The minimally invasive surgical instruments market is projected to grow at a CAGR of 7.87% from a market size of US$17.386 billion in 2017 during the forecast period and reach a market size of US$27.393 billion in 2023. Minimally invasive surgery (MIS) involves the use of small incisions to gain access to a cavity for better visualization and manipulation of tissues of interest. There has been an increasing trend in application of these surgeries owing to the advantages offered by minimally invasive surgery over the traditional surgeries such as incidence of lesser pain, less damage to the tissues and early recovery from the surgery among others. Growing technological advancements in this field, improved patient quality of life, reduction in healthcare costs and time, and increase in the aging population around the globe are the major factors expected to drive the growth of minimally invasive surgical instruments market. Geographically, North America holds a significant share of the market on account of presence of major market players in this region and the increasing aging population. However, the lack of properly skilled labour and stringent regulatory framework are some of the major challenges faced by the minimally invasive devices market.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Minimally Invasive Surgical Instruments value chain. Last step involves complete market engineering which includes analysing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are Aesculap, Inc., Medtronic, Smith and Nephew and Zimmer Biomet among others.
The Minimally Invasive Surgical Instruments market has been analysed through following segments:
Monitoring & Visualization Equipment
Middle East and Africa