Minimally Invasive Surgical Instruments Market Strategies: Enhancing Surgical Efficiency
The global minimally invasive surgical instruments market size is expected to reach USD 63.0 billion by 2030, registering a CAGR of 10.4% during the forecast period, according to a new report by Grand View Research, Inc. The preference for minimally invasive surgical (MIS) procedures is rising as they are less traumatic than traditional open surgeries and they facilitate faster recover process. Patients can resume their daily activities in a shorter time after minimally invasive surgical procedures.
In addition, the costs involved in MIS procedures are significantly less than in-patient and conventional open surgeries. Therefore, MIS procedures prove to be beneficial for patients as well as payers. The benefits of MIS in various areas of orthopedics have contributed to the growing demand for less traumatic alternatives with minimum tissue disruption of bones.
Noncommunicable Diseases (NCDs), often known as chronic diseases, affect more than 41 million individuals each year, accounting for approximately 74% of all deaths worldwide. According to the same source, nearly 15 million people aged 30 to 69 die worldwide each year as a result of NCDs. As a result of the high mortality rate due to NCDs, the need for therapeutic techniques is increasing. Minimally invasive techniques are gaining traction as they offer more benefits than regular procedures. As a result, the market under consideration is anticipated to grow over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Minimally Invasive Surgical Instruments Market
Minimally Invasive Surgical Instruments Market Highlights
- Minimal invasive technologies are designed to cause less trauma than traditional open surgeries, reduced blood loss, minimal scarring, and low chances of infection
- Handheld instruments dominated the device segment in terms of revenue share in 2023. On the other hand, electrosurgical devices are expected to witness the fastest growth rate during the forecast period from 2024 to 2030.
- Orthopedic segment dominated the application segment in terms of revenue share in 2023. Minimally invasive surgical procedures in various areas of orthopedics offer surgical alternatives with minimum tissue disruption
- Continuous adoption of minimally invasive surgical techniques for spine related procedures has led to the expansion of procedural volumes for orthopedic MIS
- Hospital segment held most of the end use segment share in 2023. On the other hand, ambulatory surgically centers are likely to experience fastest growth in the coming years.
- Ambulatory surgical centers offer same day surgery and discharge at lower costs. At present, over 5,500 Medicare certified ambulatory care centers are present in the U.S.
- North America held majority of the market share in 2023 due to the presence of supportive reimbursement framework for innovative MIS devices and procedures.
Browse through Grand View Research's Medical Devices Industry Research Reports.
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Minimally Invasive Surgical Instruments Market Segmentation
Grand View Research has segmented the global minimally invasive surgical instruments market on the basis of device, application, end-use, and region:
Minimally Invasive Surgical Instruments Device Outlook (Revenue, USD Million, 2018 - 2030)
- Handheld Instruments
- Inflation Devices
- Cutter Instruments
- Guiding Devices
- Electrosurgical Devices
- Auxiliary Devices
- Monitoring & Visualization Devices
Minimally Invasive Surgical Instruments Application Outlook (Revenue, USD Million, 2018 - 2030)
- Cardiac
- Gastrointestinal
- Orthopedic
- Vascular
- Gynecological
- Urological
- Thoracic
- Cosmetic
- Dental
- Others
Minimally Invasive Surgical Instruments End-use Outlook (Revenue, USD Million, 2018 - 2030)
- Hospitals & Clinics
- Ambulatory Surgical Centers
Minimally Invasive Surgical Instruments Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Thailand
- Latin America
- Mexico
- Brazil
- Argentina
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Kuwait
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