According to the report Global minimally invasive surgical instruments market, published by Market Data Forecast, the Market is expected to reach USD 18.16 billion by 2021 from USD 11.18 billion in 2016, growing at a CAGR of 10.19% for the next five years 2016-2021
Minimally invasive surgical procedures involve the use of surgery instruments (such as arthroscopic or laparoscopic devices) and remote controlled instruments to monitor the surgery through large display panel or endoscopy. Minimally invasive procedures eliminate large incisions & infections, reduce the long time hospital admission, and promote the early recovery.
Currently, the utilization of minimally invasive surgical instruments has been increased. Some of the minimally invasive surgical instruments include, visualizing scope, stents, sutures, dilators, electrosurgical instruments, balloon inflation devices, guiding catheters, trocars, rasps, and cannulas, among others.
Growth of global minimally invasive surgical instruments market is attributed to rising number of surgeries, increasing number of lifestyle disorders, and technological advancements. Moreover, the key benefits offered by minimally invasive surgeries such as reduction in healthcare cost (reduced long time hospital admission & unnecessary travel costs) and early recovery from surgery as compared to traditional open surgeries are further driving the growth of global minimally invasive surgical instruments market.
However, certain limitations pertaining to minimally invasive surgery (such as not suitable for high body mass index, skin adhesions conditions) and risks & complications associated with this surgery (such as complications of anesthesia, bleeding) are some of the factors restraining the growth of global minimally invasive surgical instruments market.
The Global Market for minimally invasive surgical instruments is broadly categorized based on product, application, end users and Region.
1. Based on Product
• handheld instruments
• electrosurgical devices
• inflation systems
• guiding devices
• cutter instruments
• auxiliary instruments
2. Based on Application
• Vascular and other applications
3. Based on End User
• private hospitals & surgical clinics
• government hospitals
• academic & research institutes
4. Based on Region
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The key players in global minimally invasive surgical instruments market such as, Medtronic plc (Ireland), Ethicon, Inc. (U.S.), Aesculap, Inc. (Germany), Stryker Corporation (U.S.), Smith & Nephew (U.K.), ConMed Corporation (U.S.), Abbott Laboratories (U.S.), Applied Biomedical Resources Corporation (U.S.), Microline Surgical (Japan), and Zimmer Biomet (U.S.).
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