Minimally Invasive Surgical Instruments Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030
The Global Minimally Invasive Surgical Instruments Market Size accounted for USD 26,486 Million in 2021 and is estimated to achieve a market size of USD 59,249 Million by 2030 growing at a CAGR of 9.6% from 2022 to 2030. The rising frequency of chronic disorders such as heart disease, gastrointestinal disease, renal disease, as well as respiratory disease is fueling the minimally invasive surgical instruments market growth. Furthermore, growth in demand for minimally invasive operations, as well as an increase in funding from private and government organizations, is predicted to drive the minimally invasive surgical instruments market value during the projection years.
Minimally Invasive Surgical Instruments Market Report Key Highlights
- Global minimally invasive surgical instruments market revenue is expected to increase by USD 59,249 million by 2030, with a 9.6% CAGR from 2022 to 2030
- North America region led with more than 42% minimally invasive surgical instruments market share in 2021
- According to estimates, 310 million major procedures are performed globally each year, with approximately 40 to 50 million in the United States and 20 million in Europe
- By device, the handheld instruments segment has accounted market share of over 22.1% in 2021
- By application, orthopedic segment engaged more than 23.8% of the total market share in 2021
- Among end-user, ambulatory surgical center's sector is growing at a strongest CAGR over the forecast period
The inclination for Minimally Invasive Surgical (MIS) techniques is increasing as they are less traumatic and they encourage a quicker recoup process than conventional open medical procedures or surgeries. Negligible intrusive innovations are intended for scarring, trauma, blood loss, and chances of infection than conventional open surgeries. Patients can continue their day-by-day activities for a shorter time after these surgeries. Moreover, the costs associated with negligibly obtrusive medical procedures are altogether not exactly in-quiet and regular surgeries. In this manner, MIS techniques end up being valuable for patients and payers. The advantages of MIS in different territories of orthopedics have added to the developing interest in less horrible options with the least tissue disturbance of bones.
Global Minimally Invasive Surgical Instruments Market Trends
Market Drivers
- Growing prevalence of chronic disorders
- Technological advancements in minimally invasive surgical instruments
- Rising geriatric population
- Growing demands for minimally invasive medical interventions
Market Restraints
- Lack of experienced professionals
- High cost of diagnostic instruments
Market Opportunities
- Increasing popularity of medical tourism
- Rising adoption of robotic surgeries in emerging markets
Minimally Invasive Surgical Instruments Market Report Coverage
| Market | Minimally Invasive Surgical Instruments Market |
| Minimally Invasive Surgical Instruments Market Size 2021 | USD 26,486 Million |
| Minimally Invasive Surgical Instruments Market Forecast 2030 | USD 59,249 Million |
| Minimally Invasive Surgical Instruments Market CAGR During 2022 - 2030 | 9.6% |
| Minimally Invasive Surgical Instruments Market Analysis Period | 2018 - 2030 |
| Minimally Invasive Surgical Instruments Market Base Year | 2021 |
| Minimally Invasive Surgical Instruments Market Forecast Data | 2022 - 2030 |
| Segments Covered | By Device, By Application, By End-User, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | GE Healthcare, Medtronic, Stryker, Smith & Nephew, Abbott, NuVasive, Inc., CONMED, Zimmer Biomet, Siemens, and Intuitive Surgical. |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
The advantages of minimally invasive surgical techniques, such as fewer major operating and post-operative complications and faster recovery times, are increasing global demand for minimally invasive procedure tools. Furthermore, the rising frequency of chronic diseases is propelling the worldwide minimally invasive surgical instruments market size.
Minimally invasive procedures are becoming more popular in surgery due to faster recovery, smaller incisions, less scarring and pain, better precision, and shorter hospital stays. Medical displays provide greater visibility of diagnostic pictures, highlighting even minor differences in tissues and cells, allowing for more precise and faster procedures. Consistent technical improvements in this discipline have resulted in higher-quality devices that enable surgeons to undertake surgical operations more swiftly while maintaining patient safety. The upgraded product designs give the operating room more control and accuracy. It is quite beneficial in the treatment of abdominal surgeries, and breast cancer, as well as cardiac, orthopedic, neurological, ophthalmic, as well as oral surgical techniques. It is claimed to be superior to open operations, particularly in senior patients, because the recovery time is considerably reduced.
Minimally Invasive Surgical Instruments Market Segmentation
The global minimally invasive surgical instruments market segmentation is based on device, application, end-user, and geography.
Minimally Invasive Surgical Instruments Market By Device
- Handheld Instruments
- Cutter Instruments
- Inflation Devices
- Electrosurgical Devices
- Guiding Devices
- Monitoring & Visualization Devices
- Auxiliary Devices
According to a minimally invasive surgical instruments industry analysis, the handheld instruments segment will dominate the market in 2021. Handheld devices used in MIS techniques aim to reduce superfluous tissue damage during surgical procedures, consequently shortening patient recovery period and lowering discomfort and side effects. The majority of MIS devices are single-use items.
Minimally Invasive Surgical Instruments Market By Application
- Cardiac
- Orthopedic
- Gastrointestinal
- Gynecological
- Vascular
- Thoracic
- Urological
- Dental
- Cosmetic
- Others
In terms of applications, the orthopedic segment held the biggest market share. Muscles are not severed or separated from the bone during orthopedic MIS operations. As a result, this technique has resulted in higher patient satisfaction and a speedier healing process. MIS is most commonly used in hip and knee replacement surgery. Hospitals and surgeons are looking for medical procedures that produce fewer operating and postoperative problems, as well as shorter hospital stays.
Minimally Invasive Surgical Instruments Market By End-user
- Hospitals & Clinics
- Ambulatory Surgical Centers
According to the minimally invasive surgical instruments market forecast, the ambulatory surgical center's segment is required to witness the quickest CAGR over the gauge time frame from 2022 to 2030. Currently, more than 5,500 Medicare-certified ambulatory surgical centers are available in the U.S. They offer medical procedures at lower costs and more noteworthy adaptability of booking when contrasted with doctor's facilities. The need for outpatient medical procedures is probably going to develop drastically in the pending years. The development in ambulatory surgical centers can be credited to a few variables incorporating a rise in minimally invasive procedures, improvement in the field of anesthesia, upgraded patient experiences, authoritative changes, and financial weights. To empower the utilization of these centers, Medicare deferred the part B deductible for beneficiaries.
Minimally Invasive Surgical Instruments Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
North America Dominates The Global Minimally Invasive Surgical Instruments Market
North America developed as the dominant regional segment in 2021 because of the high rate of accidental wounds and the rising geriatric populace. As indicated by a report distributed by the Organization for Economic Co-activity and Development (OECD), per capita human services use in the U.S. is higher than in the various nations on the planet. Likewise, patients in the U.S. have the capacity to pick strategies for treatment and additionally the suppliers. This is probably going to positively affect provincial market development.
Minimally Invasive Surgical Instruments Market Players
Some of the top minimally invasive surgical instruments market companies offered in the professional report include GE Healthcare, Medtronic, Stryker, Smith & Nephew, Abbott, NuVasive, Inc., CONMED, Zimmer Biomet, Siemens, and Intuitive Surgical.
Frequently Asked Questions
What is the size of global minimally invasive surgical instruments market in 2021?
The estimated value of global minimally invasive surgical instruments market in 2021 was accounted to be USD 26,486 Million.
What is the CAGR of global minimally invasive surgical instruments market during forecast period of 2022 to 2030?
The projected CAGR minimally invasive surgical instruments market during the analysis period of 2022 to 2030 is 9.6%.
Which are the key players operating in the market?
The prominent players of the global minimally invasive surgical instruments market are GE Healthcare, Medtronic, Stryker, Smith & Nephew, Abbott, NuVasive, Inc., CONMED, Zimmer Biomet, Siemens, and Intuitive Surgical.
Which region held the dominating position in the global minimally invasive surgical instruments market?
North America held the dominating minimally invasive surgical instruments market during the analysis period of 2022 to 2030.
Which region registered the fastest growing CAGR for the forecast period of 2022 to 2030?
Asia-Pacific region exhibited fastest growing CAGR for minimally invasive surgical instruments market during the analysis period of 2022 to 2030.
What are the current trends and dynamics in the global minimally invasive surgical instruments market?
Growing prevalence of chronic disorders and technological advancements in minimally invasive surgical instruments drives the growth of global minimally invasive surgical instruments market.
By application segment, which sub-segment held the maximum share?
Based on application, orthopedic segment is expected to hold the maximum share of the minimally invasive surgical instruments market.
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