Global Minimally Invasive Surgical Instrument Market Size, Share, and COVID-19 Impact Analysis, By Product (Handheld Instruments, Inflation Devices, Surgical Scopes, Cutter Instruments, Guiding Devices, Auxiliary Devices, Electrosurgical Instruments & Others), By Type of Surgery (Cardiothoracic, Gastrointestinal, Orthopedic, Gynecological, Cosmetic & Bariatric, Urological & Others), By End User (Hospitals, Specialty Clinics, Ambulatory Surgery Centers & Others), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) Analysis and Forecast 2022-2030
Key Market Insights
Minimally Invasive Surgical Instrument Market was valued at USD 61.64 Billion in 2021. The market is projected to grow USD 96.32 Billion in 2030, at a CAGR of 4.3%. The several surgeries are done using small incisions (cuts) and a few stitches. During minimally invasive surgery, one or more small incisions may be made in the body. Tiny surgical instruments are inserted through other openings to do the surgery. Compared to traditional surgery, minimally invasive surgery typically causes less pain, scarring, and damage to healthy tissue, and the patient tends to heal faster.
Using minimally invasive technology can help hospitals and other health care organizations run more smoothly and keep patients from getting sick while they are in the hospital. Some of the main benefits of minimally invasive surgery for patients are less pain after surgery, fewer major complications during and after surgery, a shorter hospital stay, faster recovery times. It also causes less scarring post-surgery, less stress on the immune system, a smaller incision, and, for specific procedures, a shorter operating time. For instance, according to WHO, millions of people undergo surgical treatment, and surgical interventions account for an estimated 13% of the world’s total disability-adjusted life years.
COVID-19 ANALYSIS
The COVID-19 outbreak has significantly impacted the growth of the global minimally invasive surgical instrument market. It has affected every aspect of medical care, including surgical treatment. The onset of the COVID-19 pandemic has altered how medical treatment is provided globally. Due to the rising number of COVID-19 patients who were being admitted to hospitals, many hospitals and departments have changed how they treat patients with the disease.
Many elective procedures were canceled or put off around the world so that the limited capacities and resources (like hospital beds and experts in patient care) could be used for COVID-19 patient care. The market has collapsed because of lockdowns all over the country, a lack of resources, and, most importantly, the financial instability of hospitals and other end-user environments.
Robot-Assisted Surgical Technologies Fueling the Market Growth
Some of the top companies in the field, like Medtronic, Abbott, Zimmer, and Biomet, have come out with new products that are helped by robots. For example, Titan Medical and Medtronic signed a legally binding contract in 2020 to work together on robot-assisted surgical technology. Also, in 2020, Abbott put out a device to treat mitral regurgitation that fixes heart valves with the least amount of surgery. IonicRF Generator, a product of the company, relieves pain in the nervous system without surgery and with minimal risk.
Increasing Number of Surgeries Accelerating the Market Growth
The growing number of surgeries around the world is driving up the need for minimally invasive surgical tools. Plastic surgery has become more accepted in society, which is another reason why there are more surgeries being done. Celebrities frequently come out and discuss the treatments they've undergone in public. Additionally, minimally invasive surgery is used in the majority of women who are undergoing oophorectomy and ovarian cystectomy for benign causes. Minimally invasive surgery is linked to a lower risk of complications when compared to traditional laparotomies.
A high rate of adoption of laparoscopic operations to assist in the diagnosis of various medical disorders that manifest themselves within the abdominal region or the pelvic region. In addition, sophisticated laparoscopic equipment is utilized in the performance of surgical procedures, such as the removal of a sick or damaged organ as well as the collection of a tissue sample for additional analysis (biopsy).
Concerns Pertaining to Expensive Surgeries Hampering the Market Growth
The high costs associated with surgeries hampering the growth of the global minimally invasive surgical instrument market. This is due to the costs incurred by patients for minimally invasive surgeries in a hospital inpatient or outpatient facilities are higher compared to ambulatory surgical centers.
Based on the product, the market is categorized into handheld instruments, inflation devices, surgical scopes, cutter instruments, guiding devices, auxiliary devices, electrosurgical instruments, and others. Based on the type of surgery, the market is categorized into cardiothoracic, gastrointestinal, orthopedic, gynecological, cosmetic & bariatric, urological & others. Based on the end user, the market is categorized into hospitals, specialty clinics & ambulatory surgery centers. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
North America region is expected to dominate the minimally invasive surgical instrument market share owing to rapid uptake of advanced minimally invasive surgery among medical professionals and the significant number of manufacturing firms with established bases or US headquarters can be credited for the growth of the minimally invasive surgical equipment market in North America. For instance, according to the National Library of Medicine, 1.3 Million surgical procedures were identified from January 1, 2019, to January 30, 2021.
However, Asia Pacific region is expected to witness the highest growth rate during the forecast period owing to the emergence of MIS procedures in the Asia Pacific region will be aided by the expanding senior population in China and Japan, traffic accidents, and a burgeoning economy. Growing medical tourism, particularly for cosmetic surgery, is the key factor driving the demand for minimally invasive procedures in this region.
List of Key Companies Profiled:
- Abbott Laboratories
- AMNOTEC International Medical GmbH
- B. Braun SE
- Becton, Dickinson and Company
- Boston Scientific Corporation
- CONMED
- EndoMed Systems GmbH
- FUJIFILM
- General Electric
- HOYA Corporation
- Intutive Surgical
- Johnson & Johnson
- KARL STORZ
- KLS Martin Group
- Koninklijke Philips N.V.
- Medtronic
- NuVasive, Inc.
- Scanlan International
- Siemens
- Smith & Nephew
- Strategic Business Holdings, Inc.
- Strauss Surgical
- Stryker
- Surgical Innovations Group plc
- Wexler Surgical
- Zimmer Biomet
- Others
Key Industry Developments:
June 2022- Intuitive announced that the U.S. Food and Drug Administration has cleared the integration of a mobile cone-beam CT (CBCT) imaging technology and the Ion Endoluminal System used for robotic-assisted bronchoscopy.
May 2022- B. Braun has strengthened its long-term partnership with True Digital Surgery to improve robotically controlled 3D digital visualization.
September 2021- Abbott announced that the U.S. Food and Drug Administration (FDA) has approved the Portico with FlexNav transcatheter aortic valve replacement (TAVR) system to treat people for open-heart surgery.
March 2021- Johnson & Johnson launched ECHELON+ Stapler, a new powered surgical stapler designed to increase staple line security and reduce complications through more uniform tissue compression and better staple formation.
June 2020- B. Braun launched Aesculap Aeos which offers a fully digital robotic-assisted surgical microscope that also allows the visualization of tumors and blood flow using fluorescence technology.
Segmentation:
By Product
- Handheld Instruments
- Inflation Devices
- Surgical Scopes
- Cutter Instruments
- Guiding Devices
- Auxiliary Devices
- Electrosurgical Instruments
- Others
By Type of Surgery
- Cardiothoracic
- Gastrointestinal
- Orthopedic
- Gynecological
- Cosmetic & Bariatric
- Urological
- Others
By End User
- Hospitals
- Specialty Clinics
- Ambulatory Surgery Centers
By Region
- North America- U.S., Mexico, Canada
- Europe- UK, France, Germany, Italy, Spain, Rest of Europe
- Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
- South America- Brazil, Argentina, Colombia, Rest of South America
- The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa
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Global Minimally Invasive Surgical Instrument Market
- October-2022
- 1 4 8
- Global
- healthcare-medical-devices-biotechnology
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