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minimally invasive surgical instruments market, minimally invasive surgery equipment market

An Outlook on Minimally Invasive Surgical Instruments Market

Minimally Invasive Surgery – Introductory Summary

Minimally invasive surgery can be defined as a technique in surgery that allows the examination of internal organs without large incisions thereby reducing the damage to human tissues when performing the surgery. For instance, in this type of surgery – a surgeon makes several small ¾-inch incisions and inserts thin tubes called trocars. Carbon dioxide gas may be used to inflate the area thereby creating a space between the internal organs and the skin. The minimally invasive surgical instruments are placed through the other trocars to perform and complete the surgical procedure.

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The minimally invasive surgery is also known as “Laparoscopic Surgery” got a major boost when in 1981 – Kurt Semm performed the first laparoscopic appendectomy and from then on all standard surgical procedures began to be performed laparoscopically especially in developed countries of Europe and North America. The potential benefits of minimally invasive surgery led to the demand for minimally invasive surgical instruments leading to an enormous growth of the market for minimally invasive medical devices.

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The potential benefits of minimally invasive surgery procedures as compared with traditional open surgery have resulted in hospitals and healthcare centers opting for minimally invasive surgery procedure. Some of the benefits of minimally invasive surgery procedure include:

  • Less major bleeding when performing surgery
  • Fewer post operation infections
  • Fewer complications
  • Short length of stay
  • Less scarring
  • Quicker recovery time
  • Lower cost for patients undergoing minimally invasive surgery

Minimally Invasive Surgical Instrument Market Global Analysis & Trends

The minimally invasive surgical instruments market worth $1.18 billion during 2016 and are predicted to reach $18.16 billion by the end of 2021with a CAGR of 10.19%. The market drivers or factors that are resulting in the expansion of the minimally invasive surgery market size is the result of the following ones-

  • Reduction in the healthcare costs due to minimally invasive surgeries
  • Increasing number of surgeries especially among aging population
  • Increasing prevalence of lifestyle diseases or disorders leading to surgeries
  • Technological advancements in the field of medical science
  • Early recovery from surgery as compared to traditional open surgeries
  • Reduction in hospital admission/travel costs

The global minimally invasive surgery instrument market is filled with challenges and dynamic market conditions for the key players or companies indulged in the manufacturing, distribution, and servicing of the minimally invasive surgery instruments. According to Minimally Invasive Surgical Instrument Market Global Analysis – an estimated annual growth of about 8% over the next five years is imminent due to a large number of technological innovations in the devices used in minimally invasive surgeries in the coming decades by physicians worldwide. There is also a widespread research and development activities going on with tremendous venture funding on part of pharmaceutical companies and other venture capitalists that would in turn, lead to a phenomenal growth of this market.

Many firms or companies producing classical surgical instruments are engaging in the production of minimally invasive instruments. There has been a growing shift for manufacturing minimally invasive surgical instruments due to growing local markets, which in most cases required similar technologies to that used to manufacture classical surgical instruments.

Minimally invasive surgical instruments market overview – Segmentation

The minimally invasive surgical instruments market is segmented or classified based on the Product, Application, and End User. By Product, the market is further divided into

  • Handheld Instruments – Stents, Dilators, Graspers, Sutures
  • Electrosurgical Instruments – Electrocautery Devices
  • Guiding Devices – Guiding Catheters, Guidewires
  • Inflation Systems – Balloons, Balloon Inflation Devices
  • Auxiliary Instruments – Clamps, Staplers, Cannula
  • Cutter Instruments – Trocars, Rasps, Others

By Application – the market is classified under the following heads-

  • Cardiothoracic surgery
  • Gynecological surgery
  • Vascular surgery
  • Cosmetic/Bariatric surgery
  • Urological Surgery
  • Others

By End User groups the market divided into the following sections-

  • Government Hospitals
  • Private hospitals and surgical clinics
  • Academic and Research Institutes

Geographically, North America accounts for the largest market share of 34.2% of the global minimally invasive surgical instruments market with Asia-Pacific region estimated to be the fastest growing segment with a CAGR of 12.20% as per minimally invasive surgical instruments market forecast during the next five years.

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