Endoscopic Spinal Surgery Market is expected to exhibit a CAGR of over 8% through the forecast period (2021 - 2031) : P&S Persistence

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Jul 16, 2021, 07:30 ET

NEW YORK, July 16, 2021 /PRNewswire/ -- The global endoscopic spinal surgery market size 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.

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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.

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"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.

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.

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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.

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