In minimally invasive surgeries, small incisions are made in the patient’s body for surgical treatment of the disease or condition, resulting in less trauma to the patient and faster recovery time. Types of minimally invasive surgery include robotic surgery and non-robotic minimally invasive surgery (endoscopic).
The size global minimally invasive surgical instrument market is estimated to be valued at US$ 50,599.8 Million in 2021 and by 2028 at a CAGR of 10.7% between 2021 and 2028 it is likely to reach a value of US$ 113,866.8 Million.
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Market: Drivers
The growing prevalence of acute disorders is likely to drive the growth of the global minimally invasive surgical instrument market in the estimated period. For example, as per the American Cancer Society, approximately 1,762,450 new cancer cases were diagnosed in the U.S. in 2019 and 606,880 will die from cancer.
Furthermore, the growing elderly population is also likely to contribute to the growth of the market. For example, as per the U.S. Census Bureau, the U.S. elderly population is likely to reach 77 million by 2034.
Lack of compensate is likely to hamper market growth. Currently, minimally invasive surgeries, like prostate cancer cryosurgery are refunded by different governments. Minimally invasive surgeries like cardiovascular, gynaecological, cosmetic and urological surgeries are not refunded by private and government insured players in different nations. Lack of compensate for these surgeries can hinder market growth.
Moreover, the high cost of minimally invasive surgery is also likely to limit market growth. For example, the Da Vinci system, costs between US$1.5 million and US$2.5 million to purchase and install, and the process costs between US$3,000 to US$8,000. Similarly, endoscopes range in price from US$30,000 to US$40,000, and process costs for the same range from US$2,000 to US$3,000.
Major players in the market focus on adopting partnership strategies to expand their product portfolio. For example, Titan Medical Inc. signed a development and licensing agreement with Medtronic PLC in June 2020 for R&D in robotic-assisted surgical technology.
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Major players in the market focus on approving and launching new products to expand their product portfolio. For example, InMode Ltd received the Health Canada certification in October 2019, for AccuTite, a minimally invasive technology that delivers RF heating.
M&A activity in the market is increasing. For example, Integra LifeSciences Holdings Corporation acquired Rebound Therapeutics, a developer of single-use medical devices that enable minimally invasive access to neurosurgery in September 2019.
Major players in the market focus on approving and launching new products to expand their product portfolio. Medtronic plc, for example, received CE mark approval in November 2018 for the Valiant Naval Thoracic Stent Graft System for the repair of blunt traumatic aortic injury, penetrating atherosclerotic ulcers, and minimally invasive.
North America leads the global minimally invasive surgical instrument market in 2019, accounting for 45.0% of the value, followed by Europe and Asia Pacific, respectively.
The rising cost of public hospitals is likely to provide a lucrative growth opportunity for players in the global least invasive surgical instrument market. For example, public hospital spending increased by 3.3% between 2016-2017 and 2017-2018, as per a report updated in 2017-18 August 2019, as per a report from the Australian Institute of Health and Welfare Hospitals.
Furthermore, R&D in polymeric microarray patches is also likely to help the market grow. For example, researchers at the Medical Biology Center, UK, reported in May 2020 that new industrially produced microarray patches with high needle density compared the performance of cast hydrogel-forming microarray patches with microarray patches obtained using conventional moulds with low density.
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➡Compares data from North America, South America, Asia Pacific Europe and Middle East Africa, alongside individual chapters on each region .
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Table of Content
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Device Type
- Market Snippet, By Surgery
- Market Snippet, By Country
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Key Highlights
- Product launch
- PEST Analysis
- Technological Advancements
- Regulatory Scenario
- Mergers and Acquisitions
- Impact of COVID19 on the market
- Market Dynamics
- Global Minimally Invasive Surgery Market, By Device Type, 2019 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Surgical Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Ablation Devices
- Electrosurgical Devices
- Medical Robotic Systems
- Monitoring & Visualization Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Endoscopy Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Impact of COVID19 on the market
- Introduction
- Global Minimally Invasive Surgery Market, By Surgery, 2019 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Orthopedic Surgery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Cosmetic Surgery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Breast Surgery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Vascular Surgery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Thoracic Surgery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Gynecological Surgery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Bariatric Surgery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Cardiac Surgery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Gastrointestinal Surgery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Urological Surgery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Introduction
- Global Minimally Invasive Surgery Market, By Region, 2019 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, By Region, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, For Regions, 2017–2026
- North America
- Market Size and Forecast, By Device Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Surgery, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- U.S.
- Canada
- Latin America
- Market Size and Forecast, By Device Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Surgery, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Market Size and Forecast, By Device Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Surgery, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- Germany
- U.K.
- France
- Spain
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Market Size and Forecast, By Device Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Surgery, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- China
- Japan
- India
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- Market Size and Forecast, By Device Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Surgery, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Market Size and Forecast, By Device Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Surgery, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- North Africa
- Central Africa
- South Africa
- Introduction
- Competitive Landscape
- Company Profiles
- Abbott Laboratories, Inc.
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- ArthroCare Corporation
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Integer Holdings Corporation
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Biomet, Inc.
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- DePuy Synthes, Inc.
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Conmed Corporation
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- GE Healthcare
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Given Imaging Ltd.
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Intuitive Surgical, Inc.
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Medtronic, plc.
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- NuVasive, Inc.
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Philips Healthcare
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- InMode Ltd.
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Titan Medical Inc.
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Fractyl Inc.
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Biom’up SA.
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Abbott Laboratories, Inc.
- Company Profiles
- Section
- References
- Research Methodology
- About us and Sales Contact
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