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The global minimally invasive spine surgery market size is estimated to grow by USD 1.82 billion at a CAGR of 9.27% between 2023 and 2028.
The increasing incidence of spinal disorders, such as degenerative disc disease, spinal stenosis, and herniated discs, has significantly influenced the minimally invasive spine surgery market. These conditions contribute to the rising demand for advanced surgical technologies and equipment designed to address the specific challenges presented by minimally invasive spine surgery. Minimally invasive spine surgery, equipped with advanced visualization and navigation capabilities is essential for effectively addressing spinal stenosis, allowing surgeons to perform delicate decompressive procedures while minimizing trauma to surrounding tissues. Moreover, the ability to perform these procedures using minimally invasive techniques is crucial for reducing patient recovery times and minimizing postoperative complications. Thus, the increasing incidence of spinal disorders is expected to drive the market growth during the forecast period.
Technavio has segmented the market into Application, End-user and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.
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The market share growth by the fusion surgery segment will be significant during the forecast period. The fusion surgery segment plays a pivotal role in the global minimally invasive spine surgery market, representing a significant area of focus and innovation within the realm of spinal interventions. Fusion surgeries are commonly employed to address various spinal pathologies, such as degenerative disc disease, spinal stenosis, and spondylolisthesis, aiming to restore stability, alleviate pain, and facilitate the fusion of affected spinal segments.
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The future surgery segment was the largest and was valued at USD 1.46 billion in 2018. Furthermore, the evolution of minimally invasive spine surgery tailored for fusion procedures encompasses advancements in instrumentation and navigation, enabling surgeons to overcome anatomical complexities and execute fusion surgeries with heightened efficiency. Specialized retractors, endoscopic visualization systems, and minimally invasive access devices seamlessly integrate with advanced spine surgery machines, supporting the intricacies of fusion surgeries while minimizing tissue disruption and expediting patient recovery. Thus, such advantages are expected to increase the adoption of fusion surgery, which will propel the growth of the fusion surgery segment in the minimally invasive spine surgery market during the forecast period.
The hospital and clinics segment represents a critical and dynamic component of the global minimally invasive spine surgery market, encompassing the utilization of advanced surgical technologies in healthcare facilities to cater to the evolving needs of patients with spinal pathologies. Moreover, the hospital and clinics segment serves as a nucleus for the development of specialized training programs tailored to equip surgical teams with the proficiency to undertake advanced spine surgery machines effectively. These educational initiatives are integral to ensuring that healthcare professionals are adept at harnessing the full potential of these technologies, thereby driving the seamless integration of minimally invasive spine surgery into clinical practice. Thus, the above-mentioned advantages will increase the adoption of minimally invasive spine surgery in hospitals and clinics, which will propel the growth of the hospital and clinics segment in the market during the forecast period.
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North America is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. North America holds a significant position in the global minimally invasive spine surgery market, characterized by the widespread adoption of advanced surgical technologies and a robust healthcare infrastructure conducive to the implementation of innovative spinal interventions. The region's pivotal role in driving the demand for minimally invasive spine surgery is underscored by a multitude of factors, such as the increasing prevalence of spinal disorders, a growing emphasis on patient-centric care, and the rapid integration of cutting-edge surgical techniques into clinical practice.
For instance, according to the National Spinal Cord Injury Statistical Center (NSCISC), the average annual incidence of traumatic spinal cord injury (tSCI) is around 54 instances per million persons, reflecting approximately 18,000 new tSCI cases each year in the US. Spinal cord injury increases the likelihood of damage to the fragile neural tissue, resulting in neurological abnormalities and functional impairments, necessitating minimally invasive spine surgical approaches to minimize tissue stress and disturbance in the US. Thus, such factors are expected to increase the opportunity for minimally invasive spine surgery, which will drive the growth of the regional market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Accelus - The company offers minimally invasive spine surgery solutions.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the trends, and challenges.
Integration of artificial intelligence (AI) and robotics in surgical planning and execution in minimally invasive spine surgery is an emerging trend shaping the market growth. The integration of AI and robotics in surgical planning and execution has ushered in a new era of precision and efficiency in minimally invasive spine surgery, significantly impacting the market. These advancements have revolutionized the way spinal procedures are performed, offering enhanced surgical guidance, real-time feedback, and unparalleled levels of accuracy to improve patient outcomes. The incorporation of AI and robotics in minimally invasive spine surgery offers unparalleled benefits, including advanced preoperative imaging analysis, intraoperative navigation, and robotic-assisted precision.
Furthermore, the integration of robotics in minimally invasive spine surgery has expanded the capabilities of surgical teams, enhancing dexterity, stability, and fine motor control during intricate procedures. Robotic-assisted systems, guided by AI algorithms, enable surgeons to execute precise, minimally invasive maneuvers, which were previously unattainable with traditional techniques, thereby benefiting patients by reducing surgical trauma and expediting their postoperative rehabilitation. Thus, such factors are expected to increase the adoption of minimally invasive spine surgery, which will drive the growth of the market during the forecast period.
The high cost of minimally invasive spine surgery is a significant challenge hindering market growth. The high cost of minimally invasive spine surgery has indeed exerted a notable impact on the global minimally invasive spine surgery market. This cost factor encompasses various aspects, such as initial investment in specialized equipment, ongoing maintenance, and the required training for surgical teams. For instance, the cost of minimally invasive spine surgery varies widely depending on the location and specifics of the procedure. Further, the financial impact is not limited to the healthcare providers alone; it also affects patients and payers.
Additionally, the high cost of minimally invasive spine surgery can translate into increased financial burdens for patients, especially in regions with limited insurance coverage. Also, from a payer's perspective, the reimbursement landscape for these advanced surgical techniques may pose challenges, potentially influencing coverage decisions and provider reimbursement rates. Thus, such factors are expected to hinder the growth of the market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Minimally Invasive Spine Surgery Market Customer Landscape
The minimally invasive spine surgery market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Minimally Invasive Spine Surgery Market Scope |
|
Report Coverage |
Details |
Page number |
153 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.27% |
Market Growth 2024-2028 |
USD 1.82 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
8.79 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 46% |
Key countries |
US, Germany, France, UK, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accelus, Alphatec Holdings Inc., AMS Group S.r.l., Aurora Spine Corp., B.Braun SE, Boston Scientific Corp., Bristol Myers Squibb Co., Captiva Spine Inc., Carl Zeiss AG, Globus Medical Inc., Johnson and Johnson, Life Spine Inc., Medtronic Plc, Nexus Spine., Nuvasive Inc., Orthofix Medical Inc., Precision Spine and Orthopedics Inc., Richard Wolf GmbH, Spineart SA, Spineology Inc., Stryker Corp., and ZimVie Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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