DUBLIN--(BUSINESS WIRE)--The "Global Minimally Invasive Surgical Systems Market: Focus on Product Type, Application, End Users, 25 Countries' Data, Patent Scenario, and Competitive Landscape - Analysis and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global minimally invasive surgical systems market is estimated to be valued at $27,882.8 million in 2020 and is anticipated to reach $55,716.7 million by the end of 2031, growing at a CAGR of 6.3% during 2021-2031.
As per the National Cancer Institute, minimally invasive surgery is defined as, "surgery that is done using small incisions (cuts) and few stitches. During minimally invasive surgery, one or more small incisions may be made in the body. A laparoscope (thin, tube-like instrument with a light and a lens for viewing) is inserted through one opening to guide the surgery. Tiny surgical instruments are inserted through other openings to do the surgery. Minimally invasive surgery may cause less pain, scarring, and damage to healthy tissue, and the patient may have a faster recovery than with traditional surgery."
As per the U.S. Food and Drug Administration (FDA), "Different types of computer-assisted surgical systems can be used for pre-operative planning, surgical navigation, and to assist in performing surgical procedures. Robotically assisted surgical (RAS) devices are one type of computer-assisted surgical system. Sometimes referred to as robotic surgery, RAS devices enable the surgeon to use computer and software technology to control and move surgical instruments through one or more tiny incisions in the patient's body (minimally invasive) for a variety of surgical procedures."
Key questions answered in the Report
- What are the key regulations governing the minimally invasive surgical systems market, across the globe?
- What are the key technological developments on which the current industry leaders are spending their major share of research and development (R&D) investment?
- How is the role of minimally invasive surgery technologies expected to evolve in the future?
- Who are the leading players who hold significant dominance on the global minimally invasive surgical systems market, currently?
- How likely are current business models to persist in the future?
- What are the key market drivers, challenges, growth opportunities, and trends?
- How do minimally invasive procedures function as compared to each other?
- How is the expiration of patents likely to disrupt the market dynamics?
- What are the key strategies incorporated by the leading players in the minimally invasive surgical systems landscape?
- What is the likelihood of new players entering the market in near term?
- What is the current revenue contribution for different endoscopes and endoscopy systems, and what are the expected modifications in the forecast period?
- What is the current revenue contribution for the different types of conventional minimally invasive surgical systems, and what are expected modifications in the same forecast period?
- What is the current revenue contribution for the different types of surgical robotic systems, and what are the expected modifications in the same forecast period?
- Which countries contribute to the major share of current demand and which countries hold significant scope for business expansion activities, by the key players?
Impact of COVID-19
The COVID-19 pandemic had a huge impact on elective surgical procedures in the first half of 2020. The COVID-19 pandemic has drastically impacted the daily hospital routine services on the global level. During the initial phase of the pandemic, hospitals greatly reduced or cancelled conducting elective surgical procedures for patient safety and to prioritize the care treatments for patients with COVID-19.
The reduction in the volume of elective surgical procedures on a large scale had a substantial impact on patients as well as a financial impact on the medical device manufacturers. This resulted in the decreased sales of the minimally invasive surgical systems.
Market Dynamics
Drivers
- Rising Incidence of Chronic Diseases
- Advantages Over Open Surgeries
- Increase in Global Geriatric Population
- Increasing Healthcare Costs
- Technological Advancements in Surgical Procedures and Technologies
Challenges
- High Cost of Minimally Invasive Surgical Robotic Systems
- Shortage of Skilled Professionals
- Restrictive Reimbursement Landscape
Opportunities
- Engage in Mergers and Acquisitions to Diversify Endoscopic Portfolio
- Development of Surgical Simulators for the Training of Professionals
- Development of Low-Cost Surgical Robotic Systems
Companies Mentioned
- Arthrex Inc.
- Asensus Surgical, Inc.
- Boston Scientific Corporation
- Conmed Corporation
- Fujifilm Holdings Corporation
- Intuitive Surgical, Inc.
- Karl Storz SE & Co. KG
- Medtronic plc
- Olympus Corporation
- Hoya Corporation (Pentax Medical)
- Siemens Healthineers AG
- Smith & Nephew plc
- Sony Corporation
- Stryker Corporation
- Zimmer Biomet Holdings, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/biyr31
