Market Overview:
The Global Minimally Invasive Surgery Market size is expected to grow from USD 57.91 Billion in 2022 to USD 116.24 Billion by 2030, at a CAGR of 9.1 % during the forecast period (2023-2030).
Minimally invasive surgery (MIS) can be dated back to the 1800s and started to become more common as a diagnostic procedure in the 1930s and 1940s. This surgical method started to gain impetus in the mid-1980s attributed to advances in camera and video technology. This offered surgeons precise anatomic details to perform increasingly sophisticated procedures. Surgery that is done by making small incisions or cuts and a few stitches on the body is called minimally invasive surgery.
Top Key Players in the Minimally Invasive Surgery Market:
NuVasive Inc (US), Siemens Healthineers (Germany), Stryker Corporation (US), Teleflex Inc. (US), Intuitive Surgical (US), Beverly Hills Orthopedic Institute (US), Boston Center for Ambulatory Surgery Inc. (US), Weill Cornell Medicine (US), Smart Medical Devices Inc. (US), Taiwan Surgical Corporation (Taiwan), Tissium (France), ZSX Medical LLC (US), Ancillary Advantage Inc. (US). and other major players.
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The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.
Market Dynamics and Factors for Minimally Invasive Surgery Market:
Drivers:
Rising Number of Individuals Suffering from Cancer
The rise in the number of individuals suffering from cancer and cardiovascular diseases is the main factor promoting the expansion of the minimally invasive surgery market during the forecast period. Scars from minimally invasive surgery are smaller than those from traditional open surgery. In laparoscopy, one incision is done in the belly button and one to three others in the lower belly. The hospital stay period is gradually reduced and it decreases the risk of problems such as blood clots or infection post-surgery thus, supporting the development of a minimally invasive surgery market over the projected period.
Opportunities:
The Investments Made by Several Governments and Private Organizations to Develop Novel Surgery Methods
The investments made by several governments and private organizations to develop novel surgery methods that can reduce the risk associated with traditional open surgery methods are creating a lucrative opportunity for the market players. The trend is set to see an upsurge in demand as individuals are becoming aware of the advantages of minimally invasive surgery methods such as quick recovery time, and less blood loss. Moreover, the rise in the population opting for minimally invasive surgical procedures and the adoption of these techniques by several healthcare providers is generating profitable opportunities for the market players involved in the minimally invasive surgery market.
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Segmentation Analysis of the Minimally Invasive Surgery Market:
By device, the surgical device segment is expected to dominate the market. Surgical devices play an important part in minimally invasive surgery procedures thus, driving the growth of the segment.
By surgery method, the traditional segment is expected to dominate the market. The traditional method requires less training period and can be easily administered by medical professionals thus, supporting the development of this segment.
By Device
· Surgical Devices
· Monitoring & Visualization Devices
· Endoscopy Devices
By Surgery Method
· Robot-Assisted
· Traditional
By Type Of Surgery
· Gastrointestinal
· Cardiothoracic
· Gynecological
· Urological
· Orthopedic
· Others
End-User
· Hospitals
· Ambulatory Surgery Centers
Regional Analysis of the Minimally Invasive Surgery Market:
North America is expected to dominate the market during the forecast period. The technological advancements and presence of major service providers in this region are the major factors supporting the growth of the market in this region. The USA and Canada are the prominent countries fueling the expansion of the market in this region. Moreover, the healthcare sector in the United States and Canada is highly developed.
By Regional Outlook
· North America (U.S., Canada, Mexico)
· Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
· Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
· Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
· Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
· South America (Brazil, Argentina, Rest of SA)
Key Industry Development:
In September 2021, Teleflex Incorporated announced that two new UroLift System products, the UroLift Advanced Tissue Control (ATC) System and the UroLift 2 System will be launched at the American Urological Association (AUA) 2021 Annual Meeting. These two new products are built on the highly successful UroLift System. The UroLift ATC System features an enhanced delivery device tip designed to make it easier for urologists to treat BPH patients with minimally invasive procedures.
In March 2021, NuVasive, Inc., the leader in providing minimally invasive surgery solutions for spine surgery, announced the continuation of the partnership with the International Spine Study Group Foundation (ISSGF). This partnership will be focused on evaluating complex adult spinal deformities treated with minimally invasive surgery for 10 years.
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