LONDON, June 24, 2022 /PRNewswire/ -- Minimally Invasive Surgical Instruments Market is valued at USD 20.18 Billion in 2021 and expected to reachUSD 32.19 Billion by 2028 with a CAGR of 7.38% over the forecast period.
Minimally Invasive Surgical Instruments Market Size, Share & Trends Analysis Report By Type (Visual Image, Retinal Direct, Synaptic Interface) By Application (Holographic Display, Head Mounted Display, Head-Up Display) By Vertical (Medical, Aerospace & Defense, Automotive, Consumer Electronics, Commercial), Based On Region, And Segment Forecasts, 2022 - 2028. Increasing number of surgeries, rising adoption of minimally invasive surgeries, and growing geriatric population are some of the major factors driving the growth Report Published By Brandessence Market Research.
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Minimally Invasive Surgical Instruments: Market Scope
The global minimally invasive surgical instruments market has seen a consistent amount of growth in the last few years. There is a rapid increase in the number of surgeries as well as an acceleration in the demand for surgical instruments. Further, the growing number of the ASCs as well as the rise in interest of the surgeries which are robotic-assisted is going to give an enormous level of opportunities for the players who are investing in the minimally invasive surgical instrument in the market. Overall, the minimally invasive surgical instruments market forecast looks positive
Minimally Invasive Surgical Instruments: Segmentation Analysis
The global minimally invasive surgical instruments market in terms of segmentation is going to be dominated by the electrosurgical and electrocautery instruments which will be the greatest growing segment in the world because of their higher acceptance in the physicians for the control of blood loss in the surgical procedures. The minimally invasive surgical instruments market has been dominated by the cardiothoracic surgery segment.
This is the surgery which is going to see a great amount of growth with the unhealthy eating habits and sedentary lifestyles. That will drive the market for these kind of surgeries. The hospitals and clinics segment will show the largest share among the minimally invasive surgical instruments market. The adoption is the highest in this segment as it requires investment which can only be done by the bigger hospital setups.
Global Minimally Invasive Surgical Instruments Market Segmentation:
- Electrosurgical Devices
- Monitoring & Visualization Devices
- Cutter Instruments
- Guiding Devices
- Handheld Instruments
- Inflation Devices
- Auxiliary Devices
- Gastrointestinal Surgery
- Gynecological/Urological Surgery
- Orthopedic Surgery
- Cosmetic/Bariatric Surgery
- Cardiothoracic Surgery
- Others
- Ambulatory Surgical Centers (ASCs)
- Hospitals & Clinics
Minimally Invasive Surgical Instruments: Competitive Analysis
The global minimally invasive surgical instruments market share is distributed among the major players in the market such as Medtronic plc, Johnson & Johnson, Stryker Corporation, Abbott Laboratories and Boston Scientific Corporation. The companies invest heavily in research and development and in their compliances to make sure that they do not face delay in their approvals. This is a critical aspect of them saving on investments and getting profitability.
- Siemens
- Medtronic
- Ethicon, Inc. (Johnson & Johnson)
- Abbott Laboratories
- Depuy Synthes
- Intutive Surgical, Inc.
- NuVasive, Inc.
- Zimmer Biomet
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Recent Developments:
News- Striker Announced that They have Launched a Procedure Guide for Minimally Invasive Bunion Procedures
On February 24th, 2022; Striker announced that they have launched their new Prostep MICA solo guide for minimally invasive bunion procedures. Kalamazoo, a Michigan-based striker, has designed the Prostep MICA all-in-one procedure guide for use by a single surgeon, eliminating the need for additional surgical assistance during minimally invasive bunion operations.
Max Hospital Launched Surgical Robot with Da Vinci Xi to Minimize Aggressive Surgery with Robotic Assistance
On November 10th, 2021; Max Hospital launched Da Vinci Xi Surgical Robot to perform robotic-assisted minimally invasive surgeries. The da Vinci system translates a specialist's hand developments at the console in real time, twisting and rotating the instruments while going through the procedure. The Da Vinci Shi surgical robot enables surgeons to perform complex surgeries with increased accuracy and flexibility in a variety of disciplines, including oncology, minimal access, urology, bariatric and robotic surgery, gynecology, thoracic surgery, and general surgery.
Minimally Invasive Surgical Instruments: Key Drivers
In the last decade or so, the minimally invasive surgeries have been undergoing technological advancements of drastic proportions and that has created a paradigm shift in the way these surgical procedures are done in the operation rooms. Most of these surgeons right now opt for the advanced minimally invasive surgical procedures like the LESS surgery as they have an advantage over the traditional surgeries of open surgery. This results in lesser scars and tissues injury, quicker periods of recovery, shorter stays in hospital, reduced loss of blood and trauma.
It also significantly reduces the risk of infection which is faced by them and the overall cost of healthcare. Further, the minimally invasive surgeries have been covered by the health insurance providers in very few countries. These are factors that have created an increase in the preferences for the minimally invasive surgeries in the patients. The emerging economies right now offer the greatest opportunities of growth and that is because the regulatory barriers are really low in these countries.
The minimally invasive surgical instruments market size will further grow in these centers as the healthcare investment is going to increase in such countries. That will play a huge role in the growth of this market. Further, the regulatory policies in these regions are a lot more business friendly and adapted when compared to the developed countries. The matured markets are already saturated and have to undergo great competition. This has drawn the major players in the markets to focus on the emerging economies.
The world right now is not very certain for the medical device manufacturers due to the uncertainties which exist in terms of regulations. The time which is taken for obtaining a premarket approval has increased a products gestation period because the efficacy has to be proved. Now this leads to an increased level of investment and a delay in the process of approval. Further there is need for getting additional capital for an in-depth level of market study. This can also lead to the product being recalled when the companies are short of funds for conducting and additional study in order to support data requirement from the regulatory authorities. These are delays in the approvals which can restrain the global minimally invasive surgical instruments market.
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Minimally Invasive Surgical Instruments: Key Trends
The global minimally invasive surgical instruments market has been affected negatively due to the pandemic. The emergence of the coronavirus pandemic created a change in the delivery of medical care all over the world. This also increased the pressure on the hospitals as there was a growth in the rate of hospitalizations and the covid patients had to be treated on priority so many surgeries had to be canceled or delayed all over the world to redirect and reserve the limited capacities and resources towards the patient care of the covid 19 patients.
The most affected here was the cardiac surgery services which had to undergo a remodelling in terms of their structure. The cardiac surgery services and provisions of the emergency surgeries alongside the management of the pandemic was a big challenge for the hospitals creating a gap in the structure. The consequences of the delays in the cardiac surgeries had to be evaluated. The patients who had cardiac complications were prioritized but did not need a minimally invasive surgery. This led to a decline in the growth substantially. However, the post pandemic world will be positively responsive as the surgeries which are pending will now be working in favour of the global minimally invasive surgical instruments market.
Minimally Invasive Surgical Instruments: Regional Analysis
In terms of the region, the global minimally invasive surgical instruments market, it is the North American market which is going to show the greatest amount of growth and is going to dominate the market share too. This is due to the high level of adoption and lesser resistance in the market. However, with the kind of regulations that exist in this region, it is expected that the market overall will shift its base to the Asia pacific region which is more dynamic and has more possibilities.
On Special Requirement Minimally Invasive Surgical Instruments Market Report is also available for below region:
North America
- U.S, Canada
Europe
- Germany, France, U.K., Italy, Spain, Sweden, Netherlands, Turkey, Switzerland, Belgium, Rest of Europe
Asia-Pacific
- South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
Latin America
- Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
Middle East and Africa
- Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA
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