Minimally Invasive Spine Surgery Market size is forecast to reach $550 Million by 2025, growing at a CAGR of 4.8% during the forecast period 2020-2025. Minimally Invasive Spine Surgery is a type of surgery which is performed to stabilize the vertebral bones and spinal joints and/or relieve the pressure being applied to the spinal nerves — often a result of conditions such as spinal instability, bone spurs, herniated discs, scoliosis or spinal tumors. Among the major advantages of Minimally Invasive Spine Surgery, the important ones are better cosmetic results from smaller skin incisions, less blood loss from surgery and reduced risk of infection and postoperative pain. Growing prevalence of spinal disorders among the geriatric population, increasing cases of bone diseases among the masses and technological advancements in surgical equipment has resulted in a rise in demand of Minimally Invasive Spine Surgery across the globe. Minimally Invasive Spine Surgery Market Analysis is based on device type, product type, application, end-user and geography.
• North America dominated the Minimally Invasive Spine Surgery Market in the year 2019 owing to increasing incidences of spinal disorders, such as herniated discs, degenerative disc disease, spondylolisthesis, slipped disc, spinal stenosis, and osteoarthritis, and more government schemes and investments on healthcare. The Minimally Invasive Spine Surgery Market scope for different regions will be provided in the final report.
• Growing incidences of spinal disorders among the old age population, increasing rate of spine and bone disorders and major technological innovations in surgical equipment of Minimally Invasive Spine Surgery have helped in significant growth of Minimally Invasive Spine Surgery Market. Replacement of open-spine surgery by minimally invasive spine surgery is set to drive the growth of Minimally Invasive Spine Surgery industry during the forecast period 2020-2025.
• Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Minimally Invasive Spine Surgery Market Research report.
• Higher costs of surgical spinal procedures in upcoming years is anticipated to hamper the market growthof the Minimally Invasive Spine Surgery Industry.
Device Type- Segment Analysis
Spinal Fusion devices held the largest share in the device type segment of Minimally Invasive Spine Surgery Market in 2019 and is estimated to grow at a CAGR of 3.5%during the forecast period 2020-2025. Rising incidences of severe spine disorders like degenerative disc disease and spinal stenosis among old age people, growing number of spinal fusion procedures, and technological advancements in spinal fusion techniques and bone grafting procedures have fuelled the market growth of this segment. Spinal Decompressionsecured the second largest share in 2019. Spinal Decompression Devices help to relieve pressure on the nerve roots is successful in relieving pain in 80% to 90% of patients. Surgery does not correct the underlying degeneration of the vertebrae owing to wear and tear of aging. Rest of the segments, like fracture repair and arthroplasty, are growing steadily. Particularly for relieving pain from a herniated disc, lumbar decompression surgery may be considered as an option. Spinal Fusionis set to be the fastest growing segment and will register the highest CAGR during the forecast period 2020-2025, owing to increasing approval of new surgical implants and much greater increase in cases than in other major orthopedic procedures. The most rapid increases in fusion rates were among adults aged 60 and above.
End User – Segment Analysis
Hospitalsholds the major share in the deployment model segment of Minimally Invasive Spine Surgery Market in 2019. Improving government expenditure on healthcare infrastructure in developing countries like China and Japan have helped in financial growth of hospitals. As a result, there is a rapid rise in spine surgeries done in hospitals in recent years, which in turn has led to of surgeries in hospitals. This has driven the growth of the hospitals segment in Minimally Invasive Spine Surgeries Market. Ambulatory Surgical Centers(ASCs) segment is poised to continue dominating the market with the highest CAGR during the forecast period 2020-2025, owing to the increasing facilities of ASCs like value-based care, total joint replacement, bundled payments, HOPD conversion and employed physicians as ASC partners.
Geography- Segment Analysis
North America dominates the geography segment of Minimally Invasive Spine Surgery Marketwith a share of more than 43%in 2019, followed by Europe.The increasing cases of people suffering from lower back problems every year has led to gradual rise in the treatment market in this region. Ageing population and the growing healthcare investments by government and major key players of the market has also led to growing opportunities for this market. These factors have driven the market growth in this region.Europe held the second largest share in 2019, owing to presence of a well-developed healthcare infrastructure, growing incidences of spine disorders among people and rising cases of accidents in this region.
Asia-Pacific is estimated to grow at the fastest rate during the forecast period 2020-2025. There is a rapid growth of healthcare facilities and launch of new market players in this region, which will provide greater opportunities in the upcoming years. Additionally, technological developments in bone grafting products are anticipated to further help in market growth in this region.
Drivers –Minimally Invasive Spine Surgery Market
• Growing incidences of spinal disorders among the old age population
It is estimated that the incidence rate of non-tuberculous or non-postoperative spondylodiscitis in the general population is approximately 0.2 to 2.4 cases per 100,000 people-years, while that for people over 65 years old is as high as 9.8 cases per 100,000 person-years. A recent population-based study reported that males aged 70 years or older displayed six times higher incidence rate of pyogenic non-tuberculosis spondylodiscitis than males under 70 years old. Likewise, females aged 70 years or above were three times more likely to exhibit pyogenic non-tuberculosis spondylodiscitis than younger counterparts. As a result, the surgery market is set to witness an upsurge in recent years.
• Major technological innovations in surgical equipment
In the past decade, great advances have been made that has taken navigation of the spine as well as localization to a new height. Also known as “computer-assisted, image-guidance,” Spine Navigation Technology is advancing at a rapid rate. Another technological advancement is Bone Morphogenetic Proteins (BMP). Molecular biological advances will tie in with these navigational and biomaterial advances. Very soon, genetically-engineered proteins called Bone Morphogenetic Proteins (BMP) is anticipated to be commercially available for bone fusion surgery.
Challenges – Minimally Invasive Spine Surgery Market
• Higher surgery costs
In recent years, along with technological advancements, the costs of surgeries have seen an unprecedented rise. It was estimated that surgery costs were significantly higher for patients operated, with average total charges of $82,000, which is way above the affordable costs. This is anticipated to hamper the market growth during the forecast period 2020-2025.
Minimally Invasive Spine Surgery Market Outlook
Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Minimally Invasive Spine Surgery Market. Minimally Invasive Spine Surgery Market revenue is primarily generated by manufacturing and distribution by the key market players. In 2019, Minimally Invasive Spine Surgery Market share is consolidated by the top players present in the market. Minimally Invasive Spine Surgery Market top10 companies are Sanofi-Aventis Llc, Zealand Pharma A/S, Kuros Biosciences, Medtronic PLC, NuVasive, Stryker, Zimmer Biomet, Globus Medical, B. Braun Melsungen AG and Abbott Laboratories among others.
- In September 2019, Kuros Biosciences announced U.S. FDA approval of the Investigational New Drug (IND) application to initiate Fibrin-PTH (KUR-113) Phase 2A clinical trial in spinal fusion.
- In November 2019, Medtronic introducedMazor X Stealth Edition for Robotic-Assisted Spine Surgery in India.
- In September 2019, NuVasive to demonstrate enabling technologies to accelerate the adoption of minimally invasive spine surgery at NASS 2019. The company also unveiled its robotic application designed to support the future of spine care.