The global minimally invasive surgical instruments market size is expected to reach USD 42.2 billion by 2026 progressing at a CAGR of 9.85% over the forecast period according to a new report by Grand View Research, Inc. The preference for minimally invasive surgical (MIS) procedures is rising as they are less traumatic than traditional open surgeries and they facilitate faster recover process. Patients can resume their daily activities in shorter time after minimally invasive procedures.
According to a research article published in the medical journal, JAMA Surgery, in March 2015, the use of minimally invasive surgeries for routine operations of colon, lungs, and appendix can result in reduction of postoperative complications, thereby saving nearly USD 280 million to USD 340 million per year. Investments in minimally invasive surgical instruments are gradually rising in hospitals, thereby driving the market.
In addition, the costs involved in MIS procedures are significantly less than in-patient and conventional open surgeries. Therefore, MIS procedures prove to be beneficial for patients as well as payers. The benefits of minimally invasive surgical instruments in various areas of orthopedics have contributed to the growing demand for less traumatic alternatives with minimum tissue disruption of bones.
Further Key Findings from the Report Suggest:
- Minimal invasive technologies are designed to cause less trauma than traditional open surgeries, reduced blood loss, minimal scarring, and low chances of infection
- Handheld instruments dominated the device segment in terms of revenue share in 2018. On the other hand, electrosurgical devices are expected to witness the fastest growth rate during the forecast period.
- Orthopedic segment dominated the application segment in terms of revenue share in 2018. Minimally invasive surgical procedures in various areas of orthopedics offer alternatives with minimum tissue disruption.
- Continuous adoption of minimally invasive surgical techniques for spine related procedures has led to the expansion of procedural volumes for orthopedic MIS
- Hospital segment held a majority of the end use segment share in 2018. On the other hand, ambulatory surgically centers are likely to experience fastest growth in the coming years.
- Ambulatory surgical centers offer same day surgery and discharge at lower costs. At present, over 5,500 Medicare certified ambulatory care centers are present in the U.S.
- North America held majority of the MIS instruments market share in 2018 due to the presence of supportive reimbursement framework for innovative MIS devices and procedures
- Medtronic, Abbott, NuVasive, Inc., CONMED, Stryker, Smith & Nephew, Zimmer Biomet, and Intuitive Surgical, Inc. are some of the key players operating in this market
Grand View Research has segmented the MIS instruments market based on device, application, end use, and region:
MIS Instruments Device Outlook (Revenue, USD Million, 2015 - 2026)
- Handheld Instruments
- Inflation Devices
- Cutter Instruments
- Guiding Devices
- Electrosurgical Devices
- Auxiliary Devices
- Monitoring & Visualization Devices
MIS Instruments Application Outlook (Revenue, USD Million, 2015 - 2026)
- Cardiac
- Gastrointestinal
- Orthopedic
- Vascular
- Gynecological
- Urological
- Thoracic
- Cosmetic
- Dental
- Others
MIS Instruments End Use Outlook (Revenue, USD Million, 2015 - 2026)
- Hospitals
- Ambulatory Surgical Centers
MIS Instruments Regional Outlook (Revenue, USD Million, 2015 - 2026)
- North America
- US.
- Canada
- Europe
- Germany
- UK.
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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