How Has the Minimally Invasive Surgical Instruments Market Size Evolved in Recent Years?
The minimally invasive surgical instruments market has seen considerable growth due to a variety of factors.
• The market size for minimally invasive surgical instruments has seen a significant expansion in the past few years. The value of the market is projected to increase from $39.39 billion in 2024 to $43.2 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 9.7%.
Factors such as an aging population, a spike in chronic illnesses, increased investment in healthcare research and development, enhancements in healthcare facilities, and the growth of medical tourism have contributed to the market's historical growth.
What are the Market Size and Expected Growth Rates for the Minimally Invasive Surgical Instruments Market?
The minimally invasive surgical instruments market is expected to maintain its strong growth trajectory in upcoming years.
• The market for minimally invasive surgical instruments is forecast to experience significant expansion within the upcoming years, escalating to a value of $64.75 billion in 2029 with a compound annual growth rate (CAGR) of 10.6%.
Factors contributing to this growth during the projection period include an increasing number of surgeries, higher healthcare spending, growth in disposable income, and a preference for reduced hospital stays. Dominant trends predicted for this period include the adoption of robotics and AI, personalization of surgical instruments, the development of sustainable and environment-friendly instruments, and cross-sector partnerships.
Which Key Drivers Are Propelling The Minimally Invasive Surgical Instruments Market's Growth?
The uptick in surgical procedures is anticipated to fuel the minimally invasive surgical instruments market growth. Doctors typically choose minimally invasive surgery over traditional open surgery due to the reduced discomfort and damage it causes to the body. This type of surgery is frequently carried out in adrenalectomy, brain, heart, spine, plastic and cosmetic surgery, and kidney transplants. For instance, the Aesthetic Society, a plastic and cosmetic surgery organization in the US, reported that the average plastic surgeon performed 320 procedures in April 2022, compared to 220 in 2020. Additionally, the figure for surgical procedures in plastic and cosmetic surgery surged by 54% in 2021. As a result, the surge in the number of minimally invasive surgical procedures is propelling the expansion of their corresponding instruments market.
What Are The Key Segments Within The Global Minimally Invasive Surgical Instruments Market?
The minimally invasive surgical instruments market covered in this report is segmented –
1) By Product: Handheld Instruments, Inflation Systems, Cutter Instruments, Guiding Devices, Electrosurgical Devices, Auxiliary Instruments
2) Type of Procedure Outlook: Robotic, Non- Robotic
3) By Application: Cardiothoracic Surgery, Gastrointestinal Surgery, Orthopedic Surgery, Gynecological Surgery, Cosmetic & Bariatric Surgery, Vascular Surgery, Urological Surgery
4) By End User: Hospitals, Ambulatory Surgical Clinics, Research Institutes
Subsegments:
1) By Handheld Instruments: Scissors, Graspers, Forceps, Needle Holders, Trocars
2) By Inflation Systems: Insufflators, Inflation Pumps
3) By Cutter Instruments: Blades, Biopsy Punches, Snares
4) By Guiding Devices: Guidewires, Catheters, Trocar Systems
5) By Electrosurgical Devices: Electrosurgical Generators, Electrosurgical Pencils, Argon Plasma Coagulation Devices
6) By Auxiliary Instruments: Suction Devices, Energy Devices, Laparoscopic Accessories
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How Are New Trends Impacting The Size Of The Minimally Invasive Surgical Instruments Market?
The rise of inexpensive surgical robotic systems is becoming a prominent trend in the realm of minimally invasive surgical equipment. This is largely due to the increasing usage of these surgical tools across diverse medical fields and the surging popularity of robot-assisted procedures. As the robotic surgery market nears a decade of commercial utilization, newly emerging surgical modalities with advanced technologies, compact dimensions, and reduced prices are becoming available. For instance, in June 2023, CMR Surgical - a UK-based medical device firm, introduced Versius, a compact and modular surgical robot in Belgium, in a bid to providewider access to minimally invasive surgery. The versatility of Versius makes it suitable for any operating theatre, ensuring its ease of use by surgeons and hospitals. Its modular approach enables tailored port placement, increasing its applicability across different procedures and specialties, and ensuring more patients have access to minimally invasive surgical procedures.
Who Are the Key Players in the Minimally Invasive Surgical Instruments Market?
Major companies operating in the minimally invasive surgical instruments market include:
• Abbott Laboratories Inc.
• Aesculap Inc.
• AMNOTEC International Medical GmbH
• Applied Medical Resources Corporation
• B. Braun Melsungen AG
• Becton Dickinson and Company
• Boston Scientific Corporation
• CONMED Corporation
• EndoMed Systems GmbH
• FUJIFILM Holdings Corporation
• HOYA Corporation
• Intuitive Surgical Inc.
• KARL STORZ SE & Co. KG
• KLS Martin Group
• Koninklijke Philips N.V
• Microline Surgical Corp.
• NuVasive Inc.
• Olympus Corporation
• Scanlan International Inc.
• Smith & Nephew plc
• Ethicon Inc.
• GE Healthcare Technologies Ltd.
• Medtronic Inc.
• Johnson & Johnson Services Ltd.
• Stryker Corporation
• Cooper Companies Inc.
• Applied Medical Technology Inc.
• Richard Wolf GmbH
• Zimmer Biomet Holdings Inc.
• Siemens Healthineers AG
What are the Regional Insights into the Minimally Invasive Surgical Instruments Market?
North America was the largest region in the minimally invasive surgical instruments market in 2024. Asia-Pacific is expected to be the fastest growing region in the minimally invasive surgical instruments market. The regions covered in the minimally invasive surgical instruments market market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
