Endoscopic Spinal Surgery Market Research, 2031
The global endoscopic spinal surgery market size was valued at $536.9 million in 2021 and is projected to reach $1,096.31 million by 2031, growing at a CAGR of 7.4% from 2022 to 2031. Endoscopic spinal surgery is adopted as an alternative to open spine surgery which gives equally good or more better results as that of open surgery. This surgical approach utilizes a micro-sized incisions having size less than 1 inch and minor tubular systems associated with an endoscope to visualize the internal body structures. Endoscopic spinal surgery with indirect visualization have overtaken traditional methods which includes direct visualization of the internal organs and thereby assist the surgeon to obtain high quality images during the surgery. Also, the technique allows for effective surgery with minimum invasion to the body, offering faster recovery and reduced pain.
Furthermore, according to a report published by Neurospine in 2020, worldwide, 266 million individuals which counts for 3.63% have degenerative spinal conditions and suffer from lower back pain each year with highest and lowest estimated incidence rates in Europe (5.7%) and Africa (2.4%) respectively. Also, population in both high-income and low-income countries, are affected by one or the other spinal disorder that occur in people who are healthy, athletic and have with complex medical problems and also those who are homebound. Moreover, prolapsed intervertebral disc is one of these common spinal problem which affects young as well as older patients with degenerative spinal conditions. However traditional treatment option fails in more than 10% of people which demands for effective and accurate treatment option. Thus, in this case endoscopic spinal surgery proves to be the choice of treatment for many patients, thereby leading to its rise in demand and further propelling the endoscopic spinal surgery market growth.
In addition, there is rise in adoption of minimally invasive surgeries around the globe, owing to the advantages such less pain associated with procedure, shorter hospital stays, faster recovery and greater patient compliance. This, advantages of endoscopic spinal surgery over the traditional surgery, rises its demand in the healthcare sector.
The endoscopic spinal surgery market size is segmented into Product Type, Procedure type and End User. On the basis of product type, the market is bifurcated into endoscopes and endoscopic devices. By procedure type, the market is segmented into Transforaminal Endoscopic Procedures, Interlaminar Endoscopic Procedures, Endoscopic Posterior Foraminotomy & Cervical Discectomy and Endoscopic Visualized Rhizotomy. On the basis of end user, the market is categorized into hospitals and clinics and ambulatory surgical centers.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Segment Review
By product type, the endoscopic devices segment generated maximum revenue in 2021, whereas the endoscopes segment is estimated to be the fastest growing segment during the forecast period, owing to the rise in adoption of the endoscopy in the diagnosis and treatment by the healthcare providers and also due to new advancements in endoscopes providing high quality visualization of the internal organs in the body.
Depending on procedure type, the transforaminal endoscopic procedures segment generated maximum revenue in 2021, whereas the interlaminar endoscopic procedures is estimated to be the fastest growing segment, with a highest CAGR, owing to the advantage that this technique offers over the traditional techniques and about 80 to 90% of patients reporting less pain and better mobility after surgery.
Depending on end user, the hospitals & clinics segment owned the largest share of the market in 2021, whereas the ambulatory surgical centers (ASC) segment is expected to grow at the highest CAGR during the forecast period due to the rise in the number of ambulatory surgical centers around the globe, rise in funding for the ASC and the shift of minimally invasive surgical procedures performed on an inpatient basis towards outpatient facilities.
Region wise, North America acquired a majority of endoscopic spinal surgery market share in the year 2021, owing to the highly developed and advanced healthcare infrastructure. Whereas, Asia-Pacific is expected to witness the highest growth rate during the endoscopic spinal surgery market forecast. The major factors that drive the growth of the endoscopic spinal surgery market in the region is the elevating healthcare demand for highly accurate and efficient surgical techniques along with development and innovation by the market players present in this region. Moreover, the availability of excessive raw material in this region is leveraging the market.
By Region
North America accounted for a majority of the endoscopic spinal surgery market share in 2021 and is expected to remain dominant during 2022-2031
The major companies profiled in the endoscopic spinal surgery industry include Endovision Co. Ltd, Globus Medical Inc., Jiomax Inc., Johnson & Johnson (Depuy Synthes Spine, Inc), Karl Storz Se & Co. Kg, Medtronic Plc., Medicaltek Co., Ltd., Olympus Corporation, Richard Wolf, Stryker Corporation, and Zimmer Biomet Holdings, Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the endoscopic spinal surgery market analysis from 2021 to 2031 to identify the prevailing endoscopic spinal surgery market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the endoscopic spinal surgery market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global endoscopic spinal surgery market trends, key players, market segments, application areas, and market growth strategies.
Endoscopic Spinal Surgery Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 1.1 billion |
 Growth Rate | CAGR of 7.4% |
 Forecast period | 2021 - 2031 |
 Report Pages | 236 |
 By Product Type |
|
 By Procedure type |
|
 By End User |
|
 By Region |
|
 Key Market Players | ZIMMER BIOMET HOLDINGS, INC., MEDTRONIC PLC., DEPUY SYNTHES SPINE, INC. (JOHNSON & JOHNSON), MEDICALTEK CO., LTD., GLOBUS MEDICAL INC., Richard Wolf GmbH, KARL STORZ SE & CO. KG, Endovision Co., Ltd., STRYKER CORPORATION, OLYMPUS CORPORATION, joimax GmbH |
Analyst Review
According to CXOs, adoption of endoscopic spinal surgery has witnessed a significant increase over the past few years. This is majorly attributed to rise in adoption of minimally invasive spinal surgeries and increase in technological advancements in spinal surgery. In addition, surge in geriatric population, which is more susceptible to such spinal conditions, rise in number of spinal stenosis and other spine disorders, along with rise in number of accidental injuries around the globe, is expected to drive growth of the endoscopic spinal surgery market.
Furthermore, patients suffering from arthritis of spine, spinal stenosis, disc problems, such as a herniated or bulging disc, and myofascial pain syndrome that may require specialized treatment are further anticipated to boost the market growth. Similarly, increase in awareness regarding emerging techniques in surgeries and advancements in instruments and equipment associated with surgical procedures are expected to impel growth of the endoscopic spinal surgery market in the future. In addition, new launches and product approvals by key market players around the globe boost the market growth.
Conversely, higher costs associated with the procedure hinder growth of the market. Furthermore, CXOs added that, North America dominated the endoscopic spinal surgery market in terms of revenue, owing to well-established healthcare infrastructure, presence of key market players, sufficient government funding, and awareness among people regarding endoscopic spinal surgery. On the other hand, Asia-Pacific is expected to grow at a prominent CAGR during the forecast period, owing to surge in investments by key market players, owing to availability of resources in this region.
Factors such as rise in adoption of minimally invasive spinal surgeries, increase in prevalence of spinal disorders, and increase in geriatric population around the globe, along with rise in investment by public and private players are the key growth factor for the market.
Endoscopic Devices segment dominated the global market in 2021,owing to rise in demand for endoscopic spinal surgery around the globe. In addition, new device launches and approvals by key market players contribute toward an increase in sales of this segment.
North America is the largest regional market for Endoscopic Spinal Surgery
The total market value of the endoscopic spinal surgery market is $536.9 million in 2021.
Top companies such as Endovision Co. Ltd, Globus Medical Inc., Jiomax Inc., Johnson & Johnson (Depuy Synthes Spine, Inc), Karl Storz Se & Co. Kg, Medtronic Plc., Medicaltek Co., Ltd., Olympus Corporation, Richard Wolf, Stryker Corporation, and Zimmer Biomet Holdings, Inc. held a high market position in 2021.
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