LOS ANGELES , Nov. 03, 2022 (GLOBE NEWSWIRE) -- The Global Minimally Invasive Surgical Instruments Market Size accounted for USD 26,486 Million in 2021 and is estimated to achieve a market size of USD 59,249 Million by 2030 growing at a CAGR of 9.6% from 2022 to 2030.
Minimally Invasive Surgical Instruments Market Statistics
- Global minimally invasive surgical instruments market value was USD 26,486 Million in 2021 and expected to grow at CAGR of 9.6% from 2022 to 2030
- According to estimates, 310 million significant procedures are performed worldwide each year, with the United States accounting for 40 to 50 million and Europe accounting for 20 million
- North America minimally invasive surgical instruments market revenue grabbed 42% market share in 2021
- Asia-Pacific minimally invasive surgical instruments market growth will register significant CAGR of from 2022 to 2030
- Among application, advanced dressing segment acquired over 24% of the overall market share in 2021
- Significant growth in medical tourism is a global minimally invasive surgical instruments market trend fueling the industry demand
Minimally Invasive Surgical Instruments Market Growth Factors
- Rising incidence of chronic diseases
- Increasing elderly population
- Increasing demand for minimally invasive medical procedures
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Minimally Invasive Surgical Instruments Market Report Coverage:
| Market | Minimally Invasive Surgical Instruments Market | |
| Minimally Invasive Surgical Instruments Market Size 2021 | USD 26,486 Million | |
| Minimally Invasive Surgical Instruments Market Forecast 2030 | USD 59,249 Million | |
| Minimally Invasive Surgical Instruments Market CAGR During 2022 - 2030 | 9.6% | |
| Minimally Invasive Surgical Instruments Market Analysis Period | 2018 - 2030 | |
| Minimally Invasive Surgical Instruments Market Base Year | 2021 | |
| Minimally Invasive Surgical Instruments Market Forecast Data | 2022 - 2030 | |
| Segments Covered | By Device, By Application, By End-User, And By Geography | |
| Minimally Invasive Surgical Instruments Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | GE Healthcare, Medtronic, Stryker, Smith & Nephew, Abbott, NuVasive, Inc., CONMED, Zimmer Biomet, Siemens, and Intuitive Surgical. | |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Minimally Invasive Surgical Instruments Market Dynamics
Minimally invasive surgical (MIS) techniques are becoming more popular because they are less traumatic and promote faster recovery than traditional open medical procedures or surgeries.
During traditional open surgeries, minimally invasive innovations are intended to reduce scarring, trauma, blood loss, and infection risks. After these surgeries, patients can resume their normal daily activities in less time. Furthermore, the costs associated with inconspicuous medical procedures are not exactly inconspicuous and routine surgeries. As a result, MIS techniques become beneficial to both patients and payers. The advantages of MIS in various fields of orthopedics have contributed to the growing interest in less traumatic options with minimal bone tissue disruption.
The demand for outpatient medical procedures is likely to increase dramatically in the coming years. The rise in ambulatory surgical centre scan can be attributed to a number of factors, including an increase in minimally invasive procedures, advancements in the field of anaesthesia, improved patient experiences, authoritative changes, and financial weights. To encourage beneficiaries to use these facilities, Medicare delayed the Part B deductible.
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Minimally Invasive Surgical Instruments Market Segmentation
The global market for minimally invasive surgical instruments is divided into devices, end-users, applications, and regions. Handheld instruments, inflation devices, cutter instruments, guiding devices, electrosurgical devices, auxiliary devices, and monitoring & visualization devices comprise the global minimally invasive surgical instruments market. The global minimally invasive surgical instruments market is divided into hospitals & clinics and ambulatory surgical centers based on end-user.
The global minimally invasive surgical instruments market is classified into cardiac, gastrointestinal, orthopedic, vascular, gynecological, urological, thoracic, cosmetic, dental, and other applications. The global minimally invasive surgical instruments market is divided into Latin America, Europe, Asia Pacific, North America, and the Middle East and Africa.
Minimally Invasive Surgical Instruments Market Share
The hospital segment held a larger part of the share of the overall industry as far as income in 2021. Then again, ambulatory surgical centers are required to witness the quickest CAGR over the gauge time frame from 2022 to 2030. Currently, more than 5,500 Medicare certified ambulatory surgical centers are available in U.S. They offer medical procedures at lower costs and more noteworthy adaptability of booking when contrasted with doctor's facilities.
Minimally Invasive Surgical Instruments Market Regional Growth
North America developed as the dominant regional segment in 2021 because of the high rate of accidental wounds and rising geriatric populace. As indicated by a report distributed by the Organization for Economic Co-activity and Development (OECD), per capita human services use in U.S. is higher than the various nations on the planet. Likewise, patients in U.S. have a capacity to pick strategies for treatment and additionally the suppliers. This is probably going to positively affect provincial market development.
Then again, Asia Pacific is required to be the quickest developing district over the forecast period from 2022 to 2030. The rising geriatric populace in Japan and China, street crashes, and creating economy are required to advance the rise of MIS techniques in Asia-Pacific. The local interest for negligibly obtrusive methodology is to a great extent driven by rising restorative the medical tourism predominantly for corrective medical procedures or surgeries.
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Minimally Invasive Surgical Instruments Market Players
Partnerships, new product launches, and acquisitions are examples of significant strategic initiatives undertaken by global businesses. Medtronic was the market leader in terms of market presence in 2017. Medtronic provides a wide range of MIS solutions for coronary artery disease. Furthermore, the company has created a spinal surgery system and a stabilization system based on minimally invasive surgical instruments (MIS) techniques. Intuitive Surgical, Inc., another established market participant, delivers the daVinci surgical system. This system proved to be innovative and significant in the field of minimally invasive surgical instruments. As an early entrant in the market for minimally invasive surgical instruments, the company has a progressive research and development and sales team. New scientific discoveries, primarily surgical robots, are expected to fuel the demand for minimally invasive procedures. Medtronic, Stryker, Smith & Nephew, Abbott, NuVasive, Inc., CONMED, Zimmer Biomet, and Intuitive Surgical are the key players in the global minimally invasive surgical instruments market.
Questions Answered By This Report
- What was the market size of Minimally Invasive Surgical Instruments Market in 2021?
- What will be the CAGR of Minimally Invasive Surgical Instruments Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Minimally Invasive Surgical Instruments Market?
- Which region held the largest share in Minimally Invasive Surgical Instruments Market in 2021?
- What are the key market drivers of Minimally Invasive Surgical Instruments Market?
- Who is the largest end user Minimally Invasive Surgical Instruments Market?
- What will be the Minimally Invasive Surgical Instruments Market value in 2030?
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