Report Code : A16968
Rise in adoption of minimally invasive procedures, rising number of key players, and technological advancement in endoscopy products drive the market growth, and increasing number of spinal surgeries which are expected to notably contribute toward the growth of the global unilateral biportal endoscopy market during the forecast period.
Onkar Sumant - Manager
Life Sciences at Allied Market Research
According to a new report published by Allied Market Research, titled, “Unilateral biportal endoscopy Market," The unilateral biportal endoscopy market size was $295.31 million in 2021, and is estimated to reach $548.43 million by 2031, growing at a CAGR of 6.4% from 2022 to 2031. The unilateral biportal endoscopic spine surgery is a procedure carried out through two discrete little surgical incisions on either side of the spinous process. The surgeon can do extremely accurate decompression in a clear and magnified surgical area using continuous high-pressure normal saline irrigation and a high-definition arthroscope. The unilateral biportal endoscopic approach has the benefit of allowing for a clear view of the contralateral sublaminar foraminal region without the need for a second incision. Muscle dissection is also diminished. Continuous saline irrigation results in minimal intraoperative bleeding, clear visibility, and a low risk of infection. But to carry out this procedure, the surgeon must master the triangulation idea and navigate a challenging learning curve. Excessive saline irrigation following surgery can result in meningeal irritation.
The key factors that drive the growth of the global unilateral biportal endoscopy market growth are technological advancement and rise in adoption of minimal invasive procedures. In addition, surge in geriatric population and increase in government expenditure on healthcare further boost the market growth. However, shortage of trained physician and endoscopists are likely to hamper the growth of the unilateral biportal endoscopy market during the forecast period. Conversely, developments in healthcare sector in developing economies are expected to provide numerous opportunities for market growth during the forecast period.
The global unilateral biportal endoscopy market is segmented on the basis of product type, indication, end user, and region. By product type, the market is bifurcated into endoscope and accessory devices. By indication the market is classified into herniated discs, spinal stenosis and others. The others segment is further segmented into scoliosis, degenerative disc disease. By end user, the market is fragmented into hospitals and ambulatory surgical centers. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By product type, the endoscope segment dominated the market in 2021 and is expected to remain dominant during the forecast period, owing to increase in the demand for minimally invasive surgical procedures, rapidly advancing endoscopy technology, and increase in the prevalence of diseases like diabetes, cancer, and obesity around the world. The accessory segment is expected to be the fastest growing segment due to increasing use of accessories in various surgical procedures.
By indication, the herniated discs segment dominated market in 2021 and is expected to remain dominant during the forecast period, owing to surge in chronic problems in the lumbar region. Moreover, spinal stenosis segment is set to be the fastest growing segment with a CAGR of 7.2%.
By end user, the hospitals segment dominated market in 2021 and is expected to remain dominant during the forecast period, owing to the need for spinal endoscopic operations as a result of spinal deformity and future developments in robotic surgery and visually sophisticated endoscopic procedures that require trained professionals to operate with. Additionally, the ambulatory surgical centers segment is anticipated to be the fastest growing segment due to increasing number of healthcare professionally-owned ambulatory care settings to cater to the rising demand for minimally invasive surgeries.
Region wise, North America had the highest market share in 2021. Increase in spinal surgery and surge in treatment rate due to the presence of developed healthcare technology, rise in healthcare expenditure by the government, and huge disposable income in the region drives the growth of the market in the region. In U.S. favorable reimbursement policies for endoscopic procedures, the prevalence of cancer, hospitals' high investments in new endoscopic equipment, their intense focus on research activities to advance endoscopy techniques, and Canadian hospitals' adoption of a new funding model are all factors that contribute to North America holding the largest share of the global market. However, the Asia-Pacific market is estimated to show significant CAGR of 8.0%. The presence of a large population base, increase in per capita income, and rise in medical tourism industry are unilateral biportal endoscopy market trends in the region.
Key players that operate in the global UBE market are CONMED Corporation, Endovision Co. Ltd., Jiangsu Bonss Medical Technology Co. Ltd., Joimax GmbH, Karl Storz, Maxmorespine, Maxer Endoscopy GmbH, Richard Wolf, Smith & Nephew and Stryker Corporation.
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Unilateral Biportal Endoscopy Market by Product Type (Endoscope, Accessory Devices), by Indication (Herniated Discs, Spinal Stenosis, Others), by End User (Hospitals, Ambulatory Surgical Centers): Global Opportunity Analysis and Industry Forecast, 2021-2031
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