The Global Minimally Invasive Spine Technologies Market Size is valued at 3.63 billion in 2023 and is predicted to reach 8.17 billion by the year 2031 at a 10.75% CAGR during the forecast period for 2024-2031.
In recent decades, there has been a significant interest in minimally invasive spine surgery (MISS). This trend has been primarily driven by its fundamental principle of reducing approach-related trauma while performing comparable outcomes to conventional open spine procedures. Due to advancements in technology and technical knowledge.
Minimally Invasive Spine Surgery (MISS) is no longer limited to treating simple spinal stenosis but can now effectively address complex spinal pathologies, inclusive of metastasis, trauma, and adult spinal deformity. Minimally Invasive Spine Technologies are produced using plant or animal waste and thus are eco-friendly, non-toxic, and abundant in nature. Hence, the adoption of Minimally Invasive is rapidly growing in current times.
The international market for minimally invasive spinal surgery has been dramatically influenced by the COVID-19 pandemic. The interruption and termination of surgical services as well as the consequences of the illness for public health, also have a collateral effect. For instance, a research study titled "COVID-19 Pandemic and Elective Spinal Surgery Cancellations" that was released in December 2021 claimed that the COVID-19 pandemic led to the suspension of elective procedures because resources were reallocated to the care of COVID-19 patients. Following the start of elective surgeries, many patients delayed surgery, and many are still waiting for a new appointment. This could have prolonged their discomfort and functional impairment. It is projected that situations like this will reduce the need for spinal surgical equipment due to the pandemic.
The major factors that are expected to expedite the growth of the market over the anticipated period include technological advancements in surgical equipment and rising demand for minimally invasive surgeries, an increase in the incidence of spinal disorders, the rising popularity of physician-owned ambulatory surgical centers, and an increase in the geriatric and obese population.
Recent Developments:
- In October 2021, Medtronic became the only business to combine spinal implants, biologics, navigation, robots, and AI-powered data for surgeons and patients, expanding the ecosystem of minimally invasive spine surgery.
Competitive Landscape:
Few of the Minimally Invasive Spine Technologies market players are:
- AMS Group
- Alphatec Holdings, Inc.
- Aurora Spine, Inc.
- Braun SE
- Boston Scientific Corporation
- Globus Medical, Inc.
- Johnson & Johnson
- Medtronic plc
- NuVasive, Inc.
- ORTHOFIX MEDICAL INC.
- Precision Spine, Inc.
- Richard Wolf GmbH
- Spineart
- Spineology Inc.
- Stryker Corporation
Market Segmentation:
The Minimally Invasive Spine Technologies market is segmented on the basis of condition and end user. Based on the condition, the market is segmented as Herniated Disc, Spinal Stenosis, Degenerative Disc Disease, Spinal Deformity, Spinal Fracture, Spinal Infection, and Spinal Tumor. The end user segment includes Hospitals, Ambulatory Surgery Centers, and Orthopedic Clinics.
Based On End User, The Hospitals Segment Is Accounted As A Major Contributor In The Minimally Invasive Spine Technologies Market
The hospital segment covered the largest revenue share. On the other hand, ambulatory surgery centres are expected to undergo the fastest growth rate during the anticipated period. The United States currently has over 5,500 ambulatory surgery centers certified by Medicare. Compared to hospitals, ambulatory surgical centers provide patients with surgery at reduced costs and with more schedule freedom. These healthcare institutions, sometimes known as same-day surgery centers, release patients following minor surgeries.
Orthopedic Segment Witness Growth At A Rapid Rate
The orthopedic market share was ranked second overall. No muscles need to be cut or severed during orthopedic MIS operations. As a result, this strategy has enhanced patient satisfaction and accelerated the healing process. MIS is most frequently used during knee and hip replacement surgeries. Surgery that has fewer operational, postoperative, and hospitalization-related problems is sought after by hospitals and doctors. Pats, on the other hand, look for surgical procedures that lessen trauma and enable quick recovery.
The North America Minimally Invasive Spine Technologies Market Maintains A Significant Revenue Share In The Region
Growing geriatric population and a high prevalence of unintentional injuries made North America the market leader in the regional MIS industry. The US spends more on healthcare per person than any other nation in the world, as per a report by the Organisation for Economic Co-operation and Development (OECD). Additionally, patients in the US have a choice over the providers and modes of treatment. The MIS market in North America is anticipated to benefit from this. On the other hand, from 2024 to 2031, the Asia Pacific area is expected to experience the fastest growth.
Minimally Invasive Spine Technologies Market Report Scope:
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Report Attribute |
Specifications |
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Market size value in 2023 |
USD 3.63 Bn |
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Revenue forecast in 2031 |
USD 8.17 Bn |
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Growth rate CAGR |
CAGR of 10.75% from 2024 to 2031 |
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Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Condition, End-user |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
AMS Group, Alphatec Holdings, Inc., Aurora Spine, Inc., B. Braun SE, Boston Scientific Corporation, Globus Medical, Inc., Johnson & Johnson, Medtronic plc, NuVasive, Inc., ORTHOFIX MEDICAL INC., Precision Spine, Inc., Richard Wolf GmbH, Spineart, Spineology Inc., and Stryker Corporation. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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