Mis Instruments Market Size, Global Trends, Business Profiles And Forecast- Exclusive Report By Marketsandmarkets™

By Author: Healthcare News
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Growth in the MIS Instruments market is mainly driven by factors such as the increasing number of surgical procedures worldwide, the advantages of MIS over open surgical techniques, and the increasing adoption of advanced robotics in ASCs. However, the high degree of market consolidation among market players and the requirement of high capital investments are the major factors hampering the growth of this market.
According toresearch report by markets and markets the global MIS instruments market size is projected to reach $28.9 billion by 2026 from $20.2 billion in 2021, at a CAGR of 7.4% during the forecast period.
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... The market is segmented by Product (Handheld Instruments, Inflation Devices, Surgical Scopes), Type of Surgery (Cardiothoracic, Gastrointestinal, Orthopedic, Urological), End User (Hospitals, ASCs), Region.

Based on product, the MIS instruments market is segmented into handheld instruments, cutting instruments, inflation devices, surgical scopes, guiding devices, electrosurgical electrocautery instruments, and other instruments. The handheld instruments accounted for the largest share of the minimally invasive surgical instruments market in 2020. Factors such as the the increasing number of surgical procedures, rising technological innovations in handheld instruments and the low cost of articulating laparoscopic handheld surgical instruments are boosting the market growth of this segment.

In 2020, the orthopedic surgery segment accounted for the highest growth rate. Factors such as the rising growth in the geriatric population and the rising incidence of bone ailments (such as osteoporosis, arthritis, and spine injuries) are expected to drive the growth of the orthopedic surgery segment. The minimally invasive surgical instruments market has been segmented into cardiothoracic surgery, orthopedic surgery, gynecological surgery, gastrointestinal surgery, cosmetic bariatric surgery, urological surgery, and other surgeries.

In 2020, the hospitals and specialty clinics segment accounted for the largest share of the MIS instruments market. Based on end users, the minimally invasive surgical instruments market is segmented into hospitals and specialty clinics and ambulatory surgery centers. The large number of minimally invasive surgical procedures performed in hospitals due to the presence of highly skilled healthcare professionals is driving this segments growth.

The global minimally invasive surgical instruments market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East Africa. In 2020, North America accounted for the largest share of the MIS instruments market. The large share of this region can be attributed to the increasing healthcare spending, the highly developed healthcare system in the US and Canada, and increasing prevalence of chronic disorders.

The key players in this market are Medtronic plc (Ireland), Johnson Johnson (US), Stryker Corporation (US), Abbott Laboratories, Inc. (US), Boston Scientific Corporation (US), B. Braun Melsungen AG (Germany), CONMED Corporation (US), Smith Nephew plc (UK), Zimmer Biomet Holdings, Inc. (US), Koninklijke Philips N.V. (Netherlands), FUJIFILM Holdings Corporation (Japan), KARL STORZ SE Co. KG (Germany), Becton, Dickinson and Company (US), The Cooper Companies Inc. (US), HOYA Corporation (Japan), Surgical Innovations Group plc (UK), Applied Medical Resources Corporation (US), KLS Martin Group (Germany), Scanlan International, Inc. (US), Wexler Surgical (US), STRAUSS SURGICAL (US), AMNOTEC International Medical GmbH (Germany), EndoMed Systems GmbH (Germany), TROKAMED GmbH (Germany), and Surgical Holdings (UK).
In 2020, Medtronic plc held the leading position in the MIS instruments market. The company has maintained a leading position in the market through its strong distribution networks across North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The company adopts inorganic growth strategies to increase its dominance in this market. For instance, in June 2019, the company acquired Titan Spine (Germany). This acquisition strengthened Medtronic’s position as a leading innovator in procedural solutions for spine surgery. Such developments will enable Medtronic to add innovative technologies and products to its portfolio, which, in turn, will strengthen its presence in the minimally invasive surgical instruments market.
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