Minimally Invasive Spine Technologies Market Overview
Minimally Invasive Spine Technologies Market was valued at US$ 4.3 Billion in 2024 and is projected to grow at a CAGR of 10.40% to reach US$ 11.6 Billion by 2034. Minimally Invasive Spine surgery is a type of surgery on bones of backbone or spine which uses smaller incisions than open surgery and thus, causes less harm to muscles and tissues. Elder patient with chronic diseases requires minimally invasive surgery. An individual with disease condition like Spinal Tumor, Spinal Infection, Herniated Disc, Degenerative Disc Disease, Spinal Stenosis and Spinal Deformity require minimally invasive spine surgeries which has driven the Minimally Invasive Spine Technologies market growth over the forecast period.
Minimally Invasive Spine Technologies Market Dynamics
Growing Geriatric Population to fuel market growth
Growing geriatric population across globe has become major contribution in market growth. Advancement in medical technologies has increased lifespan of humans in last decade. Rising ageing population coupled with growing chronic diseases has boost the demand for market growth. Growing adoption of sedentary lifestyle has given rise in obesity, acute injuries which has increased risk of degenerative disc disease in turn, is likely to propel Minimally Invasive Spine Technologies market growth.
According to WHO (World Health Organization), each year around 250,000 and 500,000 of an individual suffer from spinal cord injury across globe.
For instance, in 2017 (PubMed Central), according to United Nations, the geriatric population aged 60 years or above across globe will triple by 2050, and rapidly growing geriatric population has increased likelihood of musculoskeletal diseases. The studies has suggested the rising prevalence of musculoskeletal pain ranges from 65% to 85% in older adults and around 36% to 70% suffering from back pain.
Technological Advancement to fuel market growth
Technological advancement in minimally invasive spine technologies has given positive impact on market growth. Advancement such as endoscope-assisted spinal surgery has offered innovative application of laparoscope for minimally invasive procedure and has become the important part of diagnostic procedure. Two and three-dimensional imaging system for navigation and employment of robotics technology in spine surgery has fueled the demand for Minimally Invasive Spine Technologies market growth.
Restrains:
However, lack of skilled professional and expensive equipment has hampered the demand for Minimally Invasive Spine Technologies market growth.
Minimally Invasive Spine Technologies Market Segmentation
Minimally Invasive Spine Technologies Market Segmentation:
Minimally Invasive Spine Technologies Market is segmented based on Condition Type, End-Users and Region.
Condition Type Insight
On the basis of Condition Type, Minimally Invasive Spine Technologies Market is segmented into Spinal Tumor, Spinal Infection, Herniated Disc, Degenerative Disc Disease, Spinal Stenosis and Spinal Deformity. Degenerative Disc Disease condition is expected to dominate the target market growth as it has become more common disease condition in adults.
End-Users Insights
On the basis of End-Users, Minimally Invasive Spine Technologies Market is segmented into Hospitals, Orthopedic Clinics, Ambulatory Surgery Centers, and Others. Hospitals end-users segment is expected to dominate the target market growth because it deals with complete diagnosis and treatment by providing all facilities under one roof.
Minimally Invasive Spine Technologies Market Regional Insights:
On region the Minimally Invasive Spine Technologies Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America market is estimated to witness a significantly high revenue share over the forecast period due to rising prevalence of spinal disorder, continuous technological development and adoption of minimally invasive procedures. For instance, according to PubMed Central, approx. 900,000 American adults undergo spine surgery per year.
Asia Pacific market is estimated to witness a fastest revenue share over the forecast period due to growing population, increased obesity and accidental fall cases. For instance, in 2012, according to PubMed Central, traumatic spinal cord injury incidence rate ranges from 12.06 to 61.6 per million. Men are at higher risk due to motor vehicle collisions and accidental falls which is further anticipated to increase demand for Minimally Invasive Spine Technologies in the region.
Report Scope:
Attribute |
Details |
Base year for estimation |
2023 |
Forecast period |
2024 – 2034 |
Market representation |
Revenue in USD Billion & CAGR from 2024 to 2034 |
Market Segmentation |
By Condition Type - Spinal Tumor, Spinal Infection, Herniated Disc, Degenerative Disc Disease, Spinal Stenosis and Spinal Deformity By End-Users - Hospitals, Orthopedic Clinics, Ambulatory Surgery Centers, and Others |
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034
Few Other Promising Reports:
Minimally Invasive Spine Technologies Market Key Players
The key players operating the Minimally Invasive Spine Technologies Market includes, AMS Group, Johnson & Johnson, Alphatec Holdings Inc., Medtronic plc., Aurora Spine Inc., Boston Scientific Corporation, B. Braun SE, Globus Medical Inc., ORTHOFIX MEDICAL INC., NuVasive Inc., and Others.
Recent Development:
The New Launched Product News,
- In September 2021, Medtronic plc., expanded its minimally invasive spine surgery ecosystem with launch of next-generation spinal technologies to combine robotics, navigation, spinal implants, biologics and artificial intelligence (AI) data to patients and surgeons. The new launched portfolio are: Space-D Access System to enable all-in-one access for surgeons, Catalyft PL and PL40, AND Accelerate Graft Delivery System with Grafton DBF.
Strategic Acquisitions and Partnership News,
- In 2023, Alphatec Holdings Inc., (ATEC’s) acquired Navigation-enabled Robotics platform a REMI (Robotic-Enabled Minimally Invasive) system from Fusion Robotics, LLC., a medical technology company for $55 million of purchase. This acquisition has added all assets of Fusion Robotics to ATEC’s.
Minimally Invasive Spine Technologies Market Company Profile
- AMS Group
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Johnson & Johnson
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Alphatec Holdings Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Medtronic plc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Aurora Spine Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Boston Scientific Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- B. Braun SE
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Globus Medical Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- ORTHOFIX MEDICAL INC.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- NuVasive Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
Minimally Invasive Spine Technologies Market Highlights
FAQs
The Minimally Invasive Spine Technologies Market is segmented into Condition Type, End-Users and Region.
Minimally Invasive Spine Technologies Market is driven by factors like growing geriatric population and technological advancement.
By region, the Minimally Invasive Spine Technologies Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period.
The key players operating the Minimally Invasive Spine Technologies Market includes, AMS Group, Johnson & Johnson, Alphatec Holdings Inc., Medtronic plc., Aurora Spine Inc., Boston Scientific Corporation, B. Braun SE, Globus Medical Inc., ORTHOFIX MEDICAL INC., NuVasive Inc., and Others.
Minimally Invasive Spine Technologies Market was valued at US$ 4.3 Billion in 2024 and is projected to grow at a CAGR of 10.40% to reach US$ 11.6 Billion by 2034.