Rise in global geriatric population and growing prevalence of chronic and acute diseases are some key factors contributing to the global Minimally Invasive Surgical Systems market revenue growth.
Rise in global geriatric population and growing prevalence of chronic and acute diseases are some key factors contributing to the global Minimally Invasive Surgical Systems market revenue growth.
According to Emergen Research, the global minimally invasive surgical systems market size was USD 21.98 billion in 2020 and is expected to reach USD 41.16 billion in 2028 and register a revenue CAGR of 8.1% during the forecast period, 2021-2028.
Market Dynamics:
Steady revenue growth of the global minimally invasive surgical systems market is primarily attributed to factors such as rising prevalence of chronic and acute diseases across the globe, increasing volumes of surgeries, technological advancements in surgical equipment, and growing preference for minimally invasive surgical procedures, owing to advantages such as less scarring and pain, minimal blood loss, lower risks of infection or complications, and reduced hospital stay. Minimally invasive surgeries are surgical operations performed with small incisions and fewer stitches compared to highly invasive surgeries. Key advantages of minimally invasive surgical procedures are minimal blood loss, lower risks of complications or infections, lesser post-operative pain, enhanced clinical outcomes, reduced operating time, and shorter hospital stays.
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Minimally invasive surgical systems are widely used in general, gynecological, urogynecological, colorectal, cardiovascular, neurological, and bariatric surgeries. Some of the other major factors contributing to the global market revenue growth over the forecast period are technological advances in medical equipment & systems, growing need for higher precision, enhanced vision, and greater control during surgical procedures, and increasing government and private investments in healthcare infrastructure development. Revenue growth of the global minimally invasive surgical systems market, however, is restrained by factors such as lack of specialized training of surgeons, unavailability of advanced medical equipment, especially in low-income countries, and high costs of surgical equipment.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Handheld Devices Segment Accounted for Largest Revenue Share in 2020:
The handheld devices segment dominated other segments in terms of revenue share in the global market in 2020. Revenue growth of this segment is mainly attributed to factors such as growing demand for handled minimally invasive surgical devices, owing to their advantages such as easier access and portability, lower risks of complications or infections, and higher speed and efficiency, and technological advances in handheld equipment.
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Cardiovascular Surgery Segment to Account for Fastest Revenue CAGR:
The cardiovascular surgery segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Rising incidences of cardiovascular disorders across the globe, such as heart attack, stroke, arrhythmia, and heart valve complications, increasing volumes of cardiovascular surgeries, and growing use of minimally invasive surgical techniques and equipment are among the major factors driving revenue growth of this segment.
North America Market Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America minimally invasive surgical systems market accounted for the largest revenue share in the global market in 2020. Rising prevalence of chronic and acute diseases, increasing awareness of the advantages of minimally invasive surgical procedures, technological advancements in minimally invasive surgical equipment, rapid adoption of robotic surgical systems, mainly in state-of-the-art healthcare facilities, and presence of leading market players in the region, including Stryker Corporation, Johnson & Johnson, and Becton, Dickinson and Company, are key factors contributing to the North America market revenue growth.
Major Companies in the Global Minimally Invasive Surgical Systems Market Include:
- Stryker Corporation
- Abbott Laboratories
- Medtronic PLC
- Boston Scientific Corporation
- Johnson & Johnson
- OmniGuide Holdings Inc.
- B. Braun Melsungen AG
- Becton, Dickinson and Company
- CONMED Corporation
- Hoya Corporation
- Smith & Nephew plc
- Zimmer Biomet Holdings, Inc.
- The Cooper Companies Inc.
- Surgical Innovations Group plc
- Koninklijke Philips N.V.
- FUJIFILM Holdings Corporation
- KARL STORZ SE & Co. KG
- Applied Medical Resources Corporation
- KLS Martin Group
- Scanlan International, Inc.
- Wexler Surgical
- EndoMed Systems GmbH
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For the purpose of this report, Emergen Research has segmented the global minimally invasive surgical systems market based on device type, surgery type, end-use, and region:
Device Type Outlook (Revenue, USD Billion; 2018–2028)
- Handheld Devices
- Cutter Devices
- Inflation Devices
- Electrosurgical Devices
- Monitoring and Visual Devices
- Guiding Devices
- Auxiliary Devices
Surgery Type Outlook (Revenue, USD Billion; 2018–2028)
- Gastrointestinal Surgery
- Cardiovascular Surgery
- Orthopedic Surgery
- Urological Surgery
- Cosmetic Surgery
- Neurological Surgery
- Others
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
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Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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