The global minimally invasive spine surgery market was valued at around $3 billion in 2015 and is expected to surpass $4 billion by 2020, says Technavio.
Technavio has announced its latest market research report on minimally invasive spine surgeries for the forecast period, 2016-2020. This market analysis, under the orthopedics and general medical devices vertical, discusses the major drivers and key emerging trends that will influence the growth of the global minimally invasive spine surgery market during the forecast period. Some of the top vendors listed in this industry analysis include DePuy Synthes, Medtronic, NuVasive, Stryker, and Zimmer-Biomet.
In terms of geographical analysis, the Americas will account for the largest share of the global market and is expected to account for a revenue of more than $3 billion by 2020. The US is expected to emerge as the key revenue-generators.
“Robot-assisted surgeries allow physicians to perform safe, less invasive surgical procedures. These surgeries involve the use of robotic arms controlled by surgeons. In an alternative approach, surgeons themselves can perform the surgery by visualizing the fractured spine on a 3D imager. Surgeons use computers and image-guided systems to develop 3D images of the spine. Robot-assisted surgeries also allow surgeons to implant small screws, such as pedicle screws and hooks,” says Barath Palada, a lead analyst at Technavio for orthopedics and general medical devices.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Rising popularity of physician-owned ASCs
MI procedures reduce the risk of infections, the need for blood transfusion, and the duration of the hospital stay. Some spine fusion surgeries such as the cervical fusion procedure can be performed in ASCs. Surgeons are already performing lumbar fusions, TLIFs, and anterior cervical discectomy procedures regularly in ASCs. In the US, the government is establishing many ASCs to offer better patient care at a low cost, which has led many people to go through spinal surgeries. The CDC estimated that since 2011, the number of people visiting ASCs increased by 25%.
Growing popularity of MI spinal surgeries
Traditional open surgeries can cause various post-operation complications, such as excessive pain, partially collapsed lungs, blood clots, fatigue, muscle atrophy, and infections. Most surgeons use MI spine surgery to treat the severe degeneration of the disc material in the spine by placing a bone graft, resulting in the generation of a new bone that bridges the vertebrae. The increased awareness of the potential benefits of robotic MI surgery among people and surgeons has compelled hospitals to opt for MI surgical equipment. Furthermore, these surgeries ensure improved outcomes, surgical precision, faster recovery periods, and reduced pain. The robotic technologies used to assist physicians with spine surgery such as Mazor Robotics Renaissance has gained popularity.
Increase in clinical evidence
In the US, clinical trials often require the submission of a claim for an investigational device exemption if the study involves a significant risk device. There is a growing demand in the healthcare community to publish enough clinical evidence to demonstrate the superiority of new technologies, such as TLIF and LLIF procedures, over traditional treatments. There is an ongoing clinical trial to evaluate the Aspen device compared with pedicle screw instrumentation for lateral lumbar interbody fusion. The increase in clinical evidence will raise awareness among people and surgeons about the clinical benefits of these technologies and encourage them to adopt these procedures.
Some of the other prominent vendors identified in this report are Aesculap Implant Systems, Alliance Spine, Alphatec Spine, Amedica, AOI Medical, Apollo Spine, Aurora Spine, Centinel Spine, ChoiceSpine, Cook Medical, Crosstrees Medical, Globus Medical, GS Medical USA, Intelligent Implant Systems, K2M, LDR Holdings, Life Spine, LinkSPINE, MEDICREA, NuTech Medical, Orthofix, Paradigm Spine, Precision Spine, Reliance Medical Systems, RTI Surgical, Safe Orthopaedics, SI-BONE, Smith & Nephew, Spinal Elements, SpineGuard, Spineology, ThompsonMIS, Titan Spine, TranS1, Vexim, TI, Zavation, and Zyga Technology.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Minimally Invasive Spine Surgery Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Lumbar Spine Fusion Market 2016-2020
- Global Spinal Implants Market 2016-2020
- Spine Implants Market in the US 2016-2020
- Global Spine Biologics Market 2016-2020
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