Asia-Pacific Minimally Invasive Surgery Market, By Product Type (Surgical Devices, Monitoring & Visualization Systems, Laparoscopy Devices, Endosurgical Equipment and Electrosurgical Equipment), Application (Gastrointestinal Surgery, Gynecology Surgery, Urology Surgery, Cosmetic Surgery, Thoracic Surgery, Vascular Surgery, Orthopedic & Spine Surgery, Bariatric Surgery, Breast Surgery, Cardiac Surgery, Adrenalectomy Surgery, Anti-Reflux Surgery, Cancer Surgery, Cholecystectomy Surgery, Colectomy Surgery, Colon & Rectal Surgery, Ear, Nose & 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), Country (China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Asia-Pacific Minimally Invasive Market
Minimally invasive surgery market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the Asia-Pacific minimally invasive surgery market is growing with a CAGR of 10.1% in the forecast period of 2021 to 2028 and is expected to reach USD 11,080.10 million by 2028. Rise in demand for minimally invasive surgical procedures and technological advancement in minimally invasive surgeries are the major drivers which propelled the demand of the market in the forecast period.
Minimally invasive surgery is a surgical procedure that is performed through minuscule incisions rather than a large opening. The minimally invasive surgery has numerous advantages such as smaller incisions, swift recovery, less pain and reduced hospital stay. In minimally invasive surgery, small incisions are made by the surgeons in the skin, generally a few millimetres long. After that an endoscope is inserted (a long, thin tube fixed with a camera and light) into one of the incisions. Images from the endoscope are displayed to monitors in the operating room to view clear and magnified pictures of the area needing surgery.
Rise in incidence of chronic disease and increased number of surgical procedure is expected to boost the demand for minimally invasive surgery market. High installation cost is expected to act as restrain for the growth of the minimally invasive surgery market. Increase in launch of innovative products and development of teleoperated surgical operated system is expected to provide opportunity for the minimally invasive surgery market. High installation cost is expected to pose a challenge to the minimally invasive surgery market.
The minimally invasive surgery market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Minimally Invasive Surgery Market Scope and Market Size
The minimally invasive surgery market is segmented on the basis of product type, application, technology and end users. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, the minimally invasive surgery market is segmented into surgical devices, monitoring & visualization systems, laparoscopy devices, endosurgical equipment and electrosurgical equipment. In 2021, surgical devices segment is expected to dominate the market due to surge in geriatric population in Asian countries such as China and India.
- 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 & spine surgery, bariatric surgery, breast surgery, cardiac surgery, adrenalectomy surgery, anti-reflux surgery, cancer surgery, cholecystectomy surgery, colectomy surgery, colon & rectal surgery, ear, nose & throat surgery and obesity surgery. In 2021, orthopedic & spine surgery segment is expected to dominate the market because of high incidences of spinal and orthopaedics injuries or diseases in the elderly patients.
- On the basis of technology, the minimally invasive surgery market is segmented into transcatheter surgery, laparoscopy surgery, non-visual imaging and medical robotics. In 2021, laparoscopy surgery segment is expected to dominate the market because of better clinical outcome and technological advancement in Asia-Pacific region.
- 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. In 2021, hospital surgical department segment is expected to dominate the market because of rise in aging population which increases the requirement for hospital surgical department in Asia-Pacific.
Minimally Invasive Surgery Market Country Level Analysis
The minimally invasive surgery market is analysed and market size information is provided by the country, product type, application, technology and end users as referenced above.
The countries covered in the minimally invasive surgery market report are the China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, and rest of Asia-Pacific.
Asia-Pacific is expected to dominate the market due to the high adoption of minimally invasive surgery for the numerous surgery procedures. China is expected to dominate in dominating Asia-Pacific market due to increasing government initiatives to increase awareness about robotic assisted surgeries.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increasing Partnership and New Product Launch in Minimally Invasive Surgery is Creating New Opportunities for Players in the Minimally Invasive Surgery Market
The minimally invasive surgery market also provides you with detailed market analysis for every country growth in particular industry with minimally invasive surgery sales, impact of advancement in the minimally invasive surgery and changes in regulatory scenarios with their support for the minimally invasive surgery market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Minimally Invasive Surgery Market Share Analysis
The minimally invasive surgery market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to minimally invasive surgery market.
The major players covered in the report Stryker, CONMED Corporation, Intuitive Surgical, NuVasive, Inc., Fortimedix Surgical, Microline Surgical, Cirtec, OmniGuide Holdings, Inc., Arthrex, Inc., Eximis Surgical, Inc., B. Braun Melsungen, AG, Medtronic, Johnson & Johnson Services, Inc., Abbott, Zimmer Biomet, Smith & Nephew, Applied Medical Resources Corporation, Silex Medical, LLC, Freudenberg Medical, and BEMA MEDICAL among other domestic and Asia-Pacific players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the minimally invasive surgery market.
- In December 2020, Abbott launched a minimally-invasive heart valve repair device in India to treat mitral regurgitation. It will help restore the heart’s ability to pump oxygenated blood more efficiently and help improve the company’s revenue
- In September 2020, Smith & Nephew announced the launch of HELOCOIL KNOTLESS suture anchor and enhanced its product portfolio in the line of advanced healing solutions for rotator cuff repair. This will help the company to increase its revenue in the coming years
Collaboration, joint ventures and other strategies by the market players is enhancing the company market in the minimally invasive surgery market which also provides the benefit for organisation to improve their offering for minimally invasive surgery equipment.