Huge extensive innovations in robotic surgical systems are anticipated to enhance the growth in the minimally invasive surgery market. More than 900,000 procedures were conducted in the U.S. in 2020, with about 5,000 robotic platforms installed in hospitals across the country. For the past two to three years, approximately 35% of all colorectal surgery in the U.S. has been conducted robotically. The increase in the number of surgical procedures is increasing the growth of the market.
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Data Bridge Market Research analyses that the Global Minimally Invasive Surgery Market was valued at 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. The increasing demand for the minimally invasive surgery will provide potential opportunities for the market growth in the forecast period.
Increasing prevalence of chronic diseases is anticipated to drive the market's growth rate
Chronic diseases such as cancer, heart disease, and diabetes are the top causes of death and disability globally. Chronic disease restricts daily living activities, so they need medical attention. Several advanced surgical devices with ever-increasing advancement help in the detection and diagnosis of numerous diseases. For Instance, as per the American Cancer Society, it was stated that in 2020 in the U.S., about 1,806,590 new cases were diagnosed, and about 606,520 people died from the disease
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Surgical Devices, Monitoring and Visualization Systems, Laparoscopy Devices, Endosurgical Equipment and Electrosurgical Equipment), Application (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), Technology (Transcatheter Surgery, Laparoscopy Surgery, Non-Visual Imaging and Medical Robotics), End Users (Hospital Surgical Department, Outpatient Surgery Patients, Group Practices and Individual Surgeons)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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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 and 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.), and BEMA MEDICAL (Germany)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand
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Segment Analysis:
The global minimally invasive surgery market is segmented into four notable segments, which are product type, application, technology, and end user.
- On the basis of product type, global minimally invasive surgery market is segmented into surgical devices, monitoring and visualization systems, laparoscopy devices, endosurgical equipment and electrosurgical equipment.
The endosurgical equipment segment of product type segment is anticipated to dominate the minimally invasive surgery market
The endosurgical equipment segment is expected to dominate the global minimally invasive surgery market with 41.3% market share due to increasing incidence of chronic diseases.
- On the basis of application, global 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.
The orthopedic and spine surgery segment of application segment is anticipated to dominate the minimally invasive surgery market
The orthopedic and spine surgery segment is expected to dominate the global minimally invasive surgery market with 28.36% market share because of increasing demand of minimally invasive surgery and healthcare expenditure.
- On the basis of technology, global minimally invasive surgery market is segmented into transcatheter surgery, laparoscopy surgery, non-visual imaging and medical robotics. The laparoscopy surgery segment is expected to dominate the global minimally invasive surgery market with 40.9% market share because of growing technological advancement and increasing collaborations among the market players
- On the basis of end users, global minimally invasive surgery market is segmented into hospital surgical department, outpatient surgery patients, group practices and individual surgeons. The hospital surgical department segment is expected to dominate the global minimally invasive surgery market with 67.1% market share because of huge number of players in the market.
Major Players
Data Bridge Market Research recognizes the following companies as the major minimally invasive surgery market players in minimally invasive surgery market are 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 and 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.), and BEMA MEDICAL (Germany).
Market Development
- In 2021, Johnson & Johnson (U.S.) launched the ECHELON+ Stapler. The ECHELON+ Stapler is the company's latest addition to its market-leading ECHELON Powered Stapler lineup. The company portfolio has been associated with superior clinical and economic results, including fewer bleeding problems, reduced hospital costs, and increased efficiency across procedures, patient demographics, and nations.
- In 2019, Stereotaxis, Inc. collaborated with Osypka AG to improve robotic catheter technology. This collaboration will boost the robotic technology segment of Stereotaxis, Inc.
- In 2019, Titan Medical Inc. collaborated with Teleflex Incorporated to launch robotic litigation technology. This collaboration improves the advancement of its products in the market, leading to higher sales and revenue.
Regional Analysis
Geographically, the countries covered in the minimally invasive surgery market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
As per Data Bridge Market Research analysis:
North America is the dominant region in minimally invasive surgery market during the forecast period 2022 to 2029
North America dominates the minimally invasive surgery market because of the increasing technological advancements, enhanced government support for research activities, advanced healthcare infrastructure and, a growing amount of research and development expenditure.
Asia-Pacific is estimated to be the fastest growing region in minimally invasive surgery market the forecast period 2022 to 2029
Asia-Pacific is expected to grow during the forecast period of 2022 to 2029 due to the growth and expansion of the healthcare industry, increasing adoption of technologically advanced instrumentation, government funding policies for R&D, and growing research and development collaborations. Emerging economies such as China, South Korea, India, Singapore, and Japan are boosting the growth in the Asia-Pacific region.
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