Minimally Invasive Spine Surgery Market - Forecast(2022 - 2027)

Report Code: HCR 43262 Report Format: PDF + Excel

Minimally Invasive Spine Surgery Market Overview

The Minimally Invasive Spine Surgery Market size is estimated to reach $635.2 million by 2027. Furthermore, it is poised to grow at a CAGR of 5.1% over the forecast period of 2022-2027. Minimal invasive surgeries are extensively growing globally owing to the various benefits it offers. It works by making small incisions near the spine, which also minimizes the damage around the muscles and ligaments. Further, it offers faster recovery times, reduces chances of catching a secondary infection, low blood loss, and lastly allowing the patient to return back to their lifestyle. The minimally invasive surgeries differ from open-spine surgery in multiple ways. For one, to perform an open-spine surgery, the surgeon will make an incision around 6 inches. Moreover, the surgical times are longer than discussed and the patient must remain hospitalized for a longer period of time. Various surgeries are now being performed across the globe to cater to the fuelling needs of the patients afflicted. For example, anterior cervical discectomy and fusion are performed to treat disc herniation and degenerative disc diseases. Owing to the rising cases of trauma supplemented by the awareness pertaining to the advantages the surgeries offer are some of the identified drivers for the Minimally Invasive Spine Surgery Industry for the projected period of 2022-2027.

Report Coverage

The report: Minimally Invasive Spine Surgery Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Minimally Invasive Spine Surgery Market.
By Treatment – Compression Fracture Repair, Spinal Stenosis Decompression, Herniated Disc Removal, Spinal Canal Enlargement, Minimally Invasive Spinal Fusion, and Artificial Disc Replacement.
By Instruments- Implants & Instrumentation and Biomaterials.
By End-Users- Hospitals, Private Clinics, Ambulatory Surgical Centers, and Others.
By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (the Middle East, and Africa).

Key Takeaways

  • Geographically, North America’s minimally invasive spine surgery market held the dominant market share in the year 2021. It is owing to the prevalence of spine diseases amongst all age groups. Moreover, ease of treatment, reimbursement policies, and knowledgeable medical professionals are some of the factors for the soaring market. However, Asia-Pacific is set to outgrow other regions, and offer lucrative growth opportunities to the marketers. It is owing to the rising focus pertaining to the development of medical infrastructure and medical tourism.
  • The uprising of ASCs and the growing geriatric population are some of the key drivers for the market. However, insurance claims for elective spine surgery remain vulnerable and pose an active market challenge.
  • A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Minimally Invasive Spine Surgery Market Report. 

Minimally Invasive Spine Surgery Market- Geography (%) for 2021.

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Minimally Invasive Spine Surgery Market Segmentation Analysis- By Treatment

The minimally invasive spine surgery market is further bifurcated into Compression Fracture Repair, Spinal Stenosis Decompression, Herniated Disc Removal, Spinal Canal Enlargement, Minimally Invasive Spinal Fusion, and Artificial Disc Replacement. Herniated Disc Removal held a dominant market share in the year 2021. The following condition arrives when the patient experiences compressed nerves. Further, laminectomies are performed in conjunction with discectomy. Further, around 70-80% of the patients feel relief in their back-pain, which makes the following problem curable.

However, Spinal Stenosis Decompression is estimated to be the fastest-growing, with a CAGR of 5.7% over the forecast period of 2022-2027. It happens when one’s spinal canal narrows down and starts creating bone spurs and obstructions. Further, the American Academy of Orthopedic Surgery estimates that nearly 8-11% of the population in the US have such ailment. Moreover, they estimate that in 2021, the numbers were added by at-least 2.5 million. Owing to the following factors, the segment is estimated to offer a steadfast pace to marketers.

Minimally Invasive Spine Surgery Market Segmentation Analysis- By End-Users

The minimally invasive spine surgery market based on end-users can be further segmented into Hospitals, Private Clinics, Ambulatory Surgical Centers, and Others. Ambulatory Surgical Centers held a dominant market share in the year 2021. It is owing to the options patients have in terms of minimally invasive surgeries. Moreover, hospitals outsource such surgeries to outpatient centers or ambulatory surgical centers. Since the incisions are small and the bleeding or complications are low, ambulatory surgical centers are able to provide services at a higher satisfaction rate.

Moreover, Ambulatory Surgical Centers are estimated to be the fastest-growing, with a CAGR of 5.9% over the forecast period of 2022-2027. It is owing to the government’s preference, as the following module saves billions of dollars. Additionally, as of 2010, there were close to 5000 ASC, which have now grown to 9600 in 2021. Hence, the substantial addition of such centers would allow the segment to grow.

Minimally Invasive Spine Surgery Market Segmentation Analysis- By Geography

The minimally invasive spine surgery market based on geography can be further segmented into North America, South America, Europe, Asia-Pacific, and the Rest of the World. Geographically, North America’s market held a dominant share of 35% in 2021. It is owing to the increment in the number of ASCs along with the constant rise in the cases of spine injuries. Also, the geriatric population is substantially growing. For example, by the year 2025, Canada and the USA will have age dependency close to 30% for the age group of 60 and above.

However, Asia-Pacific is poised to offer lucrative growth opportunities to marketers in the projected period of 2022-2027. It is predominantly linked to the growing geriatric population and sedentary lifestyles. For example, there has been a decrement in the fertility rates of the low-and middle-income countries of the Asia-Pacific, which thereby will increase the older generation, and hence the market will be substantially benefitted.

Minimally Invasive Spine Surgery Market Drivers

The operational advantages over the traditional surgeries have aided the market

The operational advantages of minimally invasive surgeries are many and have countered and answered to all the potential drawbacks of extensive and traditional surgeries. Post-operative hematoma formation, neurological diseases, and disabilities, along with problems pertaining to wound healing, were found in the majority. To counter such problems, minimally invasive surgeries relied on providing local anesthesia and small incision cuts. Further, patients suffering from spine injuries and diseases are predominantly senior or old. Further, such geriatric population is prone to hypertension, diabetes, obesity, and various others. In order to go along with the surgical requirement, doctors prefer to adopt minimally invasive surgery. Moreover, CDC estimates that by 2040, the geriatric population will occupy close to 22% of the entire population demarcation, which for now is close to 16%. Owing to such factors, the market has and will grow at a steadfast pace. 

Minimally Invasive Spine Surgery operations can be provided in Ambulatory Surgical Centers which are gaining traction in the developed countries.

Patients prefer to visit ASCs for all the minimally invasive surgery options, especially pertaining to orthopedic ailments. It is attributed to the fact that satisfaction takes a significant boost, as 92% are satisfied when they had their procedures done in ASCs against 60% who went to get it done in hospitals. Moreover, patients have provided the primary reason as “low-hospital stay time”, “better costs”, and “same-day discharge.” Moreover, the geriatric populations are opting for such centers as the risk of latching on SSIs is far low in such setups. Lastly, the Biden Administration plans to save close to $22 billion in their American Rescue Plan setting, as the overall cost ramification is far lower in the following setup.

Minimally Invasive Spine Surgery Market Challenges

The growing insurance costs for minimally invasive elective surgeries poses as a grave market challenge.

The elective surgeries in the pandemic period halted especially the minimally invasive surgeries. Owing to such volume impeding in the pipeline, insurers have started to hike the overall insurance costs. Additionally, only 41% of the surgeries were performed in the ASCs during the pandemic, of which 73% had to halt their elective surgeries. Owing to the rising demands, insurance companies have started hiking the cost plan per person, to distribute the overall impact. Moreover, during the pandemic, most of the families had to in-cash their medical insurances, which further made the funds available for the companies go low. In order to retain the lost capital, costs have zoomed, and have acted as a grave market challenge.

Minimally Invasive Spine Surgery Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in this market. Minimally Invasive Spine Surgery top 10 companies include:

  1. Globus Medical Inc
  2. NuVasive Inc
  3. Life Spine In
  4. Paradigm Spine
  5. Medtronic
  6. Johnson & Johnson
  7. Boston Scientific
  8. Zimmer Biomet
  9. Mikai S.p.A,
  10. Synthes GmbH

Recent Developments

  • In November 2021, Max Hospital launched the “Da-Vinci- XI” surgical robot to assist in performing robotic-assisted minimally invasive procedures or surgeries. The device can mimic a surgeon’s hand movement in real-time, at the console whereby bending and rotating the instruments according to the will and need for procedure. Moreover, apart from spine and orthopedic surgeries, it can come in handy for oncology, bariatric surgery procedures, gynaecology, general surgery, and various others.
  • In October 2021, Medtronic unveiled three additions to its minimally invasive spine surgery portfolio. It now includes surgical access hardware, expandable titanium interbody implants, and a bone graft delivery system. It would allow for transformational lumbar interbody fusion or TLIF procedure. Moreover, it would allow to treat conditions such as herniated discs or fractured vertebrae.
  • In May 2019, Boston Scientific acquired Veriflex. The latter company is known to provide an indirect compression system, a minimally invasive device to alleviate pain pertaining to LSS or Lower Spinal Stenosis. Moreover, the reason for acquisition is to hold on to a dominant position in the pain management portfolio. Lastly, the company wishes to aggressively put its forward in the dimension of treating LSS cases, for which the cases account for 6 million in the US.

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Orthopedic Devices Market – Forecast (2022 - 2027)
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1. Minimally Invasive Spine Surgery Market Overview
    1.1 Definitions and Scope
2. Minimally Invasive Spine Surgery Market- Executive Summary
3. Minimally Invasive Spine Surgery Market – Market Landscape
    3.1 Company Benchmarking- Key Companies
    3.2 Key Company Financial Analysis
    3.3 Market Share Analysis
    3.4 Patent Analysis
    3.5 Pricing Analysis (Comparison of General Price Offerings in the Market)
4. Minimally Invasive Spine Surgery Market – Startup Company Scenario (Premium)
    4.1 Investment
    4.2 Revenue
    4.3 Venture Capital and Funding Scenario
5. Minimally Invasive Spine Surgery Market – Industry Market Entry Scenario Premium (Premium)
    5.1 Regulatory Scenario
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. Minimally Invasive Spine Surgery Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Minimally Invasive Spine Surgery Market – By Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle Analysis
8. Minimally Invasive Spine Surgery Market- By Treatment (Market Size –$Million/$Billion)
    8.1 Compression Fracture Repair
    8.2 Spinal Stenosis Decompression
    8.3 Herniated Disc Removal
    8.4 Spinal Canal Enlargement
    8.5 Minimally Invasive Spinal Fusion
    8.6 Artificial Disc Replacement
9. Minimally Invasive Spine Surgery Market- By Instruments (Market Size –$Million/$Billion)
    9.1 Implants and Instrumentation
    9.2 Biomaterials
    9.3 Others
10. Minimally Invasive Spine Surgery Market- By End-Users (Market Size –$Million/$Billion)
    10.1 Hospitals
    10.2 Private Clinics
    10.3 Ambulatory Surgical Centers
    10.4 Others
11. Minimally Invasive Spine Surgery Market - By Geography (Market Size -$Million/Billion)
    11.1 North America
        11.1.1 U.S
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 Germany
        11.2.2 France
        11.2.3 UK
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Russia
        11.2.7 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 South Korea
        11.3.4 India
        11.3.5 Australia & New Zealand
        11.3.6 Rest of APAC
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Chile
        11.4.4 Colombia
        11.4.5 Rest of South America
    11.5 Rest of the World
        11.5.1 Middle East
        11.5.2 Africa
12. Minimally Invasive Spine Surgery Market - Market Entropy
    12.1 New product launches
    12.2 M&A's, collaborations, JVs, and partnerships
13. Minimally Invasive Spine Surgery Market – Industry Competition Landscape (Premium)
    13.1 Market Share Analysis
        13.1.1 Global Market Share – Key Companies
        13.1.2 Market Share by Region – Key Companies
        13.1.3 Market Share by Countries – Key Companies
    13.2 Competition Matrix
    13.3 Best Practices for Companies
14. Minimally Invasive Spine Surgery Market – Key Company List by Country Premium (Premium)
15. Minimally Invasive Spine Surgery Market - Company Analysis
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10
"*Financials would be provided on a best-efforts basis for private companies

LIST OF TABLES

1.Global Global Lixisenatide Market, By Product Market 2019-2024 ($M)
1.1 Industrial Grade Market 2019-2024 ($M) - Global Industry Research
1.2 Pharmaceutical Grade Market 2019-2024 ($M) - Global Industry Research
2.Global Hospital Market 2019-2024 ($M)
3.Global Global Lixisenatide Market, By Product Market 2019-2024 (Volume/Units)
3.1 Industrial Grade Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 Pharmaceutical Grade Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Hospital Market 2019-2024 (Volume/Units)
5.North America Global Lixisenatide Market, By Product Market 2019-2024 ($M)
5.1 Industrial Grade Market 2019-2024 ($M) - Regional Industry Research
5.2 Pharmaceutical Grade Market 2019-2024 ($M) - Regional Industry Research
6.North America Hospital Market 2019-2024 ($M)
7.South America Global Lixisenatide Market, By Product Market 2019-2024 ($M)
7.1 Industrial Grade Market 2019-2024 ($M) - Regional Industry Research
7.2 Pharmaceutical Grade Market 2019-2024 ($M) - Regional Industry Research
8.South America Hospital Market 2019-2024 ($M)
9.Europe Global Lixisenatide Market, By Product Market 2019-2024 ($M)
9.1 Industrial Grade Market 2019-2024 ($M) - Regional Industry Research
9.2 Pharmaceutical Grade Market 2019-2024 ($M) - Regional Industry Research
10.Europe Hospital Market 2019-2024 ($M)
11.APAC Global Lixisenatide Market, By Product Market 2019-2024 ($M)
11.1 Industrial Grade Market 2019-2024 ($M) - Regional Industry Research
11.2 Pharmaceutical Grade Market 2019-2024 ($M) - Regional Industry Research
12.APAC Hospital Market 2019-2024 ($M)
13.MENA Global Lixisenatide Market, By Product Market 2019-2024 ($M)
13.1 Industrial Grade Market 2019-2024 ($M) - Regional Industry Research
13.2 Pharmaceutical Grade Market 2019-2024 ($M) - Regional Industry Research
14.MENA Hospital Market 2019-2024 ($M)

LIST OF FIGURES

1.US Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
2.Canada Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
3.Mexico Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
4.Brazil Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
5.Argentina Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
6.Peru Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
7.Colombia Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
8.Chile Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
9.Rest of South America Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
10.UK Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
11.Germany Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
12.France Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
13.Italy Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
14.Spain Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
15.Rest of Europe Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
16.China Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
17.India Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
18.Japan Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
19.South Korea Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
20.South Africa Minimally Invasive Spine Surgery Market Revenue, 2019-2024 ($M)
21.North America Minimally Invasive Spine Surgery By Application
22.South America Minimally Invasive Spine Surgery By Application
23.Europe Minimally Invasive Spine Surgery By Application
24.APAC Minimally Invasive Spine Surgery By Application
25.MENA Minimally Invasive Spine Surgery By Application
26.Zealand Pharma A/S, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Sanofi-Aventis Llc, Sales /Revenue, 2015-2018 ($Mn/$Bn)