The minimally invasive spine surgery devices global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Minimally Invasive Spine Surgery Devices Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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 in the historic period can be attributed to increasing patient preference for minimally invasive procedures, growing clinical evidence supporting efficacy and safety, cost pressures on healthcare systems, increasing training programs and educational initiatives, and a shift in surgical paradigm.
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 growth in the forecast period can be attributed to acceleration of healthcare digitization, adoption of electronic health records (EHRS), exploration of regenerative medicine techniques, evolving healthcare reimbursement policies, and increased collaboration among device manufacturers. Major trends in the forecast period include innovations in surgical instruments, imaging technologies, development of biocompatible materials and implants, advances in personalized medicine and genetic testing, integration of remote monitoring technologies and telemedicine platforms, and integration of VR and AR technologies.
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Scope Of Minimally Invasive Spine Surgery Devices Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Minimally Invasive Spine Surgery Devices Market Overview
Market Drivers –
The increase in incidences of spinal disorders is expected to propel the growth of the minimally invasive spine surgery devices market going forward. Spinal disorders refer to conditions affecting the spine, such as herniated discs, spinal stenosis, and scoliosis, causing pain, stiffness, or neurological symptoms. The rise in spinal disorders is fueled by several factors, such as aging populations, sedentary lifestyles, repetitive stress injuries, and degenerative changes in the spine’s structures. Minimally invasive spine surgery devices are used to treat spinal disorders by reducing tissue damage, shortening recovery times, and minimizing post-operative pain compared to traditional open surgery. For instance, in 2024, according to the National Spinal Cord Injury Statistical Center, a US-based department of the University of Alabama at Birmingham (UAB), in 2024, approximately 305,000 individuals in the United States are estimated to have traumatic spinal cord injury (tSCI), with estimates ranging from 257,000 to 388,000 persons. Comparatively, in 2023, the estimated number was around 302,000 individuals, ranging from 255,000 to 383,000 persons. Therefore, the increase in incidences of spinal disorders is driving the growth of the minimally invasive spine surgery devices market.
Market Trends –
Major companies operating in the minimally invasive spine surgery devices market are focusing on developing advanced products, such as customizable retractor systems to enhance surgical precision and improve patient outcomes. Customizable retractor systems in minimally invasive spine surgery provide precise access and enhanced visibility, reducing tissue damage and recovery time. For instance, in April 2023, Orthofix Medical Inc., a US-based medical device company, launched two new retractor systems for minimally invasive spine procedures. The Lattus Lateral Access System offers ease of use, versatile blade retraction, and supports Orthofix’s WaveForm L and Regatta NanoMetalene devices. The Fathom Pedicle-Based Retractor System features three active telescoping blade fixations, allowing precise customization and enhancing visualization with minimal tissue disruption. Both systems optimize surgical workflows and address specific patient anatomy.
The minimally invasive spine surgery devices market covered in this report is segmented –
1) By Product: Cervical Fusion Devices, Spine Biologics, Vertebral Compression Fracture Treatment Devices, Non-fusion Devices, Spine Bone Stimulators, Spinal Decompression Devices
2) By Treatment: Disk Herniation, Degenerative Spinal Disease, Spinal Stenosis, Other Treatments
3) By Procedure: Discectomy, Laminotomy, Foraminotomy, Facetectomy, Corpectomy
4) By Application: Fusion Surgery, Non-Fusion Surgery
5) By End User: Ambulatory Surgical Centers (ASCs), Hospitals
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Regional Insights –
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.
Key Companies –
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.
Table of Contents
1. Executive Summary
2. Minimally Invasive Spine Surgery Devices Market Report Structure
3. Minimally Invasive Spine Surgery Devices Market Trends And Strategies
4. Minimally Invasive Spine Surgery Devices Market – Macro Economic Scenario
5. Minimally Invasive Spine Surgery Devices Market Size And Growth
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27. Minimally Invasive Spine Surgery Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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