Minimally Invasive Surgery Market Share, Size, Growth, Analysis, Report, Forecast 2023-2028
The new report by Expert Market Research titled, ‘Global Minimally Invasive Surgery Market Size, Share, Price, Trends, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global minimally invasive surgery market, assessing the market based on its segments like product type, application, end use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 45.32 billion
- Forecast CAGR (2023-2028): 7.8%
- Forecast Market Size (2028): USD 71.12 billion
Minimally invasive surgical procedures are considerably less expensive than in-patient and traditional open operations with comparable results, resulting in substantial benefit for both the patient and the insurance company. On the other hand, minimlly invasive surgeries are performed using minimally invasive laparoscopic cameras and advanced small instruments. Moreover, after minimally invasive surgeries, the healing process is less painful, and patients recover quicker.
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Surgical robots have revolutionised the field of minimally invasive surgeries, and surgeons are increasingly accepting them, which is a major factor that will drive the growth of the market over the forecast period. The market growth is driven by the increasing adoption of advanced robotics in ASCs, increasing number of surgical procedures, and the advantages of MIS over open surgical techniques.
Industry Definition and Major Segments
Minimally invasive procedures (also referred to as minimally invasive surgeries) are surgical techniques that reduce the size of incisions required, thus reducing wound healing time, discomfort, and infection risk.
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On the basis of product type, the industry is divided into:
- Surgical Devices
- Laparoscopy Devices
- Monitoring and Visualisation Devices
On the basis of application, the industry can be segmented into:
- Bariatric Surgery
- Breast Surgery
- Cardiac Surgery
- Cosmetic Surgery
- Gastrointestinal Surgery
- Gynaecological Surgery
- Orthopaedics and Spine Surgery
- Thoracic Surgery
- Others
Based on end use, the market is classified into:
- Hospitals
- Clinics
- Others
Regionally, the market can be broken down into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The world’s rapidly growing geriatric population and the rising prevalence of chronic diseases such as cancer, cardiovascular disease, and kidney disease are propelling the industry forward. Rising technological innovations in handheld instruments, an increase in the number of coronary and percutaneous cardiology interventions, an increase in healthcare spending, an increase in the launch of innovative products, and the development of a teleoperated surgical operated system are contributing to the market’s growth.
The expansion of this market is being driven by the increased number of minimally invasive surgical procedures performed in hospitals due to the presence of highly skilled healthcare professionals. The market is being fuelled by an increase in the number of approvals and distribution agreements for robotic surgery systems in hospitals and clinics.
Key Market Players
The major players in the market are Zimmer Biomet, Medtronic, Stryker, Arthrex Inc., B. Braun Melsungen AG, Cook Group, and Eximis Surgical LLC, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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