Minimally Invasive Surgical Instruments Market to Grow at 7.2% CAGR by 2030
Increasing geriatric population across the globe and development of advanced healthcare equipment are the major factors driving the minimally invasive surgery market growth globally.
The Global Minimally Invasive Surgical Instruments Market is expected to grow at a CAGR of 7.2% from 2020-2030, according to a new research report by Next Move Strategy Consulting.
Minimally Invasive Surgery is a surgical procedure that limits the incision and cuts during the entire procedure and involves the use of small tools and camera. These procedures are much safer in nature as compared to conventional surgical procedures, minimize the blood loss, reduce the complication and also allow faster recovery. Minimally invasive surgeries are less time consuming as compared to conventional surgical procedure. Increasing geriatric population and surging number of surgeries associated with them, such as orthopaedic surgeries, cardiac surgeries, and others are the factors expected to drive the growth of minimally invasive surgical instruments market. However, lack of skilled surgeons and inadequate sterilization procedures are the factors expected to hamper the market growth.
Based on product, the market is classified into handheld instruments, electrosurgical instruments, guiding devices and inflation systems. The handheld instrument is further divided into forceps & spatulas, retractors, dilators, graspers, sutures, visualizing scopes, auxiliary instruments, cutter instruments and others. The auxiliary instruments are also sub-segmented into clamps, staplers, cannulas and closure devices. The cutter instruments segment is further classified into trocars, rasps and others (Scissors, Dissectors, and Blades). The electrosurgical instruments are categorized into electrosurgical generators, electrosurgical instruments & accessories, and electrocautery devices. The guiding devices segment is also sub segmented into guiding catheters and guidewire. The inflation systems are also divided into balloons dilators & inflators and insufflators & insufflator needles. On the basis of application, the market is categorized into neurosurgery, cosmetic surgery, urology, obstetrics & gynecology, ophthalmology, cardiovascular, orthopedic surgery, laparoscopy, and other applications. On the basis of end-user, the market is bifurcated into hospitals, ambulatory surgical clinics, and research institutes. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.
Geographically, North America represents the higher adoption of the minimally invasive surgical instruments and is estimated to hold the highest market share during the forecast period. This is attributable to factors including presence of well-established healthcare services and increased prevalence of various disorders such as cardiovascular disorders, bariatric surgeries, urology disorders and others.
However, Asia-Pacific would witness rapid growth in terms of market share owing to rising accessibility to healthcare facilities coupled with growing disposable income in this region.
Browse key industry insight from the report, “Global Minimally Invasive Surgical Instruments Market Product (Handheld Instruments, Electrosurgical Instruments, Guiding Devices, Inflation Systems), by Application (Neurosurgery, Cosmetic Surgery, Urology, Obstetrics & Gynecology, Ophthalmology, Cardiovascular, Orthopedic Surgery, Laparoscopy, and Other Applications), by End-User (Hospitals, Ambulatory Surgical Clinics, and Research Institutes)– Global Opportunity Analysis and Industry Forecast 2020-2030.
According to the report, some of the key drivers of minimally invasive surgery market are Medtronic PLC, Ethicon, Inc., B. Braun Melsungen Ag, Smith & Nephew PLC, Stryker Corporation, Abbott Laboratories, Conmed Corporation, Applied Medical Resources Corporation, Hoya Corporation, and Zimmer Biomet Holdings, Inc.
Key Insights from the Global Minimally Invasive Surgical Instruments Market Report:
- Current emerging trends and opportunities are extensively analysed in minimally invasive surgical instruments market report.
- The forecast of the minimally invasive surgical instruments market comes along with additional information associated with opportunities, restrains and key drivers in the market.
The report minimally invasive surgical instruments market- segmented by product, application, end-user and geography.
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About Next Move Strategy Consulting
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