Global Minimally Invasive Surgery Market by Product (Surgical Devices, Monitoring & Visualization Systems, Endosurgical Equipment, Electrosurgical Equipment), By Application (Gastrointestinal Surgery, Gynecology Surgery, Urology Surgery, Cosmetic Surgery, Obesity Surgery, Thoracic Surgery, Vascular Surgery, Orthopaedic Surgery), By Technology (Transcatheter Surgery, Laparoscopy Surgery, Non-Visual Imaging, Medical Robotics), By End User (Hospital Surgical Departments, Outpatient Surgery Centers, Group Practices, Individual Surgeons), By Geography – Industry Trends and Forecast to 2024
The Global Minimally Invasive Surgery Market accounted to USD 37.27 billion in 2016 growing at a CAGR of 11.3% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Major Market Competitors: Global Minimally Invasive Surgery Market
Some of the major players operating in minimally invasive surgery market are Medtronic, Johnson & Johnson Private Limited, B. Braun Melsungen AG, Stryker, Smith & Nephew, Abbott, Applied Medical Resources Corporation, CONMED Corporation, Hoya Group, Zimmer Biomet, Bema Medical, Elite Life Care, Tegra Medical, Fortimedix Surgical, Eurosurgical, GENICON, Europages, MEDI-GLOBE CORPORATION, Silex Medical, LLC, Freudenberg Medical and Elliott Manufacturing among others.
Competitive Analysis:
The minimally invasive surgery market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of minimally invasive surgery market for global, Europe, North America, Asia Pacific and South America.
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Market Definition:
Minimally invasive surgeries are the surgery with tinniest incision instead open surgeries, which helps to reduce the pain, recovery timing and hospital stay. The chronic diseases such as cardiovascular diseases, arthritis, cancer requires minimally invasive surgeries. All these surgeries are done with endoscope, which helps surgeons to operate the surgical area. Less trauma and fastest recovery boosts the growth of the market.
Major Market Drivers and Restraints:
• Less pain and better results boosts the market
• Less hospital stay and fast recovery
• Rise in geriatric population with chronic diseases
• Technologically advanced products in imaging endoscopes
• Benefits of minimally invasive surgeries over traditional open surgeries
• High price of minimally surgical instruments
• Lack of skilled surgeons is the challenge in the market
Market Segmentation:
The minimally invasive surgery market is segmented by product into surgical devices, monitoring & visualization systems, endosurgical equipment and electrosurgical equipment.
Electrosurgical instruments are sub segmented into electrosurgical generators, electrosurgical instruments and electrocautery devices.
On the basis of application :- Gastrointestinal surgery, gynecology surgery, urology surgery, cosmetic surgery, obesity surgery, thoracic surgery, vascular surgery and orthopaedic surgery.
By technology :- Transcatheter surgery, laparoscopy surgery, non-visual imaging and medical robotics.
By end user :- Hospital surgical departments, outpatient surgery centers, group practices and individual surgeons.
On the basis of geography:- North America & South America, Europe, Asia-Pacific, and Middle East & Africa.
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