Minimally Invasive Surgical Instruments Market Expected to Show a Significant Growth During the Forecast Period 2022 – 2030

Posted on 2022-05-24 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, May 24, 2022 — /EPR Network/ —

Minimally Invasive Surgical Instruments Industry Overview

The global minimally invasive surgical instruments market size was valued at USD 19.96 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 9.8% from 2022 to 2030.

Surgical robots have revolutionized the field of minimally invasive surgeries and their acceptance by the surgeons is rising globally. The cost of minimally invasive surgical (MIS) procedures is significantly less than in-patient and conventional open surgeries with equal outcomes resulting in a significant increase in value for the patient as well as insurance providers. This trend is likely to continue in the coming years. Increasing launch of new products and a growing number of product approvals by several market players for gaining a larger market share are anticipated to create robust growth opportunities during the forecast period. For instance, in December 2020, Abbott launched a minimally invasive heart valve repair device to treat mitral regurgitation in India.

Gather more insights about the market drivers, restrains and growth of the Global Minimally Invasive Surgical Instruments Market

Minimally invasive surgeries are much less traumatic than conventional open surgeries. Traditional surgeries performed with conventional laparoscopic instruments can be traumatic and complex. Minimally invasive laparoscopic cameras are inserted through smaller incisions and specialized smaller instruments are used to perform the operation. The healing process is less painful and patients can recover fastest after minimally invasive surgeries.

Minimally invasive procedures are gaining surgical demand due to quicker recovery, smaller incisions, reduced scarring & pain, increased accuracy, and shorter hospital stays. Medical displays ensure superior visibility of diagnostic images, displaying even the slightest difference in tissues and cells, ensuring precise and quicker surgeries. The consistent technological advancements in this field provide higher-quality instruments that allow the surgeons to perform the surgical interventions efficiently without sacrificing patient safety. The improved product designs provide a level of control and accuracy in the operating room. It is highly beneficial for the treatment of breast cancer, abdominal surgeries, cardiac, orthopedic, ophthalmic, neurological, and oral surgical procedures. It is said to be the best choice over open surgeries, especially in geriatric patients as the healing time is drastically reduced.

Additionally, studies suggest that Virtual reality when combined with display devices in the operating rooms, improves the visualization of tissues and their handling at inaccessible internal spots, ultimately improving accuracy during minimally invasive surgery. VR helps to evaluate various conditions and treatment alternatives on virtual patients before the actual treatment technique is performed in a care setting. Advancements in instrumentation and video imaging are likely to renovate several procedures in various surgical specialties from open to endoscopic surgeries. MIS techniques have been used to reduce the complications related to open exposures such as infection and wound post lumbar spine fusion surgery.

Further, market leaders like Medtronic, Abbott, Zimmer, and Biomet have launched newer products robotic-assisted technology. For instance, in 2020, Medtronic entered into a definitive agreement with Titan Medical to develop robot-assisted surgical technologies. Also, In 2020, Abbott launched a minimally invasive heart valve repair device to treat mitral regurgitation in India. The company’s product, IonicRF Generator, is responsible for delivering minimally invasive, nonsurgical treatment for pain management in the nervous system.

Despite, huge investment in R&D and product launches with advanced features, the minimally invasive surgical instruments market witnessed a dip in 2020 due to the outbreak of COVID-19. National lockdowns, stop on logistics movements, lack of resource availability, and most importantly, the economic instability of hospitals and end use settings, led to the fall of the market. A dramatic decline in elective surgeries by nearly 50% across the globe, cancellation of planned laparoscopic surgeries for the year 2020 and early 2021, reduced medical staff, increased workload on surgeons, and risk associated with viral spread, also fueled the market drop. However, it is said to rise sharply by early 2022.

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 minimally invasive surgical instruments market based on device, end use, application and region:

Device Outlook (Revenue, USD Million, 2018 – 2030)
- Injector Handheld Instruments
- Inflation Devices
- Cutter Instruments
- Guiding Devices
- Electrosurgical Devices
- Auxiliary Devices
- Monitoring & Visualization Devices
Application Outlook (Revenue, USD Million, 2018 – 2030)
- Cardiac
- Gastrointestinal
- Orthopedic
- Vascular
- Gynecological
- Urological
- Thoracic
- Cosmetic
- Dental
- Others
End Use Outlook (Revenue USD Million; 2018 – 2030)
- Hospitals
- Ambulatory Surgery Centers
Regional Outlook (Revenue, USD Million, 2018 – 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa

Market Share Insights

In 2020: Medtronic entered into a definitive agreement with Titan Medical to develop robot-assisted surgical technologies. Also, Abbott launched a minimally invasive heart valve repair device to treat mitral regurgitation in India.

Key Companies profiled:

Some prominent players in the Minimally Invasive Surgical Instruments market include

Medtronic
Siemens
Healthineer AG
Ethicon, Inc. (Johnson & Johnson)
Depuy Synthes
GE Healthcare
Abbott Laboratories
Intutive Surgical, Inc.
Nuvasive, Inc.
Zimmer Biomet

Order a free sample PDF of the Minimally Invasive Surgical Instruments Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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