Increasing demand for handheld instruments in minimally invasive surgical instruments market coupled with high investments in R&D of MIS instruments are fueling the market growth.
Market Size – USD 16.98 Billion in 2018, Market Growth – CAGR of 9.4%, Market Trends – Increase in demand for minimally invasive surgical instruments in cardiovascular MIS procedures in the hospitals and ambulatory surgical center globally.
The Global Minimally Invasive Surgical Instruments Market is forecast to reach USD 38.43 Billion by 2027, according to a new report by Reports and Data. 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 lesser compared to open surgery. The component used in the procedure in order to perform the techniques of making smaller invasion for a successful operation are the minimally invasive surgical instruments. Minimally invasive surgical instruments such as fiber optic cables, miniature scopes & cameras, specially designed invasive surgical devices, are requisite and common for most of the types of minimally invasive surgeries.
The North American market is forecasted to grow with a CAGR of 9.7% during the forecast period, owing to its adoption of advanced equipment & machineries for surgeries and extensive demand for MIS instruments in the MI Surgical Units and departments in all the hospitals and ambulatory surgery centers. Asia Pacific, with its advancements in the healthcare industry and escalating volumes of patients with surgical needs in China, and India, is likely to achieve a significant market share. China and India are some of the fastest-growing markets, while the United States, Japan, and Germany hold some of the most prominent players in the market.
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Further key findings from the report suggest
- Online retailing supply of the surgical instruments and devices has been trendy in the emerging nations like China and India mainly. Online retailers can offer reduced prices compared to the medical stores and offline vendors due to the non-involvement of distributor chains in the business process. This sub-segment is expected to grow at a CAGR of 11.1% during the forecast period.
- Advanced robotic systems help the surgeons gain greater control and vision during MIS surgeries. Pancreatic cancer, liver tumors, and gallbladder cancer, are some of the minimally invasive surgeries that can be performed with robotic assistance. On the other hand, the non-robotic or manual MIS requires the surgeons to perform the incisions and other operational activities. Both these type of MIS procedures require the same amount of instruments; only the additional robotic controllers such as a monitoring console and robotic arms are used in the robotic MIS procedures to accumulate accuracy in making the incisions.
- Ambulatory surgery centers are modern kind of healthcare facility centers, which are focused on providing immediate surgical care and releasing the patients right after the surgery. The ambulatory surgery centers have a more convenient outpatient procedure alternative to the hospitals based inpatient systems, maintaining a strong track record of quality care. Ambulatory surgery centers, incorporating all the required MIS instruments, are expected to grow fastest at a rate of 12.8% throughout the forecast period.
Key companies operating in the market include:
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 report covers an extensive analysis of the key market players in the market along with their business overview, expansion plans, and strategies. The report also focuses on recent strategic alliances in the market including mergers and acquisitions, joint ventures, partnerships, agreements, corporate and government deals, product launches, and brand promotions, among others.
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The report aims to provide a better understanding of the market dynamics and the workings of the industry on a global level. To gain a deeper understanding of the industry, the global Minimally Invasive Surgical Instruments market is further segmented on the basis of key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report also offers a country-wise analysis to provide crucial insights into market size, market growth, market revenue growth, and economic growth in each region.
On basis of product types and application offered by the Minimally Invasive Surgical Instruments industry, the market is segmented into:
Type Outlook (Revenue, USD Billion; 2016-2027)
- Handheld Instruments
- Inflation Systems
- Cutter Instruments
- Guiding Devices
- Electrosurgical Devices
- Auxiliary Instruments
Sales Channel Outlook (Revenue, USD Billion; 2016-2027)
- Online Retailing
- Medical Stores & Brand Outlet
Type of Procedure Outlook (Revenue, USD Billion; 2016-2027)
Application Outlook (Revenue, USD Billion; 2016-2027)
- Cardiovascular Surgery
- Gastrointestinal Surgery
- Orthopedic Surgery
- Gynecological Surgery
- Cosmetic Surgery
- Urological Surgery
End-Users Outlook (Revenue, USD Billion; 2016-2027)
- Clinics & Research Institutes
- Ambulatory Surgical Center
The regional analysis covers:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Benefits of Minimally Invasive Surgical Instruments Market Report:
- Panoramic overview of the opportunities and risks in the Minimally Invasive Surgical Instruments sector
- Study of recent innovations and developments in the industry
- Comprehensive study of the growth pattern of the Minimally Invasive Surgical Instruments industry
- In-depth assessment of the competitive landscape of the key players of the Minimally Invasive Surgical Instruments industry
- Analysis of the Minimally Invasive Surgical Instruments market drivers, constraints, and opportunities
- Assessment of technological developments and latest trends of the industry
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