Endoscopic Spinal Surgery Devices to Account for 2/3 Market Share: Persistence Market Research

Published On : Jul 12, 2021

The global endoscopic spinal surgery market was valued at US$ 573.6 Mn in 2020, and is expected to exhibit a CAGR of over 8% through the forecast period (2021 – 2031).

Rise in cases of spinal surgeries due to growing instances of road accidents has resulted in growth of the market, and an increasing geriatric population will further drive demand over the coming years. There are 1.62 Mn instrumented spinal procedures performed in the U.S. every year.

Also, demand for minimally invasive procedures has increased in the last few years. It is mainly due to less pain and fast recovery. Launch of innovative technologies in the healthcare sector will lead to market growth. A steady growth of investments in emerging economies and better reimbursement policies will attract manufacturers to expand their offering in developing regions.

Key Takeaways from Market Study

  • Endoscopic devices account over 67% market share, globally, as they are used for spinal injury surgeries.
  • In terms of end user, hospitals contribute to a large share in the market due to higher footfall of patients and number of surgical procedures.
  • The region of North America is dominant in the global market for endoscopic spinal surgery, and will continue to remain the most lucrative regional market over the forecast period.

“Endoscopic spinal surgery is witnessing growing demand in developed and emerging economies due to high prevalence of spinal injuries and increasing road accidents. Advanced technologies are attracting more end users in this space,” says an analyst of Persistence Market Research.

View Report Table of Contents, Figures, and Tables

Acquisitions and Collaborations- Strategy by Key Players

Key players in the endoscopic spinal surgery space use the strategy of acquisitions and collaborations to expand globally and reach more end users. Introduction of new features is being adopted inducing intense competition among market players.

  • In June 2019, Medtronics announced a partnership with KARL STORZ SE & Co. KG for its upcoming robotic-assisted surgical platform.

What Does the Report Cover?

Persistence Market Research offers a unique perspective and actionable insights on the endoscopic spinal surgery market in its latest study, presenting a historical demand assessment of 2016 – 2020 and projections for 2021 – 2031. The research study is based on product, procedure, technology, and end user, across seven key regions of the world.

For additional insights on how the growth of the endoscopic spinal surgery market will unfold over the next decade, write to the analystat media@persistencemarketresearch.com

Persistence Market Research’s Expertise in Life Sciences and Transformational Health

Our expert team of industry analysts comprising management graduates, medical professionals, engineers, and project managers provides insights on emerging therapy areas, diagnostic tools, medical devices and components, reimbursement and market access, biotechnology, and life science research products and services to equip decision-makers with sound inputs and strategic recommendations. Click here to learn more about how we zero in on the critical aspects of this industry.

Endoscopic Spinal Surgery Market

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

Endoscopic Spinal Surgery Market