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Minimally Invasive Surgical Instrument Market Size & Share, By Product (Handheld Instruments, Guiding Devices, Electrosurgical Devices, Auxiliary Devices), Surgery Type (Cardiothoracic, Gastrointestinal, Orthopedic, Gynecological), End-use, Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Report ID: FBI 5662

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Published Date: Aug-2024

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Format : PDF, Excel

Market Outlook:

Minimally Invasive Surgical Instrument Market crossed USD 25.96 Billion in 2023 and is estimated to reach USD 52.77 Billion by end of the year 2032, growing at over 8.2% CAGR between 2024 and 2032.

Base Year Value (2023)

USD 25.96 Billion

19-23 x.x %
24-32 x.x %

CAGR (2024-2032)

8.2%

19-23 x.x %
24-32 x.x %

Forecast Year Value (2032)

USD 52.77 Billion

19-23 x.x %
24-32 x.x %
Minimally Invasive Surgical Instrument Market

Historical Data Period

2019-2023

Minimally Invasive Surgical Instrument Market

Largest Region

North America

Minimally Invasive Surgical Instrument Market

Forecast Period

2024-2032

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Market Dynamics:

Growth Drivers & Opportunity:

Rising demand for minimally invasive surgical procedures due to their numerous benefits such as shorter recovery time, reduced hospital stay, and lower risk of complications is a major growth driver for the minimally invasive surgical instrument market.

Technological advancements in minimally invasive surgical instruments, such as the development of robotic-assisted surgical systems, are also driving market growth by enabling more precise and less invasive procedures.

Increasing adoption of minimally invasive surgeries across various medical specialties, including cardiology, gynecology, and orthopedics, is creating new opportunities for growth in the market.

Report Scope

Report CoverageDetails
Segments CoveredProduct, Surgery Type, End-Use
Regions Covered• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company ProfiledMedtronic, Siemens Healthineer AG, Ethicon, (Johnson & Johnson), GE Healthcare, Intutive Surgical, Nuvasive, Zimmer Biomet, Stryker, Boston Scientific, B. Braun Melsungen AG, CONMED, Smith & Nephew Plc., Becton, Dickinson and Company

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Industry Restraints:

High cost of minimally invasive surgical instruments and procedures is a major restraint for market growth, particularly in developing countries where healthcare infrastructure and funding may be limited.

Limited access to specialized training and expertise in minimally invasive surgical techniques is another key restraint that could hinder market growth, as healthcare providers may be reluctant to adopt these techniques without proper training and support.

Regional Forecast:

Minimally Invasive Surgical Instrument Market

Largest Region

North America

40% Market Share in 2023

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North America:

The Minimally Invasive Surgical Instrument market size in North America, specifically in the United States and Canada, is expected to show steady growth due to the increasing adoption of minimally invasive surgeries in the region. Factors such as technological advancements, growing geriatric population, and favorable reimbursement policies are driving the market growth. Key players in the market are focusing on product innovation and strategic partnerships to gain a competitive edge in the region.

Asia Pacific:

In the Asia Pacific region, countries such as China, Japan, and South Korea are witnessing a significant rise in the demand for minimally invasive surgical instruments. The increasing healthcare expenditure, rising prevalence of chronic diseases, and improving healthcare infrastructure are some of the factors fueling market growth in the region. Local and international players are investing in research and development activities to launch innovative products and expand their market presence in Asia Pacific.

Europe:

In Europe, countries like the United Kingdom, Germany, and France are experiencing a surge in the adoption of minimally invasive surgical instruments. The presence of well-established healthcare infrastructure, increasing healthcare expenditure, and rising awareness about the benefits of minimally invasive surgeries are contributing to the market growth in the region. Market players are focusing on expanding their product portfolio and strengthening their distribution network to cater to the growing demand for minimally invasive surgical instruments in Europe.

Report Coverage & Deliverables

Historical Statistics Growth Forecasts Latest Trends & Innovations Market Segmentation Regional Opportunities Competitive Landscape
Minimally Invasive Surgical Instrument Market
Minimally Invasive Surgical Instrument Market

Segmentation Analysis:

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In terms of segmentation, the global Minimally Invasive Surgical Instrument market is analyzed on the basis of Product, Surgery Type, End-Use.

Minimally Invasive Surgical Instrument Market Analysis:

Product:

Handheld Instruments: Handheld instruments such as forceps, scalpels, and scissors are essential tools in minimally invasive surgeries, allowing for precise control and manipulation of tissues.

Guiding Devices: Guiding devices like trocars and cannulas enable surgeons to access the surgical site with minimal damage to surrounding tissues, improving patient outcomes.

Electrosurgical Devices: Electrosurgical devices play a critical role in cutting, coagulating, and cauterizing tissues during minimally invasive procedures, reducing blood loss and operating time.

Auxiliary Devices: Auxiliary devices, including insufflators and suction/irrigation systems, support optimal visualization and maintain a clear surgical field throughout the operation.

Surgery Type:

Cardiothoracic: Minimally invasive surgical instruments for cardiothoracic procedures, such as minimally invasive coronary artery bypass surgery and video-assisted thoracoscopic surgery, offer patients reduced recovery times and lower risk of complications.

Gastrointestinal: Minimally invasive instruments for gastrointestinal surgeries, such as laparoscopic procedures for appendectomies and cholecystectomies, provide less postoperative pain and faster return to normal activities for patients.

Orthopedic: Minimally invasive orthopedic instruments, used in procedures like arthroscopy and spine surgery, minimize tissue damage, reduce scarring, and accelerate rehabilitation for patients.

Gynecological: Minimally invasive surgical instruments for gynecological procedures, including laparoscopic hysterectomies and ovarian cystectomies, result in shorter hospital stays and quicker recovery times for patients.

End-use:

Hospitals: Hospitals are the primary end-users of minimally invasive surgical instruments, as these facilities perform a wide range of minimally invasive procedures across various specialties.

Ambulatory Surgical Centers (ASCs): ASCs are increasingly utilizing minimally invasive instruments for outpatient surgical procedures, offering patients convenience, cost savings, and faster recovery times.

Specialty Clinics: Specialty clinics focusing on specific surgical specialties, such as orthopedics or gynecology, rely on minimally invasive instruments to provide high-quality care and achieve favorable patient outcomes.

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Competitive Landscape:

Top Market Players:

1. Medtronic

2. Johnson & Johnson

3. Stryker

4. B. Braun Melsungen AG

5. Intuitive Surgical

6. Smith & Nephew

7. Boston Scientific Corporation

8. CONMED Corporation

9. Teleflex Incorporated

10. Olympus Corporation

The Minimally Invasive Surgical Instrument Market is highly competitive with key players such as Medtronic, Johnson & Johnson, and Stryker dominating the global market. These companies are known for their innovative products and strong market presence, driving competition in the industry. Other prominent players include B. Braun Melsungen AG, Intuitive Surgical, and Smith & Nephew, each offering a wide range of minimally invasive surgical instruments.

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Minimally Invasive Surgical Instrument Market Size...

RD Code : 24