Endoscopic Spinal Surgery Market: Growing Adoption of Minimally Invasive Spinal Surgeries to Drive the Market
Endoscopic Spinal Surgery Market: Overview
Endoscopic spinal surgery is a non-invasive procedure to perform complex spinal surgeries with the help of an endoscope. Endoscope is an instrument used by surgeon to view internal body parts. Endoscope spinal surgeries are quick and pain less as compared to the traditional spinal surgeries. The demand for endoscopic spinal surgery is increasing owing to its ability of less collateral tissue damage. This is expected to drive the global endoscopic spinal surgery market during the forecast period.
Endoscopic Spinal Surgery Market: Notable Developments
Some of the recent developments that may favor the endoscopic spinal surgery market are:
Ozop Surgical, a key manufacturer in the endoscopic spinal surgery market has adopted a latest technology called Balloon Lumbar Interbody Fusion (BLIF). It will allow the company to produce implant of any size, shape or dimensions. This is expected to offer a significant boost to the global endoscopic spinal surgery market.
In December 2018, Mazor Roboitcs merged with Medtronic, a market leader in spine implants, navigation, and intra-operative imaging technology. As per a company statement, both the companies are working to offer a fully-integrated procedural solution for surgical planning, and execution of endoscopic spinal surgery.
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Mazor Robotics, introduced a highly precise procedure for endoscopic spinal surgery with the combination of four key technologies. The name of these technologies are 3D analysis, advanced algorithms, patient connection platform, cross modality image registration. This is expected to increase accuracy of endoscopic spinal surgery.
Apart from above, some of the prominent players operating in the endoscopic spinal surgery market are Zimmer Biomet, Stryker Corporation, Depuy Synthes, Medtronic, and Globus Medical Inc.
Endoscopic Spinal Surgery Market: Key Growth Dynamics
The endoscopic spinal surgery market is likely to grow at a significant pace in the coming years. This is mainly because of the factors such as growing adoption of minimally invasive spinal surgeries, and increasing technological advancements in spinal surgery. Apart from this, rise in prevalence of obesity and degenerative spinal conditions across the globe are some of other factors expected to propel demand for the endoscopic spinal surgery market.
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Moreover, growing incidence of posture induced back pain, accidents, age related spinal degeneration, are some more factors expected to boost demand for the endoscopic spinal surgery.
On the flipside, delay in FDA product approvals and increasing case of medical device failures are the two major factors likely to hamper growth of the endoscopic spinal surgery market. Along with this, high costs of endoscopic spinal surgery is discouraging patients to opt for the endoscopic spinal surgery market. Moreover, lack of clinical trials are restricting novel therapeutics to be used for a large patient base.
Nevertheless, introduction of robot-assisted total knee replacement surgery is another factor likely to open new avenues for the growth of the endoscopic spinal surgery market. This is because robot-assisted total knee replacement surgery has a lower failure rate as compared to the traditional endoscopic spinal surgery market.
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Endoscopic Spinal Surgery Market: Regional Outlook
Among all the regions, North America is likely to dominate the global endoscopic spinal surgery market throughout the forecast period. This is due to factors such as rising geriatric population, favorable medical reimbursement plan, and developed healthcare infrastructure in the region. Along with this, presence of key players in the region also offers a substantial boost to the endoscopic spinal surgery market.
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