Minimally Invasive Surgical Instruments Market (By Device: Handheld Instruments, Inflation Devices; By Application: Cardiac, Gastrointestinal; By End Use) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022 – 2030

Published Date : Jan 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global minimally invasive surgical instruments market size was valued at US$ 22 billion in 2021 and is anticipated to grow at a CAGR of 10.5% during forecast period 2022 to 2030. The global minimally invasive surgical instruments market size is expected to reach USD 45 billion by 2030.

Growth Factors

Minimally invasive surgeries are much less traumatic than conventional open surgeries. Traditional surgeries performed with conventional laparoscopic instruments can be traumatic and complex. Minimally invasive laparoscopic cameras are inserted through smaller incisions and specialized smaller instruments are used to perform the operation. The healing process is less painful and patients can recover fastest after minimally invasive surgeries.

The minimally invasive surgical (MIS) instruments market is constantly transforming based on innovative advancements, especially in the fields of cardiac, orthopedic, ophthalmic, neurological, and oral surgical procedures. The consistent technological advancements in this field provide higher-quality instruments that allow the surgeons to perform the surgical interventions efficiently without sacrificing patient safety. The improved product designs provide a level of control and accuracy in the operating room.

Optical engineering, and imaging technology are used to visualize tissue handling at inaccessible internal spots. Virtual reality (VR) scheme is a significant area of development in imaging technology in the MIS field. VR helps to evaluate various conditions and treatment alternatives on virtual patients before the actual treatment technique is performed in a care setting. Advancements in instrumentation and video imaging are likely to renovate several procedures in various surgical specialties from open to endoscopic surgeries. MIS techniques have been used to reduce the complications related to open exposures such as infection and wound post lumbar spine fusion surgery.

Ambulatory centers are increasingly preferred for performing minimally invasive procedures as they facilitate same-day-discharge to patients. The Centers of Medicare & Medicaid Services (CMS) requires ambulatory centers to meet the specific criteria to be Medicare certified. The CMS requirements include patient care, facility design, and operational excellence.

Report Highlights

handheld instruments segment dominated the minimally invasive surgical instruments market in terms of revenue share. Handheld instruments used in MIS techniques target at reducing the amount of damage to extraneous tissues surgical procedures, thereby speeding patient recovery time and reducing discomfort & side effects. Most of the instruments in MIS market are single-use products.

Handheld instruments market is driven by technological innovations and their growing adoption in minimally invasive surgeries. For instance, a low-cost mechanical instrument has been developed recently to perform minimally invasive laparoscopic surgeries. These handheld devices can be either mechanical, robotic, or semi-automated. Handheld devices ensure easier access during surgery with instrument triangulation, thereby reducing the risk of potential mistakes. Key market players of handheld instruments include Medtronic, Aesculap, Inc., Stryker, and CONMED Corporation.

Orthopedic segment dominated the MIS application market in terms of revenue share in 2020. In orthopedic MIS procedures, no muscles need to be cut or separated from the bone. Therefore, this approach has led to improved patient satisfaction and faster healing process.

Cardiac surgery is one of the key factors boosting the adoption of minimally invasive surgeries. Minimally invasive surgeries have various potential benefits over conventional surgeries such as minimal blood loss, reduction in pain & trauma, minimal risk of infection, lesser or smaller noticeable scars, faster recovery, shorter duration of hospitalization, and quicker return to normal activities. Rising incidence of cardiovascular diseases is one of the significant factors leading to an increase in the adoption of minimally invasive surgeries over conventional ones owing to the various advantages of these surgeries.

The hospital segment held majority of the market share in terms of revenue share in 2020. On the other hand, are expected to witness the fastest growth rate over the forecast period. Currently, over 5,500 Medicare certified ambulatory surgical centers are present in the U.S. Ambulatory surgical centers offer surgeries to patients at lower costs and greater flexibility of scheduling as compared to hospitals. Also referred to as same-day surgery centers, these medical facilities discharge patients after minor surgeries.

The demand for outpatient surgeries is likely to grow dramatically in the coming years. The growth in ambulatory surgical centers can be attributed to several factors including rise in minimally invasive procedures, advancement in the field of anesthesia, enhanced patient experiences, legislative changes, and economic pressures. To encourage the use of ambulatory surgical centers, Medicare waived the part B deductible for beneficiaries.

North America dominated the regional segment of MIS market in 2020 due to the high rate of unintentional injuries and large geriatric population. According to a report by the Organization for Economic Co-operation and Development (OECD), per capita healthcare expenditure in the U.S. is higher than all the other countries in the world. In addition, patients in the U.S. have an ability to choose methods of treatment as well as the providers. This is likely to have a positive impact on MIS market in North America.

Key Players

Medtronic, Stryker, Smith & Nephew, Abbott, NuVasive, Inc., CONMED, Zimmer Biomet, Intuitive Surgical, Inc., etc. 

Market Segmentation

  • Device Outlook 

    • Handheld Instruments

    • Inflation Devices

    • Cutter Instruments

    • Guiding Devices

    • Electrosurgical Devices

    • Auxiliary Devices

    • Monitoring & Visualization Devices

  • Application Outlook 

    • Cardiac

    • Gastrointestinal

    • Orthopedic

    • Vascular

    • Gynecological

    • Urological

    • Thoracic

    • Cosmetic

    • Dental

    • Others

  • End Use Outlook 

    • Hospitals & Clinics

    • Ambulatory Surgical Centers

  • Regional Outlook

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Colombia

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

The Minimally Invasive Surgical Instruments market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Minimally Invasive Surgical Instruments market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Minimally Invasive Surgical Instruments market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Minimally Invasive Surgical Instruments market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Minimally Invasive Surgical Instruments market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Minimally Invasive Surgical Instruments capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Minimally Invasive Surgical Instruments by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Minimally Invasive Surgical Instruments market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Minimally Invasive Surgical Instruments market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Minimally Invasive Surgical Instruments market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Minimally Invasive Surgical Instruments industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Minimally Invasive Surgical Instruments market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Minimally Invasive Surgical Instruments market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Minimally Invasive Surgical Instruments market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Minimally Invasive Surgical Instruments market. These factors have benefited the growth of the global market for Minimally Invasive Surgical Instruments. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Minimally Invasive Surgical Instruments. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Minimally Invasive Surgical Instruments are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market

To strategically profile the key players and comprehensively analyze their growth strategies.

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