Advanced technologies play a pivotal role in driving the growth of the minimally invasive surgery market. Innovations such as robotic-assisted surgery, laparoscopic imaging systems, and advanced surgical instruments have revolutionized surgical procedures, enabling surgeons to perform complex surgeries with greater precision and minimal invasiveness. These technologies offer benefits like reduced trauma, faster recovery, shorter hospital stays, and improved patient outcomes. As healthcare providers strive for better patient care and cost-effective solutions, the adoption of advanced technologies in minimally invasive surgery continues to rise, propelling market growth and transforming the landscape of surgical interventions.
According to Data Bridge Market Research, the Minimally Invasive Surgery Market accounted for USD 38,069.40 million in 2021 and is expected to reach USD 73,116.25 million by 2029, registering a CAGR of 8.50% during the forecast period of 2022-2029.
“Increased funding drives the market of minimally invasive surgery”
The growth of the minimally invasive surgery market is driven by increased funding from private and government organizations in healthcare infrastructure development. These investments focus on upgrading healthcare facilities, acquiring advanced surgical technologies, and training medical professionals in minimally invasive techniques. The funding enables the expansion of minimally invasive surgical services, enhances patient access to advanced treatments, and improves healthcare outcomes. Moreover, the financial support encourages research and development activities, leading to continuous innovation in surgical instruments and techniques. Furthermore, increased funding plays a pivotal role in driving market growth by facilitating the adoption and advancement of minimally invasive surgery practices.
What restraints the growth of the minimally invasive surgery market?
“The high cost associated with minimally invasive surgical procedures”
The high cost associated with minimally invasive surgical procedures acts as a restraint in the market. While these procedures offer numerous benefits such as reduced hospital stay and faster recovery, their cost can be prohibitive for some patients and healthcare systems. The expenses related to specialized equipment, training, and maintenance contribute to the overall higher cost. This limits accessibility and affordability, hindering the adoption of minimally invasive surgeries and potentially obstructing market growth, especially in regions with limited healthcare resources and budget constraints.
Segmentation: Minimally Invasive Surgery Market
The minimally invasive surgery market is segmented on the basis of product type, application, technology, and end users.
- On the basis of product type, the minimally invasive surgery market is segmented into surgical devices, monitoring and visualization systems, laparoscopy devices, endosurgical equipment, and electrosurgical equipment.
- On the basis of application, the minimally invasive surgery market is segmented into gastrointestinal surgery, gynecology surgery, urology surgery, cosmetic surgery, thoracic surgery, vascular surgery, orthopedic and spine surgery, bariatric surgery, breast surgery, cardiac surgery, adrenalectomy surgery, anti-reflux surgery, cancer surgery, cholecystectomy surgery, colectomy surgery, colon and rectal surgery, ear, nose and throat surgery and obesity surgery.
- On the basis of technology, the minimally invasive surgery market is segmented into trans catheter surgery, laparoscopy surgery, non-visual imaging, and medical robotics.
- On the basis of end users, the minimally invasive surgery market is segmented into hospital surgical department, outpatient surgery patients, group practices, and individual surgeons.
Regional Insights: North America dominates the minimally invasive surgery market
North America's dominance in the minimally invasive surgery market can be attributed to two key factors. One key factor is the region's rise in healthcare spending, which has enabled greater adoption of advanced surgical techniques. Another key factor is the increasing prevalence of chronic disorders within the region, which has necessitated the use of minimally invasive procedures, driving market growth.
In Asia-Pacific (APAC), the minimally invasive surgery market is expected to experience significant growth. Factors such as the increased cases of road crashes leading to traumatic injuries, along with the region's rapidly developing economy, contribute to the demand for minimally invasive surgical procedures. The rising focus on healthcare infrastructure development and improving access to advanced medical treatments further drives the market's growth in the APAC region.
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Recent Developments in Minimally Invasive Surgery Market
- In March 2021, Ethicon, a subsidiary of Johnson & Johnson Medical Devices Companies, introduced the ECHELON+ Stapler with GST Reloads. This innovative powered surgical stapler has been designed to improve staple line security and reduce complications by providing more uniform tissue compression. By leveraging advanced technology, the ECHELON+ Stapler offers enhanced precision and control during surgical procedures. This development showcases the commitment of Ethicon to continually innovate and improve surgical techniques, ultimately benefiting patients and healthcare professionals alike.
The Prominent Key Players Operating in the Minimally Invasive Surgery Market Include:
- Stryker (U.S.)
- CONMED Corporation (U.S.)
- Intuitive Surgical (U.S.)
- NuVasive, Inc. (U.S.)
- Fortimedix Surgical (Netherlands)
- Microline Surgical (U.S.)
- Cirtec (U.S.)
- OmniGuide Holdings, Inc. (U.S.)
- Arthrex, Inc. (Germany)
- Eximis Surgical, Inc. (U.S.)
- B. Braun Melsungen AG (Germany)
- Medtronic (Ireland)
- Johnson & Johnson Services, Inc. (U.S.)
- Abbott (U.S.)
- Zimmer Biomet (U.S.)
- Smith+Nephew (U.K.)
- Applied Medical Resources Corporation (U.S.)
- Silex Medical, LLC (U.S.)
- Freudenberg Medical (U.S.)
- BEMA MEDICAL (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of minimally invasive surgery market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Minimally Invasive Surgery Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
