Minimally Invasive Surgery Market To Find Better Growth with US$ 113,866.8 Million By 2027 | CAGR: 10.7%: Coherent Market Insights
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Global Minimally Invasive Surgical Instrument Market, by Product Type (Handheld Instruments, Electrosurgical Instruments, Guiding Devices, Inflation Devices, and Monitoring Devices), By Application (Cosmetic Surgery, Urology, Gynecology, Ophthalmology, Gastrointestinal Surgery, Cardiovascular Surgery, Respiratory Surgery, and Others), By End User (Hospital, Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 50,599.8 Mn in 2019 and is estimated to exhibit a CAGR of 10.7% over the forecast period (2018-2026), as highlighted in a new report published by Coherent Market Insights.
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Global minimally invasive surgical instrument market is expected to witness significant growth over the forecast period. The growth of the market is attributed to continuous technological advances in minimally invasive surgical instruments by market players for ease of patients as well as surgeons during the surgical procedure. These instruments are equipped with high end cameras, imaging technology, robotics, among others. For instance, Olympus Corporation and Sony in partnership launched an Ultra-HD surgical endoscopy system incorporating 4K technology 2015, in Japan and Europe, soon after launch of 4K recorder in 2016. The 4K camera head uses the Sony Exmor R CMOS image sensor to create high-sensitivity and low-noise images. It also features one-touch auto-focus function that instantly focuses the image at the press of a button, which helps to reduce duration of surgery. The advanced laparoscopes, with employment of 4K cameras have further eliminated the requirement for the surgeon to look into the binocular eyepiece, minimizing discomfort and stress. Moreover, for cauterization, radiofrequency ablation systems and argon-enhanced electrosurgery allow efficient current delivery for improved outcomes and decreased operation time. Lasers are also utilized in some cases for ablating tissues or tumors.
Moreover, market players are focusing on developing more innovative and convenient minimally invasive instruments, as they involve less incisions, pain, and aids in faster recovery. For instance, staplers and endoscopic suturing devices such as the MicroCutter XCHANGE by Cardica, have allowed the performance of operations such as hemostatic bowel transection, closure of gastrostomy and sudden anastomosis with increasing reliability, and have provided better performance compared with manual stitching or clips.
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Additionally, robotics offer unmatched solutions for minimally invasive surgeries. In robotic-assisted surgery, instruments are not moved through necessary controllers and software and not directly by the surgeon. For instance, the robotic surgical system da Vinci SP developed by Intuitive Surgical, which is the first and only console for teleoperated surgery that received the Food and Drug Administration (FDA) approval. Moreover, it is increasingly adopted in hospitals and clinics, globally for surgeries that range from urological to cardiac to abdominal surgery.
There are many robotic minimally invasive surgical instruments in pipeline, which is expected to be launched in 2019 and 2020. For instance, the companies’ joint-venture, Verb Surgical, is aiming to launch its surgical robotic instruments in 2020, which can connect to the internet and learn from others. Medtronic PLC., also has a surgical robot expected to be launched in 2019.
Browse 26 Market Data Tables and 24 Figures spread through 174 Pages and in-depth TOC on “Minimally Invasive Surgical Instrument Market, By Product Type (Handheld Instruments, Electrosurgical Instruments, Guiding Devices, Inflation Devices, and Monitoring Devices), By Application (Cosmetic Surgery, Urology, Gynecology, Ophthalmology, Gastrointestinal Surgery, Cardiovascular Surgery, Respiratory Surgery, and Others), By End User (Hospital, Clinics, and Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2026”
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Key Takeaways of the Minimally Invasive Surgical Instruments Market:
- The global minimally invasive surgical instruments market is expected to exhibit a CAGR of 10.7% over the forecast period (2018-2026), attributed to increasing research & development and demand for minimally invasive surgical instruments in ambulatory surgeries and outpatient surgeries
- Among product type, handheld instruments segment accounted for largest market share in 2017, in terms of revenue. Moreover, electrosurgical instruments segment among product type is expected to exhibit highest CAGR over the forecast period. The key players are focusing on developing more innovative devices, which can benefit both surgeons and patients in a cost-effective manner, coupled with less pain and faster recovery.
- Key players operating in the global minimally invasive surgical instrument market include Medtronic Plc., Ethicon Inc., Aesculap Inc., Stryker Corporation, B. Braun Melsungen Ag and Smith & Nephew Plc. Other players in this market are ConMed Corporation, Abbott Laboratories, Applied Biomedical Resources Corporation, Boston Scientific Corporation, Microline Surgical, Alcon Laboratories Inc., and Zimmer Biomet Holdings Inc.
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