Minimally Invasive Surgery Instruments Market: Summary
The Global Minimally Invasive Surgery Instruments Market is projected to reach a value of over USD 40.8 billion by 2027 at a CAGR of 8.8% within the study period
Minimally invasive surgery abbreviated as the MIS is the surgical procedure used for optimizing the surgical outcome through a very minor or small incision. Due to a limited number of smaller cuts, minimally invasive surgery results in reduced pain & trauma, lesser hospital stays, and rapid patient recovery. The market is growing on the grounds of increasing demand for minimally invasive surgery owing to its advantages over the conventional surgical procedures. Also, the more efficient outcome associated with MIS along with the growing geriatric population across the globe, further fuels the market growth. On the flip side, the high cost of the minimally invasive instruments in combination with huge capital investment for robotic surgery hamper the market growth adversely.
Minimally Invasive Surgery Instruments Market: Market Dynamics
• Growing Adoption of Minimally Invasive Surgery
o Minimally invasive surgery has excellent benefit associated with the surgical procedures such as less incision, shorter hospital stays, rapid recovery rate, reduction in surgical complication, and better outcome among others
o The demand for minimally invasive surgeries in the past decade has gained more importance in the cardiovascular, thoracic, cosmetic, gynecological, and many other surgeries
o As per the data shared by the American Society Of Plastic Surgeons, in 2019, around 16.3 million cosmetic minimally invasive surgeries were performed in United States, representing a rise of 2% from the previous years (15.9 million)
o Due to this, the demand for minimally invasive surgery is increasing, which is boosting the market growth
• Efficient Clinical Outcome of Minimally Invasive Surgery
• The rise in the Geriatric Population
• High Cost of MIS Equipment
o The overall cost of the minimally invasive surgeries gets higher owing to the higher price of the equipment
o The cost of the equipment increases due to the use of higher quality cameras and other specialized equipment for precision and better outcomes
o Maintenance of this equipment is also expensive, which further pileup the cost
o Different studies revealed that the cost of the laparoscopy is 7.8% higher when compared to the open procedure surgeries
o With technological advancement and more adoption of robotic-assisted surgeries escalated the cost much higher. For instance, average robotic-assisted surgery costs are USD 2678 higher than the laparoscopic surgery
o Due to the higher cost of the equipment, the growth of the minimally invasive surgeries market is impacted adversely
• Limited Reimbursement for Surgical Products
• High Initial Set-Up and Recurrent Cost of Robotic Surgery
Minimally Invasive Surgery Instruments Market: Key Segments
The minimally invasive surgery instruments market is majorly segmented into type, product, surgery, and end-user
• Based on type, the market is bifurcated into reusable minimally invasive instruments and non-reusable minimally invasive instruments
• Based on product, the market is sub-segmented into handheld instruments, inflation devices, cutter instruments, guiding devices, electrosurgical devices, auxiliary devices, and others. handheld instruments are further segmented into scalpels, forceps, retractor, dilators, graspers, and others. inflation devices is further segmented into analogue inflation devices and digital inflation devices. the guiding devices are categorized into guiding catheters, probes, and others
• Based on surgery, the market has been segmented into cosmetic surgery, cardiovascular surgery, gastrointestinal surgery, gynecological surgery, orthopedic surgery, urological surgery, and others. Among these, cardiovascular surgery accounted for the highest market share and has dominated the surgery segment owing to a rise in heart diseases, an outcome of changing lifestyle and dietary habits.
• Based on end-user, the market has been segmented into hospitals & clinics and ambulatory surgical centers
Minimally Invasive Surgery Instruments Market: Key Regions
Based on the region, the market is divided into Americas, Europe, Asia Pacific, Latin America, Middle East & Africa. Among the Americas, North America accounted for the major market share owing to the high adoption of the technologically advanced equipment, growth in the health expenditure with boosting healthcare infrastructure for performing minimally invasive surgeries. Whereas, the Asia Pacific is emerged as the fastest-growing region for the minimally invasive surgeries market owing to a growing patient pool with a rising count of the elderly population demanding rapid recovery with higher surgical outcomes.
Minimally Invasive Surgery Instruments Market: Report Scope
The report on the minimally invasive surgery instruments market covers a deep dive analysis of historic, recent, and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered, and the entire supply chain dynamics are covered through the below segmentation.
Report Features Specifics
Historical/Estimated/Forecasted Market Size Years 2019-2027
Historical Year 2018
Base Year 2019
Forecasted Period 2020-2027 (2020 estimated year, forecast up to 2027)
Measured Units Value (USD Million)
Segments Included Type, Product, Surgery and End-User
Regional Coverage Americas, Asia-Pacific, Europe, Middle East & Africa
Key Companies Covered
• B. Braun Melsungen AG (Company Overview, Financial Overview, Product Synopsis, Key Developments, SWOT Analysis, & Key Strategy)
• Boston Scientific Corporation
• CONMED Corporation.
• HOYA Corporation
• Intuitive Surgical
• Johnson & Johnson Services, Inc.
• Siemens Healthcare GmbH
• Zimmer Biomet
• Other Key Companies
Minimally Invasive Surgery Instruments Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Minimally Invasive Surgery Instrument Market, by Type
• Reusable Minimally Invasive Instruments
• Non-reusable Minimally Invasive Instruments
Minimally Invasive Surgery Instrument Market, by Product
• Handheld Instruments
• Inflation Devices
o Analogue Inflation Devices
o Digital Inflation Devices
• Guiding Devices
o Guiding Catheters
• Electrosurgical Devices
• Auxiliary Devices
Minimally Invasive Surgery Instrument Market, by Surgery
• Cosmetic Surgery
• Cardiovascular Surgery
• Gastrointestinal Surgery
• Gynecological Surgery
• Orthopedic Surgery
• Urological Surgery
• Other Applications
Minimally Invasive Surgery Instrument Market, by End User
• Hospitals & Clinics
• Ambulatory Surgical Centers
Minimally Invasive Surgery Instruments Market, by Region
o North America
o Latin America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
• Middle East & Africa
o Middle East
Key Questions Answered By The Report
• What are the prominent developments affecting the market worldwide and its growth?
• What will be the impact of the developments in the market on the industry and on the market players in the future?
• What are the evolving variations of the market globally?
• What are the evolving functions of the market globally?
• What are the prominent aspects that will affect market growth globally during the study period?
• Who are the key players operating in the market across the globe?
• How are the key players leveraging in the present market scenario worldwide?
• Minimally Invasive Surgery Instruments Market Providers
• Minimally Invasive Surgery Instruments Market Solution and Services Suppliers, Distributors and Dealers
• End-Users of Minimally Invasive Surgery Instruments Market
• Government Bodies and Intellectual Institutions
• Associations and Industrial Organizations
• Research & Consulting Service Providers
• Research & Development Organizations
• Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE MINIMALLY INVASIVE SURGERY INSTRUMENTS MARKET STUDY