Global Chile Minimally Invasive Surgical Instruments Market by Application (Orthopedic, Cosmetic), by Device (Handheld Instruments, Electrosurgical Devices) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2020, the market for minimally invasive surgical instruments in Chile was worth USD 51.0million. It is projected to grow at an 8.9% compound annual growth rate (CAGR), from 2021 to 2028. Market growth can be attributed mainly to the country's improving healthcare infrastructure and easy access to the market. The market is also being driven by technological advances and the increase in the geriatric population. According to the Ministry of Foreign Affairs in Chile, 32.9 percent of the population will be 60 years old by 2050. This is an increase of 15.7 percent, and 10.3 percent for those 80 years and older.

Minimally invasive surgery (MIS), which offers significant advantages over traditional surgical approaches in a wide range of procedures, has gained popularity. Minimally invasive surgery offers key advantages such as reduced pain, greater accuracy, decreased risks of complications, faster recovery, shorter hospital stays, decreased infection risk, lower post-surgery complications and a decreased psychological impact. The rapid growth of minimally invasive surgery has been possible due to significant advances in medical technology.

Chile's government invests in health infrastructure. In 2018, the country revealed a USD 10 Billion hospital infrastructure plan for 2018-2022. According to a Chilean government plan, 75 new hospitals will soon be built. The Chilean government will invest a significant amount of money in hospital construction over the next years. This will increase the demand for medical supplies and innovative technologies. Chile is 95% dependent on imports for medical supplies and devices. Chile's medical device market is highly competitive. Many companies from all over the globe are able to find their way into Chile. Market growth will be boosted by improvements in health infrastructure and easier access to the market. In October 2019, Chileans were shocked by inequalities between the poor and the wealthy. Market growth in Chile is likely to be impeded by the inequality of healthcare access and longer waiting times for surgeries.

Due to the COVID-19 epidemic, healthcare has been faced with extraordinary challenges. The lockdown resulted in an increase of elective surgeries by one-fifth. However, COVID-19-related changes to health-care systems increased elective surgery wait times by as much as one-third. The extended wait times could lead to increased mortality and more complicated surgery.

Device Insights

In 2020, the market was dominated by handheld instruments. They held a 24.3% revenue share. This can be attributed to the increased number of procedures performed, their higher precision and versatility as well as high accuracy and affordability. As these devices become more user-friendly, surgeons are increasingly adopting technological advances in handheld surgical instruments. Technical advancements and the increasing use of handheld surgical tools in minimally invasive surgery are driving the market for handheld tools. Smith & Nephew, for example, launched CORI in July 2021. This handheld robotic platform allows surgeons to control the entire process.

The fastest expected growth rate for the electrosurgical devices market is 9.6%. Because these devices can be used for many surgical specialties, they have seen a significant increase in their use. They are precise and allow for low voltage cut modes to be chosen and high voltage coagulation modes to be preferred. Segment growth will be boosted by the low cost and short recovery time.

Application Insights

In 2020, the orthopedic segment accounted for 23.1% of all revenue. Minimally invasive surgery (MIS), is gaining popularity in orthopedics because of its advantages, such as minimal blood loss, soft tissue damage, a shorter turnaround time and quicker rehabilitation with fewer scars. Because of technological advances, minimally invasive orthopedic surgery is quickly becoming the standard in orthopedics. This approach has been proven to be especially effective in joint replacement, bone reconstruction and limb realignment.

The highest expected CAGR for the cosmetic market is during the forecast period. The popularity of Cosmetic Surgery procedures has attracted a lot attention in recent years. According to the American Society of Plastic Surgeons in the United States, 17.7 million cosmetic and surgical procedures were performed in 2018. This number has been steadily increasing over the past five years with no sign of slowing. The introduction of technologically advanced minimally invasive equipment such as injectables and lasers has made it easier to expand the market.

Market Share Insights & Key Companies

The market is highly competitive due to the large number of manufacturers. Major companies have a variety of growth strategies to gain a substantial share of the market. These include new product development, product differentiation, financing, and international strategy. Abbott's clip delivery system was launched in November 2020. This device can be used to treat mitral regurgitation. This device allows surgeons to access cutting-edge technology and provides a life-saving option for patients suffering from mitral regurgitation due to a heart defect. The following are some of the most prominent players in Chile's minimally invasive surgical instrument market:

• Medtronic

• Stryker

• Smith & Nephew

• Abbott

• CONMED

• Zimmer Biomet

• Intuitive Surgical, Inc.

Up Market Research published a new report titled “Chile Minimally Invasive Surgical Instruments Market research report which is segmented by Application (Orthopedic, Cosmetic), by Device (Handheld Instruments, Electrosurgical Devices), By Players/Companies Intuitive Surgical Inc, Zimmer Biomet, Stryker, Smith & Nephew, Abbott, CONMED, Medtronic”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Chile Minimally Invasive Surgical Instruments Market Report Segments:

The market is segmented by Application (Orthopedic, Cosmetic), by Device (Handheld Instruments, Electrosurgical Devices).

Chile Minimally Invasive Surgical Instruments Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Chile Minimally Invasive Surgical Instruments Market

Overview of the regional outlook of the Chile Minimally Invasive Surgical Instruments Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Chile Minimally Invasive Surgical Instruments Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Chile Minimally Invasive Surgical Instruments Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Orthopedic

                2. Cosmetic

                1. Handheld Instruments

                2. Electrosurgical Devices

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Chile Minimally Invasive Surgical Instruments Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Chile Minimally Invasive Surgical Instruments Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.