How Has The Minimally Invasive And Non Invasive Product And Service Market Size Evolved Historically?
The minimally invasive and non invasive product and service market has seen considerable growth due to a variety of factors.
• The market size for minimally invasive and non invasive products and services has been on a steady rise over recent years. The projected growth will be from $140.65 billion in 2024 to $149.97 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.6%. Factors like the influence of early adopters, collaboration in the industry and research, regulatory shifts and approvals, and changing patient expectations can be attributed to this historic growth.
What Does Future Hold for The Minimally Invasive And Non Invasive Product And Service Market?
The Minimally Invasive And Non Invasive Product And Service market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for minimally invasive and non invasive products and services is projected to experience substantial growth in the coming years, expanding to a value of $202.73 billion by 2029 with a compound annual growth rate (CAGR) of 7.8%.
The growth predicted for this period can be attributed to several factors including escalating healthcare costs, shifts in consumer preferences, regulatory modifications and approvals, advancements in training and education, market mergers and increased competition. Significant trends predicted for this period encompass an increase in cosmetic and aesthetic procedures, a higher focus on personalized medicine, a concentration on outpatient services, wider applications, and the incorporation of AI and robotics.
What Are The Primary Growth Drivers In The Minimally Invasive And Non Invasive Product And Service Market?
The anticipated growth of the minimally invasive and non-invasive product and service market is largely attributed to the expanding elderly population. This refers to individuals who are 65 years or over and no longer in employment. As age advances, the swelling elderly population triggers an upswing in the demand for non-invasive items and procedures, such as hearing aids and external splints. For example, the World Health Organization, a renowned public health organization based in Switzerland, revealed in October 2022 that by the end of that year, the global population of those in the age bracket of 60 and above will have seen a significant rise to 1.4 billion, up from 1 billion in 2020. Furthermore, it is projected that by 2030, 1 in every 6 individuals globally will be over 60 years. Consequently, the ballooning elderly population is a key force propelling the advancement of the minimally invasive and non-invasive product and service market.
What Is The Segmentation Of The Global Minimally Invasive And Non Invasive Product And Service Market?
The minimally invasive and non invasive product and service market covered in this report is segmented –
1) By Type: Surgical Devices, Electrosurgical Devices, Imaging Devices, Robotic Systems, Other types
2) By Technology: Non-Visual imaging, Transcatheter Surgery, Laparoscopic Surgery
3) By Application: Cardio Thoracic Surgery, Vascular Surgery, Neurological Surgery, Cosmetic Surgery, Gastrointestinal Surgery, Dental Surgery
4) By End-User: Hospital Surgical Departments, Outpatient Surgical Centers, Group Practices, Individual Surgeons, Medical Schools, Other End-Users
Subsegments:
1) By Surgical Devices: Endoscopes, Laparoscopic Instruments, Trocars, Surgical Staplers
2) By Electrosurgical Devices: Monopolar Electrosurgical Devices, Bipolar Electrosurgical Devices, Electrosurgical Generators
3) By Imaging Devices: Ultrasound Machines, MRI Machines, CT Scanners, X-ray Machines
4) By Robotic Systems: Surgical Robotic Systems, Robotic-Assisted Laparoscopic Systems, Robotic Rehabilitation Devices
5) By Other Types: Non-Invasive Monitoring Devices, Drug Delivery Systems, Wound Care Products
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What Emerging Trends Are Shaping The Minimally Invasive And Non Invasive Product And Service Market Landscape?
The emergence of cutting-edge technologies in surgical procedures stands out as a primary trend gaining traction in the minimally invasive and non-invasive product and service market. Major players in this market are focusing their energy on revolutionary technologies to maintain their market presence. For instance, Abbott Laboratories, a multinational medical device and healthcare company based in the U.S, rolled out its latest-generation transcatheter aortic valve implantation (TAVI) system in December 2022. The Navitor valve, featuring a unique design that prevents blood leakage around it, has played a substantial role in improving TAVI treatments. This new addition to Abbott's series of transcatheter solutions provides physicians and patients with less invasive alternatives for managing heart diseases.
Who Are the Key Players In The Minimally Invasive And Non Invasive Product And Service Market?
Major companies operating in the minimally invasive and non invasive product and service market include:
• Medtronic Plc
• Integra LifeSciences Corporation
• NuVasive Inc.
• Olympus Corporation
• Smith & Nephew Plc
• Stryker Corporation
• Teleflex Incorporated
• Boston Scientific Corporation
• CONMED Corporation
• Surgical Innovations Group Plc
• Clarus Medical LLC
• Intuitive Surgical Inc.
• Fujifilm Holdings Corporation
• Zimmer Biomet Holdings Inc.
• B. Braun Holding GmbH & Co. KG
• Alphatec Holdings Inc.
• Auris Health Inc.
• CooperSurgical Inc.
• HOYA Corporation
• GE Healthcare
• Siemens Healthineers
• Abbott Laboratories
• Koninklijke Philips N.V.
• Praxis Medical Devices
• ATEC Spine
• PQ Bypass
• Terumo Medical Corporation
• Nexter Medical SAS
• Cook Medical Inc.
• Johnson & Johnson Inc.
• Coloplast A/S
• AtriCure Inc.
What Are The Regional Insights Into The Minimally Invasive And Non Invasive Product And Service Market?
North America was the largest region in the minimally invasive and non invasive product and service market in 2024. The regions covered in the minimally invasive and non invasive product and service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
