Global Minimally Invasive Surgical Instruments Market, By Product (Handheld Instruments, Inflation Devices, Surgical Scopes, Cutting Instruments, Guiding Devices, Electrosurgical & Electrocautery Instruments, Other Instruments), Surgery Type (Cardiothoracic Surgery, Gastrointestinal Surgery, Orthopedic Surgery, Gynecological Surgery, Cosmetic & Bariatric Surgery, Urological Surgery, Other Surgeries), End User (Hospitals, Ambulatory Surgery Centers & Clinics) - Industry Trends and Forecast to 2030.
Minimally Invasive Surgical Instruments Market Analysis and Size
The global minimally invasive surgical instruments market is rising steadily as a result of the rising healthcare expenditure and new technology penetration. Growing R & D activities is considerably driving the global minimally invasive surgical instruments market. Strategic initiatives by the key market players are one of the elements driving the market's rapid rise. Market players are expanding their product offerings in order to acquire a competitive advantage.
Data Bridge Market Research analyses that the global minimally invasive surgical instruments market which was USD 21,312.40 Million in 2022, would rocket up to USD 37,155.70 Million by 2030, and is expected to undergo a CAGR of 7.2% during the forecast period. This indicates the market value. “Handheld instruments” dominates the product segment of the global minimally invasive surgical instruments market owing to the increasing investment in healthcare. 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 depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Minimally Invasive Surgical Instruments Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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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 (Handheld Instruments, Inflation Devices, Surgical Scopes, Cutting Instruments, Guiding Devices, Electrosurgical & Electrocautery Instruments, Other Instruments), Surgery Type (Cardiothoracic Surgery, Gastrointestinal Surgery, Orthopedic Surgery, Gynecological Surgery, Cosmetic & Bariatric Surgery, Urological Surgery, Other Surgeries), End User (Hospitals, Ambulatory Surgery Centers & Clinics)
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa
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Market Players Covered
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Medtronic (Ireland), Medical Devices Business Services, Inc.(U.S.), Stryker (U.S.), Smith & Nephew (UK), Abbott (U.S.), Applied Biomedical, LLC (U.S.), California Resources Corporation (U.S.), Microline Surgical (U.S.), Zimmer Biomet (U.S.), B. Braun Melsungen AG (Germany), CONMED Corporation (U.S.), HOYA Corporation (Japan), Applied Medical Resources Corporation (U.S.), Aesculap, Inc.(U.S.), Johnson & Johnson Services, Inc.(U.S.), Karl Storz Gmbh & Co. Kg (Germany), Novatract Surgical Inc.(U.S.), REMA Medizintechnik GmbH (Germany), Teleflex Incorporated (U.S.), Boston Scientific Corporation (U.S.), Given Imagin Ltd.(Israel)
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Market Opportunities
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Market Definition
Minimally invasive surgical instruments refer to the specialized surgical instruments and devices used in minimally invasive surgeries (MIS). Minimally invasive surgery, also known as laparoscopic or keyhole surgery, involves performing surgical procedures through small incisions or natural body openings rather than large open incisions.
Global Minimally Invasive Surgical Instruments Market Dynamics
Drivers
Advantages of Minimally Invasive Surgery
Minimally invasive procedures offer several benefits over traditional open surgeries, including reduced trauma, less scarring, faster recovery times, shorter hospital stays, and decreased post-operative complications. These advantages drive the demand for minimally invasive surgical instruments.
Increasing Prevalence of Chronic Diseases
The rising prevalence of chronic diseases, such as cardiovascular disorders, cancer, obesity, and orthopedic conditions, necessitates surgical interventions. Minimally invasive surgeries offer less invasive treatment options for these conditions, contributing to the demand for specialized instruments.
Opportunities
Technological Innovations
Continued advancements in surgical instruments, such as the development of miniaturized devices, advanced imaging technologies, and robotic-assisted systems, provide opportunities for product innovation and market expansion.
Furthermore, the rising collaboration, merger, and acquisition among the market players will extend profitable opportunities for the market players in the forecast period of 2023 to 2030. Additionally, the rising number of market players will further expand the market's growth rate in the future.
Restraints/Challenges
On the other hand, the high cost associated with product manufacturing is expected to obstruct market growth. Also, the disruption in the supply chain industry has the potential to challenge the market’s growth. Also, the lack of favorable reimbursement scenarios and technology penetration in the developing economies and lack of suitable infrastructure are projected to challenge the market in the forecast period of 2023-2030.
This minimally invasive surgical instruments market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the minimally invasive surgical instruments market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- Medtronic introduced the Hugo robotic-assisted surgery system, designed to enhance minimally invasive surgery by providing surgeons with advanced visualization, precision, and ergonomics.
- The company also launched the Signia Stapling System, a smart surgical stapling platform that incorporates real-time feedback and adaptive firing technology to improve stapling accuracy and patient outcomes.
Global Minimally Invasive Surgical Instruments Market Scope
The global minimally invasive surgical instruments market is segmented on the basis of product, surgery type, and end user. The growth amongst these segments will help you analyse meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Handheld Instruments
- Inflation Devices
- Surgical Scopes
- Cutting Instruments
- Guiding Devices
- Electrosurgical & Electrocautery Instruments
- Other Instruments
Surgery Type
- Cardiothoracic Surgery
- Gastrointestinal Surgery
- Orthopedic Surgery
- Gynecological Surgery
- Cosmetic & Bariatric Surgery
- Urological Surgery
- Other Surgeries
End User
- Hospitals
- Ambulatory Surgery Centers
- Clinics
Global Minimally Invasive Surgical Instruments Market Regional Analysis/Insights
The global minimally invasive surgical instruments market is analyzed, and market size insights and trends are provided by product, surgery type, and end user, as referenced above.
The countries covered in the global minimally invasive surgical instruments market report are U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa.
North America is expected to dominate the market due to factors including rising healthcare costs, increased R & D and trending technological advancements.
Asia-Pacific is expected to witness the fastest growth during the forecast period of 2023 to 2030 because of the rising strategic initiatives by the key market players and favourable government initiatives in the region.
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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The global minimally invasive surgical instruments market also provides you with a detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kind of products for the global minimally invasive surgical instruments market, impact of technology using lifeline curves and changes in healthcare regulatory scenarios and their impact on the global minimally invasive surgical instruments market. The data is available for the historic period 2015-2021
Competitive Landscape and Global Minimally Invasive Surgical Instruments Market Share Analysis
The global minimally invasive surgical instruments 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global minimally invasive surgical instruments market.
Some of the major players operating in the global minimally invasive surgical instruments market are:
- Medtronic (Ireland)
- Medical Devices Business Services, Inc.(U.S.)
- Stryker (U.S.)
- Smith & Nephew (UK)
- Abbott (U.S.)
- Applied Biomedical, LLC (U.S.)
- California Resources Corporation (U.S.)
- Microline Surgical (U.S.)
- Zimmer Biomet (U.S.)
- B. Braun Melsungen AG (Germany)
- CONMED Corporation (U.S.)
- HOYA Corporation (Japan)
- Applied Medical Resources Corporation (U.S.)
- Aesculap, Inc.(U.S.)
- Johnson & Johnson Services, Inc.(U.S.)
- Karl Storz Gmbh & Co. Kg (Germany)
- Novatract Surgical Inc.(U.S.)
- REMA Medizintechnik GmbH (Germany)
- Teleflex Incorporated (U.S.)
- Boston Scientific Corporation (U.S.)
- Given Imagin Ltd.(Israel)
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