The European interspinous process decompression (IPD) market is forecast to witness a compound annual growth rate (CAGR) of 6.3%, from $19.7m in 2016 to $30.3m by 2023, according to a report by GlobalData.
Titled ‘MediPoint: Interspinous Process Decompression Devices – Europe Analysis and Market Forecasts’, the report covers 21 countries.
Increase in prevalence of degenerative spinal conditions in ageing populations, and preference of IPDs over traditional spinal fusion and laminectomy procedures have been identified as the key growth drivers.
IPD is gaining popularity in the outpatient setting as it is a minimally invasive procedure and enables motion preservation, explains GlobalData healthcare analyst Jennifer Ryan.
The IPD devices market is fairly consolidated, including both orthopaedic and spine conglomerates and small players who specialise in spinal non-fusion devices. Medtronic and Paradigm Spine are the major players in the market, with their X-STOP and Coflex implants respectively.
Despite the advantages offered by IPDs, long-term clinical data on their efficacy is limited. Device failures, high prices and poor effectiveness have limited their adoption by physicians.
Access to the technology is also limited, as patients in developed nations are not reimbursed for the use of such investigational devices, while patients in developing economies have to make out-of-pocket payments.
The report forecasts that the sub-optimal results and high costs of IPD devices such as X-STOP and the Coflex provides opportunities for the development of new devices. Clinical trials for proving the efficacy of IPD devices will be needed to ensure future IPD adoption and reimbursement, the report adds.