In 2022, the market for minimally invasive surgery devices was estimated to be USD 12.9 billion. The minimally invasive surgery devices market is expected share to increase from USD 14.06 billion in 2023 to USD 28.483 billion by 2032, with a compound yearly growth rate (CAGR) of 9.20% over the forecast period (2023-2032). 

Minimally-invasive surgeries are far less traumatic than conventional open surgeries. Traditional surgeries with conventional laparoscopic instruments can be traumatic and intricate. Minimally-invasive laparoscopic cameras are inserted through smaller incisions, and special smaller instruments are used to perform the surgery. The healing process is less agonizing, and patients can recover quickly after minimally-invasive surgery.

The market for minimally-invasive surgical instruments is growing at a staggering pace throughout the world. The factors impelling the growth of this market are the rise in the geriatric population, and, as a consequence, there is an increase in the number of surgeries performed in this section of the people.

Market Dynamics

Significant factors influencing the market growth include rising economic growth, growing geriatric population, increasing prevalence of chronic diseases. According to the World Health Organization (WHO), the amount of the burden of chronic diseases is expected to rise to 60% by 2020, and 79% of deaths due to such diseases are expected to occur in developing countries. The increasing number of minimally-invasive procedures has been one of the significant factors affecting the growth of the market.

The demand for minimally-invasive surgery devices is increasing due the significant benefits associated with minimal surgical procedures, such as small or no incisions, short hospital stay, less pain, quick recovery time, less scarring and reduced blood loss. The increasing popularity of minimally-invasive non-robotic surgery has boosted the global market for minimally-invasive surgical devices.

Nevertheless, factors such as stringent government regulations and high-cost devices for surgery are hindering the growth of the market.

Segmentation

The global market for minimally-invasive surgery devices market has been segmented into type, application, and end-user.

Based on the type, the global market for minimally-invasive surgery devices has been segmented into handheld instruments, inflation devices, cutter instruments, guiding devices, electrosurgical devices, auxiliary devices, and others.

Based on the application, the global market for minimally-invasive surgery devices market insights has been segmented into cardiac surgery, gastrointestinal surgery, orthopedic surgery, vascular surgery, gynecological surgery, urological surgery, thoracic surgery, cosmetic surgery, dental surgery, and others.

Based on the end-user, the global market for minimally-invasive surgery devices has been segmented into hospitals & clinics, ambulatory surgical centers, and others.

Regional Analysis

The global minimally-invasive surgery devices market, by region, has been segmented into the Americas, Europe, Asia Pacific, and the Middle East & Africa.

The Americas are expected to dominate the global market for minimally-invasive surgery devices due to the existence of a large patient population, high healthcare expenditure, well-developed technologies, and leading players. Moreover, as per the Population Reference Bureau, the number of Americans over the age of 65 is estimated to be more than double from 46 million in 2014 to over 98 million by 2060. Geriatric people are more vulnerable to multiple diseases. The presence of a large geriatric population has spurred the growth of the American market. In addition, growing government funding for the development of advanced devices and the well-developed healthcare sector has provided support for the growth of the demand for minimally-invasive surgery devices in America.

Europe is set to retain the second-largest position in the global market for minimally-invasive surgery devices.

The Asia Pacific is the fastest-growing market for minimally-invasive surgery devices due to the increasing need for better monitoring devices, the rapid improvement of technology, and the presence of a large patient pool. In addition, the existence of a large geriatric population and enormous opportunities for the development of this market led to market growth. Many manufacturers are seeking to expand their presence in the region due to increasingly rising economies and the increasing availability of funds and rising demand for devices.

The market for minimally-invasive surgery devices in the Middle East and Africa is expected to expand at a steady rate.

Key Players

Some of the leading participants in the global minimally-invasive surgery devices market are Abbott, GE Healthcare, Medtronic, Inc, Ethicon, Inc., DePuy Synthes, Intuitive Surgical, Inc, Siemens Healthcare GmbH ArthroCare Corporation, Fortimedix Surgical, NuVasive, Inc., Biomet, Inc, Norwood Medical, KEBOMED Europe AG, Freudenberg Medical, and others.

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Contact Us:

Market Research Future (Part of Wantstats Research and Media Private Limited)

99 Hudson Street, 5Th Floor

New York, NY 10013

United States of America

+1 628 258 0071 (US)

+44 2035 002 764 (UK)

Email: sales@marketresearchfuture.com

Website: https://www.marketresearchfuture.com