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Global Minimally Invasive Spine Technologies Market to 2032: Increasing Incidences and Prevalence of Spinal Disorders Drives Growth
Global Minimally Invasive Spine Technologies Market
Dublin, April 27, 2023 (GLOBE NEWSWIRE) -- The "Minimally Invasive Spine Technologies Market - A Global and Regional Analysis: Focus on Condition, End User Analysis, and Country Analysis - Analysis and Forecast, 2022-2032" report has been added to ResearchAndMarkets.com's offering.
The global minimally invasive spine technologies market was valued at $3,180.9 million in 2022 and is anticipated to reach $9,406.5 million by 2032, witnessing a CAGR of 11.45% during the forecast period 2022-2032.
The growth in the global minimally invasive spine technologies market is expected to be driven by the rising preference for minimally invasive spine surgical procedures globally and increasing awareness among practitioners for simulation, training, and continuous medical education.
Market Lifecycle Stage
The minimally invasive spine technologies market is in the developing phase. The rising demand for minimally invasive surgeries and robotic-assisted surgeries and increasing synergetic activities within the spine surgery industry are some of the major opportunities in the global minimally invasive spine technologies market.
Furthermore, some of the key trends going on in the market are the technological advancements in the field of medical surgery, such as the incorporation of AI, the shift of procedures to ambulatory surgery centers, and increasing synergistic activities.
Impact of COVID-19
The demand for minimally invasive spine technologies witnessed a decline during the pandemic owing to postponing of elective surgeries and other non-urgent procedures. Most of the spinal surgeons' work was eliminated with the closure of elective surgery and outpatient clinics.
It was crucial that emergency spinal care was provided throughout the pandemic, including the development of guidelines to help spinal surgeons properly handle patients.
Furthermore, lockdowns and travel restrictions during the pandemic caused delays in the procurement of raw materials as well as delivery to end users.
Recent Developments in the Global Minimally Invasive Spine Technologies Market
In June 2022, NuVasive, Inc. opened its Singapore Experience Center for the Asia-Pacific region to support the company's growth and increase its global footprint.
In April 2022, SeaSpine launched the Reef TA (TLIF Articulating) Interbody System. This new system is engineered to deliver an interbody to the front part of the spinal disc space with precision, with the aim of enhancing sagittal alignment and endplate support. The Reef TA Interbody System offers a variety of footprint and lordotic options, giving surgeons the flexibility to address specific anatomical requirements during the surgical procedure.
In October 2022, Orthofix and SeaSpine merged as equals to form a leading global company in the spine and orthopedics industry.
In July 2022, Medtronic plc received approval from the U.S. Food and Drug Administration (FDA) for its latest version of the UNiD Spine Analyzer, which includes a predictive model for degenerative spinal surgery.
In October 2022, Captiva Spine entered into an exclusive strategic partnership with REMEX Medical for Spine Navigation and Robotics for the expansion of their product portfolio.
Demand - Drivers and Limitations
The following are the drivers for the minimally invasive spine technologies market:
Increasing Incidences and Prevalence of Spinal Disorders
Increasing Preference for Minimally Invasive Spine Surgeries
Technological Advancement in Minimally Invasive Spine Surgical Procedures
The market is expected to face some limitations due to the following challenges:
Lack of Well-Established Landscape for Reimbursement for Minimally Invasive Spinal Procedures
High Cost of Capital Equipment Purchases and Disposables
Lack of Training Leading to Shortage of Skilled Professionals
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Key Companies Profiled
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.
Stryker Corporation
Key Attributes:
Report Attribute | Details |
No. of Pages | 183 |
Forecast Period | 2022 - 2032 |
Estimated Market Value (USD) in 2022 | $3180.9 Million |
Forecasted Market Value (USD) by 2032 | $9406.5 Million |
Compound Annual Growth Rate | 11.5% |
Regions Covered | Global |
Key Topics Covered:
1 Markets
1.1 Global Market Outlook
1.2 Industry Outlook
1.3 Impact of COVID-19 on the Global Minimally Invasive Spine Technologies
1.4 Business Dynamics
1.4.1 Impact Analysis
1.4.2 Business Drivers
1.4.2.1 Increasing Incidences and Prevalence of Spinal Disorders
1.4.2.2 Increasing Preference for Minimally Invasive Spine Surgeries
1.4.2.3 Technological Advancement in Minimally Invasive Spine Surgical Procedures
1.4.3 Business Restraints
1.4.3.1 Lack of Well-Established Landscape for Reimbursement for Minimally Invasive Spinal Procedures
1.4.3.2 Factors Hindering the Implementation of Minimally Invasive Spinal Surgeries
1.4.3.2.1 High Cost of Capital Equipment Purchases and Disposables
1.4.3.2.2 Lack of Training Leading to Shortage of Skilled Professionals
1.4.4 Business Opportunities
1.4.4.1 Augmentation of Artificial Intelligence in Minimally Invasive Spine Surgery
1.4.4.2 Leveraging Synergies to Diversify Business Portfolio
2 Global Minimally Invasive Spine Technologies Market (by Condition)
2.1 Overview
2.2 Opportunity Assessment
2.3 Herniated Disc
2.4 Spinal Stenosis
2.5 Degenerative Disc Disease
2.6 Spinal Deformity
2.7 Spinal Fracture
2.8 Spinal Infection
2.9 Spinal Tumor
3 Global Minimally Invasive Spine Technologies Market (by End User)
3.1 Overview
3.2 Opportunity Assessment
3.3 Hospitals
3.4 Ambulatory Surgery Centers
3.5 Orthopedic Clinics
4 Global Minimally Invasive Spine Technologies Market (by Region)
5 Competitive Benchmarking and Company Profiles
5.1 Competitive Landscape
5.1.1 Key Strategies and Developments
5.1.1.1 Regulatory and Legal Activities
5.1.1.2 New Offerings
5.1.1.3 Mergers and Acquisitions
5.1.1.4 Partnerships, Collaborations, and Business Expansions
5.2 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/14ywf
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