Global Minimally Invasive Surgical Instrument
Market Report
2024
Minimally invasive surgical instrument market was valued at USD 20391.49 million in 2022 and will reach USD 36639.3 million by 2030, registering a CAGR of 7.6% for the forecast period 2023-2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The Global minimally invasive surgical instrument market was valued at USD 20391.49 million in 2022 and will reach USD 36639.3 million by 2030, registering a CAGR of 7.6% for the forecast period 2023-2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Minimally Invasive Surgical Instrument Market Sales Revenue 2022 | $ 20391.5 Million |
Global Minimally Invasive Surgical Instrument Market Sales Revenue 2030 | $ 36639.3 Million |
Global Minimally Invasive Surgical Instrument Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 7.6% |
Market Split by Product Type |
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Market Split by Application |
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Market Split by Technology |
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Market Split by End Users |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Minimally Invasive Surgical Instrument Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The term "minimally invasive surgery" refers to surgical procedures that minimize the size of incisions required, speeding up wound healing and lowering pain and infection risks.
For many abdominal treatments, minimally invasive surgery is taking the place of the conventional open surgical method. The advantages of less pain, quicker oral intake recovery, shorter hospital stays, and better cosmetic outcomes all contribute to the growing popularity of laparoscopic surgery. A patient may simply need an adhesive bandage on the wound following a minimally invasive operation rather than numerous stitches or staples to seal a large incision. Medical technology advancements have made it possible to create and use minimally invasive procedures regularly.
Increasing demand for several surgeries such as cosmetic surgery, general surgery, surgical oncology, colorectal surgery, pediatric surgery, and thoracic surgery, heavily depend on minimally invasive surgery (MIS). In addition, technological advancement and new launches by major players in the market are the major driving factors that fuel the minimally invasive instrument market.
Growing demand for minimally invasive cosmetic surgery:
Your face and body can be changed or improved through a variety of cosmetic surgery procedures. Newer technology, like a laser, is used in cosmetic surgery to accomplish procedures that previously needed significant surgery and a lengthy recuperation period. With a wide range of equipment and methods at their disposal today, plastic and cosmetic surgeons can perform treatments like facelifts and eye lifts more easily and affordably.
Minimally invasive face cosmetic surgery is more acceptable for healthy individuals without deformities because it is less stressful and invasive, has fewer postoperative problems, and ensures a speedy recovery. These include surgical procedures like double-fold eyelid operations and non-surgical procedures such as injections of botulinum toxin or soft tissue fillers.
According to the American Society of Plastic Surgeons, 15.6 Million Cosmetic Procedures are performed in which 13.2 million Cosmetic Minimally-Invasive Procedures were performed in 2020 (American Society of Plastic Surgeons, 2020, plastic surgery statistic Report 2020).
Botulinum Toxin Type A, soft tissue fillers, non-invasive fat reduction, skincare & treatments, and nonsurgical skin tightening are the top five minimally invasive cosmetic procedures that patients desire in 2021-22 according to American Society of Plastic Surgeons(Inaugural ASPS Insights and Trends Report: Cosmetic Surgery 2022). Major market players focus on development and new launches in minimally invasive cosmetic surgery products, which grows the demand for minimally invasive surgery.
Technological advancement in minimally invasive instruments:
Recent years have seen a boom in the adoption of minimally invasive surgery, which offers significant advantages over conventional methods for a variety of surgical operations. Significant improvements in medical technology, which partially resolved some of the technical and clinical difficulties related to minimally invasive methods, have enabled this rapid expansion. In recent years, the introduction of new tools and technology has made complex procedures that were once thought to be inappropriate for minimally invasive surgery possible.
Using virtual reality and multimodal image registration, recent navigation systems dramatically improve the way information is gained, and incorporated into the surgery procedure. Virtual reality computer models have changed how new practitioners are trained by offering creative solutions to accelerate the learning curve. Finally, yet importantly, advances in robotic surgery have significantly improved the dexterity and skillfulness of the surgeon through articulated instruments and human-robot collaborative platforms. To compensate for the loss of stereovision and to outperform fiber optics, modern cameras may deliver 3D images in HD and provide an understanding of the operating area in comparison to conventional surgery.
The launch of new products and the increasing interest of competitors in this industry is expected to boost the growth of the minimally invasive instrument market. For instance, in November 2021 MicroPort MedBot Launched DFVision 3D Electronic Laparoscope. DFVision® uses high-resolution imaging objective lenses to produce dual full-HD images and reduce weight, making it more convenient for surgeons.
Restraining factors:
Disadvantages associated with minimally invasive instruments:
The side effects and disadvantages of minimally invasive surgery may impede the growth of the global market for minimally invasive instruments.
Minimally invasive surgery (MIS) can be expensive because it calls for surgeons to have highly specialized training and employ pricey specialized, high-end equipment. Additionally, some processes particularly the most recent to be adopted might take longer. However, these expenses can be significantly reduced with health insurance. At one point Bleeding, infection, and organ damage are examples of side effects and consequences.
Impact of COVID- 19 pandemic on the minimally invasive surgical instrument market:
Globally, COVID-19 has had an impact on the supply chain and workflow in the healthcare industry. People's behavior is affected by lockdowns, restricted mobility, and working from home during a pandemic. Healthcare professionals prioritize treating COVID patients during the pandemic and put off other elective procedures because there is a high demand for COVID patient care, a shortage of healthcare professionals, and a decline in the use of minimally invasive surgeries (MIS).
Elective surgeries have been postponed globally because of the pandemic's substantial and wide-ranging impact on surgical specialties. Surgery cases are given priority, inpatient care is provided for shorter periods, healthcare staff is exposed to less radiation, and hospital-acquired COVID-19 infections are prevented. When compared to traditional open surgery, minimally invasive surgery (MIS) employs a smaller incision, causes less damage to tissues, minimizes blood loss, shortens the time patients must stay in the hospital and produces superior short-term and comparable long-term results. To fight this pandemic, surgeons may find success in the field of minimally invasive surgery (MIS).
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Due to the presence of leaders, the market for equipment used in minimally invasive surgery is quite competitive. Most of their revenue is spent on research and development to create highly engaging technologies to improve their market position. The following are a few of the well-known companies active in the global market for minimally invasive surgical instruments:
Abbott Laboratories, Inc., Medtronic PLC, Johnson & Johnson, Olympus Corporation, Boston Scientific Corporation, Siemens, GE Healthcare, Stryker Corporation, Zimmer Biomet, HOYA Corporation, Depuy Synthes, CONMED Corporation, Fortimedix Surgical, Arthrex, Inc., Smith Nephew, Silex Medical LLC, Eximis Surgical, Inc.
The market players keep their dominance by spending on research and development, incorporating cutting-edge technology into their products, and releasing advanced products for customers. Market key players use various tactics, including strategic alliances, agreements, mergers, and partnerships.
January 2023:
PENTAX Medical launched a new premium video processor and endoscope series
Two of PENTAX Medical's most recent developments, the i20c video endoscope series, and PENTAX Medical INSPIRATM, the new premium video processor, have both received CE certification. PENTAX Medical is a division of the HOYA Group. The interests of healthcare practitioners were prioritized in the development of the PENTAX Medical INSPIRATM video processor. It blends cutting-edge features with straightforward use in a single plug-and-play solution. The i20c generation of endoscopes is built with outstanding imaging for the highest caliber of treatments and superior ergonomics for healthcare professionals. Outstanding maneuverability, angulation, and handling, along with even better eyesight, are immediately advantageous to doctors.
December 2022:
Abbott launched a new minimally invasive device Navitor in India
Abbott, a leading provider of healthcare services, recently announced the availability of Navitor, their most recent transcatheter aortic valve implantation (TAVI) system, for patients in India who have severe aortic stenosis and are at high or extremely high risk for surgery. To lessen or completely stop the backflow of blood around the valve frame known as a paravalvular leak (PVL), Navitor has a special fabric cuff (NaviSeal) that works with the cardiac cycle.
November 2021:
MicroPort MedBot Launched DFVision 3D Electronic Laparoscope at the 28th National Seminar for Laparoscopic Surgery Demonstration
Shanghai MicroPort MedBot (Group) Co., Ltd. (MicroPort® MedBot) to introduce their DFVision® 3D Electronic Laparoscope (DFVision®) attended the 28th National Seminar for Laparoscopic Surgery Demonstration. The electron microscope used by DFVision® uses high-resolution imaging objective lenses, which not only produce dual full-HD images but also greatly reduce weight, making it more convenient for surgeons. For precise release, suturing, and knotting during the process, DFVision®'s three-dimensional and longitudinal field of view is essential.
October 2021:
Medtronic Hugo™ Robotic-Assisted Surgery System Received European CE Mark Approval
The Hugo robotic-assisted surgery (RAS) system has gained the CE (Conformité Européene), Mark, allowing its sale in Europe, according to Medtronic plc, the world's largest provider of medical technology. For urologic and gynecologic treatments, which account for nearly half of all robotic procedures performed, CE Mark clearance is required.
May 2019:
The US Food and Drug Administration gave the ESG-150 Electrosurgery Generator (ESG-150) its seal of approval, and Olympus thereafter released it.
The launch and 510(k) clearance of the ESG-150 Electrosurgery Generator (ESG-150) were announced during Digestive Disease Week 2019 by Olympus, a global technology leader in inventing and delivering cutting-edge solutions for medical and surgical operations, among other core businesses. Much endoscopic equipment is powered by high-frequency electrical current from electrosurgical generators. The new ESG-150 offers features that improve user-friendliness and patient safety, which are the foundations on which the ESG-150 has been created.
Top Companies Market Share in Minimally Invasive Surgical Instrument Industry: (In no particular order of Rank)
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North America held the largest revenue market share over the other regions in the global minimally invasive surgical instrument market:
Due to the growing number of businesses investing in the development of minimally invasive equipment in North America, this region accounted for the largest revenue share in the minimally invasive instrument market. Orthopedic disorders are particularly prevalent in North America. The demand for and popularity of minimally invasive instruments rises as a result of the rising prevalence of chronic diseases, diabetes, and obesity due to diet and lifestyle choices, rising healthcare costs, government funding support, and research activities for innovation in minimally invasive devices, which propels the market's expansion.
The biomedical industry in North America focuses on creating minimally invasive tools. For example, Johnson & Johnson's Ethicon division introduced the ECHELON+ Stapler with GST Reloads, a new powered surgical stapler created to improve staple formation and increase staple line security even in difficult surgical procedures.
The current report Scope analyzes Minimally Invasive Surgical Instrument Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Global Minimally Invasive Surgical Instrument Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Minimally Invasive Surgical Instrument Industry growth. Minimally Invasive Surgical Instrument market has been segmented with the help of its Product Type , Application Technology , and others. Minimally Invasive Surgical Instrument market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The handheld devices dominated the worldwide minimally invasive surgical instrument market:
The market is segmented by product type into surgical devices, handheld devices, Endosurgical equipment and electrosurgical equipment, and monitoring and visualization systems. In which handheld devices held the largest market share.
Although minimally invasive surgery (MIS) offers several well-known advantages for patients, it also presents certain technical difficulties for surgeons. With the development of laparoendoscopic single-site (LESS) surgery, these technical constraints are widened. New handheld devices are being created that offer-enhanced functionality combined with precision-driven and rotating instrument tips to get around some of these technological challenges. These innovative devices offer instrument tips that are articulating and precision-driven, along with improved functionality. They seek to improve by boosting instrument triangulation and surgical dexterity. Handheld mechanical instruments and handheld robotic devices are the two primary divisions of these devices. That intracorporal suturing is made possible by handheld articulating equipment with comparable surgical time and results to traditional laparoscopy.
These tools aim to improve the function, capability, skills, and precision of the surgeon. They provide better instrument triangulation and simpler access to otherwise challenging intracorporal regions, lowering the possibility of errors and problems and possibly shortening the length of hospital stay. Thus the use of handheld devices increases which boost the minimally invasive instrument market.
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The orthopedic surgery segment accounted for the largest global minimally invasive instrument market revenue share.
The market is segmented by application into orthopedic surgery, cardiac surgery, gastrointestinal surgery, cosmetic surgery, bariatric surgery, gynaecology surgery, spine surgery, urology surgery, thoracic surgery, vascular surgery, breast surgery, anti-reflux surgery, cancer surgery, cholecystectomy surgery, colon and rectal surgery, colectomy surgery, Adrenalectomy surgery, ear, nose, and throat surgery. In which orthopedic surgery held the largest market share.
All medical professions, including orthopedics, have seen a rise in the use of minimally invasive surgery during the past few decades. Numerous orthopedics surgical treatments, including complete joint replacement, microscopic treatment of complex musculoskeletal diseases, and arthroscopic repairs of sports injuries, have been enhanced by new research and technology.
This can represent the difference between exposing the entire joint through a wide, open incision and employing small, focused incisions to exclusively treat the problematic area in orthopedics surgery. Less danger during surgery, less discomfort following surgery, and quicker recovery times are the outcomes of this. Numerous methods are offered by minimally invasive surgery, just as there are numerous varieties of orthopedic injuries. Numerous types of joint replacements can now be carried out using minimally invasive surgery, including hip, knee, and shoulder arthroscopy.
This sort of surgery has a substantially lower risk than standard surgery since the surgeon makes many tiny incisions to focus on the problematic area. Thus the orthopedic surgery segment fuels the minimally invasive instrument market.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Minimally Invasive Surgical Instrument market report 2024 Edition by contacting our team.
Research Associate at Cognitive Market Research
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.
Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses
I played a pivotal role in conducting market research and competitive analysis. I have a demonstrated ability to synthesize diverse data sources, identify trends, and translate findings into actionable recommendations. My collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization. I am committed to maintaining excellence through continuous learning and staying ahead of industry trends. Regular participation in conferences and professional development opportunities keeps my skills sharp and relevant.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Minimally Invasive Surgical Instrument Market is witnessing significant growth in the near future.
In 2023, the Surgical Devices segment accounted for noticeable share of global Minimally Invasive Surgical Instrument Market and is projected to experience significant growth in the near future.
The Orthopedic Surgery segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Abbott Laboratories Inc. , Johnson & Johnson and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Product Type | Surgical Devices, Handheld Devices, Endosurgical Equipment, Electrosurgical Equipment, Monitoring and Visualization Systems |
Application | Orthopedic Surgery, Cardiac Surgery, Gastrointestinal Surgery, Cosmetic Surgery, Bariatric Surgery, Gynecology Surgery, Spine Surgery, Urology Surgery, Thoracic Surgery, Vascular Surgery, Breast Surgery, Anti-Reflux Surgery, Cancer Surgery, Cholecystectomy Surgery, Colon and Rectal Surgery, Colectomy Surgery, Adrenalectomy Surgery, Ear Nose and Throat Surgery |
Technology | Transcatheter Surgery, Medical Robotics, Non-Visual Imaging, Laparoscopy Surgery |
End Users | Individual Surgeons, Hospital Surgical Department, Outpatient Surgery Patients, Group Practices |
List of Competitors | Abbott Laboratories Inc., Medtronic PLC, Johnson & Johnson, Olympus Corporation, Boston Scientific Corporation, Siemens, GE Healthcare, Stryker Corporation, Zimmer Biomet, HOYA Corporation, Depuy Synthes, CONMED Corporation, Fortimedix Surgical, Arthrex Inc., Smith Nephew, Silex Medical LLC, Eximis Surgical Inc. |
This chapter will help you gain GLOBAL Market Analysis of Minimally Invasive Surgical Instrument. Further deep in this chapter, you will be able to review Global Minimally Invasive Surgical Instrument Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Minimally Invasive Surgical Instrument Market Trends North America Minimally Invasive Surgical Instrument Technological Road Map North America Minimally Invasive Surgical Instrument Market Drivers North America Minimally Invasive Surgical Instrument Market Restraints North America Minimally Invasive Surgical Instrument Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Type Analysis 2019 -2031, will provide market size split by Product Type . This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Technology Analysis 2019 -2031
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Chapter 13 Market Split by End Users Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Minimally Invasive Surgical Instrument market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Surgical Devices have a significant impact on Minimally Invasive Surgical Instrument market? |
What are the key factors affecting the Surgical Devices and Handheld Devices of Minimally Invasive Surgical Instrument Market? |
What is the CAGR/Growth Rate of Orthopedic Surgery during the forecast period? |
By type, which segment accounted for largest share of the global Minimally Invasive Surgical Instrument Market? |
Which region is expected to dominate the global Minimally Invasive Surgical Instrument Market within the forecast period? |
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