The size of the minimally invasive surgical instruments market in the Asia Pacific is predicted to grow USD 4.45 billion by 2027 from USD 2.50 billion in 2022, growing at a CAGR of 12.20% from 2022 to 2027.
The market for minimally invasive surgical instruments in the APAC region is predicted to rise due to the increasing adoption of health insurance plans. In addition, chronic problems are more likely to strike the elderly population. Geriatrics are a crucial section of the entire patient pool because of their heightened vulnerability to such diseases. Surgical procedures are a promising therapy choice for most of these diseases since the senior population is more prone to orthopedic, cardiovascular, and ocular disorders. As a result of the growing geriatric population, demand for different surgical and interventional procedures is predicted to rise. Furthermore, regulatory rules in the Asia Pacific area are more flexible and pro-business than those in industrialized countries. As a result of this and increased rivalry in established regions, prominent companies in the minimally invasive surgical instruments market have shifted their focus to emerging markets.
In addition, rising awareness of health insurance plans and the emergence of various health insurance providers are expected to contribute to an increase in the number of minimally invasive surgeries performed, resulting in lucrative growth opportunities for the APAC minimally invasive surgical instruments market. Furthermore, the expansion of the minimally invasive surgical instruments market is accelerated by technical advancements, particularly in the sectors of cardiac, ophthalmic, neurological, orthopedic, and oral surgical procedures, to acquire higher-quality instruments that are more efficient.
Product recalls, particularly when corporations lack the financial resources to undertake additional studies to meet FDA data requirements. The market for APAC minimally invasive surgical instruments is also hampered by these delays in the authorization. As a result of such regulatory measures, small producers are also prevented from entering the market. All these factors are restraining the market's growth.
This research report on the APAC minimally invasive surgical instruments market has been segmented and sub-segmented into the following categories:
By End Users:
A medical device business, Genesis MedTech, announced the deployment of revolutionary laparoscopic technology in Singapore and China in April 2022. This technology enables doctors to do minimally invasive surgery instead of open surgery in advanced processes, lowering patient risk and speeding up recovery time. Surgical robots have changed the minimally invasive surgery (MIS) field, and surgeons are increasingly accepting them. As a result, MIS operations are much less expensive than in-patient and traditional open surgeries with comparable outcomes, resulting in a significant increase in value for patients and insurers. This phenomenon is expected to continue in the next few years.
Minimally invasive techniques are much more traumatic than open procedures. Furthermore, the aging population, improved public awareness of the advantages of minimally invasive treatments over traditionally available operations, rising healthcare spending, and increased demand for surgery all contribute to the market's growth for minimally invasive surgical tools. Furthermore, enhanced product designs allow for greater control and accuracy in the operating room, and a growth in public-private partnerships to fund research activities increases the market's economic potential.
KEY MARKET PLAYERS:
Companies playing a dominant role in the APAC Minimally Invasive Surgical Instruments Market analyzed in this report are Medtronic plc (Ireland), Ethicon, Inc. (U.S.), Aesculap, Inc. (Germany), Stryker Corporation (U.S.), Smith & Nephew (U.K.), ConMed Corporation (U.S.), Abbott Laboratories (U.S.), Applied Biomedical Resources Corporation (U.S.), Microline Surgical (Japan) and Zimmer Biomet (U.S.).
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