Minimally Invasive Surgery Market is valued around USD 39.38 Billion in 2019 and expected to reach USD 90.89 Billion by 2030 with the CAGR of 7.9% over the forecast period.
Minimally Invasive Surgery is a surgical procedure which involves the small tools with minimal or no incision to reduce the patient trauma. These surgeries offer various advantages over the conventional surgical procedures and different surgeries can be easily performed with reduced complication along with better results & high accuracy. These surgeries also avoid the excess blood loss with fast recovery and short hospital stay.
Global Minimally Invasive Surgery Market report is segmented on the basis of product, application, end user and by regional. Based upon product, the minimally invasive surgery market is fragmented into Handheld Instruments, Electrosurgical Instruments, Guiding Devices, Inflation Systems, Auxiliary Instruments, and Cutter Instruments. On the basis of application, the market is categorized into Cardiothoracic Surgery, Gastrointestinal surgery, Orthopedic Surgery, Gynecological Surgery, Vascular Surgery, Cosmetic/Bariatric Surgery, Urological Surgery, and Other. On the basis of end user, the market is divided into Hospitals, clinics and Academic and Research Institutes. The regional bifurcation of countries includes North America, Europe, Asia-Pacific, and RoW which are further segmented into major countries such as U.S., UK, France, and others.
The minimally invasive surgery market is mainly driven by the high prevalence rate of chronic disorders such as cardiovascular disorders, arthritis and others. In addition, growing bariatric & laparoscopic surgeries with rising demand of faster recovery as well as high success rates are driving the market growth. Moreover, technological advancements with large geriatric population base and wide applications of minimally invasive surgical procedure along with surge in the minimally invasive procedures over the period of time. However, high cost of the surgical procedures with poor reimbursement policies may impede the market. Moreover, aggressive R&D as well as rapid expansion of product portfolio can create new avenues in the minimally invasive surgical procedures.
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The developed regions such as North America and Europe are expected to hold the major market share owing to the presence of major market players in the region. Moreover, due to the presence of well-established healthcare facilities & infrastructure along with advanced technology. Moreover, Asia Pacific is expected to dominate the minimally invasive surgery market in terms of growth rate. The presence of developing healthcare facilities, high prevalence rate of chronic disorders, growing healthcare expenditure and high consumer awareness are likely to support the market growth.
The major market players profiled in the minimally invasive surgery market includes Abbott Laboratories, Intuitive Surgical Inc., Olympus Corporation, Koninklijke Philips NV, Smith & Nephew, GE Healthcare, Medtronic PLC, Siemens Healthineers, Zimmer Biomet, Stryker Corporation among others.
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