Minimally-Invasive Surgery Devices Market by Product Type (Handheld Instruments, Inflation Devices, Cutter Instruments, Guiding Devices, Electrosurgical Devices, Auxiliary Devices, Monitoring & Visualization Devices), Application (Cardiac, Gastrointestinal, Orthopedic, Vascular, Gynecological, Urological, Other), End Use (Hospitals, Clinics, Others) and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits - Forecast 2024-2032

Industry : Healthcare | Pages : 190 Pages | Published On : May 2024

         
     
The Minimally-Invasive Surgery Devices Market is Valued USD 24.7 billion in 2022 and projected to reach USD 40.7 billion by 2030, growing at a CAGR of CAGR of 7.65% During the Forecast period of 2024-2032.

Minimally-Invasive Surgery Devices Market Size


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             2020                         2024-2032      

ReportDetails
Market Size ValueUSD 24.7 billion in 2022
Market Size ValueUSD 40.7 billion by 2030
CAGRCAGR of 7.65%
Forecast Period2024-2032
Base Year 2023
Historic Data2020
Segments CoveredType, Application, End User and Region
Geographics CoveredNorth America, Latin America, Europe, Asia-Pacific, Middle East & Africa

Major vendors in the global Minimally-Invasive Surgery Devices market: Abbott., EndoMed Systems GmbH, GE HealthCare, Intuitive Surgical, Medical Devices Business Services, Inc., Nuvasive, Inc., Strauss Surgical., Symmetry Surgical Inc., Siemens Healthcare Private Limited, TROKAMED GmbH, Zimmer Biomet, and Others.

Market Overview

The Minimally Invasive Surgery (MIS) devices market is currently witnessing a surge in growth due to a combination of factors that prioritize patient well-being and advancements in technology. Patients are increasingly seeking procedures that offer faster recovery times and less pain, making MIS a highly appealing option. This shift in patient preference is driving the demand for innovative devices that can enhance existing procedures or even enable entirely new minimally invasive approaches. One of the main drivers of this market is the growing preference for MIS surgeries. Traditional surgeries often involve large incisions, resulting in extended recovery periods and significant discomfort for patients. In contrast, MIS procedures utilize smaller access points and specialized instruments, leading to quicker healing and improved patient outcomes. This not only reduces hospital stays but also lowers healthcare costs, benefiting both patients and healthcare providers. The increasing prevalence of chronic diseases such as heart disease, cancer, and obesity is also contributing to the demand for more advanced surgical interventions. MIS techniques have proven to be well-suited for these conditions, offering surgeons greater precision and control while minimizing trauma to the patient. Technological advancements are playing a crucial role in driving the growth of the MIS devices market. The development of next-generation surgical robots with unparalleled precision and dexterity is revolutionizing the operating room. Furthermore, the creation of miniaturized instruments that can access hard-to-reach areas through tiny incisions is enabling the performance of complex procedures with a minimally invasive approach. However, the market does face certain challenges. Regulatory hurdles and high upfront costs associated with developing and introducing new devices can impede innovation. Additionally, ensuring proper surgeon training and establishing the necessary infrastructure for adopting these advanced technologies remains an ongoing effort, particularly in developing regions. Looking ahead, the future of the MIS devices market holds great potential for further growth and advancements.

Increasing demand for minimally invasive surgeries

The rising need for minimally invasive surgeries is driven by a variety of factors. Patients choose for these procedures because of decreased pain, quicker recovery times, and reduced infection risks. Healthcare providers value the accuracy, effectiveness, and less intrusive nature of these surgeries. Moreover, minimally invasive surgeries often lead to lower healthcare expenses, which appeals to insurance providers and healthcare payers. With the global population ageing and age-related diseases becoming more prevalent, the demand for minimally invasive surgeries is on the rise. Additionally, government initiatives and reimbursements promote the adoption of these advanced surgical techniques, supporting the growth of the market for minimally invasive surgery devices.

Market Dynamics

Drivers:

  • Increasing demand for minimally invasive surgeries
  • Rising prevalence of chronic diseases
  • Increased awareness among patients and healthcare professionals about the benefits of minimally invasive surgeries
  • Minimally invasive procedures offer a cost-effective solution

Opportunities:

  • Demand for new and innovative surgical devices
  • Increasing adoption of surgical robots
  • Expansion of the market into emerging economies

Demand for new and innovative surgical devices

The Minimally-Invasive Surgery Devices Market offers a significant opportunity for companies to meet the increasing demand for innovative surgical devices. Advancements in technology have created a need for cutting-edge devices that can improve the precision, safety, and effectiveness of minimally invasive procedures. Healthcare providers and patients are looking for better outcomes, fewer complications, and faster recovery times. Innovative devices have the potential to address a wider range of surgical procedures, meet unmet clinical needs, and expand the scope of minimally invasive surgeries. Developing new technologies can give companies a competitive advantage and help them capture a large market share. The growing demand for minimally invasive surgeries in emerging economies presents a vast opportunity for businesses to introduce their innovative devices in these markets. By tailoring their products to local requirements and preferences, they can tap into the expanding healthcare sector and contribute to improving surgical care in these regions. Collaborations between medical device manufacturers, researchers, and healthcare professionals can drive innovation and lead to the creation of groundbreaking devices that meet the changing needs of the invasive surgery Devices Market. Seizing these opportunities will not only boost market growth but also enhance patient outcomes and drive advancements in the field of surgery.

North America dominates the market for Minimally-Invasive Surgery Devices.

North America's dominance in the Minimally Invasive Surgery Devices Market can be attributed to various factors. The region boasts an advanced healthcare system, allowing for the early adoption of innovative technologies and devices. Moreover, the United States has a strong and well-established medical device industry, which promotes research and development, resulting in the creation of cutting-edge products. The high healthcare spending and insurance coverage in North America also play a crucial role in facilitating patient access to advanced surgical procedures. The population in this region tends to be more receptive to new technologies, further driving the demand for minimally invasive surgery devices. As a result, North America holds a leading position in the market. On the other hand, the Asia Pacific region is experiencing rapid growth in this market. With a large and growing population, as well as increasing disposable incomes, there is a significant increase in investments in healthcare infrastructure. This presents a promising outlook for the region to potentially become a future leader in the Minimally-Invasive Surgery Devices Market.

The Gynecological segment is anticipated to hold the Largest Market Share during the Forecast Period

In the global Minimally-Invasive Surgery Devices market, the Application segment comprises various categories such as Cardiac, Gastrointestinal, Orthopedic, Vascular, Gynecological, Urological and others. The gynaecological segment is expected to dominate the minimally invasive surgery devices market for several reasons. Minimally invasive gynaecological procedures offer numerous advantages over traditional open surgeries, such as reduced pain, shorter hospital stays, faster recovery, and minimal scarring. These benefits align with patients' growing preference for less invasive surgical options. The prevalence of gynaecological conditions like endometriosis, fibroids, and uterine cancer continues to rise globally. Minimally invasive surgical techniques have proven to be effective in treating these conditions with better outcomes and fewer complications. This increasing demand for treating gynaecological conditions will drive the growth of the market for minimally invasive surgery devices in this segment. Advancements in medical technology have led to the development of specialized devices and instruments tailored for gynaecological procedures. These innovative tools enable surgeons to perform complex surgeries with precision and ease, further boosting the adoption of minimally invasive techniques in gynaecology.

Major Segmentations Are Distributed as follows:

  • By Product Type
    • Handheld Instruments
    • Inflation Devices
    • Cutter Instruments
    • Guiding Devices
    • Electrosurgical Devices
    • Auxiliary Devices
    • Monitoring & Visualization Devices
  • By Application
    • Cardiac
    • Gastrointestinal
    • Orthopedic
    • Vascular
    • Gynecological
    • Urological
    • Other
  • By End Use
    • Hospitals
    • Clinics
    • Others
  • By Region
    • North America
      • US
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
      • Chile
      • Peru
      • Rest of Latin America
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Russia
      • BENELUX
      • CIS & Russia
      • Nordics
      • Austria
      • Poland
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Thailand
      • Indonesia
      • Malaysia
      • Vietnam
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Nigeria
      • Egypt
      • Israel
      • Turkey
      • Rest of Middle East & Africa

Recent Developments

  • In Jan 2023, PENTAX Medical, a subsidiary of HOYA Group, secured CE marks for two of its most recent innovations: the PENTAX Medical INSPIRA™ premium video processor and the i20c video endoscope series. Crafted with a focus on the requirements of healthcare providers, the cutting-edge video processor maintains compatibility with PENTAX Medical's recent endoscope models and introduces new standards when used alongside the new i20c video endoscope generation.
  • In Aug 2023, Orthofix Medical in the United States has officially launched the percutaneous module 2.0 for their 7D Flash navigation system. This new module enhances the capabilities of the 7D Flash neuronavigational system for minimally invasive spine surgery by introducing additional planning features. The 7D system was originally developed by 7D Surgical, which was acquired by SeaSpine in 2021 following the merger of Orthofix and SeaSpine earlier this year.

Minimally-Invasive Surgery Devices Market Report Gives Answers to Following Key Questions:

  • What will be the Minimally-Invasive Surgery Devices Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers of Minimally-Invasive Surgery Devices Market?
  • What are the main forces behind the worldwide Minimally-Invasive Surgery Devices Market? Which companies dominate the Minimally-Invasive Surgery Devices Market?
  • Which companies dominate the Minimally-Invasive Surgery Devices Market? Which business possibilities, dangers, and tactics did they embrace in the market?
  • What are the global Minimally-Invasive Surgery Devices industry's suppliers' opportunities and dangers in Minimally-Invasive Surgery Devices Market?
  • What is the Minimally-Invasive Surgery Devices industry's regional sales, income, and pricing analysis? In the Minimally-Invasive Surgery Devices Market, who are the distributors, traders, and resellers?
  • What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Minimally-Invasive Surgery Devices Market?
  • What are the main geographical areas for various industries that are anticipated to observe an astounding expansion in Minimally-Invasive Surgery Devices Market?
  • What are the dominant revenue-generating regions for Minimally-Invasive Surgery Devices Market, as well as regional growth trends?
  • By the end of the forecast period, what will the market size and growth rate be?
  • What are the main Minimally-Invasive Surgery Devices Market trends that are influencing the market's expansion?
  • Which key product categories dominate the Minimally-Invasive Surgery Devices Market? What are the Minimally-Invasive Surgery Devices Market’s main applications?
  • In the coming years, which Minimally-Invasive Surgery Devices Market technology will dominate the market?

 Reason to purchase this Minimally-Invasive Surgery Devices Market Report:

  • Determine prospective investment areas based on a detailed trend analysis of the global Minimally-Invasive Surgery Devices Market over the next years.
  • Gain an in-depth understanding of the underlying factors driving demand for different Minimally-Invasive Surgery Devices Market segments in the top spending countries across the world and identify the opportunities each offers.
  • Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
  • Identify the major channels that are driving the global Minimally-Invasive Surgery Devices Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
  • Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global Minimally-Invasive Surgery Devices Market.
  • Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top Minimally-Invasive Surgery Devices Market providers worldwide, including information about their products, alliances, recent contract wins, and financial analysis wherever available.

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Table and Figures

Methodology:

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Furthermore, our methodology incorporates technology-based research techniques, such as data mining, text analytics, and predictive modelling, to uncover hidden patterns, correlations, and trends within the data. This data-driven approach enhances the accuracy and reliability of our analysis, enabling us to make informed and actionable recommendations.

In addition, our analysts bring their industry expertise and domain knowledge to bear on the research process. Their deep understanding of market dynamics, emerging trends, and future prospects allows for insightful interpretation of the data and identification of strategic opportunities.

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The result of our 360° Research Methodology is a comprehensive and robust research report that empowers you to make well-informed business decisions. It provides a panoramic view of the industry landscape, helping you navigate challenges, seize opportunities, and stay ahead of the competition.

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