The global minimally invasive surgical instruments market size is expected to grow from $30.32 billion in 2021 to $32.57 billion in 2022 at a compound annual growth rate (CAGR) of 7.4%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The minimally invasive surgical instrument market is expected to reach $43.35 billion in 2026 at a CAGR of 7.41%.
What is the Global Minimally Invasive Surgical Instruments Market?
The minimally invasive surgical instruments market consists of sales of minimally invasive surgical instruments by entities (organizations, sole traders, and partnerships) that are used for performing less traumatic surgeries for the patients. Minimally invasive surgery is performed by using small incisions (cuts) and a few stitches. During the surgery, one or more small incisions are made in the body, in order to guide the surgery, a laparoscope (thin, tube-like equipment with a light and a lens for seeing) is introduced through one of the openings. Minimally invasive surgery results in less discomfort, scarring, and tissue damage, as well as a faster recovery time than traditional surgery.
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What drives the Global Minimally Invasive Surgical Instruments Market?
The rise in the number of surgical procedures is expected to propel the growth of the minimally invasive surgical instruments market. Medical practitioners prefer minimally invasive surgery over open surgery as they cause less harm and pain to human body. Minimally invasive surgery is commonly used in adrenalectomy, brain surgery, heart surgery, kidney transplant, spine surgery, plastic and cosmetic surgery. According to the International Society of Aesthetic Plastic Surgery survey, in 2019, the number of plastic surgeries performed worldwide stood at 11.3 million. Therefore, the increase in the number of surgical procedures is driving the growth of the minimally invasive surgical instruments market.
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Global Minimally Invasive Surgical Instruments Market Segments
The global minimally invasive surgical instruments market is segmented:
By Product: Handheld Instruments, Inflation Systems, Cutter Instruments, Guiding Devices, Electrosurgical Devices, Auxiliary Instruments
Type of Procedure Outlook: Robotic, Non-Robotic
By Application: Cardiothoracic Surgery, Gastrointestinal Surgery, Orthopedic Surgery, Gynecological Surgery, Cosmetic and Bariatric Surgery, Vascular Surgery, Urological Surgery
By End-User: Hospitals, Ambulatory Surgical Clinics, Research Institutes
By Geography: The regions covered in the minimally invasive surgical instruments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Minimally Invasive Surgical Instruments Global Market Report 2022 provides market size and growth forecasts for the global minimally invasive surgical instruments market, global minimally invasive surgical instruments market share, minimally invasive surgical instruments market segments and geographies, minimally invasive surgical instruments market competitive landscape including leading competitors’ revenues, profiles and market shares. The minimally invasive surgical instruments market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Minimally Invasive Surgical Instruments Industry Players 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, NuVasive, Inc., Olympus Corporation, Scanlan International, Inc., Smith & Nephew plc, Ethicon Inc, and GE Healthcare. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
