According to Stratistics MRC, the Global Minimally Invasive Surgical Instruments market is expected to grow from $9.34 billion in 2015 to reach $21.23 billion by 2022 with a CAGR of 12.4%. Better performance of minimally invasive surgeries as compared to traditional open surgeries is the main driving factor fueling the market growth. Moreover, rising chronic disorders as well surgeries and innovative technological improvements are the factors boosting the market growth. On the other hand, lack of skilled surgeons to adopt new technologies and unstable regulations in the medical industries are restricting the market growth.
The orthopedic surgery segment leads the market globally with the biggest market share and is expected to grow with a high CAGR during the forecast period. The growth of this segment is attributed to increasing geriatric population coupled with bone disorders and rising spine injuries. Among all product types, the handheld instruments segment dominates the global market. This is due to vast usage of the handheld instrument in most of all minimally invasive surgeries. North America is leading the global market with a higher CAGR. Asia Pacific is projected to grow at a faster pace during the forecast period. Increasing government spending, growing numerous surgeries, increasing adoption of latest surgical instruments are the factors contributing to the North America market growth.
Some of the key players in global minimally invasive surgical instruments market include Davol, Inc., Conmed Corporation, Aesculap, Inc. (Subsidiary of B. Braun Melsungen AG), Aesculap, Inc., Ethicon Endo-Surgery, Inc., Encision, Inc., Acmi Circon, Abbott Laboratories , Ethicon, Inc. (Subsidiary of Johnson & Johnson), Karl Storz Endoscopy-American, Inc., Smith & Nephew PLC, Olympus Corp. of America, Microline Surgicals, Inc. (Subsidiary of Hoya Corporation), Zimmer Biomet Holdings, Inc., Stryker Corporation, and Medtronic PLC.
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