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Minimally Invasive Surgical Instruments Market

Minimally Invasive Surgical Instruments Market by Product (Handheld Instruments (Stents, Forceps and Spatulas, Retractors, Dilators, Graspers, Sutures, Visualizing Scopes) , Guiding Devices (Guiding Catheters, Guidewires), Inflation Systems (Balloons, Balloon Inflation Devices), Cutter Instruments (Trocars, Rasps), Electrosurgical Instruments (Generators, Instruments, Devices), Auxiliary Instruments (Clamps, Staplers, Cannulas, Closure Devices), by Application (Gastrointestinal, Cardiothoracic, Vascular, Orthopedic, Gynecological, Cosmetic, Bariatric, Urological), by End User (Hospitals, Ambulatory Surgical Clinics), by Geography (U.S., Canada, Germany, France, U.K., Italy, Spain, China, Japan, India, Brazil, Mexico) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023

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Minimally Invasive Surgical Instruments Market Overview

The global minimally invasive surgical instruments market is witnessing significant growth due to the increasing adoption of minimally invasive surgical techniques over traditional surgeries for the treatment of various diseases. Handheld instruments, guiding devices, inflation devices, cutter instruments, electrosurgical devices, and auxiliary instruments are used for performing minimally invasive surgeries (MISs). Handheld devices, such as sutures, forceps, retractors, and dilators, are convenient to use and are commonly used in almost all types of MISs. This has led to their largest share in the minimally invasive surgical instruments market in 2016.

Minimally invasive surgical devices find their application in gastrointestinal, cardiothoracic, vascular, orthopedic, gynecological, cosmetic, bariatric, urological, and other surgeries. Rising incidence of arthritis, osteoporosis, and spine injuries, and growing aging population have spurred the demand of minimally invasive surgical instruments for orthopedic surgeries, thereby increasing the market share of minimally invasive surgical instruments for orthopedic surgery in the global market.

Minimally Invasive Surgical Instruments Market Dynamics

Growth Drivers and Restraints

The key factors driving the growth of the minimally invasive surgical instruments market are surge in the adoption of minimally invasive surgical techniques, rise in the prevalence of chronic and lifestyle-associated diseases, and advancements in the technology of instruments used in performing MISs.

Since minimally invasive procedures result in less scarring and less pain, doctors and patients are opting for such procedures. The advantages of MISs over open surgeries are less trauma, less hospitalization expenditure due to shorter hospital stay, and quick post-operative recovery. According to the American Society of Plastic Surgeons (ASPS), around 14.2 million minimally invasive cosmetic procedures were done in the U.S. in 2015. These included botulinum toxin type A, soft tissue fillers, chemical peel, and microdermabrasion procedures.

Since minimally invasive procedures have a lot of benefits, they are rapidly replacing traditional surgery methods and becoming the preferred choice for patients, thereby fueling the growth of the minimally invasive surgical instruments market.

However, unfavorable reimbursement policies in developing countries and healthcare reforms in the U.S., and lack of skilled professionals globally are some of the factors hindering the growth of the minimally invasive surgical instruments industry.

Opportunities

Emerging economies are providing ample growth opportunities to the players in the minimally invasive surgical instruments market, mainly because of growing medical tourism, increasing awareness about technologically advanced minimally invasive surgical instruments and procedures, and rising number of surgeries in these economies.

Minimally Invasive Surgical Instruments Market Insights by Geography

North America holds the largest share of the minimally invasive surgical instruments market globally because of increasing prevalence of chronic and lifestyle-associated diseases, developed healthcare infrastructure, growing number of surgical procedures, and rising geriatric population. During the forecast period, the market is expected to witness the fastest growth in Asia-Pacific, led by the high growth of minimally invasive surgical devices market in Japan, China, and India. Increasing healthcare expenditure, developing healthcare infrastructure, growing medical tourism, and rising aging population are the factors expected to support the growth of Asia-Pacific’s minimally invasive surgical instruments industry.

Minimally Invasive Surgical Instruments Market Competitive Landscape

The key players in the minimally invasive surgical instruments industry, through different strategies, are introducing advanced minimally invasive surgical products and expanding their business through acquisitions, collaborations, and partnerships.

In March 2017, Medtronic PLC partnered with Atlas General Hospital to bring advanced surgical technologies and treatment options to Serbia. Both the companies expect to contribute significantly to the improvement of the treatment experience of thousands of spine patients at Atlas General Hospital. Medtronic PLC also agreed to bring innovative spine surgery and minimally invasive technologies and identify ways to reduce treatment cost and manage operating rooms.

Some of the key players in the minimally invasive surgical instruments market include Stryker Corporation, Medtronic PLC, Smith & Nephew PLC, Ethicon Inc., CONMED Corporation, Abbott Laboratories, Microline Surgical Inc., Zimmer Biomet Holdings Inc., Aesculap Inc., and Applied Medical Resources Corporation.

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