Steady CAGR of 2.71% by 2026, Estimates DelveInsight

LAS VEGAS, June 21, 2021 /PRNewswire/ -- DelveInsight's Spinal Stenosis Devices Market Insights provides the current and forecast market of the Spinal Stenosis and comprises of Spinal Stenosis Devices market trends and key players working in the space in the 7MM (the US, EU5 (the UK, Germany, Italy, France, and Spain) and Japan).

Key Highlights from the Spinal Stenosis Devices Market report:

• According to DelveInsight's estimates, in the 7MM, the diagnosed Spinal Stenosis prevalent population is observed to be the highest in EU5, comprising 41.2%, followed by the United States with a share of 30.7%.
• Boston Scientific, Medtronic, Stryker Corporation, Zimmer Biomet, Globus Medical Inc., Alpha Tech, Johnson and Johnson, Sintea Biotech, Surgalign, and Orthofix Medical Inc. are some of the Spinal Stenosis Device making companies that are available in the market. Most of these available devices are FDA, PMDA approved, and are CE marked.
• The competitive assessment of the Spinal Stenosis Devices market based on product type demonstrates that the market is dominated by stabilization systems with the largest share % followed by the interspinous spacers
• Based on approval is dominated by the devices that have received FDA and CE mark approval both, occupying a share of 46% followed by the medical devices that have received FDA approval only occupying a share of 45%.
• In March 2021, the TOPS system by Premia Spine received the Breakthrough Device Designation from the US FDA. The device is currently the subject of a pivotal clinical trial under an investigational device exemption from the FDA.
• On 2nd February 2021, Johnson & Johnson Medical Devices Companies had announced that DePuy Synthes had signed an agreement with Expanding Innovations Inc. to distribute the X-Pac Expandable Lumbar Cage System in the US. The X-Pac Cage augments DePuy Synthes' existing suite of products and provides a comprehensive procedural solution within the lumbar degenerative and minimally invasive spine segments.
• COVID-19 impact has led to a decline in the market of Spinal Stenosis. The market saw a gradual fall in the year-on-year growth as compared to previous years due to a decline in elective surgeries.

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Spinal Stenosis: Overview 

Spinal stenosis is a condition in which the gaps inside the spine narrow tend to put pressure on the nerves that run through it, being most common in the lower back and neck.

Spinal stenosis can also lead to pressure on the nerves that are traveling through the spine and tends to occur most commonly in the lower back area and the neck region. The types of spinal stenosis can be segmented on the basis of where the condition tends to occur. The two main types of Spinal Stenosis are Cervical Stenosis and Lumbar Stenosis.

Spinal Stenosis Devices Market Dynamics

The Spinal Stenosis Devices market size in the 7MM is anticipated to increase at a CAGR of 2.71%. The increase can be attributed to the rising cases of Spinal Stenosis among the growing geriatric population, along with the rising incidence of spinal injury and technological advancement in product development. Furthermore, a shoot-up in the number of product offerings and favorable reimbursement policies are also driving the Spinal Stenosis devices market in the right direction.

Discover more about changing market dynamics @ Spinal Stenosis Market Outlook and Forecast Analysis 

Spinal Stenosis Devices Market 

The Spinal Stenosis Devices Market is primarily driven by the rising cases of Spinal Stenosis in the growing geriatric population and also an increase in obese people who suffer from spine deformities. Furthermore, soaring cases of spinal injuries along with the growing adoption of minimally invasive spine surgery procedures and technological advancements in product development, have all contributed to the growing market of spinal stenosis in the coming years.

However, DelveInsight estimates that a high cost of treatment procedures and associated risk with its usage are going to hamper the growth of the Spinal Stenosis Market size growth globally. Moreover, due to the ongoing pandemic, a decline in elective surgeries has been seen lately. This factor may hinder the market of spinal stenosis devices in the future. 

Learn more about the guiding principles steering the growth of the Spinal Stenosis Devices Market

Key Competitors accelerating the growth of the Spinal Stenosis Devices Market

• Boston Scientific Corporation
• Stryker
• Medtronic
• Sintea Biotech
• Surgalign
• Spinal Simplicity LLC
• Zimmer Biomet
• Nuvasive Inc.
• Globus Medical Inc.
• Orthofix International NV
• Alphatec Spine Inc.
• Premia Spine
• Johnson & Johnson
• B. Braun Melsungen AG
• Neo-Medical SA
• Vertebral Technologies, Inc.

Know more about the key companies involved @ Spinal Stenosis Devices Market Key Companies

Table of Content

Know more about the report offerings @ Spinal Stenosis Devices Market insights, Key Companies, and Devices in the Pipeline 

Scope of the Report 

Coverage: 7MM

Study Period: 2018-26

Spinal Stenosis Devices Market Segmentation

• By Product Type-
• Interspinous Spacers
• Stabilization Systems
• Others
• By End-User
• Hospitals
• Ambulatory Surgical Centers
• Others

Spinal Stenosis Devices Key Companies: Boston Scientific Corporation, Stryker, Medtronic, Sintea Biotech, Surgalign, Spinal Simplicity LLC, Zimmer Biomet, Nuvasive Inc., Globus Medical Inc., Orthofix International NV, Alphatec Spine Inc., Premia Spine, Johnson & Johnson, B. Braun Melsungen AG,  Neo-Medical SA, Vertebral Technologies, Inc., and others. 

Spinal Stenosis Devices Market Report Features

The Spinal Stenosis Devices Market report provides valuable insight for clients venturing into Spinal Stenosis and acts as the source of guidance for taking strategic business decisions in the field of Spinal Stenosis by providing a descriptive overview of Spinal Stenosis, various applications of Spinal Stenosis, and their types including detailed chapters for marketed products and emerging therapies. Along with this, the report has a detailed review of the market containing historical and forecasted market size in 7MM, by understanding the trends shaping and driving the global Spinal Stenosis Devices Market.

The Spinal Stenosis Devices Market report has been prepared by DelveInsight's analysts after a thorough secondary and primary research into the Spinal Stenosis market. Analysis and estimations are done by taking into consideration the share of topmost companies and industry expert viewpoints of Spinal Stenosis of 7MM countries.

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SOURCE DelveInsight Business Research, LLP