Endoscopic Spinal Surgery Market

Global Market Study on Endoscopic Spinal Surgery: Hospitals to Remain Largest End User through 2031

  • July-2021
  • PMRREP19993
  • 388 Pages
  • Healthcare
  • PPT, PDF, WORD, EXCEL

Market Snapshot

Newly released industry analysis by Persistence Market Research shows that global demand for endoscopic spinal surgery enjoyed year-on-year (YoY) growth of 7.5% in 2021. Demand for HD camera systems is projected to surge at a CAGR of 9% through 2031. At present, endoscopy devices account for the highest market share of 67%.

Find Out More about the Report Coverage

Companies

  • DePuySynthes Spine, Inc. (Johnson & Johnson)Overview
  • Medtronic PLC.
  • MedicalTek Co., Ltd.
  • SchöllyFiberoptic GmbH
  • Stryker Corporation
  • Zimmer Biomet Holdings, Inc.
  • Richard Wolf (RIWOSpine)
  • Joimax GmbH
  • Aesculap Implant Systems
  • Olympus Corporation
  • Karl Storz
  • Globus Medical, Inc

Detailed Insights Offered in Endoscopic Spinal Surgery Industry Survey:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Endoscopic Spinal Surgery Demand and How to Navigate
  • Recommendation on Key Winning Strategies

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Demand Analysis of Endoscopic Spinal Surgery from 2016 to 2020 Vs Market Outlook for 2021 to 2031

Market growth in terms of CAGR from 2016 to 2020 for endoscopic spinal surgeries was observed as 6.2%, wherein, endoscopic devices had the highest market share as the product segment of 67.2% in 2020.

A large number of people suffering from spinal injuries creates demand for spinal surgeries in healthcare settings. With the emergence of 2D and 3D technology, manufacturers are focusing on technological advancements in the field of surgical methods and devices. Key market players are using collaborative approaches for the distribution and manufacturing of these products through various channels.

According to the World Health Organizations, every year, approximately 500,000 people suffer spinal cord injury (SCI) globally, and the main reason behind this is road accidents and violence.

Over the forecast period of 2021-2031, the market is expected to expand at more than 8% CAGR.

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What are the Key Opportunities for Endoscopic Spinal Surgery Device Manufacturers?

Huge patient pool of spinal injuries favors the growth potential of endoscopy. Further, adoption of innovative technologies and launch of new products for surgeries will give a significant opportunity for manufacturers to grow in this market.

Increasing spending on healthcare infrastructure will attract manufacturers to provide requirements and specifications to establish surgical facilities to evaluate various applications, and, in turn, will create potential opportunities for endoscopic spinal surgery device suppliers.

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What is the Main Restraining Factor for Suppliers of Endoscopic Spinal Surgery Devices?

Increasing chances of infection transmission resulting from endoscopy and stringent government regulations are expected to hamper demand for endoscopic spinal surgery. Reprocessing of endoscopes can be done only by skilled medical professionals, which increases the cost. If not followed, it can lead to a hazardous health impact. These factors will pose a challenge to the growth of this market.

How Will Rising Aging Population and Lifestyle Changes Create Opportunities for Endoscopic Spinal Surgery Device Manufacturers?

The aging population is at higher risk of spinal injuries as compared to the younger population. These spinal fractures occur in nearly 500,000 patients each year, according to WHO, and most of these injuries occur in patients 65 years or older.

According to WHO, the world population above age of 60 is projected to reach 2 billion by 2050, which was 900 million in 2015, thereby complementing market growth.

Country-wise Insights

What Makes the U.S. a Large Market for Market Players Related to Endoscopic Spinal Surgery?

The U.S. dominates the region of North America with a total market share of 91%, and is projected to experience high growth over the coming years.

Traumatic injuries to the spinal cord have resulted in disability, morbidity, and even death in the geriatric population. Older people are at higher risk because of occurrence of diseases like spinal stenosis and degenerative disc disease. According to the U.S. Census Bureau, more than 54 million people belonged to the 65 and above age group in the U.S in 2019.

Also, changes in lifestyle such as increasing desk jobs lead to spinal cord injuries that are propelling demand for endoscopic spinal surgery in the country.

What is the Market Scenario of Endoscopic Spinal Surgery in Germany?

Germany leads the European market and will continue to exhibit high growth of 19.3%. The factor contributing to this growth is high number of people with spinal injury and rising geriatric population.

According to WHO, in Germany, lifetime prevalence of any fracture was found to be around 45% for men and 31% for women within the age range of 25-74 years; and 42% for men and 40% for women within the age range of 65-74 years.

According to WHO, 18.09 million people belong to the age group of 65 and above in Germany in 2019.

How Lucrative is the Russia Market for Endoscopic Spinal Surgery?

Russia holds a significant position in the region of Europe, with a market value of US$ 30 Mn in 2021.

This is mainly due to advancements in the technology in the field of healthcare. Innovative techniques used in medical systems in Russia are propelling demand for endoscopic spinal surgery in the country.

Why is China an Emerging Market for Endoscopic Spinal Surgery?

China dominates the East Asia market with a 59.4% share in 2021, and is expected to rise at a CAGR of 7.8% through 2031.

Road accidents are the main reason for spinal injuries. According to a study, in 2018, there were approximately 258,532 injuries due to road accidents.

Most of these injuries were spinal cord injuries (SCI),which have become the main cause of rising need for endoscopic spinal surgery in China.

Increasing older adult population also leads to more cases of spinal injuries. According to WHO, 176 million people belonged to the age group of 65 and above in China in the year 2019.

This huge number of road accident injuries and high geriatric population bring a tremendous cost burden to the country.

What is the Outline of the Endoscopic Spinal Surgery Market in India?

India dominates the South Asia market with a current market share of 63.3%,and is projected to progress at a CAGR of 8.5%. Rising spending on healthcare is expected to boost the market for endoscopic spinal surgery in India.

India has a population of approximately 100 million in the age 50 years or more. Lifestyle of the Indian population is changing, such as eating habits and increasing desk jobs, which lead to spinal injury at a very young age. According to a study published in the Nature Journal, 79% spinal injuries in India were among the rural population, which is one of the largest groups in the country’s population.

Category-wise Insights

Why is Demand for Endoscopic Devices Higher?

Endoscopic devices accounted for the largest market share of 67.2% in 2020,as it is used for spinal injury surgeries. Minimally invasive medical devices are in highest demand because of ease of use, less painful procedure, and fast recovery.

Also, effective distribution has helped the segment grow at a significant pace.

Why Do Hospitals Witness Higher Demand for Endoscopic Spinal Surgery Devices?

Hospital holds a significant market share of 46.9% due to higher installation and demand for minimally invasive spinal surgeries by patients at hospitals. In 2020, revenue from hospitals was US$ 269.1 Mn, which was highest among all end users.

How Has COVID-19 Impacted Demand for Endoscopic Spinal Surgery?

The World Health Organization (WHO) announced COVID-19 as a world health emergency in January 2020. The pandemic crisis is challenging governments to implement fiscal policies and monetary measures that sustain economic activity and support credit markets.

The healthcare budget across COVID-19-affected countries has increased significantly, with most funds being directed toward COVID-19 care. This has largely affected the medical device industry. Due to lockdowns and shortages of manpower, research and development activities significantly decreased all over the world.

As hospitals and clinics are more focused on treating COVID-19-infected patients, there has been a decline in patient footfall for spinal injury treatment.

Competitive Landscape

Key players are focusing on expansion in emerging countries and introducing features in their product line. Various manufacturers are spending on developing integrated software that can be included in cutting-edge technologies as an innovation in endoscopic spinal surgery.

Market players are also engaged in expanding their regional presence through acquisitions, collaborations, expansions, product launches, and improvement of distribution channels.

  • In November 2020, Medtronics completed the acquisition of Medicrea International, a pioneer company in the transformation of spinal surgery through artificial intelligence (AI), predictive modelling, and patient-specific implants.
  • In November 2018, MedicalTek Co., Ltd. launched a software-based MonoStereo 3D endoscope visualization system.

Endoscopic Spinal Surgery Market Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

  • USD Million for Value
  • Volume (Units)
  • Pricing Analysis

Key Region Covered

  • North America
  • Latin America
  • Europe
  • MEA
  • East Asia
  • South Asia
  • Oceania

Key Countries Covered

  • US
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Benelux
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Indonesia
  • Malaysia
  • Australia
  • New Zealand
  • South Africa
  • Turkey
  • GCC Countries

Key Market Segments Covered

  • Product
  • Procedure
  • Technology
  • End User
  • Region

Key Companies Profiled

  • Johnson & Johnson
  • Medtronic PLC.
  • MedicalTek Co., Ltd.
  • Schölly Fiberoptic GmbH
  • Stryker Corporation
  • Zimmer Biomet Holdings, Inc.
  • Joimax GmbH
  • Olympus Corporation

Report Coverage

  • Market Forecasts
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Segments Covered in Endoscopic Spinal Surgery Industry Research

Product Type

  • Endoscopes
  • Endoscopic Devices

Procedure Type

  • Transforaminal Endoscopic Procedures
  • Interlaminar Endoscopic Procedures
  • Endoscopic Posterior Foraminotomy And Cervical Discectomy
  • Endoscopic Visualized Rhizotomy

Technology

  • 2D Endoscopic Spinal Surgery Devices
  • 3D Endoscopic Spinal Surgery Devices

End Users

  • Endoscopic Spinal Surgery Devices at Hospitals
  • Endoscopic Spinal Surgery Devices at Ambulatory Surgical Centers
  • Endoscopic Spinal Surgery Devices at Specialty Spinal Clinics

FAQs Answered in Market Study

  • How much is the endoscopic spinal surgery market worth at present?

    The global endoscopic spinal surgery market is currently valued at US$ 616 Mn.

  • What is the demand outlook for endoscopic spinal surgery devices for the coming years?

    Demand for endoscopic spinal surgery is slated to increase at over 8% CAGR to be valued at close to US$ 1.4 Bn by 2031.

  • At what CAGR did this industry expand over the past 5 years?

    The global market for endoscopic spinal surgery surged at 6.2% CAGR from 2016 to 2020.

  • What is the share of the top 5 players in this market?

    Top 5 market players enjoy a market share of 74.2%.

  • Which are the top 5 countries driving demand for endoscopic spinal surgery?

    The U.S., Canada, Germany, Russia, and China are countries driving most of the demand for endoscopic spinal surgery.

  • What is the North America market outlook for the next ten years?

    The market is North America is projected to hold 1/3 of the global market share over the next ten years.

  • Which countries are key producers of endoscopic spinal surgery devices?

    Key endoscopic spinal surgery device producing countries are the U.S., Germany, and Ireland.

  • Which companies are key exporters of endoscopic spinal surgery devices?

    DePuy Synthes Spine, Inc., Medtronic PLC., MedicalTek Co., Ltd., Schölly Fiberoptic GmbH, and Stryker Corporation are major exporters of endoscopic spinal surgery devices.

  • What do market statistics for China and Japan reveal?

    By 2031, it is expected that China will hold 7.3%and Japan will enjoy 4.2% of the global market share.

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  • Is this research conducted by Persistence Market Research?

    Yes, the research has been conducted by expert analysts of Persistence Market Research, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

  • What research methodology is followed by Persistence Market Research?

    Persistence Market Research follows a methodology that encompasses demand-side assessment of the market and triangulates the same through supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

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  • What are the sources of secondary research?

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