PUBLISHER: The Business Research Company | PRODUCT CODE: 1426219
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426219
Minimally invasive surgery devices refer to surgical tools designed for procedures requiring smaller incisions or promoting faster healing. These devices can be implanted inside the patient during surgery.
The primary types of minimally invasive surgery devices include handheld instruments, inflation devices, cutter instruments, guiding devices, electrosurgical devices, auxiliary devices, and monitoring and visualization tools. Electrosurgical devices are particularly used for tissue destruction, incision, and controlling bleeding through coagulation. These devices find applications across various medical fields such as laparoscopy, cardiovascular surgery, cosmetic surgery, orthopedics, obstetrics and gynecology, ophthalmology, neurosurgery, urology, and others. They are utilized by end-users including hospitals, ambulatory surgical centers (ASCs), and research institutes.
The minimally invasive surgery devices market research report is one of a series of new reports from The Business Research Company that provides minimally invasive surgery devices market statistics, including minimally invasive surgery devices industry global market size, regional shares, competitors with a minimally invasive surgery devices market share, detailed minimally invasive surgery devices market segments, market trends and opportunities, and any further data you may need to thrive in the minimally invasive surgery devices industry. This minimally invasive surgery devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The minimal invasive surgery devices market size has grown rapidly in recent years. It will grow from $36.6 billion in 2023 to $40.42 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. Historical growth in minimally invasive surgery devices was driven by factors such as the increasing prevalence of chronic diseases, the growth of the geriatric population, the rising incidence of obesity, and the growing demand for natural orifice transluminal endoscopic surgery.
The minimal invasive surgery devices market size is expected to see rapidly grown in the next few years. It will grow to $59.17 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. Anticipated growth in the forecast period for minimally invasive surgery devices is linked to several factors, including the global expansion of healthcare services, a rising trend toward patient-centric care, increased patient preference for less invasive procedures, and the emphasis on surgeon training and expertise.
The escalating recognition and preference for minimally invasive surgeries among the populace stand as a key driver propelling the market for minimally invasive surgery devices. These procedures entail smaller incisions compared to conventional surgery, offering reduced pain, shorter hospital stays, minimal scarring, lowered risks of bleeding and infections, and decreased tissue damage. Notably, insights from the German Heart Surgery Report highlight a decline in heart operations using ECC (extracorporeal circulation), attributing it to established innovations in minimally invasive therapeutic options. Moreover, data showcasing that 51.1% of heart valve operations in Germany were single-valve procedures, with 38.5% among them being minimally invasive, underscores the growing demand for these surgical methods, thereby augmenting the demand for corresponding devices in the market.
The burgeoning demand for robotic surgical procedures emerges as a driving force propelling the minimally invasive surgery market. These advanced procedures offer enhanced precision, flexibility, and control compared to traditional methods, making them increasingly favored across multiple medical specialties. Noteworthy statistics from September 2022, sourced from ScienceDirect, reveal the proliferation of da Vinci surgical systems in China, surpassing 260 installations and witnessing over 89,000 robotic procedures in 2021, an 87.8% surge from the preceding year. With the da Vinci Surgical System gaining FDA approval, the escalating demand for robotic surgeries significantly contributes to the growth of the minimally invasive surgery market.
Technologically advanced minimally invasive surgery devices, incorporating improvements in image guidance, fiber-optics, mini dental implants, and robotic control systems, are gaining traction among patients seeking effective medical treatments. These devices, characterized by enhanced capabilities in imaging, micromachining, and robotic systems, are witnessing increased adoption in healthcare. Notably, procedures like video-assisted thoracoscopic surgery (VATS) exemplify the shift towards less invasive techniques, utilizing video cameras and advanced imaging technology for treating lung-related conditions. The burgeoning application of MIS techniques, including single-site laparoscopic surgery, needlescopic surgery, and cardiac and spinal surgeries, among others, underscores the evolving landscape of minimally invasive procedures in healthcare.
Major players within the minimally invasive surgery market are directing their efforts towards innovative product development to bolster their market presence and competitive edge. Notably, the introduction of microrobotic tools, such as the tiny robotic hand developed by University of Toronto researchers in June 2023, represents a significant stride in this domain. Operated via an electromagnetic system, this microrobotic tool functions as a surgeon's hand during minimally invasive brain surgery, enabling access to intricate brain areas with minimal invasiveness. Such innovations promise expedited treatments and recoveries for patients, highlighting the impetus on novel product development within the minimally invasive surgery market.
Food and Drug Administration Act (FDA) regulates the minimally invasive surgical devices market in the United States of America. The firms manufacturing robotic minimally invasive surgical devices have to list down any possible risks to health and measures taken by them so that the device addresses health hazards if any stated by FDA. However, the FDA is concerned about the health care providers and patients for not being aware of the safety and effectiveness of these devices as they should not be used in mastectomy procedures or prevention or treatment of cancer.
Major companies operating in the minimal invasive surgery devices market include Abbott Laboratories, GE Healthcare, Medtronic PLC, Siemens Healthineers, Smith & Nephew Plc., Stryker Corporation, Boston Scientific Corporation, EthiconInc., B. Braun Melsungen Ag, Conmed Corporation, Microline SurgicalInc., Zimmer Biomet HoldingsInc., Aesculap Inc., Koninklijke Philips NV, Intuitive Surgical Inc., F. Hoffmann-La Roche AG, Cardinal Health inc., Baxter International Inc., Philips, Danaher Corporation, KARL STORZ SE & Co. KG, Richard Wolf GmbH, Cook Medical, Intuitive Surgical, Inc., Smiths Medical, Teleflex Incorporated, Terumo Corporation, Merit Medical Systems, AngioDynamics, MicroPort Scientific Corporation, Lumenis
North America was the largest region in the minimally invasive surgery devices market in 2023. Western Europe was the second-largest region in the global minimally invasive surgery devices market analysis. The regions covered in the minimal invasive surgery devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the minimal invasive surgery devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The minimally invasive surgery devices market consists of sales of graspers, retractors/elevators, dilators, suturing instruments, laparoscopes, gastroscope, cystoscope, and ureteroscop. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Minimal Invasive Surgery Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on minimal invasive surgery devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for minimal invasive surgery devices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The minimal invasive surgery devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.