Spinal Laminoplasty Market Witness High Growth Owing to Increasing Incidences of Spinal Cord Injuries

 


Spinal laminoplasty is a surgical procedure performed to treat spinal stenosis and avoid complications from slipped or herniated discs in the neck. It involves opening up the spinal canal to avoid nerve root compression without removing posterior elements or muscles from the spine. Spinal laminoplasty is one of the most commonly performed surgeries to treat cervical spinal stenosis. Increased adoption of minimally invasive surgeries, rising geriatric population suffering from spinal disorders, and growing incidence of spinal cord injuries are some of the key factors fueling the demand for spinal laminoplasty procedures.

The global spinal laminoplasty market is estimated to be valued at US$ 5.75 billion in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period from 2024 to 2031.

Key Takeaways
Key players operating in the global spinal laminoplasty market are DePuy Synthes, Zimmer Spine, Medtronic, Raymedica, Replication Medical, Vertebral Technologies, NP Solutions, Arthro Kinetics, Pioneer Surgical Technologies, Cryo Life, and Synthes Spine. These players are focusing on new product development and launches to expand their product portfolio. For instance, in January 2021, NuVasive launched the Modulus TLIF-A expandable lumbar interbody device to provide surgeons flexible solutions for TLIF procedures.
Key opportunities in the market include increasing penetration in emerging economies and growing awareness about minimally invasive spine surgeries. The global expansion has been observed with companies strategizing acquisitions and partnerships to expand their geographic footprint. For example, in August 2021, Medtronic acquired Digital Surgery to integrate digital surgery capabilities across Medtronic's portfolio.

Market Drivers
• Increasing incidences of spinal cord injuries owing to road accidents and falls is a major driver as spinal laminoplasty is an effective surgical procedure for cervical spondylotic myelopathy caused by injuries.
• Growing geriatric population prone to spinal disorders also contributes to the growth of the market. According to the UN, the number of people aged 60 or over is expected to grow from 900 million globally in 2015 to nearly 2.1 billion in 2050.

Market Restraints
• High costs associated with spine surgeries limit access and adoption rates globally. The average costs of a spinal laminoplasty surgery in the US ranges between US$ 15,000 to 30,000.
• Lack of skilled orthopedic surgeons impacts the market growth of spinal laminoplasty negatively. Extensive training is required to perform complex spine surgeries such as laminoplasty.

Segment Analysis
The global spinal laminoplasty market growth is dominated by the anterior laminectomy segment due to increasing preference for anterior laminectomy spinal decompressive surgery among spinal surgeons and neurosurgeons. Anterior laminectomy offers minimal tissue dissection, direct decompression of the spinal canal and nerve roots and prevents post-operative axial pain which often occurs in laminectomy or laminectomy plus fusion surgery. Therefore, anterior laminectomy is considered as one of the most viable surgical options by healthcare professionals for treating cervical myelopathy while attempting to retain cervical motion.

Global Analysis
Regionally, North America dominates the global spinal laminoplasty market in terms of revenue. This is due to factors such as the rising prevalence of spinal stenosis, increase in elderly population, favorable reimbursement policies, availability of advanced healthcare facilities and growing adoption of minimally invasive spinal decompression procedures. Asia Pacific is expected to be the fastest growing market for spinal laminoplasty globally between 2024-2030. This is due to improving accessibility to advanced surgical treatments, increasing private and public healthcare expenditure on spinal disorders and rising medical tourism in Asia Pacific countries.

Get more insights on this topic: https://www.ukwebwire.com/global-spinal-laminoplasty-market-share-and-opportunity-analysis/

 

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