Minimally Invasive Surgical Devices Market to Register Robust CAGR in Coming Years
Increasing number of
surgeries, especially among aging population and major technological
advancements in healthcare sector to drive global minimally
invasive surgical devices market
According
to TechSci Research report, “Global Minimally
Invasive Surgical Devices Market By Instrument (Endoscopes, Laparoscopy
Access Instruments, Laparoscopy Handheld Instruments, Robotic Assisted Surgical
Systems, Electrosurgery, Visualization and Monitoring System), By Type
(Endoscopy, Laparoscopy, Robotics), By Application (Gynecology, Orthopedic
Surgery, Respiratory, Oncology, Gastrointestinal, Urology, Cardiology, Others),
By End-User (Hospitals, Surgical Centers, Others), By Region, Forecast &
Opportunities, 2025”, the global minimally invasive surgical devices market is expected
to witness robust growth during the forecast period. The key factors behind the growth of global minimally
invasive surgical devices include growing number of geriatric populations, increasing cases of lifestyle-related and chronic
disorders, lower cost than in-patient and conventional open surgeries and major
technological advancements in healthcare industry. Additionally, reasons behind
the wide acceptance of minimally invasive surgical devices over traditional open
surgeries are that they are less traumatic, involve smaller incisions and the healing
process is less painful which enables patients to recover at a faster rate
after these surgeries. Moreover, the manufacturers are getting a boost from
latest technological advancements which makes surgeons prefer this process over
the traditional ones. Furthermore, there has been a surge in the demand for minimally
invasive surgical devices owing to their low cost than in-patient and
conventional open surgeries and having equal outcomes. Also, these kinds of
surgeries involve minimal cuts or stitches which enables patients to stay in
hospital for a shorter period. However, the global minimally invasive surgical
devices market also faces some restraints. There are questions being raised
over the quality of surgeries performed through this method. Also,
reimbursement challenges in medical device industry and uncertain regulatory
framework in medical device market might act as a hindrance for the market
growth.
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The global minimally invasive surgical devices market is segmented based
on instrument, type, application, end-users and region. Based on instrument
type, the market is segmented into endoscopes, laparoscopy access instruments,
laparoscopy handheld instruments, robotic assisted surgical systems,
electrosurgery, visualization and monitoring system. Among them, the handheld
instruments segment dominated the market in 2019 and is anticipated to hold its
position over the coming years due to technological innovations and their rapid
adoption in minimally invasive surgeries. Additionally, these kinds of devices
provide easier access during surgeries with instrument triangulation, thereby
reducing the risk of potential mistakes. Based on application, the global minimally
invasive surgical devices market is segmented into gynecology,
respiratory, orthopedic surgery, oncology, gastrointestinal, urology,
cardiology and others. Among them, the orthopedic surgery dominated the market
in terms of revenue in 2019 as no muscles are required to be cut or separated
from the bone in this procedure. However, the gastrointestinal segment is anticipated
to emerge as the fastest growing segment due to rising incidences of
gastrointestinal diseases in both young and old population around the globe.
Abbott Laboratories, Medtronic,
PLC , Ethicon Inc , Intuitive Surgical Inc, Smith & Nephew plc, NuVasive
Inc, Zimmer Biomet Holdings Inc, Koninklijke Philips NV, Olympus Corp, PENTAX
of America Inc, Stryker Corporation, B Braun Melsungen AG , Becton Dickinson
and Co, Microline Surgical Inc, CONMED Corporation, Applied Medical Corp,
Norwood Tool Co, Fortimedix Surgical BV, Precision for Medicine Inc and Karl
Storz Endoscopy America Inc are some of the leading players operating in global minimally
invasive surgical devices market.
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“Latest scientific
innovations and expenditure on R&D activities are creating a huge growth
potential for minimally
invasive surgical devices manufacturers. Moreover, key market players are
trying to capture the untapped markets by introducing innovative products like
surgical robots. Additionally, other big companies are opting for mergers and acquisitions
of smaller market players to expand and make a strong hold in regional markets.
Furthermore, these kinds of surgeries provide reduction in healthcare costs and
time to the patients, which is a major reason behind their surging demand.”, said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Global
Minimally Invasive Surgical Devices Market By Instrument (Endoscopes,
Laparoscopy Access Instruments, Laparoscopy Handheld Instruments, Robotic
Assisted Surgical Systems, Electrosurgery, Visualization and Monitoring
System), By Type (Endoscopy, Laparoscopy, Robotics), By Application
(Gynecology, Orthopedic Surgery, Respiratory, Oncology, Gastrointestinal,
Urology, Cardiology, Others), By End-User (Hospitals, Surgical Centers,
Others), By Region, Forecast & Opportunities, 2025” has
evaluated the future growth potential of global minimally invasive surgical
devices market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global minimally invasive
surgical devices market.
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