North America dominates the global market for minimally invasive surgical instruments due to rising number of minimally invasive surgeries and growing geriatric population in the region. This market is expected to show high growth rates in the next five years in Asia, with China and India being the fastest growing markets in the Asia-Pacific region. The key driving forces of the minimally invasive surgical instruments market in developing countries are the large pool of patients, increasing awareness about minimally invasive surgery techniques, improving healthcare infrastructure, increasing purchasing power of the middle class population, and rising government funding in the region.
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Increasing number of surgeries among the geriatric population, increasing minimally invasive surgeries over traditional open surgery, reduced healthcare cost and time associated with minimally invasive surgery, increase in healthcare expenditure, increasing awareness about healthcare, and rising number of initiatives by various governments and government associations are some of the key factors driving the growth of the global minimally invasive surgical instruments market. However, complex regulatory frameworks, lack of skilled surgeons, and absence of reimbursement in medical device industry are major restraint on the growth of the global minimally invasive surgical instruments market.
Growing obesity rate and increasing awareness about technologically advanced minimally invasive surgical instruments and procedures would help develop opportunities for the global minimally invasive surgical instruments market.
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The major companies operating in the global minimally invasive surgical instruments market are Medtronic Plc, Aesculap, Inc., Stryker Corporation, Smith & Nephew Plc, Ethicon, Inc., Abbott Laboratories, Inc., Applied Medicals, Conmed Corporation, and Zimmer Holdings, Inc.
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