Benefits of minimally invasive surgeries over traditional open surgeries; reduction in healthcare costs and time; increasing number of surgeries among the aging population; increasing prevalence of lifestyle disorders; and technological advancements are key factors driving market growth for minimally invasive surgical instruments.
Market Overview -
According to the new market research report Minimally Invasive Surgical Instruments Market is projected to reach USD 21.47 Billion by 2021 from USD 13.89 Billion in 2016, at a CAGR of 9.1%. Asia-Pacific is expected to grow at the highest rate. With rising geriatric population, presence of a large patient pool undergoing surgical treatments, growing awareness about modern surgical instruments and techniques, and implementation of various initiatives to reduce the rising healthcare expenditure in Asia-Pacific, the demand for minimally invasive surgical instruments in this region is expected to grow, which in turn will compel the key players to expand their geographical presence in this region.
The market is segmented on the basis of product, application, and end user. By product, the market includes handheld instruments, electrosurgical instruments, inflation systems, guiding devices, auxiliary instruments, and cutter instruments.
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• By product, the market includes handheld instruments, electrosurgical instruments, inflation systems, guiding devices, auxiliary instruments, and cutter instruments. The handheld instruments segment accounted for the largest share of the minimally invasive surgical instruments market.
• The applications included in this report are cardiothoracic surgery, cosmetic surgery/bariatric surgery, gastrointestinal surgery, orthopedic surgery, gynaecological surgery, vascular surgery, urological surgery, and others. The others segment includes ENT/respiratory surgery, neurological surgery, dental surgery, and pediatric surgery.
• End users included in this report are government hospitals, private hospitals and surgical clinics, and medical colleges. In 2015, the private hospitals and surgical clinics segment accounted for the largest share of the global minimally invasive surgical instruments market.
Geographical Overview -
The geographic segments included in this report are North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is further segmented into the U.S. and Canada. In 2015, North America accounted for the largest share of the global minimally invasive surgical instruments market primarily due to the rising number of surgical procedures, growing government investments, growing geriatric population, and rising prevalence of lifestyle diseases in this region. With the rising geriatric population, presence of a large patient pool undergoing surgical treatments, growing awareness about modern surgical instruments and techniques, and implementation of various initiatives to reduce the rising healthcare expenditure in Asia-Pacific, the demand for minimally invasive surgical instruments in this region is expected to grow, which in turn will compel the key players to expand their geographical presence in this region.
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Leading Market Players -
Major players in the global minimally invasive surgical instruments market are Medtronic plc (Ireland), Ethicon, Inc. (U.S.), Aesculap, Inc. (Germany), Stryker Corporation (U.S.), and Smith & Nephew (U.K.). These players have a strong presence in major as well as emerging markets. Other players in this market are 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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