The Minimally Invasive Surgical Instruments Market in North America is expected to reach USD 7.74 billion by 2027 from USD 5.05 billion in 2022, growing at a CAGR of 8.90% for the next five years 2022 - 2027.
Minimally invasive surgical procedures involve using surgery instruments (such as arthroscopic or laparoscopic devices) and remote-controlled instruments to monitor the surgery through large display panel or endoscopy. Minimally invasive procedures eliminate large incisions & infections, reduce the long-time hospital admission, and promote early recovery. Currently, the utilization of minimally invasive surgical instruments has been increased. Some of the minimally invasive surgical instruments include visualizing scope, stents, sutures, dilators, electrosurgical instruments, balloon inflation devices, guiding catheters, trocars, rasps, and cannulas others.
The increasing aging population, a growing number of surgical procedures, rising government investments, the high prevalence rate of lifestyle disorders, and increasing incidence of bone disorders (such as osteoporosis arthritis) & spine injuries drive the minimally invasive surgical instruments' growth market in North America.
However, stringent regulatory policies for the approval of advanced surgery instruments and irregular reimbursement scenarios in this region are expected to restrain the growth of the minimally invasive surgical instruments market in North America.
This research report segmented and sub-segmented into the following categories:
Based on product type, the handheld instruments segment is estimated to command North America's largest share of minimally invasive surgical instruments market by product in 2018. The electrosurgical devices segment is expected to grow at the highest CAGR during the forecast period 2018-2023.
Based on application, the orthopedic segment is estimated to command the largest share of North America minimally invasive surgical instruments market by application in 2018. The private hospitals & surgical clinics segment is estimated to account for the largest North America minimally invasive surgical instruments market by end-users in 2018.
Regionally, the U.S. is estimated to account for a more extensive North America minimally invasive surgical instruments market in 2019. In contrast, Canada is estimated to grow at a higher CAGR during the forecast period.
Companies playing a dominant role in the North America Minimally Invasive Surgical Instruments Market 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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