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Minimally Invasive Surgery Market

Minimally Invasive Surgery Market

Rising Prevalence of Arthritis, Cancer & Cardiovascular Diseases Impels the Demand for Minimally Invasive Surgery during 2021-2031

Minimally Invasive Surgery Market
FACT5780MR
  • Sep-2021
  • List of Tables : 84
  • List of Figures : 112
  • 170 Pages
  • Healthcare

Market Snapshot

The minimally invasive surgery market revenue is expected to total US$ 6 Bn for 2021, according to Fact.MR. Overall, the market is expected to surpass US$ 10 Bn by 2031, growing at a CAGR of 5.2% from 2021-2031. Robotics surgery is growing at a fast pace owing to its high precision, and increasing adoption in hospitals.

Technological advancements in healthcare industry and upsurge in preference for hassle-free surgical procedures such as robotic surgery, laparoscopic surgery, and others are poised to fuel the sales of suppliers. Demand for bariatric minimally invasive surgery and cosmetic minimally invasive surgery is also seeing an incline.

Key Points Covered in Minimally Invasive Surgery Industry Survey

  • Market Estimates and Forecasts 2016-2031
  • Key drivers and restraints shaping market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Minimally Invasive Surgery and How to Navigate
  • Recommendation on Key Winning Strategies

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Sales Analysis of Minimally Invasive Surgery 2016-2020 Vs Outlook 2021-2031

According to Fact.MR- a market research & competitive intelligence provider- global sales of minimally invasive surgery equipment and services expanded at a CAGR of around 4%. Promptly rising geriatric population and the snowballing prevalence of chronic diseases is encouraging the demand for minimal invasive surgery worldwide.

During the COVID-19 pandemic, prospects heightened substantially, as studies documented that open surgery was associated with elevated risks of nosocomial COVID transmission. Furthermore, MIS procedures permitted patients to secure an early discharge, preventing too much exposure to the novel coronavirus during their hospital stay.

According to WHO (2019), approximately 235 million major surgical procedures are undertaken worldwide every year. In North America, minimally invasive surgical techniques are most preferred by surgeons as this procedure aims to minimize the damage to human tissues. Besides, the incorporation of robotic technology with MI surgeries has offered improved outcomes and allowed precise control of the process. Fact.MR expects the market to surge at 5.2% CAGR through 2031, based on aforementioned trends.

Which are the Driving Factors for Minimally Invasive Surgery?

Rising geriatric population across the globe coupled with the increasing prevalence of arthritis, cancer and cardiovascular diseases is impelling the demand for these surgeries as they are associated with fewer risks and minimal procedural trauma.

Latest technological advancements have incorporated robotic assisted minimally invasive surgery which allows precise control over the surgery. This has resulted in higher success rates by ensuring greater accuracy, repeatability, control and efficiency of these procedures which, in turn, is bolstering the market growth.

This surgery exhibits excellent medical traits such fewer cuts, smaller incisions, reduced pain, faster recovery periods and considerable cost savings smaller incisions, reducing post-operative pain and offer fast recovery, which steered surgeons in making it their primary choice in spite of open surgeries in their own clinics. Consequently, the expanding number of physician-owned ambulatory surgical centres (ASCs) is providing impetus to the market growth.

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How will Robotic Assisted Surgeries Spell Favorable Conditions for MIS?

Growing adoption of robotic-assisted surgeries and advancements in image guidance systems have shaped investments in the minimally invasive surgery market. This can be attributed to their low regulatory barriers, improvements in healthcare infrastructure, growing patient population, and rising healthcare expenditure.

As demand for automation across hospital workflows has surged, surgeons are adoption robotic assisted surgeries with a view to streamline operations and thus reduce burden on labor. Numerous healthcare companies have introduced advance robotic systems, such as Hansen Medical (Magellan Robotic System), Diligent Robotics (Moxi) and Medrobotics (Flex® Robotic System).

How are Technological Advancements in Medical Surgery Stimulating Demand?

Technologically advanced products, such as narrow-band imaging endoscopes, and HD cameras have been introduced by manufacturers which are creating a positive outlook for the industry worldwide.

Patients, surgeons, and hospitals have benefited from high-precision, minimally invasive robotic surgery (MIRS) and are increasingly adopting it, leading to a double-digit annual growth rate over the past five years.

Currently, robotic surgery has been approved by the FDA in the use of more than 50 procedures in the branches like weight loss surgery, cardiothoracic surgery, gynaecology which is poised to stimulate the demand for robot assisted MIS over the years.

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Country-wise insights

How is the U.S Fuelling Demand for Minimally Invasive Surgery?

The United States is a pioneer in North America’s market for minimally invasive surgeries, and is set to maintain its lead throughout the forecast period. The large share of the U.S. market can be attributed to the availability of funding for R&D in surgical robots and the swelling adoption of surgical robots for paediatric surgeries combined with mounting prevalence of chronic disorders in the country.

According to a report titled “Industries at a Glance” by Bureau of Labor Statistics, the medical and hospitals industry is the one of the best prospect industries, while its medical technologies sector is the largest in the world. As stated in the report, employment in this sector in thousands grew to 5,174.8 in December 2020, and is subject to grow further. Fact.MR expects the U.S market to surge at over 4% CAGR through 2031.

Why is Minimally Invasive Surgery Flourishing in China? 

Driven by the advanced medical and hospitals industry and growing manufacturing sector, China is the hotspot for players to minimally invasive surgery robotic companies. According to Fact.MR, China is expected to remain at the forefront in the Asian market through 2031, clocking a CAGR of 5% through 2031.

The International Trade Administration estimated that in 2019, China had 34,354 hospitals, which offered over 6.8 million beds and received 3.84 billion patient visits. As per the report, in 2018, China medical devices sector accounted for 5.7% of China’s Gross Domestic Product (GDP), which grew to around 7% in 2020.

Minimally invasive surgery market forecast analysis  by Fact.MR

Category-wise insights

How are Hospitals & Clinics Spearheading Market Growth of Minimally Invasive Surgeries?

Minimally invasive surgery equipment are highly sought-after in clinics and hospitals, owing to gush in the adoption of advanced surgical procedures. Besides, incorporation of cutting-edge technologies such as Artificial Intelligence (AI), and presence of highly skilled healthcare professionals is driving growth. Collectively, both segments will account for 50% of market demand.

Will Orthopedic Surgeries be the Primary Application Area for MIS?

Presently, orthopaedic is the leading segment in terms of disorder, and set to maintain its lead throughout the forecast period. With mounting prevalence of various orthopaedic diseases such as osteoarthritis, carpal tunnel syndrome, and others, this segment is significantly catering to industry growth.

Minimally invasive surgeries in orthopaedics have undergone significant advancements and are now fitting the desired model in the market. Attributed to increased healthcare expenditure, orthopaedics segment is gaining huge traction and exhibits huge growth potential in upcoming future, clocking a CAGR of 4% until 2031.

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Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.

  • In March 2017, University of Pittsburgh Medical Centre firstly adopted RAMIE (Robot Assisted Minimally Invasive Esophagectomy) Program and yielded excellent outcomes with increasing proficiency over the course of learning curve.
  • In Feb 2019, Huntington Hospital completed the acquisition of two da Vinci Xi Surgical Systems, the next generation in robotic surgical equipment. The da Vinci Xi System was designed with the goal of further advancing the technology used in minimally invasive surgery, used across a spectrum of minimally invasive surgical procedures in gynaecology, urology, thoracic, colorectal and general surgery.

Report Scope

Attribute

Details

Market size value in 2020

US$ 6 Bn

Market forecast value in 2031

US$ 10 Bn

Growth Rate

CAGR of 5.2% from 2021 to 2031

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • BENELUX
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Australia
  • New Zealand
  • Brazil
  • Mexico
  • GCC
  • South Africa
  • Israel

Key Market Segments Covered

  • Product
  • Brewer
  • Sales Channel
  • Region

Key Companies Profiled

  • University of Pittsburgh Medical Center
  • Rutland Medical Center
  • Huntington Hospital
  • Washington Hospital Healthcare System
  • The Ottawa Hospital
  • Michael’s Hospital
  • Ipswich Hospital
  • Apollo Hospitals Enterprise Limited
  • Healthcare Global Enterprises Ltd.

Pricing

Available upon Request

Key Segments Covered

  • Procedure

    • Minimally Invasive Laparoscopic Surgery
    • Minimally Invasive Robotic Surgery
    • Minimally Invasive Endoscopic Mucosal Resection
    • Minimally Invasive Endoscopic Sub-Mucosal Dissection
  • End User

    • Minimally Invasive Surgery at Hospitals
    • Minimally Invasive Surgery at Clinics
    • Minimally Invasive Surgery at Ambulatory Surgical Centres
    • Minimally Invasive Surgery by Other End Users
  • Disorder Type

    • Orthopedic Minimally Invasive Surgery
    • Cosmetic & Bariatric Minimally Invasive Surgery
    • Gynaecological Minimally Invasive Surgery
    • Cardiothoracic Minimally Invasive Surgery
    • Gastrointestinal Minimally Invasive Surgery
    • Urological Minimally Invasive Surgery
    • Minimally Invasive Surgery for Other Disorders

Minimally Invasive Surgery Market- Scope of Report

A recent study by Fact.MR on the minimally invasive surgery market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging associated with the manufacturing of the minimally invasive surgery market.

The study also provides the dynamics responsible for influencing the future status of the minimally invasive surgery market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the minimally invasive surgery market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers a comprehensive analysis of diverse features, including production capacities, demand, product developments, revenue generation, and sales of the Minimally Invasive Surgery Market across the globe.

A comprehensive estimate of the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of minimally invasive surgery equipment during the forecast period. Price point comparison by region with the global average price is also considered in the study.

Key Questions Answered in Report

  • Which are the most lucrative minimally invasive surgery markets?
  • Which factors will impact the growth of minimally invasive surgery?
  • How will changing trends impact the strategies of market players?
  • How can market players capture the low-hanging opportunities across regions?
  • Which companies are leading the minimally invasive surgery industry?
  • What are the winning strategies of stakeholders in the market?

Analysis on Market Size Evaluation

The market has been analyzed for each segment in terms of volume (000 Units) and value (US$ Mn).

Estimates at global and regional levels for the Minimally Invasive Surgery Market are available in terms of “US$ Mn” for value and 000 Units volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report.

Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global minimally invasive surgery market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which has helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the minimally invasive surgery market during the forecast period.

Country-specific valuation on demand for minimally invasive surgery has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

In-depth Analysis on Competition Analysis

The report sheds light on leading manufacturers of minimally invasive surgery equipment, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in producing minimally invasive surgery equipment have been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permit report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which includes essentials such as product portfolios and key strategies, along with an all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the minimally invasive surgery domain.

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the minimally invasive surgery industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the draw conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.

- FAQs -

As of 2020, sales of Minimally Invasive Surgery Market estimated to reach nearly US$ 6 Bn

From 2016 to 2020, sales of the Minimally Invasive Surgery Market expanded at approximately ~5% CAGR

The future growth projections for Minimally Invasive Surgery Market will follow a 5.5% CAGR during the forecast period.

Growing adoption of robotic-assisted surgeries and advancements in image guidance systems have shaped investments in the minimally invasive surgery market.

Rising geriatric population across the globe coupled with the increasing prevalence of arthritis, cancer and cardiovascular diseases is impelling the demand for these surgeries as they are associated with fewer risks and minimal procedural trauma.

The Asia-Pacific Minimally Invasive Surgery Market is projected to register a CAGR of the app. 6-8% during the forecast period.

University of Pittsburgh Medical Center, Rutland Medical Center, Huntington Hospital, Washington Hospital Healthcare System, The Ottawa Hospital, Michael’s Hospital, Ipswich Hospital, Apollo Hospitals Enterprise Limited, Healthcare Global Enterpr

The Robotic surgery segment of the Minimally Invasive Surgery Market based on procedure is the fastest-growing segment in the market.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.