Minimally Invasive Surgical Instruments Industry

The global minimally invasive surgical instruments market size was estimated at USD 31.65 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 10.4% from 2024 to 2030. Surgical robots have revolutionized the field of minimally invasive surgeries (MIS) and their acceptance by the surgeons is rising globally. The cost of MIS procedures is significantly less than in-patient and conventional open surgeries with equal outcomes resulting in a significant increase in value for the patient as well as insurance providers.

This trend is likely to continue in the coming years. Increasing number of new product launches and a growing number of product approvals by several market players for gaining a larger market share are anticipated to create robust growth opportunities for the industry. For instance, in December 2022, Abbott announced the launch of Navitor, an advanced transcatheter aortic valve implantation system. The device has wide application scope in the management of aortic stenosis.

Gather more insights about the market drivers, restrains and growth of the Global Minimally Invasive Surgical Instruments market

Minimally Invasive Surgical Instruments Market Segments Highlights:

End-use Insights

Based on end-use, the global market is further segmented into hospitals and ambulatory surgical centers (ASCs). The hospitals end-use segment captured the largest revenue share of 68.8% in 2023 owing to an increase in the prevalence of chronic disorders among the elderly population, which led to a rise in the number of hospital admissions for the treatment of chronic ailments.

Regional Insights

North America dominated the market with a share of 29.9% in 2023 due to the presence of well-established healthcare infrastructure, favorable government reimbursement policies, and high prevalence of chronic diseases. Asia Pacific is expected to witness the fastest CAGR of 10.8% from 2024 to 2030 owing to improving healthcare infrastructure and increasing government initiatives. Moreover, economic development in countries, such as India and Japan, are expected to contribute to regional market growth.

Market Dynamics Insights

The benefits of MIS procedures in healthcare include minimized patient trauma & discomfort, lower risk of infection, and quicker procedure & recuperation periods, which usually result in reduced healthcare expenditures. The necessity to undertake highly skilled activities utilizing specialized tools with limited visibility along with ranges of motion, on the other hand, introduced higher levels of experience for the surgical team, ranging from endoscopic surgeons & robotic procedure specialists to interventional radiologists. Endoscopic cameras, visualization scanners, nonmagnetic monitoring, specialized devices & catheters, contrast injectors, and pricey robotic systems are examples of support equipment.

Device Insights

Based on device, the market is segmented into handheld instruments, cutter instruments, monitoring & visualization devices, inflation devices, guiding devices, electrosurgical devices, and auxiliary devices. In 2023, the handheld instruments segment led the market with a revenue share of 22.1%. Handheld instruments reduce the damage to extraneous tissues, thereby speeding up patient recovery while reducing discomfort & other adverse effects. Most MIS handheld instruments are single-use products.

Application Insights

Based on application, the market is classified into cardiac, gastrointestinal, orthopedic, dental, cosmetic, vascular, thoracic, gynecological, urological, and others. Orthopedics was the largest application segment in 2023 and accounted for a revenue share of 23.6%. Minimally invasive surgery is typically utilized in knee and hip replacement procedures. Hospitals and surgeons prefer surgical procedures that have fewer operative and postoperative complications, as well as reduced hospitalization periods. On the other hand, patients seek surgical treatments that reduce trauma and facilitate speedy recovery.

Browse through Grand View Research's Medical Devices Industry Research Reports.

• The global surgical robots market size was estimated at USD 3.92 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 9.5% from 2024 to 2030.
• The global ambulatory surgery centers market size was estimated at USD 134.95 billion in 2023 and is expected to expand at a CAGR of 6.25% during the forecast period.

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

Segments Covered in the Report

Grand View Research has segmented the global minimally invasive surgical instruments market on the basis of device, application, end-use, and region:

Minimally Invasive Surgical Instruments Device Outlook (Revenue, USD Million, 2018 - 2030)

• Handheld Instruments
• Inflation Devices
• Cutter Instruments
• Guiding Devices
• Electrosurgical Devices
• Auxiliary Devices
• Monitoring & Visualization Devices

Minimally Invasive Surgical Instruments Application Outlook (Revenue, USD Million, 2018 - 2030)

• Cardiac
• Gastrointestinal
• Orthopedic
• Vascular
• Gynecological
• Urological
• Thoracic
• Cosmetic
• Dental
• Others

Minimally Invasive Surgical Instruments End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals & Clinics
• Ambulatory Surgical Centers

Minimally Invasive Surgical Instruments Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Thailand
• Latin America
  • Mexico
  • Brazil
  • Argentina
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait

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