Minimally Invasive Surgery Market will exhibit a CAGR of 7.9% between 2020 and 2030

The Global Minimally Invasive Surgery Market size is estimated to be USD 39.38 billion in 2019 and is predicted to reach USD 90.89 billion by 2030 with a CAGR of 7.9% from 2020-2030. Minimally Invasive Surgery is a surgical procedure which limits the incision and cuts during the entire procedure and involves the use of small tools and camera. These procedures are much safer in nature as compared to conventional surgical procedures and minimize the blood loss and also reduce the complication and allow faster recovery. Minimally invasive surgeries are less time consuming as compared to conventional surgical procedure.

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Market Dynamics and Trends

The increase in the prevalence of various disorders such as arthritis, cardiovascular disorders, and others coupled with constant increase in the bariatric surgeries are expected to fuel the minimally invasive surgery market. Furthermore, these minimally invasive surgeries has reduced the complication and also reduced the time consumption and also reduction in patient trauma.

The factors such as constant development in the minimally invasive surgery devices, faster recovery, and increased success rates are further expected to contribute the growth of minimally invasive surgery market. Furthermore, increase in geriatric patient population with wide applications of minimally invasive surgery is expected to drive the growth of minimally invasive surgery market. However, High cost of the minimally invasive surgery and poor reimbursement policies are expected to hamper the growth of minimally invasive surgery market. Research and development activities coupled with product portfolio expansion by the major players are expected to create numerous opportunities in the minimally invasive surgery market in the near future.

Market Segmentations and Scope of the Study:

The global minimally invasive surgery market share is analyzed on the basis of product type, application, end user and geography. On the basis of product type, the market is segmented into handheld instruments, electrosurgical instruments, guiding devices, inflation systems, auxiliary instruments, and cutter instruments. The handheld instruments are sub segmented into Stents, Visualizing scopes, Forceps and Spatulas, Dilators, Retractors, Sutures, Graspers, and others. The electrosurgical instruments are further sub segmented into Electrosurgical Generators, Electrosurgical Instruments, and Electrocautery Devices. The guiding devices are further sub segmented into Guiding Catheters and Guidewires. The application segment is divided into Cardiothoracic Surgery, Gastrointestinal surgery, Orthopedic Surgery, Gynecological Surgery, Vascular Surgery, Cosmetic/Bariatric Surgery, Urological Surgery, and Other. On the basis of end user, the market is divided into Hospitals, clinics and Academic and Research Institutes. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America represents the higher adoption of the minimally invasive surgery and is estimated hold the highest market share during the forecast period. This is attributable to the factors including presence of well-established healthcare services, increased prevalence of various disorders such as cardiovascular disorders, bariatric surgeries, urology disorders and others, coupled with technological advancements.

It is expected that the emerging economies, specifically in the Asia-Pacific region would witness increasing market size owing to increasing accessibility to healthcare facilities coupled with increase in disposable income and increase prevalence of various disorders in the region. Increase in medical tourism and increase in patient pool due to large geriatric population is further expected to augment the growth of minimally invasive surgery market.

Competitive Landscape

The minimally invasive surgery market, which is highly competitive, consists of a few major players Companies, such as Abbott Laboratories, Intuitive Surgical Inc., Olympus Corporation, Koninklijke Philips NV, Smith & Nephew, GE Healthcare, Medtronic PLC, Siemens Healthineers, Zimmer Biomet, Stryker Corporation among others.

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Recently, various developments have been taking place in the minimally invasive surgery market. For instance, in September 2018, Olympus corporation, a medical device company has announced the FDA clearance of its EZ Shot 3 Plus 25 G needle as well as an expanded indication for the EZ Shot 3 Plus product line-up for both fine needle aspiration (FNA) and fine needle biopsy (FNB). The uncompromised access, enhanced puncturability, predictable trajectory and distinct echogenicity of the EZ Shot 3 Plus line, combined with the new 25 G offering and expanded indication for FNA and FNB, can drive improved staging of disease.