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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