Minimally Invasive Surgical Instruments Market

Global Minimally Invasive Surgical Instruments Market, By Product (Handheld Instruments, Inflation Devices, Surgical Scopes, Cutting Instruments, Guiding Devices, Electrosurgical & Electrocautery Instruments), By Type of Surgery (Cardiothoracic Surgery, Cosmetic & Bariatric Surgery, Gynecological Surgery, Gastrointestinal Surgery, Other Surgeries, Urological Surgery, Orthopedic Surgery), By End User (Hospitals, Ambulatory Surgery Centers & Clinics), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: August 2021
  • Report ID: BWC2111
  • Available Format: PDF
  • Page: 200

Report Overview

Laparoscopic surgery, also known as minimally invasive surgery, is a procedure that involves making small incisions in the body. Tiny cameras and instruments are utilized to perform the procedure. There has been an explosion in the popularity of minimally invasive surgeries in operation theaters since they minimize the amount of damage caused to the body, something that can be a concern with open surgeries.

Global Minimally Invasive Surgical Instruments Market- Industry Trends & Forecast Report 2027

The global minimally invasive surgical instruments market was worth USD 21.7 billion in 2020. The market is growing substantially and is further projected to reach USD 36.0 billion by the year 2027, growing at the CAGR of 7.6% during the forecast period. The burgeoning need for minimally invasive surgical procedures as a result of their numerous benefits such as faster recovery time and reduced pain is a major factor influencing the demand for minimally invasive surgical instruments. Moreover, the cost-effectiveness of minimally invasive surgeries as compared to open surgeries also contributes to the growth of the minimally invasive surgical instruments market.


Global Minimally Invasive Surgical Instruments Market- Overview

Laparoscopic surgery, also known as minimally invasive surgery, is a procedure that involves making small incisions in the body. Tiny cameras and instruments are utilized to perform the procedure. There has been an explosion in the popularity of minimally invasive surgeries in operation theaters since they minimize the amount of damage caused to the body, something that can be a concern with open surgeries. Additionally, minimally invasive surgeries result in shorter hospital stays due to shorter operating times, fewer post-operative complications, and less post-operative pain.

Global Minimally Invasive Surgical Instruments Market Forecast and Trends

Growth Drivers

Ever-Increasing Demand for Minimally Invasive Surgeries

The preference of patients for minimally invasive surgery over traditional open surgery is rapidly shifting and driving the growth of the minimally invasive surgical instruments market. The reason for this is that these procedures provide the same results as traditional open surgery, while also offering other advantages such as less pain, less blood loss, minimal to no scar, and so on. A minimally invasive surgery has fewer postoperative complications and is less painful on the patient's body because it uses smaller incisions. Their recovery time is thus much faster, and they may require only small amounts of pain relievers. This is why the global minimally invasive surgical instruments market is flourishing at such a high rate.

Increasing Prevalence of Various Chronic Diseases

The use of minimally invasive surgery is increasing due to numerous chronic diseases such as appendicitis, pancreatitis, thyroid problems, and irritable bowel syndrome. Surgery involving minimally invasive techniques is available in many fields such as colorectal surgery, heart surgery, kidney surgery, neurosurgery, and urology. According to the WHO, sixteen million people die each year from non-communicable diseases before the age of 70. Due to such a high prevalence of chronic diseases across the globe, the demand for minimally invasive surgical instruments is gaining significant traction worldwide.

Restraints

Limited Skilled Surgeons in The Emerging Economies

A shortage of skilled surgeons makes minimally invasive surgeries much more common in developed countries than in developing countries. Minimally invasive surgeries require a keen degree of precision and proficiency with medical instruments like surgical scopes and inflation devices. However, the migration of skilled doctors from emerging economies to developed countries like the US or UK, or Germany for better pay is limiting the growth of the global minimally invasive surgical instruments market in the emerging economies.

Impact of COVID-19 on Global Minimally Invasive Surgical Instruments Market

In the wake of the COVID-19 pandemic, several industries, including surgical procedures and minimally invasive surgery have suffered a blow. Due to the highly contagious nature of the virus, which may affect both patients and hospital staff, the regulatory bodies across the globe immediately postponed all elective surgeries. Furthermore, the surging cases of COVID-19 had burdened healthcare facilities. Because of this, the minimally invasive procedures were delayed in order to control the hospital visits of people and to maximize the quality of care offered to COVID-19-infected patients. Consequently, the demand for minimally invasive surgical instruments witnessed a sharp decline, which in turn affected the market revenue negatively.

Global Minimally Invasive Surgical Instruments Market - By Product

Based on products, the global minimally invasive surgical instruments market is segmented into handheld instruments, inflation devices, surgical scopes, cutting instruments, guiding devices, and electrosurgical & electrocautery instruments. Among these, the handheld instruments segment captured the largest market share. Among the factors driving the demand for handheld instruments are the cost advantages they offer. This segment is further classified into graspers, retractors/elevators, suturing instruments, and dilators. These single-use products are mainly utilized for making small incisions which speed up the recovery time.

Global Minimally Invasive Surgical Instruments Market - By Type of Surgery

Based on the types of surgery, the global minimally invasive surgical instruments market is categorized into cardiothoracic surgery, cosmetic & bariatric surgery, gynecological surgery, gastrointestinal surgery, other surgeries, urological surgery, and orthopedic surgery. Cardiothoracic surgery received the largest market share because of the large geriatric population and high prevalence of cardiovascular diseases worldwide. Furthermore, the increasing prevalence of cardiovascular diseases, such as cardiomyopathy, congenital heart, and hypertension in young adults is also driving the demand for minimally invasive surgeries, thereby driving the growth of the minimally invasive surgical instruments market.

Global Minimally Invasive Surgical Instruments Market - Regional Insights

Geographically, the global minimally invasive surgical instruments market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among these regions, North America dominates this market because of the high demand for various surgical procedures. It is estimated that minimally invasive surgeries saw a growth of over 50% in the United States alone. Furthermore, the United States leads the world in plastic surgery procedures performed each year, with over 17.7 million surgical and minimally invasive cosmetic procedures performed in 2018. As a result, the demand for minimally invasive surgical instruments is also flourishing.


Competitive Landscape

The leading market players in the global minimally invasive surgical instruments market are Zimmer Biomet Holdings Inc, Boston Scientific Corporation, Abbott Laboratories, B. Braun Melsungen AG, Stryker Corporation, Johnson & Johnson, GE Company, HOYA Corporation, Smith & Nephew, Becton, Dickinson and Company, Intuitive Surgical Inc., Surgical Innovations Group PLC, Siemens Healthineers, Applied Medical Resources Corporation, Koninklijke Philips NV, FUJIFILM Holdings Corporation, Olympus Corporation, Karl Storz, Medtronic PLC, and other prominent players.

The global minimally invasive surgical instrument market is considered highly dense with the presence of several global as well as regional industry players who cover substantial shares in the market. The market players offer a wide range of products to stay ahead in the competition. Additionally, they often indulge in product approvals and launches in different geographies. Furthermore, these companies are also adopting competitive strategies like partnerships, mergers, acquisitions, collaborations, etc. to increase their market presence and penetration.

Recent Developments

  •   In July 2021, Anchora Medical, an Israeli medical device company, announced to have received the 510(K) clearance from the US Food and Drug Administration (FDA) to market its Su2ura approximation device, an automated suturing device used in laparoscopic surgery in the US market.
  •   In June 2021, New View Surgical Inc., a medical device company, announced to have received 510(K) clearance from the US Food and Drug Administration for its Vision Port System.

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Million

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia

Product Service/Segmentation

By Product, By Type of Surgery, By End User, By Region

Key Players

Zimmer Biomet Holdings Inc, Boston Scientific Corporation, Abbott Laboratories, B. Braun Melsungen AG, Stryker Corporation, Johnson & Johnson, GE Company, HOYA Corporation, Smith & Nephew, Becton, Dickinson and Company, Intuitive Surgical Inc., Surgical Innovations Group PLC, Siemens Healthineers, Applied Medical Resources Corporation, Koninklijke Philips NV, FUJIFILM Holdings Corporation, Olympus Corporation, Karl Storz, Medtronic PLC, and other prominent players.

By Product

Ø  Handheld Instruments

Graspers

Retractors/Elevators

Suturing Instruments

Dilators

Ø  Inflation Devices

Balloons

Balloon Inflation Devices

Ø  Surgical Scopes

Ø  Cutting Instruments

Trocars

Other Cutting Instruments

Ø  Guiding Devices

Guiding Catheters

Guidewires

Ø  Electrosurgical & Electrocautery Instruments

Electrosurgical Instruments

Electrocautery Devices

By Type of Surgery

Ø  Cardiothoracic Surgery

Ø  Cosmetic & Bariatric Surgery

Ø  Gynecological Surgery

Ø  Gastrointestinal Surgery

Ø  Other Surgeries

Ø  Urological Surgery

Ø  Orthopedic Surgery

By End User

Ø  Hospitals

Ø  Ambulatory Surgery Centers & Clinics

By Region

Ø  North America

Ø  Europe

Ø  Asia-Pacific (APAC)

Ø  Latin America (LATAM)

Ø  Middle-East & Africa (MEA)

FAQs:

1. What is the current size of the global minimally invasive surgical instruments market?

Answer: The global minimally invasive surgical instruments market reached USD 21.7 billion in 2020.

2. What are the major factors driving the growth of the global minimally invasive surgical instruments market?

Answer: A growing demand for minimally invasive and surgical procedures, as well as the rising prevalence of chronic diseases, are the major factors driving the growth of the global minimally invasive surgical instruments market.

3. Who are the key players in the global minimally invasive surgical instruments market?

Answer: The key players in the global minimally invasive surgical instruments market are Zimmer Biomet Holdings Inc, Boston Scientific Corporation, Abbott Laboratories, B. Braun Melsungen AG, Stryker Corporation, Johnson & Johnson, GE Company, HOYA Corporation, Smith & Nephew, Becton, Dickinson and Company, Intuitive Surgical Inc., Surgical Innovations Group PLC, Siemens Healthineers, Applied Medical Resources Corporation, Koninklijke Philips NV, FUJIFILM Holdings Corporation, Olympus Corporation, Karl Storz, Medtronic PLC, and other prominent players.

4. Which end-user segment accounted for the largest share in the global minimally invasive surgical instruments market?

Answer: The hospital segment accounted for the largest share in the global minimally invasive surgical instruments market.

5. Which region is at the highest growth rate in the global minimally invasive surgical instruments market?

 

Answer: North America has the largest share in the global minimally invasive surgical instruments market.