Minimally Invasive Surgery Market is Expected to Reach $74.6 billion | MarketsandMarkets™
Chicago, April 01, 2024 (GLOBE NEWSWIRE) -- *Minimally Invasive Surgery market* in terms of revenue was estimated to be worth $34.0 billion in 2024 and is poised to reach $74.6 billion by 2029, growing at a CAGR of 17.0% from 2024 to 2029 according to a latest report published by MarketsandMarkets™. The minimally invasive surgery market is driven by several factors contributing to its growth and increasing adoption. These driving factors include Increasing incidence of Technological advancements and growing demand for minimally invasive procedures.
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*Minimally Invasive Surgery** Market** Scope:*
*Report Coverage* *Details*
Market Revenue in 2024 $34.0 billion
Estimated Value by 2029 $74.6 billion
Growth Rate Poised to grow at a CAGR of 17.0%
Market Size Available for 2021–2029
Forecast Period 2024–2029
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Product, Application, End User and Region
Geographies Covered North America, Europe, Asia Pacific, Latin America and Middle East & Africa
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunity Emerging markets- growth opportunities
Key Market Driver Increase adoption of MIS over open surgeries
*"Surgical devices accounted for the largest share of the minimally invasive surgery market”*
Based on the product segment, the minimally invasive surgical market is segmented into – Surgical devices, Guiding devices, Inflation systems, and Laparoscopy devices. The Surgical devices are further segmented into – Handheld Instruments, Tubular retractors, Dilators, Suturing Instruments, Probes, and Laser fiber devices. The guiding devices are further segmented into- Guiding catheters and Guidewires. Guiding devices are essential in minimally invasive surgery (MIS) because they improve surgeons' visibility, navigation, and precision during procedures that require small incisions. The Inflation system is further divided into-Ballon catheters and Ballon inflation system. The Laparoscopy devices is further divided into -Laparoscope, Trocar and Cannula, RASP and Graspers and Dissectors. Laparoscopic instruments are used in laparoscopic surgery, which is a minimally invasive procedure performed on the abdomen or pelvis. These instruments include graspers, scissors, dissectors, needle holders, and retractors, which are placed through small incisions (ports) and handled by the surgeon to accomplish surgical procedures. During laparoscopic surgery, access ports are created in the abdominal wall using trocars and cannulas. Trocars are sharp-tipped tools that are inserted into the abdominal wall to open up space for laparoscopic instruments and cameras. Cannulas are hollow tubes that are inserted over the trocars to allow access to the surgical site while reducing gas escape’s
*"By Application the cardio-thoracic accounts for the largest segment in the minimally invasive surgery market.”*
The minimally invasive market based on application is segmented into cardiothoracic, urology, neurological surgeries, ENT & Respiratory surgery, Cosmetic surgery, Gastrointestinal & Abdominal surgery, Gynaecological surgery, Orthopedic, Oncology, Dental and other surgery. Minimally invasive surgery (MIS) has become integral in cardio-thoracic procedures, driven by technological advancements and patient demand for less invasive options. As a result, MIS in cardio-thoracic surgery represents a strategic investment for healthcare providers seeking to meet patient preferences and enhance clinical outcomes while optimizing operational efficiency.
*“By end user hospitals, clinics and ablation center accounts for the largest share in 2023.”*
The minimally invasive surgery market is classified into hospitals, clinics and ablation centers, Ambulatory surgical centers and orthopedic, emergency & Trauma centers and Others. The Hospitals and ablation centers accounts for the largest growth in the market. The large share of this segment can primarily be attributed to the large number of minimally invasive surgical procedures performed in hospitals due to the presence of highly skilled healthcare professionals
*“North America dominates the minimally invasive surgery market in 2023.”*
The minimally invasive surgery market is segmented across five prominent regions: North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. In 2023, the North American region emerged as the primary driver of the largest market share and the largest CAGR in the minimally invasive surgery market. North America, particularly the United States, is a centre of medical innovation and technological advancement. Many of the most recent advancements in minimally invasive surgical procedures, tools, and gadgets stem from research and development activities at North American medical institutions and firms. These developments help to increase the availability and use of MIS throughout the region.North America has a huge number of highly experienced surgeons and medical workers educated in minimally invasive surgical procedures. Academic medical centres, teaching hospitals, and surgical training programmes around the region offer extensive education and training in MIS, allowing surgeons to conduct difficult procedures with precision and proficiency.
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*Minimally Invasive Surgery market major players covered in the report, such as:*
· Medtronic plc (Ireland)
· Johnson & Johnson (US)
· Stryker Corporation (US)
· Abbott Laboratories, Inc. (US)
· Boston Scientific Corporation (US)
· B. Braun Melsungen AG (Germany)
· CONMED Corporation (US)
· Smith & Nephew plc (UK)
· Zimmer Biomet Holdings, Inc. (US)
· Becton, Dickinson and Company (US)
· The Cooper Companies Inc. (US)
· HOYA Corporation (Japan)
· Surgical Innovations Group plc (UK)
· Koninklijke Philips N.V. (Netherlands)
· FUJIFILM Holdings Corporation (Japan)
· and Among Others
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*This report has segmented the Minimally invasive surgery market based on Product, application and end user.*
*MINIMALLY INVASIVE SURGERY MARKET, BY PRODUCT (USD MILLION; 2021—2029)*
· SURGICAL DEVICES
· HANDHELD INSTRUMENTS
· Tubular Retractor
· Dilator
· Suturing Instruments
· Probes
· Laser fiber devices
· GUIDING DEVICES
· Guiding catheters
· Guidewires
· INFLATION SYSTEMS
· Balloon Catheters
· Balloon inflation system
· LAPAROSCOPY DEVICES
· Laparoscope
· Trocar and Cannula
· RASP (Robotic- Assisted Simple Prostatectomy)
· Graspers and Dissectors
· IMAGING & VISUALIZATION SYSTEMS
· Ultrasound
· CT imaging
· MRI imaging
· X-Ray imaging
· Visualization systems
· ELECTROSURGICAL DEVICES
· Electrosurgical generators & accessories
· Electrocautery devices
· ENDOSCOPY DEVICES
· Rigid endoscopes
· Flexible endoscopes
· Diagnostic endoscopes
· MEDICAL ROBOTICS
· Robotic Systems
· Robotic Instruments
· Robotic softwares & Services
*MINIMALLY INVASIVE SUREGRY MARKET, BY APPLICATION (USD MILLION; 2021—2029)*
· Cardio-Thoracic Surgery
· Vascular Surgery
· Neurological Surgery
· Ent & Respiratory Surgery
· Cosmetic Surgery
· Gastrointestinal & Abdominal Surgery
· Gynecological Surgery
· Urological Surgery
· Orthopedic Surgery
· Oncology Surgery
· Dental Surgery
· Others
*MINIMALLY INVASIVE SURGERY MARKET, BY END USER (USD MILLION; 2021—2029)*
· Hospitals, Clinics & Ablation centers
· Ambulatory Surgical Centers
· Orthopedic, Emergency & Trauma Centers
· Others
*MINIMALLY INVASIVE SURGERY MARKET, BY REGION*
· North America
· US
· Canada
· Europe
· Germany
· France
· UK
· Italy
· Spain
· Rest of Europe
· Asia Pacific
· Japan
· China
· India
· Australia
· South Korea
· Rest of Asia Pacific
· Latin America
· Brazil
· Mexico
· MEA
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*Key Market Stakeholders:*
· Manufacturers and distributors of minimally invasive surgical instruments
· Hospitals and clinics
· Ambulatory surgical centers
· Research and development (R&D) companies
· Clinical research organizations
· Research laboratories and academic institutes
· Minimally invasive surgical instruments service providers
· Government associations
· Venture capitalists and investors
*Report Objectives:*
· To define, describe, and forecast the minimally invasive surgery market on Product, application and end user.
· To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
· To strategically analyze the micro markets concerning individual growth trends, prospects, and contributions to the total market.
· To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
· To profile the key market players and comprehensively analyze their market shares and core competencies.
· To forecast the revenue of the market segments concerning five main regions, namely, North America (US and Canada), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), the Asia Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa.
· To track and analyze competitive developments such as new product launches and approvals; agreements, partnerships, expansions, acquisitions; and collaborations in the minimally invasive surgery market.
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