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Minimally Invasive Surgical Instruments Market is segmented by Application - Cardiothoracic Surgery, Gastrointestinal Surgery, Orthopedic Surgery, Gynecological/Urological Surgery, Cosmetic/Bariatric Surgery
Global minimally invasive surgical instruments market is growing at a robust pace throughout the world. The factors contributing to the growth of this market are an increase in the geriatric population and consequently there is an increase in the number of surgeries performed on such section of the population.
The type of surgeries performed include orthopedic surgeries, cardiac surgeries, etc. Moreover, the minimally invasive surgeries have inherent advantages over traditional type of surgeries such as occurrence of lesser pain, shorter stay at the hospital, less amount of scaring and low damage to the tissue, which are increasing the popularity of minimally invasive surgeries across the globe. Moreover, minimally invasive surgeries tend to be more cost effective than traditional surgeries and this is also boosting its market growth.
In addition, technological innovations in the field of minimally invasive surgery and increase in the occurrence of medical tourism in the developing countries serve as bright opportunities in the minimally invasive surgical instruments market. However, there are questions being raised about the quality of the surgeries being performed through this method and sterilization procedures that are improper are the factors that are hampering the growth of minimally invasive surgical instruments market.
According to the assessment of Persistence Market Research, the global minimally invasive surgical instruments market is forecasted to reach a figure of about US$ 18,900 Mn in 2022 and is poised to exhibit a robust CAGR in the period of assessment.
The market in North America is set to dominate the global minimally invasive surgical instruments market in terms of value and this trend is projected to sustain itself throughout the assessment period. North America minimally invasive surgical instruments market is the most attractive market, growing at a robust CAGR over the forecast period.
According to the projections of Persistence Market Research, the handheld instruments segment is expected to reach a value of about US$ 5,200 Mn in the year 2022. This signifies a robust CAGR during the forecast period of 2017-2022.
The handheld instruments segment is estimated to account for more than one-fourth of the revenue share of the product type segment by the end of the year 2017 and is expected to gain in market share by 2022 over 2017.
According to the assessment of Persistence Market Research, the hospitals end user segment is poised to touch a figure of about US$ 13,700 Mn in the year 2022. This signifies a CAGR of more than 7% during the assessment period from 2017 till the year 2022.
The hospitals end user segment is estimated to account for nearly three-fourths of the revenue share of the end user segment by the end of the year 2017 and is projected to gain market share by 2022 over 2017.
The report also profiles companies that are expected to remain active in the expansion of global minimally invasive surgical instruments market through 2022, which include Medtronic Plc., Aesculap, Inc., B. Braun Melsungen AG, Stryker Corporation, Smith & Nephew Plc., Abbott Laboratories Inc., Boston Scientific Corporation, CONMED Corporation, Microline Surgical, Inc. and Zimmer Biomet Holdings, Inc.