What? When? Why?

Latest Happenings in Business World

Share on

18

Jan-2022

Minimally Invasive Surgery Market Size To Grow USD 24.88 Bn By 2026

North America followed by APAC are expected to dominate the global minimally invasive surgery market during the forecast period.

As per our research report, the global minimally invasive surgery market size is forecasted to be worth USD 24.88 billion by 2026, registering a CAGR of 9.9% from 2021 to 2026.

The COVID-19 pandemic has created new challenges for hospitals, surgeons, and patients due to the number of infections. As a result, hospitals and healthcare systems have shunned elective surgeries such as endoscopy, biopsies, robot-assisted procedures, laparoscopy, and other minimally invasive procedures. However, as the world recovers from this COVID-19 pandemic, the demand for minimally invasive surgeries is anticipated to increase due to the high demand for healthcare services and unmet market need.

Currently, minimally invasive surgeries are gaining popularity due to their benefits over other procedures such as reduced postoperative pain, quick recovery, ease of performing the procedure by many surgeons, and decreased blood loss. In addition, these procedures use robotic technology, which allows precise control, thus resulting in a higher success rate with lesser complications. These factors, along with the growing number of physician-owned clinics, contribute significantly to this market's growth. Secondly, the ever-increasing geriatric population, who are more prone to increasing prevalence of chronic diseases such as arthritis, cancer, CNS, and cardiovascular diseases (CVD), is causing a rapidly growing demand across the globe. According to the World Health Organization, in 2021, various chronic conditions, such as CVD, cancer, respiratory diseases, and diabetes, are responsible for approximately 17.9 million, 9.3 million, 4.1 million, and 1.5 million deaths, respectively. From the same source, over 41 million people die each year from chronic diseases, equivalent to almost 71% of all deaths across the globe.

Other factors such as the rising disposable income, especially in emerging regions, improving healthcare infrastructure, growing demand for technologically developed instruments and devices, and continuous activities in research and development will be responsible for supporting the growth of the minimally invasive surgery market. As a result, manufacturers are introducing various technologically advanced products such as narrowband imaging endoscopes, potable instruments, smart and wireless devices, and HD cameras, creating a positive outlook for the market across the globe.

Increasing government spending to create patient awareness about early detection and the availability of various treatment modalities will contribute to the market's growth. Additionally, to meet growing consumer demand for improved surgical procedures, significant players focus on developing customized or precision devices that can work with robotic assistance for minimally invasive surgeries. Furthermore, certain developed nations such as the U.S, U.K, and Canada also provide grants and funds to support the latest technologies and the setting up of start-ups to increase the number of manufacturers and products in the market, and this is anticipated to influence the growth of the market over the forecast period significantly.

However, the high cost associated with procedures, instruments, and installation is anticipated to challenge the global minimally invasive surgery market. In addition, the presence of other surgical options will hamper the market growth during the forecast period.

Avail sample market brochure of the report to evaluate report usefulness, get a copy @ https://www.marketdataforecast.com/market-reports/Minimally%20Invasive%20Surgery%20Market/request-sample

KEY MARKET INSIGHTS:

  • Based on the application, in 2021, the gynecological conditions segment dominated the market. This trend is anticipated to continue during the forecast period due to the increase in gynecological disorders, the growing female population, and favorable government activities. However, the spine disease segment is anticipated to witness tremendous growth over the studied period, owing to the increasing prevalence of spondylitis and technological advancements.
  • Based on end-user, in 2021, the hospitals & clinics segment was the most significant contributor in market share, owing to the increase in the number of hospitals and government initiatives to improve healthcare infrastructure. However, the ambulatory surgery center segment will grow at a high CAGR due to the advancement of ambulatory surgery centers, increased demand for minimally invasive surgery, and the high prevalence of chronic diseases.
  • Based on region, in 2021, the North American regional market gained the largest share and is anticipated to continue this trend during the forecasted period. However, Asia-Pacific is expected to become the market with the highest CAGR of 5.5% during the forecast period due to the increasing number of surgeries, increasing demand for minimally invasive surgery, advances in minimally invasive surgical instruments, and unmet market demand. Germany will lead the growth in the European region due to the increasing prevalence of surgeries and technological advancements.
  • Companies playing a crucial role in the global minimally invasive surgery market are Zimmer Biomet Inc., Medtronic Inc., GE Healthcare, Eximis Surgical, Stryker Corporation, Arthrex, Check-Cap, Cook Medical, OmniGuide, Inc., Orthofix Holdings, Inc., Philips Healthcare, and RF System.

The report can be customized as per the requirements; talk to our team @ https://www.marketdataforecast.com/market-reports/Minimally%20Invasive%20Surgery%20Market/customization

MARKET SEGMENTATION:

By Device:

  • Handheld Instruments
  • Inflation Devices
  • Cutter Instruments
  • Guiding Devices
  • Electrosurgical Devices
  • Auxiliary Devices
  • Monitoring & Visualization Devices

By Application:

  • Cardiac
  • Gastrointestinal
  • Orthopedic
  • Vascular
  • Gynecological
  • Urological
  • Cosmetic
  • Dental

By End-User:

  • Hospitals and Specialty Clinics
  • Ambulatory Surgery Centers

By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa
Automotive

WRITTEN BY: Market Data Forecast

Market Data Forecast