The Minimally Invasive Surgical Instruments Market is projected to grow at a rate of 9.4% in terms of value, from 2023 to reach USD 41.61 Billion by 2032. A minimally invasive medical surgery encompasses the technique of carrying out the surgery by the smallest damage possible to limit the wound during the surgical procedure. The size of the incision made is quite less compared to open surgery. This is very beneficial for the patients as the wound recovery time and the after-surgery pain is reduced by employing the techniques of minimally invasive surgical procedures. Increased accuracy, less pain, faster discharging time, less chances of wound infection, and reduction in operational costs are some of the prominent benefits of this kind of surgeries. The components used in procedure in order to perform the techniques of making smaller invasion for a successful surgery are the minimally invasive surgical instruments. Continual innovations in the methods and instruments of MIS are gradually making this procedure suitable for the people with a wide range of conditions and increasingly being alternated with conventional open surgeries.
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The global minimally invasive surgical instruments market is growing at a substantial pace as the number of MIS procedures are drastically being propelled and adopted globally. MIS instruments such as fiber optic cables, miniature scopes & cameras, specially designed invasive surgical devices, are requisites and are common for most of the types of minimally invasive surgeries. Improving healthcare facilities in the developing regions are effectively helping in the market growth. An increased awareness about healthcare & wellness, changing surgical patterns, government supports, and escalating volumes of implementation of the minimally invasive surgical units in various healthcare centers are expected to boost the growth of this market further. Among the end-users, the hospitals sub-segment is leading in the market owing to the incorporation and adoption of the highest number of minimally invasive surgical techniques in surgical departments. Medical stores & brand outlet is dominating the market but a higher growth rate has been forecasted for the online retailing sub-segment.
Key Coverage of the Report
- Region and country wise statistics of the global Minimally Invasive Surgical Instruments market from the period 2023-2032. While 2022 & 2023 has been utilized as historical data, 2023 is considered the base year. 2023-2032 have been derived as forecasts.
- Estimation of the market size along with historical and forecasted trend analysis.
- Various types of alternatives available have been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.
- The regulatory framework of each region.
- Regional up-coming research and application outlook.
- Status of on-going developments.
- Regional prevalence of ambulatory care services has been mapped.
- Demand and Supply GAP Analysis
- Regional Competitors Pricing Strategy
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments.
Salient Trends of the Minimally Invasive Surgical Instruments Market
- Surgeries in the Asia Pacific developing countries have been significantly improved in the last few decades. Modern amenities, presence of highly qualified surgeons, and extensive lower costs for the surgeries are the reasons patients in some of the highly populous developing countries in this region do not require to go to foreign countries for surgical needs. A high growth in the number of surgery departments incorporating the minimally invasive surgical procedures have been observed in countries like India and China. The minimally invasive surgical instruments are predominantly being used in such surgical units. Clearly, the extensive use of minimally invasive surgical instruments in the end-use verticals are the key drivers of this market.
- In minimally invasive cardiovascular surgeries, the surgeons perform the heart surgeries through small incisions on the right side of the chest. Aortic valve replacement, mitral valve repair, atrial septal defect, and coronary artery bypass surgery, among others, are some widely used cardiovascular surgeries that require minimally invasive surgical instruments. The cardiovascular surgery gained the highest market share of 26.9% in 2023 due to a number of benefits such as less blood loss, reduced pain & trauma, lower risk of infections and others attributed by the minimally invasive procedure.
- High costs related to advanced minimally invasive surgical instruments and therapeutic & non-invasive medication as an alternation of the surgeries are the most prominent restraining factors for the market. Besides, minimally invasive surgeries are not applicable for every patient and only a number of patients can be fit for this type of operation. Hence the mediocre and low volume healthcare centers often refrain from upgrading to these special surgical instruments.
- Handheld instruments includes all the common and requisite surgical instruments widely used in all the type of minimally invasive surgeries. A radical increase in all the variety of minimally invasive surgical procedures worldwide is helping this sub-segment grow highest with a forecasted growth rate of 10.3% in the period 2023 to 2032.
- European region is forecasted to witness a significant growth in the overall market, with a CAGR of 9.1% during the forecast period. Germany holds some of the most prominent players in this region.
- North America, with its extensive demand for minimally invasive surgical instruments in both the hospitals & ambulatory surgical centers sub-segment and escalating volumes of MIS surgical procedures, is accounted to grow with a CAGR of 9.7% during the period 2023 – 2032.
- APAC, owing to a higher count of the patients with surgical needs coupled with remarkable advancements in the healthcare sectors in China, and India, is expected to grow with the fastest CAGR of 11.8% throughout the forecast period.
Companies considered and profiled in this market study
Medtronic PLC, B. Braun Melsungen AG, Smith & Nephew PLC, Stryker Corporation, Smith & Nephew PLC, Abbott Laboratories, Ethicon, Inc., Microline Surgicals, Inc., CONMED Corporation, and NuVasive Inc.
- The valuation for the global minimally invasive surgical instruments market was USD 20.69 Billion in 2023, and it is forecasted to reach USD 41.61 Billion by 2032.
- Clinics & research institutes sub-segment had a market share of 32.7% by 2032, growing with a CAGR of 7.7% throughout the period 2023 to 2032.
- Cutter Instruments sub-segment is predicted to a market share of 6.9% in 2032, having grown with a CAGR of 8.6% during the forecast period.
- Electrosurgical devices sub-segment is forecasted to grow with a CAGR of 6.6% during the forecast period.
- Robotic procedure is growing with a significant CAGR of 11.6% throughout the period 2023 to 2032.
- The hospitals around the world incorporate the minimally invasive surgical instruments in all the surgical departments. The hospitals sub-segment is expected to retain its domination with a market share of 49.8% by 2032, and the CAGR is forecasted to be 9.5% during the period 2023 – 2032.
Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this report,have segmented the global minimally invasive surgical instruments market on the basis of type, sales channel, type of procedure, application, end-users, and region:
Type Outlook (Revenue, USD Billion; 2023-2032)
- Handheld Instruments
- Inflation Systems
- Cutter Instruments
- Guiding Devices
- Electrosurgical Devices
- Auxiliary Instruments
Sales Channel Outlook (Revenue, USD Billion; 2023-2032)
- Online Retailing
- Medical Stores & Brand Outlet
Type of Procedure Outlook (Revenue, USD Billion; 2023-2032)
Application Outlook (Revenue, USD Billion; 2023-2032)
- Cardiovascular Surgery
- Gastrointestinal Surgery
- Orthopedic Surgery
- Gynecological Surgery
- Cosmetic Surgery
- Urological Surgery
End-Users Outlook (Revenue, USD Billion; 2023-2032)
- Clinics & Research Institutes
- Ambulatory Surgical Center
Regional Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Asia Pacific
- Latin America
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