Global Minimally Invasive Surgical Instruments market outlook 2024, Forecast To 2033
6 Feb, 2024
The minimally invasive surgical instruments market has experienced rapid growth, progressing from $36.6 billion in 2023 to $40.42 billion in 2024, with a compound annual growth rate (CAGR) of 10.5%. The robust expansion in the historic period is associated with an aging population, a surge in chronic diseases, increased research and development (R&D) investment in the healthcare sector, improvements in healthcare infrastructure, and the rise of medical tourism. The market is expected to sustain its strong growth, reaching $59.17 billion in 2028, with a CAGR of 10.0%. The anticipated growth is attributed to factors such as increasing surgical volume, a rise in healthcare expenditure, growing disposable incomes, and a demand for shorter hospital stays. Major trends in the forecast period include the integration of robotics and AI, personalized surgical instruments, the development of sustainable and eco-friendly instruments, and cross-disciplinary collaborations.
Global Minimally Invasive Surgical Instruments Market Key Driver
The minimally invasive surgical instruments market is growing with the rise in the number of surgical procedures. Medical practitioners prefer minimally invasive surgery for its lower impact on the human body. In April 2022, the Aesthetic Society reported an increase in surgical procedures, driving the growth of the minimally invasive surgical instruments market.
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The global minimally invasive surgical instruments market market covered in this report is segmented –
1) By Product: Handheld Instruments, Inflation Systems, Cutter Instruments, Guiding Devices, Electrosurgical Devices, Auxiliary Instruments
2) Type of Procedure Outlook: Robotic, Non- Robotic
3) By Application: Cardiothoracic Surgery, Gastrointestinal Surgery, Orthopedic Surgery, Gynecological Surgery, Cosmetic & Bariatric Surgery, Vascular Surgery, Urological Surgery
4) By End User: Hospitals, Ambulatory Surgical Clinics, Research Institutes
By Geography: The regions covered in the Minimally Invasive Surgical Instruments market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North Americawas the largest region in the minimally invasive surgical instruments market in 2023. Asia-Pacificis expected to be the fastest growing region in the minimally invasive surgical instruments market. The regions covered in the minimally invasive surgical instruments market market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Minimally Invasive Surgical Instruments Industry Players
Abbott Laboratories Inc., Aesculap Inc., AMNOTEC International Medical GmbH, Applied Medical Resources Corporation, B. Braun Melsungen AG, Becton Dickinson and Company, Boston Scientific Corporation, CONMED Corporation, EndoMed Systems GmbH, FUJIFILM Holdings Corporation, HOYA Corporation, Intuitive Surgical Inc., KARL STORZ SE & Co. KG, KLS Martin Group, Koninklijke Philips N.V, Microline Surgical Corp., NuVasive Inc., Olympus Corporation, Scanlan International Inc., Smith & Nephew plc, Ethicon Inc., GE Healthcare Technologies Ltd., Medtronic Inc., Johnson & Johnson Services Ltd., Stryker Corporation, Cooper Companies Inc., Applied Medical Technology Inc., Richard Wolf GmbH, Zimmer Biomet Holdings Inc., Siemens Healthineers AG
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Minimally Invasive Surgical Instruments Market Overview
Minimally invasive surgical instruments are used to perform less traumatic surgeries for patients. Minimally invasive surgery is performed by using small incisions (cuts) and a few stitches. During the surgery, one or more small incisions are made in the body, and in order to guide the surgery, a laparoscope (thin, tube-like equipment with a light and a lens for seeing) is introduced through one of the openings. Minimally invasive surgery results in less discomfort, scarring, and tissue damage, as well as a faster recovery time than traditional surgery.
Minimally Invasive Surgical Instruments Global Market Report 2023 provides data on the global minimally invasive surgical instruments market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The minimally invasive surgical instruments market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.