DUBLIN--(BUSINESS WIRE)--The "Minimally Invasive Surgical Instruments Market by Product (Handheld Instruments, Inflation Devices, Surgical Scopes), Type of Surgery (Cardiothoracic, Gastrointestinal), End User (Hospitals, Ambulatory Surgery Centers and Clinic) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The MIS instruments market is expected to grow from USD 20.1 billion in 2019 to USD 32.7 billion by 2025, at a CAGR of 8.5% during the forecast period.
The major factors driving the growth of this market include the advantages of minimally invasive surgeries over traditional open surgeries and the increasing number of minimally invasive surgical procedures across the globe.
The handheld instruments segment commanded the largest share of the market in 2018.
On the basis of product, the market is broadly segmented into handheld instruments, inflation devices, surgical scopes, cutting instruments, guiding devices, electrosurgical & electrocautery instruments, and other instruments. The handheld instruments segment accounted for the largest share of the market in 2018. This is largely because of the increasing number of surgical procedures and the development of high-dexterity, low-cost articulating laparoscopic handheld surgical instruments.
The cardiothoracic surgery segment dominated the market, by type of surgery, in 2018.
Based on type of surgery, the MIS instruments market is segmented into cardiothoracic surgery, gastrointestinal surgery, orthopedic surgery, gynecological surgery, cosmetic & bariatric surgery, urological surgery, and other surgeries. The cardiothoracic surgery segment dominated the market in 2018, due to the rising prevalence of cardiac diseases, growing awareness about the benefits of early detection of cardiovascular complications, the growing number of coronary and percutaneous cardiology interventions, and increasing adoption of MIS instruments owing to their convenience and better results as compared to other techniques.
The hospitals segment commanded the largest share of the MIS instruments market in 2018.
Based on end user, the MIS instruments market has been categorized into hospitals and ambulatory surgery centers & clinics. The hospitals segment commanded the largest share of the market in 2018. The large number of minimally invasive surgical procedures performed in hospitals due to the presence of highly skilled healthcare professionals is a major factor driving market growth.
The Asia Pacific region to register the highest growth in the global MIS instruments market during the forecast period.
The Asia Pacific is estimated to grow at the highest CAGR during the forecast period. Factors such as the presence of a large patient pool undergoing surgical treatments, growing awareness about modern surgical instruments and techniques, and the implementation
Market Dynamics
Drivers
- Benefits of Minimally Invasive Surgeries Over Traditional Open Surgeries
- Increasing Number of Surgeries
Restraints
- Uncertain Regulatory Framework in the Medical Device Industry
- Limited Reimbursement for Surgical Products
Opportunities
- Growth Opportunities in Emerging Markets
- Growing Public-Private Initiatives to Support Research Activities on Minimally Invasive Surgical Instruments
Challenges
- Dearth of Skilled Surgeons
Companies Profiled
- Medtronic PLC
- Johnson & Johnson
- Stryker Corporation
- B. Braun Melsungen AG
- CONMED Corporation
- Smith & Nephew PLC
- Abbott Laboratories
- Zimmer Biomet Holdings, Inc.
- Boston Scientific Corporation
- Becton, Dickinson and Company
- HOYA Corporation
- The Cooper Companies, Inc.
- Surgical Innovations Group PLC
- Omniguide Holdings Inc.
- Applied Medical Resources Corporation
- Karl Storz
- Koninklijke Philips N.V.
- FUJIFILM Holdings Corporation
- KLS Martin
- Scanlan International Inc.
- Biolitec AG
For more information about this report visit https://www.researchandmarkets.com/r/54bnru
