Minimally Invasive Surgical Instruments Market Growth Driven by Rising Patient Demand
Minimally Invasive Surgical Instruments Market Growth & Trends
The global minimally invasive surgical instruments market size is expected to reach USD 63.0 billion by 2030, registering a CAGR of 10.4% during the forecast period, according to a new report by Grand View Research, Inc. The preference for minimally invasive surgical (MIS) procedures is rising as they are less traumatic than traditional open surgeries and they facilitate faster recover process. Patients can resume their daily activities in a shorter time after minimally invasive surgical procedures.
In addition, the costs involved in MIS procedures are significantly less than in-patient and conventional open surgeries. Therefore, MIS procedures prove to be beneficial for patients as well as payers. The benefits of MIS in various areas of orthopedics have contributed to the growing demand for less traumatic alternatives with minimum tissue disruption of bones.
Access the Minimally Invasive Surgical Instruments Market Size, Share & Trends Analysis Report By Device (Handheld Instruments, Inflation Devices), By Application (Cardiac, Gastrointestinal), By End-use, By Region, And Segment Forecasts, 2024 - 2030
Noncommunicable Diseases (NCDs), often known as chronic diseases, affect more than 41 million individuals each year, accounting for approximately 74% of all deaths worldwide. According to the same source, nearly 15 million people aged 30 to 69 die worldwide each year as a result of NCDs. As a result of the high mortality rate due to NCDs, the need for therapeutic techniques is increasing. Minimally invasive techniques are gaining traction as they offer more benefits than regular procedures. As a result, the market under consideration is anticipated to grow over the forecast period.
Minimally Invasive Surgical Instruments Market Highlights
· Minimal invasive technologies are designed to cause less trauma than traditional open surgeries, reduced blood loss, minimal scarring, and low chances of infection
· Handheld instruments dominated the device segment in terms of revenue share in 2023. On the other hand, electrosurgical devices are expected to witness the fastest growth rate during the forecast period from 2024 to 2030.
· Orthopedic segment dominated the application segment in terms of revenue share in 2023. Minimally invasive surgical procedures in various areas of orthopedics offer surgical alternatives with minimum tissue disruption
· Continuous adoption of minimally invasive surgical techniques for spine related procedures has led to the expansion of procedural volumes for orthopedic MIS
· Hospital segment held most of the end use segment share in 2023. On the other hand, ambulatory surgically centers are likely to experience fastest growth in the coming years.
· Ambulatory surgical centers offer same day surgery and discharge at lower costs. At present, over 5,500 Medicare certified ambulatory care centers are present in the U.S.
· North America held majority of the market share in 2023 due to the presence of supportive reimbursement framework for innovative MIS devices and procedures.
Order your free sample copy of “Minimally Invasive Surgical Instruments Market Report 2024 - 2030, published by Grand View Research
Key Companies & Market Share Insights
Most market players have strong collaborations with manufacturers and suppliers to ensure uninterrupted global supply. Many companies are involved in strategic partnerships and mergers & acquisitions as their global strategies. For instance, in February 2023, Encision Inc. signed a Proof of Concept Services Agreement with Vicarious Surgical Inc. The Vicarious surgical robot design plans to boost precision, control, and visualization of instruments in robotic-assisted minimally invasive surgery. Also, in November 2022, New View Surgical, Inc. announced the closure of USD 12.1M Series to fund the commercialization of VisionPort System.
Key Minimally Invasive Surgical Instruments Companies:
· Medtronic
· Siemens Healthineer AG
· Ethicon, Inc. (Johnson & Johnson)
· Depuy Synthes
· GE Healthcare
· Abbott Laboratories
· Intutive Surgical, Inc.
· Nuvasive, Inc.
· Zimmer Biomet
Explore Horizon, the world’s most expansive market research database
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Comments
Post a Comment