Minimally Invasive Surgical Instruments Market 2020 Industry Size, Trends, Growth Channels, Segmentation and Forecasts to 2026 | CAGR 8.66%
Pune, Maharashtra, India, January 11 2021 (Wiredrelease) Brandessence Market Research and Consulting Pvt ltd –:Minimally Invasive Surgical Instruments Market is valued at USD 19.39 Billion in 2018 and expected to reach USD 34.67 Billion by 2025 with the CAGR of 8.66% over the forecast period.
Higher acceptance rate of minimally-invasive surgeries over traditional surgeries, increasing prevalence of lifestyle-related and chronic disorders, and technological advancements are some factors driving the growth of the market.
Scope of Minimally Invasive Surgical Instruments Market-
Minimally-invasive surgical devices refer to electrosurgical systems, robot-assisted surgical systems, and surgical equipment, which are used during the minimally-invasive procedure. Minimally-invasive surgeries (MIS) cause less post-operative pain, and hence, patients receive smaller dosages of pain killers. As there are minimal cuts or stitches involved, the hospital stay is relatively shorter, and patients need not visit the hospital frequently. Traditional open surgeries involve long incisions made through the muscles, and these muscles take a considerable amount of time to heal, whereas MIS procedures involve smaller incisions, leading to quicker recovery. In addition, the body scars involved in MIS are barely noticeable. The main advantage of MIS over the traditional open surgeries is the higher precision due to video-assisted equipment, which produces a better and magnified image of the organs or body parts being operated. These surgeries are gaining wider acceptance among the geriatric population, due to the relatively shorter recovery time.
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Minimally Invasive Surgical Instruments Companies
Top key players covered in Minimally Invasive Surgical Instruments Market are,
Medtronic Plc. Aesculap, Inc. Braun Melsungen AG Stryker Corporation Smith & Nephew Plc. Abbott Laboratories Inc. Boston Scientific Corporation CONMED Corporation Microline Surgical, Inc. Zimmer Biomet Holdings, Inc.
Minimally Invasive Surgical Instruments market report is segmented based on device, application, end-use and by regional & country level. Based upon device, minimally invasive surgical instruments market is classified into handheld instruments, inflation devices, cutter instruments, guiding devices, electrosurgical devices, auxiliary devices, and monitoring & visualization devices. Based upon application, minimally invasive surgical instruments market is classified into cardiac, gastrointestinal, orthopedic, vascular, gynecological, urological, thoracic, cosmetic, dental and others. Based upon end-use, minimally invasive surgical instruments market is classified into hospitals & clinics and ambulatory surgical centers.
The regions covered in this minimally invasive surgical instruments market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of minimally invasive surgical instruments is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Minimally Invasive Surgical Instruments Market Dynamics –
Increase in the geriatric population and significant increase in the number of surgeries performed on the section of the population has boosted the growth of market. The types of surgeries performed include orthopedic surgeries, cardiac surgeries, etc. Minimally-invasive surgery has gained popularity for benign diseases, and has proved its safety and efficacy over traditional methods, due to which, it has gained substantial attention in the past several years. According to the data published by Centers for Disease Control and Prevention (CDC), there were 32.3 million of visits to physician offices, with diseases of the digestive system as the primary diagnosis in the United States. However, the uncertain regulatory framework in the medical device industry is a major factor restraining the growth of this market during the forecast period. Nonetheless, technological innovations in the field of minimally invasive surgery and increase in the occurrence of medical tourism in the developing countries serve as bright opportunities in the minimally invasive surgical instruments market.
Minimally Invasive Surgical Instruments Market Regional Analysis –
North America is dominating the Minimally Invasive Surgical Instruments market. The factors attributed to the high growth of the region are the increasing number of neurological disorders and the growing adoption of minimally-invasive surgeries in the region. More than 65 million American citizens suffer from lower back problems, every year. Neurosurgery and skull-based surgery are undergoing a paradigm shift. Furthermore, advancements in various surgical devices from established key players, in the United States, are likely to drive the market growth in North America.
Asia-Pacific is growing at a highest CAGR over forecast period due to rising geriatric population in Japan and China, road crashes, and developing economy are expected to promote the emergence of MIS procedures in Asia Pacific. According to World Health Organization, traffic accident claim about 260,000 deaths on the mainland China each year, of which with 60 per cent are vulnerable road users such as pedestrians, cyclists, and motorcyclists. Additionally, the demand for minimally invasive procedures in this region is mainly driven by rising medical tourism mainly for cosmetic surgeries.
Minimally Invasive Surgical Instruments Market Segmentation –
By Device:- 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 & clinics, Ambulatory surgical centers
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