Global minimally invasive surgical instruments market is expected to reach USD 18.16 billion by 2021 from USD 11.18 billion in 2016, growing at a CAGR of 10.19% for the next five years 2016-2021. Minimally invasive surgical procedures involve the use of surgery instruments (such as arthroscopic or laparoscopic devices) and remote controlled instruments to monitor the surgery through large display panel or endoscopy. Minimally invasive procedures eliminate large incisions & infections, reduce the long time hospital admission, and promote the early recovery. Currently, the utilization of minimally invasive surgical instruments has been increased. Some of the minimally invasive surgical instruments include, visualizing scope, stents, sutures, dilators, electrosurgical instruments, balloon inflation devices, guiding catheters, trocars, rasps, and cannulas, among others.
Growth of global minimally invasive surgical instruments market is attributed to rising number of surgeries, increasing number of lifestyle disorders, and technological advancements. Moreover, the key benefits offered by minimally invasive surgeries such as reduction in healthcare cost (reduced long time hospital admission & unnecessary travel costs) and early recovery from surgery as compared to traditional open surgeries are further driving the growth of global minimally invasive surgical instruments market. However, certain limitations pertaining to minimally invasive surgery (such as not suitable for high body mass index, skin adhesions conditions) and risks & complications associated with this surgery (such as complications of anesthesia, bleeding) are some of the factors restraining the growth of global minimally invasive surgical instruments market.
Global minimally invasive surgical instruments market is segmented based on the product, application, and end users. Based on product, the market is further sub-segmented as handheld instruments, electrosurgical devices, inflation systems, guiding devices, cutter instruments, and auxiliary instruments. Handheld instruments segment is estimated to command the largest share of global minimally invasive surgical instruments market by product in 2016. The electrosurgical devices segment is expected to grow at the highest CAGR during the forecast period 2016-2021.
Application segment is further categorized as orthopedic, gastrointestinal, cardiothoracic, urological, cosmetic, gynecology, vascular, and other applications. The orthopedic segment is estimated to command the largest share of global minimally invasive surgical instruments market by application in 2016. Based on end users, the market is segmented as private hospitals & surgical clinics, government hospitals and academic & research institutes. The private hospitals & surgical clinics segment is estimated to account for the largest share of global minimally invasive surgical instruments market by end users in 2016.
On the basis of geographical region the global minimally invasive surgical instruments market is segmented as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America is estimated to account for the largest share of 34.2% of the global minimally invasive surgical instruments market in 2016, whereas Asia-Pacific is estimated to grow at the highest CAGR of 12.20% during the forecast period 2016-2021.
The key players in global minimally invasive surgical instruments market such as, Medtronic plc (Ireland), Ethicon, Inc. (U.S.), Aesculap, Inc. (Germany), Stryker Corporation (U.S.), Smith & Nephew (U.K.), ConMed Corporation (U.S.), Abbott Laboratories (U.S.), Applied Biomedical Resources Corporation (U.S.), Microline Surgical (Japan), and Zimmer Biomet (U.S.).
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