Minimally Invasive Surgery Market to Hit USD 324.9 Bn by 2031 | Transparency Market Research
Global minimally invasive surgery market growth is driven by shorter hospital stay, available of technologically advanced instruments, increase in number of day care center. North America is expected to be a potential revenue generator for vendors during the forecast period.
Wilmington, Delaware, United States, April 14, 2023 (GLOBE NEWSWIRE) — The global minimally invasive surgery market stood at USD 231.1 Bn in 2021 and is estimated to surpass USD 324.9 Bn by 2031, expanding at a CAGR of 3.2% during the forecast period between 2022 and 2031.
Innovative minimally invasive techniques have been made possible by scientific breakthroughs and new surgical technologies. Following the COVID-19 outbreak, companies in the minimally invasive surgery market are making data-driven decisions prior to investing in the development of new device innovations. Across a wide range of surgical specialties, minimally invasive techniques have several advantages, including rapid recovery and lower inpatient hospital costs. These benefits are anticipated to drive market development in the near future.
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|Market Revenue||USD 231.1 Bn in 2021|
|Estimated Value||USD 324.9 Bn by 2031|
|No. of Pages||179 Pages|
|Market Segmentation||By Procedure, Disease Indication, and End-user|
|Regions Covered||North America, Europe, Asia Pacific, Middle East & Africa, South America|
|Companies Covered||Abbott Laboratories, B. Braun Melsungen AG, Becton, Dickinson and Company, Boston Scientific Corporation, CONMED Corporation, Johnson & Johnson Services, Inc., Medtronic plc, Smith & Nephew plc, Stryker Corporation, and Zimmer Biomet|
Robotics are likely to make it possible for some treatments to be carried out with greater accuracy and less human involvement. It is now possible to manufacture instruments out of brand-new materials, such as memory metals, which can be used to create heat-activated forceps or scissors. Hospital stays and trauma are lowered with minimally invasive operations. These factors play an important role in the development of newer, more innovative minimally invasive techniques.
Using techniques that reduce the number and size of incisions, or cuts, that must be carried out, a surgeon can conduct minimally invasive treatments. These techniques have been transformed by developments in minimally invasive surgery technology. Usage of minimally invasive technologies has enhanced patient outcomes and healing across the world. Surgeons can enhance video imaging using minimally invasive and robotic methods that give them vocal control over the connected operating room.
Robotic surgery is the most recent advancement in minimally invasive surgery, giving surgeons access to precision tools that use the same tiny incisions as traditional laparoscopy. One significant difference is that this system can provide more accurate control of instruments used in minimally invasive surgery and a wider vision of the operating field. Increasingly, surgical procedures make use of 3D printing, AI-enabled services, and new imaging technologies. These factors are likely to drive market demand for minimally invasive surgeries.
Key Findings of Market Report
- In terms of procedure, the laparoscopic surgery segment dominated the global market in 2021. This trend is anticipated to continue during the forecast period owing to the widespread use of laparoscopic techniques to help diagnose various medical diseases that develop in the pelvis or abdomen. Furthermore, sophisticated laparoscopic tools are utilized for surgical operations such as the elimination of damaged or diseased tissue samples or organs for further analysis (biopsy). Increase in technical advancements in handheld equipment and significantly reduced operating expenses of laparoscopic handheld minimally invasive surgery equipment are projected to boost the laparoscopic surgery segment from 2022 to 2031.
- Based on disease indication, the orthopedic surgery segment accounted for major share of the global industry in 2020 and the trend is projected to persist in the coming years. In 2017, there were reportedly 22 million orthopedic surgeries performed globally, and the number is only anticipated to rise. Consequently, global demand for these surgeries is increasing due to rise in number of orthopedic illnesses such as bone cancer and bone fractures.
- In terms of end-user, the hospitals segment is anticipated to dominate the global industry during the forecast period. This can be ascribed to rise in number of operating rooms in hospitals in developing countries. Besides, the number of patients who choose to visit hospitals has increased owing to healthcare reimbursements and accessibility of highly advanced minimally invasive surgical technology.
Global Minimally Invasive Surgery Market: Growth Drivers
- Benefits of minimally invasive surgery (MIS) over open surgery include less discomfort, quicker return to normal activities, and less time in hospitals. In comparison to open surgery, minimally invasive techniques are associated with much less blood loss and use of less painkiller. The number of patients who are aware of the advantages of minimally invasive procedures is rising. This is pushing medical equipment manufacturers to boost their production of minimally invasive surgery tools.
- Robotic surgery is a cutting-edge method that offers significant improvements in a range of surgical operations. A combination of technical advancements, including small & light materials and the adoption of improved motors and safety systems, is attributed to the rapid rise in the usage of robotic surgery for minimally invasive operations. Additionally, it is a more affordable variant. Robotic surgery’s high level of accuracy makes it easier to place implants precisely and lowers the likelihood of damaging nearby tissues. Reduced post-operative discomfort, bleeding, and re-admissions to the hospital are additional advantages for the patients, which are anticipated to create significant business opportunities in the global industry.
Global Minimally Invasive Surgery Market: Regional Landscape
- Based on region, Europe accounted for major market share in 2020. The region is likely to dominate the global market during the forecast period from 2022 to 2031. Rise in the number of elderly people is expected to augment the market in Europe. Approximately 19%, or one fifth, of the overall population of the European Union (EU) was 65 years of age or older in 2017, based on Eurostat.
Global Minimally Invasive Surgery Market: Key Players
- University of Pittsburgh Medical Center
- Apollo Hospitals Enterprise Limited
- Rutland Medical Center
- Boston Scientific Corporation
- Singapore General Hospital
- AG, Becton, Dickinson and Company
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Global Minimally Invasive Surgery Market: Segmentation
- Laparoscopic Surgery
- Robotic Surgery
- Endoscopic Mucosal Resection
- Endoscopic Submucosal Dissection
- Urology Surgery
- Thoracic Surgery
- Gynecology Surgery
- Vascular Surgery
- Cancer Surgery
- Breast Surgery
- Ear, Nose, and Throat Surgery
- Bariatric Surgery
- Cosmetic/Plastic Surgery
- General Surgery
- Cardiac Surgery
- Orthopedic Surgery
- Ambulatory Surgical Centers
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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