16 October 2019
Visiongain has launched a new pharma report ‘’Minimally Invasive Surgical Instruments Market Report 2020-2030’’ by Product (Guiding Devices, Handheld Instruments, Inflation Systems, Electrosurgical Instruments, Auxiliary Instruments, Cutter Instruments), Application (Cardiothoracic Surgery, Gastrointestinal Surgery, Vascular Surgery, Urological Surgery, Gynecological Surgery, Cosmetic/Bariatric Surgery, Orthopedic Surgery, Other Types of Surgeries), End User (Government Hospitals, Private Hospitals, Surgical Clinics, Academics and Research), and Geography.
The global Minimally Invasive Surgical Instruments market is anticipated to grow at a lucrative CAGR of 8.3% and anticipated to surpass USD 36 Billion by 2030.
Minimally invasive surgery (MIS) curtails the number of incisions performed in surgery and thus reduces trauma imposed on the body. This kind of surgery causes less scarring, less painful and requires fewer hospital stays. Constant technological innovations, an increase in chronic disease incidence and an increase in medical tourism in developing nations are driving market growth. However, it is anticipated that unsuitable sterilization procedures and bad performance-related quality assurance will restrict the market growth.
Increasing demand for minimally invasive procedures combined with growing lifestyle disorders is anticipated to drive the worldwide market for MIS devices over the forecast period. MIS has led to considerably reduced hospital costs and complications. Such factors are anticipated to fuel the implementation of MIS in the coming years.
In 2018, in terms of revenue, the handheld instruments segment dominated the MIS instruments market. Handheld instruments aim to reduce the quantity of harm to foreign tissues, thereby speeding up recovery time for patients and decreasing discomfort and side effects.
North America holds the majority of the market share followed by Europe and will continue to dominate in the future as a result of a high rate of accidents and growing geriatric population. According to the Organization for Economic Co-operation and Development, per capita, healthcare expenditure in the United States is higher as compared to other countries in the world. Also, patients in the U.S. can choose methods of treatment as well as providers. This is likely to have a positive impact on the growth of minimally invasive surgical instruments in the region.
Asia Pacific region is anticipated to experience the highest growth in terms of CAGR over the forecast period owing to the rising geriatric population in Japan and China, road accidents, and developing economies are expected to promote the emergence of MIS procedures in the Asia Pacific. The regional demand for minimally invasive procedures is largely driven by growing medical tourism, especially for cosmetic surgeries.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations and launching new products to strengthen their position in the global minimally invasive surgical instruments market. Companies are also increasing their R&D, distribution, and management facilities to expand their business and to hold a competitive edge in the market.
The comprehensive market report features companies such as Abbott Laboratories Inc., Applied Biomedical Resources Corporation, Aesculap, Inc., Boston Scientific Corporation, B. Braun Melsungen AG, Stryker Corporation, CONMED Corporation, Smith & Nephew Plc., Ethicon, Inc., Medtronic Plc., Microline Surgical, Inc., and Zimmer Biomet Holdings, Inc. among other prominent players. Also the research study offers market estimation and forecast for the period ranging 2020–2030 for global markets such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Benelux, Russia, Poland, India, Japan, China, Australia, ASEAN, GCC, South Africa and North Africa.
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