Market Size of Interspinous Spacers Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 5.40 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Interspinous Spacers Market Analysis
The Interspinous Spacers market is expected to register a CAGR of 5.4% over the forecast period.
The COVID-19 pandemic has had an adverse impact on the Interspinous Spacers market initially. The sudden outbreak of the contagious viral infection and the absence of any medication or vaccine led to a lockdown globally. The non-COVID treatment, such as surgical interventions and non-urgent medical treatment, was temporarily postponed or canceled. Also, the risk of the virus reduced the number of patients visiting the hospital for non-COVID issues. The interspinous spacers are used in spinal surgeries, which was also adversely impacted by the COVID-19 restrictions. According to a study published in the Journal of Orthopaedic Trauma in December 2021, there was a reduction of over 20% in acute spinal referrals from UK emergency departments during the COVID-19 lockdown initial phase. A study published in the Spine Journal in July 2021 stated that over one-third of elective spine, surgeries were canceled, as per their study, due to COVID-19.
However, in the post-pandemic with the lifting of the lockdown and the resumption of the non-COVID, non-urgent treatment, surgeries, and procedures, the interspinous space market is expected to regain its growth pace as it was in the pre-pandemic period. American Academy of Orthopaedic Surgeons in 2021 stated that the non-essential orthopedic surgeries which were postponed in the United States due to COVID-19 had been resumed across the country. Thus, the COVID-19 outbreak has adversely impacted the market's growth in its preliminary phase. Moreover, the market is expected to grow further at a stable pace with the resumption of elective spine surgeries and treatment, which would gradually increase the use of interspinous spacers globally.
Further, the interspinous spacer has a higher occurrence in the geriatric population. As the geriatric population is increasing globally, and there is an increasing demand for minimally invasive procedures for spinal stenosis that has helped in the growth of this market. According to the World Health Organization report (WHO) report in 2020, by 2030, 1 out of every six people on the planet will be 60 years old or older. The number of people aged 60 and up is expected to rise from 1 billion in 2020 to 1.4 billion by 2050. By 2050, the global population of people aged 60 and above will double to reach 2.1 billion. Between 2020 and 2050, the number of people aged 80 and above is expected to triple, reaching 426 million.
In addition, there are also increasing technological advancements seen in this field; therefore, the demand for interspinous spacers is increasing. However, compilations related to the interspinous spacer, especially in the older population, have been restraining the overall growth of the market. Therefore, owing to the aforementioned factors, the studied market is anticipated to witness growth over the analysis period. However, the complications associated with lumbar spinal fusion are likely to impede the market growth.
