Interlaminar Device Market to witness a growth 5.4% during the year 2022-2031
According to the latest research by Future Market Insights, interlaminar device market is set to witness a growth 5.4% during the year 2021-2031. Interlaminar device normally relates to the disease defined by the compression of nerve roots and shrinking of the spinal canal due to many pathologic causes, further leads to symptoms such as pain with a tingling feeling, numbness, and weakness. Spinal stenosis can include the cervical, lumbar, or thoracic (rarely) spine.
What is Driving Demand for Interlaminar Device?
The growth for interlaminar device is driven by various factors including advancements in spine surgery technologies, increasing incidence of spinal disorders, the launch of advanced bone grafting products, and the increasing adoption of minimally invasive spine surgeries.
Furthermore, key players across the globe focus on advancements in terms of technology to improve the interlaminar device efficacy and expanding their application in the market and assist with inventive growth opportunities. Furthermore, introducing unique product in the market allows businesses to acquire a competitive edge and increase product adoption.
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Which factors are likely to Augment Growth of Interlaminar Device Market?
The growth of interlaminar device is likely to be boosted by technological factors which benefits include a shorter hospital stay and recovery time, faster and longer-lasting relief from discomfort, better treatment adaptability, and adjacent layers are naturally moving.
For instance, in May 2018 Paradigm Spine disposable instrument kit coflex® Interlaminar stabilization gets FDA pre-market approval. Coflex® interlaminar stabilization is an exclusive posterior lumbar motion preservation solution which offers long-term outcomes for patients with moderate to severe spinal stenosis.U.S. and Canada Interlaminar Device Market Outlook
The region of North America accounts for highest market share in the current scenario for interlaminar device. The increasing adoption and penetration of interlaminar device into US and Canada market is mainly due to a rise in the number patients with spinal cord injury, better healthcare facilities, and organizations like the North American Spine Foundation all working to raise awareness and educate healthcare providers and public about different medical condition.
As per data published by National Spinal Cord Injury Statistical Center, in 2017, approximately 285,000 people in the U.S. are estimated to be suffering from spinal cord injuries.
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Europe Demand Outlook for Interlaminar Device
The European region is set to witness a dominant demand for interlaminar device due to the improving healthcare infrastructure, rising awareness, improving reimbursement scenario, and the growing insurance coverage are the major key factor to boost the growth in European region.
Some other factors are rising treatment rates for degenerative spine diseases, rising geriatric population, medical technological advances, and a growth in the demand for minimally invasive treatments are all contributing factors to this trend in Europe.
Who are the Key Manufacturers and Suppliers of Interlaminar Device?
The key companies operating in manufacturing and supply of interlaminar device market include
- Life Spine
- Lanx acquired by BioMet
- Pioneer Surgical
- Paradigm Spine
- Spine Frontier
- Amedica Corp.
- Camber Spine Technologies
- DePuy Synthes
- Mazor Robotics
- Meditech Spine.
The key players adopt growth strategies for product portfolio expansion by designing novel interlaminar device. The companies also have extensive distribution systems for effective sales revenue generation.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Interlaminar Device Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.