Minimally Invasive Surgical Instruments Market Analysis and Growth


Minimally Invasive Surgical Instruments Market to Reach US$ 63.0 bn by 2031, driven by the rising number of minimally invasive surgeries: Global Insight Services

New York, September 2022: According to a new research study by Global Insight Services (GIS), the global minimally invasive surgical instruments market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 65.3 billion by 2031.

Minimally invasive surgery is associated with less pain, fewer complications and shorter hospital stay. Surgeries such as cardiothoracic surgery, gastroesophageal reflux disease, gastroenterology, gynecological surgery, heart surgery, pediatric surgery, urogynecology and pelvic reconstructive surgery, and urological surgery are conducted through minimally invasive surgical procedures. Both diagnostic and treatment surgeries can be performed with minimally invasive surgery.

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Minimally Invasive Surgical Instruments Market: Key Trends and Drivers

Rise in geriatric population fuels the minimally invasive surgery market growth, owing to the fact that aged individuals are more susceptible to chronic diseases. Moreover, rise in number of surgeries boost growth of the market. According to the World Health Organization (WHO), in 2019, it was reported that around 235 million major surgeries are conducted every year across the globe. Further, in March 2021, the U.S. Food and Drug Administration (USFDA) announced that they have given authorized marketing approval to the Hominis Surgical System, a new robotically-assisted surgical device (RASD), which can help facilitate transvaginal hysterectomy in certain patients.

Minimally Invasive Surgical Instruments Market: Restraints & Challenges

Changing regulatory landscape in the medical device industry may hinder the market growth. The regulatory environment is extremely uncertain for medical device manufacturers. From 2005 to 2010, the average time taken to approve a 510 (k) application increased by 43%, while the time required to obtain a premarket approval increased by 75%. The US FDA demands more clinical data with respect to the clinical safety and efficacy of a product. This leads to increased investments by companies in clinical trials, delays in the approval process, and additional capital requirements for in-depth post-marketing surveillance studies. It also increases the risk of product recalls, especially when companies lack the funds to conduct additional studies to support additional data requirements from the FDA. These delays in approvals also restrain the growth of the minimally invasive surgical instruments market. Such regulatory reforms also restrict small manufacturers from entering the market.

Minimally Invasive Surgical Instruments Market Report Findings https://www.globalinsightservices.com/reports/minimally-invasive-surgical-instruments-market/

The handheld instruments segment is likely to hold a dominant minimally invasive surgical instruments market share and grow at a substantial CAGR during the forecast period.

Based on device, it is segmented into, Handheld Instruments, Inflation Devices, Cutter Instruments, Guiding Devices, Electrosurgical Devices, Auxiliary Devices, and Monitoring & Visualization Devices. Among these, in 2021, the handheld instruments segment dominated the minimally invasive surgical instruments market with more than 22% share. Handheld instruments used in MIS techniques target reducing the amount of damage to extraneous tissues during surgical procedures, thereby speeding patient recovery time and reducing discomfort & side effects. Most of the instruments in the MIS market are single-use products. The handheld instruments market is driven by technological innovations and their growing adoption in minimally invasive surgeries. For instance, a low-cost mechanical instrument has been developed recently to perform minimally invasive laparoscopic surgeries. These handheld devices can be either mechanical, robotic, or semi-automated. Handheld devices ensure easier access during surgery with instrument triangulation, thereby reducing the risk of potential mistakes.

The orthopedic segment is anticipated to hold a majority of the minimally invasive surgical instruments market size throughout the study period.

Based on application, it is segmented into cardiac, gastrointestinal, orthopedic, vascular, gynecological, urological, thoracic, cosmetic, dental and others. Among them, in 2021, orthopedic segment is expected to command the largest share. The orthopedic application segment dominated the market with a revenue share of over 23.6% in 2021. In orthopedic MIS procedures, no muscles need to be cut or separated from the bone. Therefore, this approach has led to improved patient satisfaction and a faster healing process. Most often MIS is utilized in the hip as well as knee replacement surgery. Hospitals and surgeons seek surgical procedures that result in fewer operative as well as postoperative complications and reduced hospitalization period. On the other hand, pats seek surgical treatments that reduce trauma and allow speedy recovery.

The hospitals segment is anticipated to hold a majority of the minimally invasive surgical instruments market size throughout the study period.

Based on authentication mode, it is segmented into hospital, and ambulatory surgical center. Among them, in 2021, hospital is estimated to account for the largest share. Rising number of hospitals in developing countries along with presence of skilled professionals and availability of advanced instrument. Also, increasing number surgeries due to road accident will boost the segmental demand.

The Asia-Pacific region is estimated to exhibit the highest growth rate during the minimally invasive surgical instruments market forecast period.

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific market is anticipated to witness lucrative growth over the forecast year. Asia Pacific is expected to be fastest-growing regional market from 2022 to 2030. The rising geriatric population in Japan and China, road crashes, and developing economy are expected to promote the emergence of MIS procedures in Asia Pacific. The demand for minimally invasive procedures in this region is mainly driven by rising medical tourism mainly for cosmetic surgeries.

Competitive Landscape

The global Minimally Invasive Surgical Instruments Market report includes players such as Medtronic plc (Ireland), Johnson & Johnson (US), Stryker Corporation (US), Abbott Laboratories, Inc. (US), Boston Scientific Corporation (US), B. Braun Melsungen AG (Germany), CONMED Corporation (US), Smith & Nephew plc (UK), Zimmer Biomet Holdings, Inc. (US), Becton, Dickinson and Company (US), among others. In addition, major vendors are focused on developing smarter technologies for surface disinfections. For instance, in March 2021, Johnson & Johnson (US) launched its ECHELON+ Stapler.

Recent Developments in the Minimally Invasive Surgical Instruments Market:

  • In May 2022, Surgical instruments manufacturer launches new green initiative. This initiative includes launching a new Ethical Duty Smart Repair service, which actively promotes the repair and refurbishment of surgical instruments and other medical devices to tackle global steel wastage.
  • In October 2020, MMI SpA, an Italian company dedicated to improving clinical outcomes for patients undergoing microsurgery, announced today the CE Mark, launch and first human use of its Symani® Surgical System in Europe for open microsurgical procedures.
  • In June 2019, Medtronic plc (Ireland) acquired Titan Spine (Germany). This acquisition strengthened Medtronic’s position as a leading innovator in procedural solutions for spine surgery.
  • In November 2018, Stryker Corporation (US) acquired K2M Group to strengthen and expand its product offerings in the arthroscopy and minimally invasive spine portfolio and expand its manufacturing capabilities.

Minimally Invasive Surgical Instruments Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current global Minimally Invasive Surgical Instruments Market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.
  • A thorough analysis of market trends and restraints is provided.
  • Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
  • The forecasts in this report are made by examining the recent trends along with future Minimally Invasive Surgical Instruments Market potential from 2021 to 2031 in terms of revenue.
  • Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Minimally Invasive Surgical Instruments Market are also analyzed.
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global surface disinfectants industry.

Global Minimally Invasive Surgical Instruments Market Segments

By Product Type

  • Handheld Instruments
  • Inflation Devices
  • Cutter Instruments
  • Guiding Devices
  • Electrosurgical Devices
  • Auxiliary Devices
  • Monitoring & Visualization Devices

By Application

  • Cardiac
  • Gastrointestinal
  • Orthopedic
  • Vascular
  • Gynecological
  • Urological
  • Thoracic
  • Cosmetic
  • Dental
  • Others

By End-Use

  • Hospitals
  • Ambulatory Surgical Centers

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of World
    • Latin America
    • Middle East
    • Africa

Key Players Profiled in the Report

•            Medtronic plc (Ireland)

•            Johnson & Johnson (US)

•            Stryker Corporation (US)

•            Abbott Laboratories, Inc. (US)

•            Boston Scientific Corporation (US)

•            B. Braun Melsungen AG (Germany)

•            CONMED Corporation (US)

•            Smith & Nephew plc (UK)

•            Zimmer Biomet Holdings, Inc. (US)

•            Becton, Dickinson and Company (US)


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