Spinal Cord Compression Market: Historical, Current and Projected Market Size, Competitive landscape & Forecast 2023

Regional Analysis

America dominates the global Spinal Cord Compression Market due to increasing prevalence of the spinal stenosis, presence of a well-developed healthcare sector and growing geriatric population are the factors driving the market growth within the region. Europe holds the second largest spinal cord compression- spinal stenosis market. Growing geriatric population, a well-developed healthcare sector, huge patient pool, and government support for the research and development are the major drivers within the region. On regional basis Europe is divided into Western Europe and Eastern Europe. Western Europe leads the market growth due to the presence of developed economies like U.K, France, Germany, and others within the region. On the other hand, Eastern Europe is estimated to be the fastest growing region. Asia Pacific is the fastest growing region for the market. Presence of developing economies, rising healthcare expenditure and growing geriatric population drives the market growth within the region. Middle East & Africa has the least share in the global spinal cord compression-spinal stenosis market. This can be attributed due to the presence of poor economies, low per capita healthcare expenditure, stringent government policies, especially within the African region.

 

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Market Highlights

Increasing prevalence of spinal stenosis, favorable reimbursement policies, rising demands for minimally invasive therapeutic surgical procedures, and growing geriatric population is estimated to drive the market growth during the forecast period. However, lack of skilled physician, high therapeutic surgery cost and surgery-related complications are estimated to restrain the market growth during the projected period.

Segmentation

The global spinal cord compression- spinal stenosis market is segmented by type, diagnosis, treatment type, and end user.

By type, the market is segmented into lumbar spinal stenosis, cervical stenosis, central stenosis, and others. By diagnosis, the market is categorized into physical examination, imaging, and others. The imaging segment is sub-segmented into magnetic resonance imaging (MRI), computed tomography (CT), X-ray, and others. By treatment type, the market is segmented into surgical treatment, and non-surgical treatment. The surgical treatment market is segmented into foraminotomy, laminotomy, interspinous process spacer, microendoscopic decompression, and others. By end user, the market is segmented into hospitals, ambulatory surgical centers, rehabilitation centers, and others.

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Key Players

The key players in the global spinal cord compression- spinal stenosis market are Medtronic (U.S.), Johnson & Johnson Services Inc. (U.S.) , Stryker (U.S.), Zimmer Biomet (U.S.), NuVasive, Inc. (U.S.), Globus Medical Inc. (U.S.), Orthofix International NV (U.S.), MicroPort Scientific Corporation (China), K2M, Inc. (U.S.), Alphatec Spine, Inc. (U.S), Paradigm Spine (U.S.), and Vertos Medical Inc. (U.S.). Vertiflex Inc. (California), General Electric Company (U.S.), Hitachi, Ltd. (Japan), Koninklijke Philips N.V. (The Netherlands), Siemens Healthcare GmbH (Germany), Toshiba Medical Systems (Japan), Aurora Imaging Technology, Inc. (U.S.), Neusoft Corporation (China), and Neurologica Company Ltd. (London) are among others.