Minimally Invasive Surgical Instruments Market: Global Trends And Forecasts

By Author: Healthcare News
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The global minimally invasive surgical instruments market is projected to reach USD 28.9 billion by 2026 from USD 20.2 billion in 2021, at a CAGR of 7.4% during the forecast period. Growth in this 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.
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The handheld instruments segment accounted for the largest share of the minimally invasive surgical instruments market, by product segment, in 2020

The minimally invasive surgical instruments market is segmented ...
... into handheld instruments, inflation devices, surgical scopes, cutting instruments, guiding devices, electrosurgical & electrocautery instruments, and other instruments. The growth of the handheld instruments segment can be attributed to the low cost of articulating laparoscopic handheld surgical instruments. These instruments are commonly used in applications such as cardiothoracic, arthroscopy, urology, cardiovascular, and neurological surgeries.

The hospitals and specialty clinics segment accounted for the largest share of the minimally invasive surgical instruments, by end user segment, in 2020

The minimally invasive surgical instruments market is segmented into hospitals and specialty clinics and ambulatory surgery centers. In 2020, the hospitals and specialty clinics segment accounted for the largest share of the minimally invasive surgical instruments market. Hospitals and specialty clinics have larger investments in lab automation and information management as compared to other end users. They are well-equipped to carry out multiple tests. Owing to such advantages, economies like India and China are focusing on increasing the number of hospitals in their respective healthcare systems. Therefore, the adoption of minimally invasive surgical instruments is higher in hospitals and specialty clinics.

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), Becton, Dickinson and Company (US), The Cooper Companies Inc. (US), HOYA Corporation (Japan), Surgical Innovations Group plc (UK), Koninklijke Philips N.V. (Netherlands), FUJIFILM Holdings Corporation (Japan), KARL STORZ SE & Co. KG (Germany), 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 minimally invasive surgical 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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Asia Pacific is expected to be the fastest growing region during the forecast period.

The rising incidence of chronic diseases, the continuous increase in the number of hospitals and doctors and the increase in affordability, presence of a large patient pool undergoing surgical treatments, increasing medical tourism, and the favorable government policies are some of the major factors which are expected to fuel the growth of the regional market during the forecast period. In addition, the regulatory policies in the Asia Pacific region are more adaptive and business-friendly than those in developed countries. This has drawn key players in the minimally invasive surgical instruments market to focus on APAC countries.
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