Spinal Laminoplasty Market to Reach US$ 7.70 Billion, at a Revenue CAGR of 4.01%, During the Forecast Period 2023 to 2031, Growth Plus Reports Study

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Newark, New Castle, USA, April 23, 2023 (GLOBE NEWSWIRE) — As per the report by Growth Plus Reports, the global Spinal Laminoplasty Market was valued at US$ 5.20 billion in 2022 and is expected to reach US$ 7.70 billion, registering a revenue CAGR of 4.01% by 2031.

The spinal laminoplasty market was assessed and is expected to continue to expand with a sizable revenue share during the forecast period. Laminoplasty provides spinal cord decompression by extending the spinal canal while preventing post-operative instability and scar in-growth with possible neurological damage.

Recent Development in Spinal Laminoplasty Market: 

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  • In March 2022, Medtronic acquired Stimgenics, LLC, an Illinois-based firm that pioneered the Differential Target Multiplexed (DTM) Spinal Cord Stimulation waveform. This transaction was meant to help Medtronic improve customer satisfaction.

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                                      Spinal Laminoplasty Market Scope

Report Attribute Details
Market size value in 2022 US$ 5.20 billion
Revenue forecast in 2031 US$ 7.70 billion
Growth Rate CAGR of 4.01% from 2023 to 2031
Base Year for Estimation 2022
Forecast Period 2023-2031
Historical Year 2021
Segments Covered Technology, Vertebral Position, Surgery Type, and Region
Regional Scope North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

Key Takeaways: 

  • The rising global demand for minimally invasive treatments is driving market revenue growth.
  • During the forecast period, innovations to existing spinal laminoplasty treatments are expected to boost the demand.
  • The spinal laminoplasty market is expected to be propelled by government efforts and measures promoting the advantages of the procedure.

Market Drivers and Restraints: 

The global spinal laminoplasty market revenue is driven by the growing prevalence of spinal disorders. Moreover, growing technological advancement in spine surgery coupled with the rising adoption of minimally invasive spine surgeries and the rising geriatric population is propelling the overall market revenue growth. 

However, the high cost and unavailability of insurance coverage may limit market revenue growth. 

Market Segmentation: 

Segmentation By Technology

Based on technology, the global spinal laminoplasty market is segmented into spine fusion, spine biologics, decompression, motion preservation, and others. The spine fusion segment accounts for the largest market revenue share due to the latest technologies widely adopted by surgeons. 

Segmentation By Vertebral Position

Based on vertebral position, the global spinal laminoplasty market is segmented into cervical laminoplasty, thoracic laminoplasty, lumbar laminoplasty, and sacral laminoplasty. The cervical laminoplasty segment accounts for the largest market revenue share due to effective treatment options making it a popular choice for patients and physicians to treat severe conditions such as cervical myelopathy. 

Segmentation By Surgery Type

Based on the surgery type, the global spinal laminoplasty market is segmented into minimally invasive and open surgery. The open surgery segment accounts for the largest revenue share in the global market. This segment has an established methodology to track the record of efficacy and safety, giving it an advantage over newer, less established procedures and contributing to the large revenue of this segment. 

Regional Growth Dynamics

Based on the region, the global spinal laminoplasty market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America accounts for the largest revenue share in the global market due to the increasing demand for spinal laminoplasty procedures and encouraging patients to opt for these procedures.

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Competitive Landscape

A list of the market player operating in the global spinal laminoplasty market are: 

  • NuVasive Inc.
  • Zimmer Spine
  • DePuy Synthes
  • NP Solutions
  • Pioneer Surgical Technologies

Report Coverage 

The study examines the fundamental market characteristics, important investment areas, analytics of regional growth, revenue prediction, prominent market players, and partnerships. The report also thoroughly analyzes the spinal laminoplasty market globally.

Table of Content

  1. INTRODUCTION
    1. Market Ecosystem 
    2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
    3. Currency Used in the Report
  2. RESEARCH METHODOLOGY 
    1. Research Approach
    2. Data Collection Methodology
    3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
    4. Market Estimation Approach
      1. Bottom Up 
      2. Top Down 
    5. Market Forecasting Model
    6. Limitations and Assumptions       
  3. PREMIUM INSIGHTS
    1. Current Market Trends (COVID-19 Perspective)
    2. Key Players & Competitive Positioning (2022)
    3. Regulatory Landscape
  4. MARKET DYNAMICS
    1. Drivers
    2. Restraints
    3. Opportunities
  5. GLOBAL SPINAL LAMINOPLASTY MARKET- ANALYSIS & FORECAST, BY TECHNOLOGY
    1. Spine Fusion
    2. Spine Biologics
    3. Decompression
    4. Motion Preservation
    5. Others
  6. GLOBAL SPINAL LAMINOPLASTY MARKET- ANALYSIS & FORECAST, BY VERTEBRAL POSITION
    1. Cervical Laminoplasty
    2. Thoracic Laminoplasty
    3. Lumbar Laminoplasty
    4. Sacral Laminoplasty
  7. GLOBAL SPINAL LAMINOPLASTY MARKET- ANALYSIS & FORECAST, BY SURGERY TYPE
    1.  Minimally Invasive Surgery
    2. Open Surgery

SPINAL LAMINOPLASTY MARKET TOC

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