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

Summary of the Report

In 2018, the market for minimally invasive surgical instruments was worth USD 20.0 billion. It is expected to grow at a CAGR 9.85% during the forecast period. The field of minimally invasive surgery has seen a revolution in the use of surgical robots. Their acceptance by surgeons worldwide is growing. Minimally invasive surgery is much cheaper than conventional open procedures. This results in significant value for both the patient and insurance companies. This trend will likely continue over the next few years.

Minimally invasive procedures are less traumatizing than traditional open surgeries. Traditional laparoscopic surgeries can be difficult and traumatic. The minimally invasive laparoscopic camera is inserted through small incisions. Specialized smaller instruments are used for the operation. Patients can heal faster after minimally invasive surgery.

Market for minimally invasive surgical instruments (MIS) is continually evolving based on new technological advancements in cardiac, orthopaedic, neurological, oral and other surgical procedures. The constant technological advances in this field have led to higher-quality instruments which allow surgeons to perform surgical procedures efficiently and without risking patient safety. The new product designs allow for greater control and precision in the operating room.

Imaging technology and optical engineering are used to visualize tissue handling in difficult-to-reach places. The MIS industry is seeing significant progress in virtual reality (VR) technology. VR allows for the evaluation of different conditions and treatment options on virtual patients before actual treatment is carried out in a clinical setting. Instrumentation and video imaging have made it possible to improve many procedures across a range of surgical specialties, from open to endoscopic. Open exposures, such as wound post-lumbar spine surgery infection, can be reduced using MIS techniques.

Because they allow patients to be discharged the same day, ambulatory centers are becoming more popular for minimally invasive procedures. To be Medicare certified, ambulatory centers must meet specific criteria set by the Centers of Medicare & Medicaid Services. CMS requirements cover patient care, facility design, operational excellence, and other areas.

Device Insights

The minimally invasive surgical instrument market was dominated by the handheld segment in 2018 in terms of revenue share. The handheld instruments used in MIS procedures aim to reduce the damage to extraneous tissues during surgery, speeding up patient recovery and reducing side effects. The majority of instruments on the MIS market are one-use.

The technological advances and increasing use of handheld instruments in minimally invasive surgery are driving the market for handheld instruments. A low-cost, mechanical instrument that can perform minimally invasive laparoscopic surgery has been created recently. These handheld devices are either semi-automatic, mechanical, or robotic. The use of handheld devices allows for easier access to triangulation instruments during surgery, which reduces the chance of making mistakes. Medtronic, Aesculap, Inc., Stryker, CONMED Corporation are the key market players for handheld instruments.

Application Insights

In 2018, the MIS market was dominated by the orthopedic segment in terms of revenue share. Orthopedic MIS procedures do not require the removal of muscles or bone. This has resulted in a faster healing process and improved patient satisfaction. MIS is used in both hip and knee replacement surgeries. Surgeons and hospitals seek out surgical procedures that are less invasive and have fewer complications. This can also reduce hospitalizations. Patients, on the other hand want surgical treatments that are less traumatizing and faster to recover.

Cardiac surgery is a key factor in promoting minimally invasive procedures. There are many benefits to minimally invasive surgery over traditional surgeries. These include a reduced risk of infection, blood loss, pain and trauma reductions, fewer visible scars and faster recovery. Due to their many advantages, minimally invasive surgery is becoming more popular than conventional surgeries due to rising cardiovascular disease incidence.

End-Use Information

In 2018, the hospital segment held the majority of market share in terms revenue share. The fastest expected growth rate for will be observed over the forecast period. There are currently more than 5,500 Medicare-certified ambulatory surgical centres in the U.S. Ambulatory surgical centres offer patients surgery at a lower cost and more flexibility than hospitals. These medical facilities are also known as same-day surgical centers. They can discharge patients following minor operations.

In the next few years, outpatient surgery is expected to increase dramatically. There are many factors that have contributed to the growth of ambulatory surgical centres, including advances in anesthesia and minimally invasive procedures. Also, there has been an improvement in patient experience, legislative changes and economic pressures. Medicare removed the part B deductible to encourage the use ambulatory surgical centres.

Regional Insights

Due to its high rate of unintentional injury and large geriatric population, North America dominated the MIS market's regional segment in 2018. The Organization for Economic Cooperation and Development (OECD) reported that the per capita healthcare spending in the United States is higher than any other country in the world. Patients in the U.S. can choose their treatment methods and providers. This will likely have a positive effect on the North American MIS market.

Asia Pacific, on the other hand is expected to grow the fastest in the region between 2019 and 2026. MIS procedures are expected to rise in Asia Pacific due to the rising geriatric population of Japan and China, as well as road accidents and a developing economy. This region has a high demand for minimally invasive procedures mainly because of the growing popularity of cosmetic surgery and medical tourism.

Market Share Insights on Minimally Invasive Surgical Instruments

Medtronic, Stryker, Smith & Nephew, Abbott, NuVasive, Inc., CONMED, Zimmer Biomet, Intuitive Surgical, Inc. are some of the major players in this market. Medtronic was the market leader for market presence in 2018. Medtronic provides several MIS solutions to treat the coronary artery diseases. Medtronic has also developed a spinal surgical system and stabilization systems based on MIS methods. Medtronic saw a 7% increase in earnings for 2017.

Intuitive Surgical, Inc. is another market leader offering the daVinci surgical method. The daVinci surgical method proved to be both innovative and important in the MIS sector. Intuitive Surgical was an early entrant to the MIS market. They have a strong R&D team and a sales team. Intuitive Surgical had an earnings growth rate of over 14% in 2017. The most promising scientific innovation, particularly surgical robots, will be to increase the demand for minimally invasive procedures.

To capture this market, these companies invest in R&D. Some of these companies are also looking to acquire smaller market players in order to increase their reach and expand their reach. The company purchased St. Jude Medical, Inc. in January 2017. This acquisition expanded their product portfolio. Trifecta Valve (GT) was launched by St. Jude Medical in May 2016 to treat damaged aortic valves.

Minimally Invasive Surgery Instruments Market Report Scope

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional, and country levels. It also provides analysis of industry trends in each sub-segment from 2015 to 2026. Grand View Research has divided the market report on minimally invasive surgical tools on the basis device, end use, region, and application.

• Device Outlook (Revenue USD Million, 2015-2026)

  • Handheld Instruments

  • Inflation devices

  • Cutter instruments

  • Guiding Devices

  • Electrosurgical Devices

  • Auxiliary Devices

  • Monitoring & Visualization Devices

• Application Outlook (Revenue USD Million, 2015-2026)

  • Cardiac

  • Gastrointestinal

  • Orthopedic

  • Vascular

  • Gynecological

  • Urological

  • Thoracic

  • Cosmetic

  • Dental

  • Other

• End Use Outlook (Revenue USD Million, 2015-2026)

  • Hospitals & Clinics

  • Ambulatory Surgical Centers

• Regional Outlook (Revenue USD Million, 2015-2026)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

These are the most frequently asked questions about this report

b. Global minimally invasive surgical instrument market was valued at USD 21,878.7 Million in 2019. It is expected to grow to USD 23,954.2 Million in 2020.

b. Global minimally invasive surgical instrument market is expected grow at a compound annual rate of 9.9% between 2019 and 2026, reaching USD 42,241.7 millions by 2026.

b. With a 44.2% share in 2019, North America was the dominant market for minimally invasive surgical tools. This is due to the high incidence of accidental injuries and large elderly population.

b. Among the key players in the market for minimally invasive surgical tools are Stryker, Smith & Nephew, Abbott, NuVasive, Inc., CONMED, Zimmer Biomet, Intuitive Surgical, Inc.

b. Market growth is driven by the rising prevalence of target diseases, increasing incidence of road accidents, growing geriatric population, and increased R&D expenditures by industry players.

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

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 Minimally Invasive Surgical Instruments Market Report Segments:

The market is segmented by Application (Gastrointestinal, Cardiac), by Device (Handheld Instruments, Inflation Devices).

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 Minimally Invasive Surgical Instruments Market

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

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of 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. Gastrointestinal

                2. Cardiac

                1. Handheld Instruments

                2. Inflation 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 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 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.