The Global Spinal Cord Compression-Spinal Stenosis Market report explores he detailed worldwide overview of prominent key players listed as 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), and Paradigm Spine (U.S.). 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).

Global Spinal Cord Compression-Spinal Stenosis Market - Overview

The market for spinal cord compression-spinal stenosis is rising due to factors such as rise in the cases of arthritis, congenital spinal defects, instability of the spine, and slip-disc due to reasons such as spondylitis, trauma, and tumors. Moreover, the increasing demand for spinal consumables and instruments in various spinal and orthopedic hospitals and the rising rates of screening has upsurged the market growth. According to the U.S. Department of Health & Human Services, 23% of patients over 65 years of age in U.S. are suffering from low back pain.

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Minimally invasive spine surgery is new development in the field of spinal cord compresssion which reduces the stay of hospitals and pain associated with the surgical procedure due to lesser trauma. This treatment method is performed by making small incisions with the assistance of miniature surgical instruments and associated accessories. As the success of minimally invasive spine surgery is highly dependent on the skill of the surgeons, scarcity of skilled surgeons is acting as a restraint on the global spinal cord compression-spinal stenosis market.

The market for spinal cord compression by type is segmented into the lumbar spinal stenosis, cervical stenosis, central stenosis and others, in which the lumbar spinal stenosis market accounted for the largest market share in 2016 due to wrong postures and unhealthy eating habits. Cervical stenosis is the fastest growing segment and is projected to grow at a CAGR of 9.03% from 2017-2023.

Global Spinal Cord Compression-Spinal Stenosis Market - Competitive Analysis

Numerous players are operating in this market all over the globe. Many organizations, especially in North American, European and Asian region, have their manufacturing units, while some organizations outsource their facility of manufacturing to other organizations. As there are plenty of large and small market players available, it‘s very tricky to analyze their market shares. Some of the major players like Medtronic, Johnson & Johnson Services Inc., Stryker, NuVasive, Inc., Globus Medical Inc., and Zimmer Biomet, accounts for total 73.30% of the global market. Other market player’s accounts for 26.70% market share including Alphatec Spine, Inc., Paradigm Spine, Vertos Medical Inc., Vertiflex Inc., Microport, Orthofix International NV among others.

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Medtronic is the major player in the market with around 28% share in the global spinal cord compression market. The company is continuously creating leading-edge products in the field of medical technology -alleviating pain, restoring health and extending life for millions around the world. Johnson & Johnson Services Inc. is the second largest market shareholder (18%) in the spinal cord compression market and is growing at a very rapid pace. J&J has acquired DePuy Synthes a medical device company known for its advance patient care while delivering clinical and economic value to healthcare systems and helps providers address individual needs through a holistic approach has captured the second largest market share in the spinal stenosis market. Therefore, growing product launches for improved technology in the field of spinal stenosis and rise in research and development to provide higher-end products has created immense opportunities to increase their share in the market.

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