PUBLISHER: The Business Research Company | PRODUCT CODE: 1539739
PUBLISHER: The Business Research Company | PRODUCT CODE: 1539739
Minimally invasive spine surgery devices are specialized tools and instruments designed for conducting spinal surgeries through small incisions. These devices are utilized to treat a variety of spinal conditions, aiming to minimize trauma to surrounding tissues. Their goal is to facilitate faster recovery, reduce postoperative discomfort, and shorten hospital stays compared to traditional open spine surgery methods.
Key types of minimally invasive spine surgery devices include cervical fusion devices, spine biologics, devices for treating vertebral compression fractures, non-fusion devices, spine bone stimulators, and spinal decompression devices. Cervical fusion devices are implants used to fuse vertebrae in the neck, stabilizing the spine and alleviating pressure on spinal nerves or the spinal cord. These devices are employed in treatments such as disk herniation, degenerative spinal diseases, spinal stenosis, and other procedures such as discectomy, laminotomy, foraminotomy, facetectomy, and corpectomy. Minimally invasive spine surgery devices find application in both fusion and non-fusion surgeries and are used across various settings including ambulatory surgical centers (ASCs) and hospitals.
The minimally invasive spine surgery devices market research report is one of a series of new reports from The Business Research Company that provides minimally invasive spine surgery devices market statistics, including minimally invasive spine surgery devices industry global market size, regional shares, competitors with a minimally invasive spine surgery devices market share, detailed minimally invasive spine surgery devices market segments, market trends and opportunities, and any further data you may need to thrive in the minimally invasive spine surgery devices industry. This minimally invasive spine surgery devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The minimally invasive spine surgery devices market size has grown strongly in recent years. It will grow from $1.06 billion in 2023 to $1.11 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth observed in the historic period can be explained by several factors include rising patient preference for minimally invasive procedures, expanding clinical evidence validating their efficacy and safety, cost pressures on healthcare systems, the proliferation of training programs and educational initiatives, and a notable shift in surgical practices.
The minimally invasive spine surgery devices market size is expected to see strong growth in the next few years. It will grow to $1.36 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The anticipated growth in the forecast period is expected to be driven by several key factors include the rapid digitization of healthcare, widespread adoption of electronic health records (EHRs), exploration of regenerative medicine techniques, evolving healthcare reimbursement policies, and enhanced collaboration among device manufacturers. Major trends during this period will include advancements in surgical instruments and imaging technologies, development of biocompatible materials and implants, progress in personalized medicine and genetic testing, integration of remote monitoring technologies and telemedicine platforms, as well as the incorporation of virtual reality (VR) and augmented reality (AR) technologies.
The rise in incidences of spinal disorders is expected to drive the growth of the minimally invasive spine surgery devices market in the coming years. Spinal disorders encompass a range of conditions affecting the spine, such as herniated discs, spinal stenosis, and scoliosis, which often lead to pain, stiffness, or neurological symptoms. This increase is influenced by factors including aging populations, sedentary lifestyles, repetitive stress injuries, and degenerative changes in spinal structures. Minimally invasive spine surgery devices play a crucial role in treating these disorders by reducing tissue damage, accelerating recovery times, and minimizing post-operative discomfort compared to traditional open surgery methods. For example, according to the National Spinal Cord Injury Statistical Center at the University of Alabama at Birmingham, an estimated 305,000 individuals in the United States are projected to have experienced traumatic spinal cord injuries in 2024, compared to approximately 302,000 in 2023. This upward trend underscores the growing demand for advanced spinal treatment options, further bolstering the market for minimally invasive spine surgery devices.
Leading companies in the minimally invasive spine surgery devices market are focusing on innovation, particularly in developing advanced products such as customizable retractor systems. These systems are designed to enhance surgical precision and improve patient outcomes by providing precise access and improved visibility, thereby reducing tissue damage and promoting faster recovery times. For example, in April 2023, Orthofix Medical Inc., a US-based medical device company, introduced two new retractor systems tailored for minimally invasive spine procedures. The Lattus Lateral Access System emphasizes ease of use and versatility with its blade retraction capabilities, supporting Orthofix's WaveForm L and Regatta NanoMetalene devices. On the other hand, the Fathom Pedicle-Based Retractor System features three active telescoping blade fixations, allowing for precise customization and enhanced visualization while minimizing disruption to surrounding tissues. These advancements in surgical tools optimize workflows and cater to specific patient anatomies, reflecting ongoing efforts to advance surgical techniques in minimally invasive spine surgery.
In January 2023, Orthofix Medical Inc., a US-based company specializing in spine surgical devices, completed a merger with SeaSpine Holdings Corporation. This merger aims to combine their strengths in developing advanced spine and orthopedic products. The newly merged entity, Orthofix-SeaSpine, now possesses a comprehensive portfolio that includes biologics, innovative spinal hardware, bone growth therapies, specialized orthopedic solutions, and a leading surgical navigation system. SeaSpine Holdings Corporation, also based in the US, brings its expertise in various spine surgical devices to enhance the capabilities and offerings of the combined organization.
Major companies operating in the minimally invasive spine surgery devices market are Stryker Corporation, Boston Scientific Corporation, Zimmer Biomet Holdings Inc., NuVasive Inc., Globus Medical Inc., MicroPort Scientific Corporation, Orthofix International N.V., Aesculap Inc., Alphatec Holdings Inc., SeaSpine Holdings Corporation, RTI Surgical Inc., Spinal Elements, Xtant Medical, Precision Medical Inc., Spine Wave Inc., Zavation Medical Products LLC., Life Spine Inc., Nexxt Spine LLC, CTL Amedica Corporation, Intrinsic Therapeutics Inc, Captiva Spine Inc., DePuy Synthes, Osseus Fusion Systems, SpineGuard S.A.
North America was the largest region in the minimally invasive spine surgery devices market in 2023. The regions covered in the minimally invasive spine surgery devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the minimally invasive spine surgery devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The minimally invasive spine surgery devices market consists of sales of endoscopes, retractors, and navigational systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Minimally Invasive Spine Surgery Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on minimally invasive spine surgery devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for minimally invasive spine surgery devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The minimally invasive spine surgery devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The continued but declining impact of COVID-19 on supply chains and consumption patterns.