Endoscopic Spinal Surgery Market Expected to Reach $1.1 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Endoscopic Spinal Surgery Market," The endoscopic spinal surgery market size was valued at $536.90 million in 2021, and is estimated to reach $1,096.31 million by 2031, growing at a CAGR of 7.4% from 2022 to 2031.

Endoscopic spinal surgery is a minimally invasive procedure that makes it easier for surgeons to perform complex surgeries with less efforts and obstacles. This complexity of spinal surgery can provide major challenges for surgeons, such as possibility of implanting a screw in incorrect location, which could result in paralysis or less effective surgery. However, use of endoscope in spine surgery have decreased the possibility of surgical errors and thereby improved surgical precision. Furthermore, endoscopic spinal surgery can be used to treat cervical, thoracic, and lumbar spines associated abnormalities, and offers several advantages over other traditional surgeries such as less tissue dissection and muscle trauma, less blood loss, and less disruption of epidural blood supply, which prevents epidural fibrosis and scarring, reduced hospital stay, early functional recovery, improvement in quality of life, and improved clinical results.

One of the major endoscopic spinal surgery market trends is surge in geriatric population across the globe suffering from spinal diseases and a subsequent increase in demand for endoscopes and other related instruments and equipment, which propels growth of the market.

In addition, technological advancements in the field of surgery also drive the endoscopic spinal surgery market growth. For instance, nowadays, to get HD optimization of endoscopic images during spinal endoscopy, light generation and transmission techniques are used. For instance, Xenon light sources with 300 watts or LED and laser light technology are adopted to get full HD image of internal organs of patients.

In addition, development of micro endoscopic spine surgery is also an advance technique, which offers pain-free operation, minimum postoperative pain, and proves to be an easy way to get rid of back pain. In addition, India have proved to be the micro endoscopic spine surgery hub, hence attracting patients from around the globe. Furthermore, this system offers advantage of being combined with paperless electronic health records (EHR), which leads to increase in their demand and propels the market growth.

Moreover, according to the World Health Organization, every year lives of approximately 1.3 million people are cut short as a result of a road traffic crash and between 20 and 50 million more people suffer non-fatal injuries, with many incurring a disability as a result of their injury. Thus, higher incidences of spinal injury cases, owing to accidents propels demand for endoscopic spinal surgery and further propels growth of the market.

The endoscopic spinal surgery market is segmented on the basis of product type, procedure type end user, and region. By product type, the market is segmented into endoscope and endoscopic devices. The endoscopic devices segment dominated the market in 2021, owing to rise in demand for endoscopic spinal surgery around the globe. In addition, new device launches and approvals by key market players contribute toward increase in sales of this segment.

By procedure type, the market is segmented into transforaminal endoscopic procedures, interlaminar endoscopic procedures, endoscopic posterior foraminotomy & cervical discectomy, and endoscopic visualized rhizotomy. The transforaminal endoscopic procedures segment dominated the market in 2021, owing to rise in cases of disc herniation of lumbar and lower thoracic spine and adoption of transforaminal endoscopic procedures for their treatment.

Based on end user, the endoscopic spinal surgery market is categorized into hospitals and clinics and ambulatory surgical centers. The hospitals and clinics segment accounted for the largest share in the market, owing to adoption of well-equipped & advanced surgical devices in hospitals, rising cases of road accidents & emergency hospitalizations, and surge in patient visits to hospitals and clinics in emerging countries post pandemic. However, the ambulatory surgical centers segment is expected to grow with the fastest CAGR during the forecast period.

Region wise, the endoscopic spinal surgery industry is studied across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for major share of the endoscopic spinal surgery market share in 2021, owing to presence of key players, rise in government initiatives, well-developed healthcare infrastructure, and higher prevalence of spinal stenosis and herniated discs. However, Asia-Pacific is expected to witness highest growth rate for the endoscopic spinal surgery market throughout the forecast period, owing to investments by public and private market players in this field, increase in medical tourism, and abundance of raw material in this region.

KEY FINDINGS OF THE STUDY

• On the basis of product type, the endoscopic devices segment held the largest market share in 2021, whereas the endoscopes segment is expected to remain dominant during the forecast period.
• On the basis of procedure type, the transforaminal endoscopic procedures segment held the largest market share in 2021, whereas the interlaminar endoscopic procedures segment is expected to remain dominant during the forecast period.
• On the basis of end user, the hospitals and clinics segment held largest market share in 2021, whereas the ambulatory surgical centers segment is expected to grow at the fastest CAGR rate during the forecast period.
• Region wise, North America held the largest share of the endoscopic spinal surgery market in the year 2021, whereas the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.