Minimally Invasive Surgical Instruments Market Size and Share Analysis by Type (Handheld Instruments, Guiding Devices, Inflation Systems, Electrosurgical Instruments), Application (Laparoscopy, Cardiovascular, Cosmetic Surgery, Orthopedic Surgery, Obstetrics and Gynecology, Ophthalmology, Neurosurgery, Urology), End User (Hospitals, ASCs, Research Institutes) – Global Industry Demand Forecast to 2030

Market Overview

The global minimally invasive surgical instruments market was valued at $21,312.4 million in 2022, and this number is expected to reach $37,155.7 million by 2030, advancing at a CAGR of 7.2% during 2022–2030. This can be attributed to the rising R&D investment in the healthcare sector, high adoption rate of advanced innovative technology in healthcare, growing prevalence of chronic disorders, and rising burden of non-communicable diseases.

Moreover, the rising aging population, surging concern of people towards aesthetics and physical appearance, and government favorable policies and subsidies are the factors responsible for the market demand in the coming years.

Handheld Instrument Category Contributes Majority of Revenue

The handheld instruments category accounted for the largest revenue share of around 40% in 2022, and it is expected to maintain its dominance during the prediction period. This is due to the increasing adoption of such instruments for various MIS surgeries, surging acceptance of robotic surgeries, and rising preference of surgeons for such instruments. Moreover, these instruments are cost-efficient, easy to operate, and majorly used across the globe, resulting in high sales in the category. The category includes several types of instruments, among which cutters generates the majority of revenue in 2022.

Increasing Preference for MISs Drives Market

There has been a paradigm shift in surgical procedures from conventional surgeries to minimally invasive surgeries. Minimally invasive surgeries are video-assisted and are more accurate. These surgeries involve less scarring and smaller incisions, retaining the organ’s original structure without deforming layers of its cellular. Moreover, carbon dioxide is used in minimally invasive surgery to enlarge the abdominal cavity to reduce blood loss during surgery. Moreover, less post-operative pain in minimally invasive surgeries contributes to the growing popularity of minimally invasive surgeries.

Further, there is a significant increase in the geriatric population, image perfection trend, and health awareness, globally. Moreover, the geriatric population is vulnerable to various chronic diseases, such as cardiovascular diseases, cancer, obesity, and arthritis. Moreover, plastic and reconstructive surgeries, which are generally performed for cosmetic purposes, have also gained popularity.

Cardiovascular Surgery Generates Highest Revenue

Cardiovascular surgery accounted for the highest revenue share of around 25% in 2022, and it is further expected to maintain its position during the forecast period. This can be ascribed to the fact that MIS procedures provide numerous advantages over conventional surgical procedures, such as reduced blood loss, shorter hospital stay as well as recovery time, and lower surgical trauma; rising number of cardiovascular procedures owing to the increase in CVDs; surging adoption of advanced technology to perform such surgeries, and escalating count of patients in hospitals.

Furthermore, the orthopedic surgery category will witness substantial growth during the predicted period. This is due to the skyrocketing incidence of orthopedic disorders, burgeoning elderly population, growing number of roads injuries, surging demand for devices that support an immediate cure, and increasing R&D spending by key players.

Rise in Government Healthcare Expenditure

The governments of all regions have increased their expenditure in the healthcare sector. According to the World Bank, the global expenditure on healthcare has significantly increased from 9.5% of gross domestic product (GDP) in 2010 to 9.8% of GDP in 2019.

Furthermore, this increase is expected to result in upgraded infrastructure, especially medical instruments used in public healthcare centers. This fact is expected to grow in account of minimally invasive surgeries in public healthcare centers thereby increasing the minimally invasive surgical instruments market.

ASCs Will Register Remarkable Growth

ASCs will register significant growth during the coming years, advancing at a CAGR of more than 8%. This can be ascribed to the burgeoning number of such centers, cost-effective treatment, high adoption rate of MIS procedures, rise in cosmetic procedures, and increasing trend of outpatient facilities. Moreover, rising surgical procedures in ambulatory settings due to the non-availability of beds & longer waiting times in hospitals and increase in acceptance of less complex minimally invasive surgery in ambulatory centers are expected to drive the category growth.

Moreover, hospitals accounted for the highest revenue share in 2022, and it is will maintain their dominance during the prediction period. This can be attributed to the high availability of skilled surgeons, high patient preference and satisfaction, operate complex surgical procedures, increase in awareness about the availability of innovative products, and need to upgrade their devices and services. Furthermore, minimally invasive surgeries are widely operated in hospitals as they can afford higher installation & maintenance costs of the complex minimally invasive surgical instruments.

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Emerging Economies Will Witness Lucrative Opportunities

The growth of such instruments market is predicted to be catalyzed by opportunities in untapped and emerging markets with high potential due to improved healthcare infrastructure, unmet healthcare needs, rise in chronic diseases, and increase in demand for cost-effective and low recovery time surgeries. In addition, the healthcare industry in emerging economies is growing at a significant rate owing to augmentation in demand for better healthcare services, significant investments by governments to improve healthcare infrastructure, and growth of the medical tourism industry in such countries.

The trend of medical tourism is increasing in emerging economies such as India, China, Thailand, Brazil, Malaysia, Mexico, and South Korea increasing the number of surgical procedures performed and offering high growth opportunities for minimally invasive surgical instruments. According to the report of Organization for Economic Co-operation and Development (OECD), healthcare is costlier in developed countries. However, developing countries, such as India and Columbia are very popular because of the high-quality care available at lower costs.

North America Will Maintain Its Dominance

North America led the market, with a revenue share of around 40% in 2022, and it is further expected to maintain its dominance during the forecast period. This can be attributed to the presence of well-established healthcare systems, increase in the prevalence of diseases, such as cardiac and orthopedic disorders, higher adoption rate for technologically advanced devices, and shifting preference towards outpatient surgeries.

Moreover, the U.S. contributes the majority of revenue to the North American market, owing to the surging burden of diseases requiring interventional procedures, rising awareness regarding minimally invasive surgical procedures, and growing health consciousness among individuals.

The APAC market will register the fastest growth in the market, advancing with a CAGR of around 10% during the coming years. This is due to the rising cases of chronic diseases, growing elderly population, increasing awareness of consumers regarding medical device outsourcing, growing trend of medical tourism, and surge in healthcare expenditure. Furthermore, developing countries, such as China, India, and South Korea significantly contribute to the market.

Bourgeoning Interest in Aesthetics Will Boost Demand

One of the primary aspects boosting market growth is the rising beauty consciousness among teenagers and adults worldwide. The rise of multiculturalism in developed nations has modified some aesthetic conventions, resulting in the increasing demand for surgical and filler nose jobs for nasal augmentation. In addition, the public confession of such treatments and procedures by celebrities has a tremendous impact on beauty awareness. The popularity of surgical and non-invasive is rising dramatically. As the present notion of perfect appearance is becoming more popular, women seek cosmetic procedures to obtain perfection, which further boosts the market demand.

Top Manufacturers of Minimally Invasive Surgical Instruments Are:

• Applied Medical Resources Corporation
• B. Braun Melsungen AG
• CONMED Corporation
• HOYA Corporation
• Stryker Corporation
• Abbott Laboratories
• Johnson & Johnson Services Inc.
• Boston Scientific Corporation
• Medtronic plc

Minimally Invasive Surgical Instruments Market Size Breakdown by Segment

This report offers deep insights into the market, with size estimation for 2017 to 2030, the major drivers, restraints, trends and opportunities, and competitor analysis.

Based on Type

• Handheld Instruments
  • Cutter instruments
    • Trocars
    • Rasps
  • Visualizing scopes
  • Auxiliary instruments
    • Staplers
    • Closure devices
    • Cannulas
    • Clamps
  • Retractors
  • Dilators
  • Graspers
  • Sutures
• Guiding Devices
  • Guiding catheters
  • Guidewires
• Inflation Systems
  • Balloon dilators and inflators
  • Insufflators and insufflator needles
• Electrosurgical Instruments
  • Electrosurgical instruments and accessories
  • Electrosurgical generators
  • Electrocautery devices

Based on Application

• Laparoscopy
• Cardiovascular
• Cosmetic Surgery
• Orthopedic Surgery
• Obstetrics and Gynecology
• Ophthalmology
• Neurosurgery
• Urology

Based on End User

• Hospitals
• Ambulatory Surgical Centers (ASCs)
• Research Institutes

Geographical Analysis

• North America
  • U.S.
  • Canada
•  Europe
  • Germany
  • France
  • U.K
  • Italy
  • Spain
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa