Europe Minimally Invasive Spine Technologies Market, By Product Type (Implants, Instruments, Software), Condition (Degenerative Disc Disease, Spinal Stenosis, Scoliosis, Spinal Infection, Others), End User (Hospitals, Clinics, Others) – Industry Trends and Forecast to 2031.
Europe Minimally Invasive Spine Technologies Market Analysis and Size
The market for minimally invasive spine technologies is influenced by various factors, including aging population, increasing obesity, and advancements in technology in both developed and developing countries. The market for has been experiencing steady growth due to the expanding availability and accessibility and the rise of non-invasive procedures worldwide.
Data Bridge Market Research analyses that the Europe minimally invasive spine technologies market, which was USD 743.6 million in 2023, expected to reach up to USD 1,894.39 million by 2031, and is expected to undergo a CAGR of 12.4% during the forecast period of 2024-2031. “Implant” dominates the product type segment of the market owing to the growing demand for spinal fusion procedures. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Countries Covered
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Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe.
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Segments Covered
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Product Type (Implants, Instruments, Software), Condition (Degenerative Disc Disease, Spinal Stenosis, Scoliosis, Spinal Infection, Others), End User (Hospitals, Clinics, Others)
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Market Players Covered
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Boston Scientific (U.S.), AMS Group (U.S.), Aurora Spine Inc. (U.S.), Globus Medical Inc. (U.S.), Medtronic (U.S.), Abbvie Inc. (U.S.), Stryker Corporation (U.S.), Braun SE (Germany) among others
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Market Opportunities
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Market Definition
Minimally invasive spine technologies (MIST) refer to a range of surgical techniques and technologies used to treat various spinal conditions with minimal disruption to surrounding tissues. These techniques aim to achieve the same surgical goals as traditional open spine surgery but with smaller incisions and less damage to muscles and other structures along the spine.
Minimally Invasive Spine Technologies Market Dynamics
Drivers
- Increase in Aging Population
One of the primary drivers of the minimally invasive spine technologies market is the aging population. Europe, such as many regions, has an aging population. As the prevalence of degenerative spine conditions increases with age, there is a growing need for spine surgeries. Minimally invasive techniques offer an attractive option for this demographic, further driving the adoption of related technologies.
- Rising Incidence of Spinal Disorders
The prevalence of spinal conditions such as degenerative disc disease, spinal stenosis, and herniated discs is increasing in Europe, primarily due to factors such as aging populations and sedentary lifestyles. This trend is driving demand for minimally invasive treatment options that offer faster recovery times and reduced risk compared to traditional open surgeries.
Opportunities
- Technological Advancements
Europe is home to numerous medical device companies and research institutions focused on developing innovative minimally invasive spine technologies. Advances in surgical instruments, imaging technology, navigation systems, and biomaterials are continuously improving the safety and efficacy of minimally invasive spine surgeries.
- Fast Adoption of Physician Training Provides an Opportunity
There is a growing emphasis on training surgeons in minimally invasive spine techniques across Europe. Surgeons who adopt these techniques can offer patients less invasive treatment options while potentially improving surgical outcomes. Companies that provide comprehensive training and support for physicians can capitalize on this trend. The faster adoption of such advanced technologies provides the opportunity.
Restraints/Challenges
- Regulatory Hurdles
While Europe has a well-established regulatory framework for medical devices, obtaining regulatory approval for new MIST technologies can be time-consuming and costly. In Europe, medical devices, including minimally invasive spinal technologies, must bear the CE marking, indicating compliance with the essential requirements of the European Medical Devices Directive (MDD) or the Medical Devices Regulation (MDR).
- Reimbursement Challenges
Reimbursement policies for minimally invasive spine surgeries vary across European countries and can be complex. Obtaining reimbursement for MIST procedures may require extensive documentation of clinical efficacy and cost-effectiveness, which can pose challenges for companies seeking to commercialize their technologies.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an analyst brief, our team will help you make an informed market decision to achieve market growth.
Recent Developments
- In May 2023, Globus Medical introduced the SYNCHRONY Cervical Disc Replacement System, which is designed to provide patients with a more excellent natural range of motion post-cervical disc replacement surgery
Minimally Invasive Spine Technologies Market Scope
The market is segmented into three notable segments based on product type, condition, end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Implants
- Instruments
- Software
Condition
- Degenerative Disc Disease
- Spinal Stenosis
- Scoliosis
- Spinal Infection
- Others
End User
- Hospitals
- Clinics
- Others
Europe Minimally Invasive Spine Technologies Market Regional Analysis/Insights
The market is analyzed and market size insights and trends are provided by country, product type, condition, end user as referenced above.
The countries involved in this report are Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, and Rest of Europe.
Germany dominates the market because of the increasing geriatric population, and technological advancements.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The market also provides you with a detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the market, the impact of technology using lifeline curves and their impact on the market. The data is available for historic period 2016-2021.
Competitive Landscape and Minimally Invasive Spine Technologies Market Share Analysis
The market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the market are:
- Boston Scientific (U.S.)
- AMS Group (U.S.)
- Aurora Spine Inc. (U.S.)
- Globus Medical Inc. (U.S.)
- Medtronic (U.S.)
- Abbvie Inc. (U.S.)
- Stryker Corporation (U.S.)
- Braun SE (Germany)
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