Global minimally invasive surgery market is estimated to be valued at US$ 72,554.0 million in 2023, exhibiting a CAGR of 11.0% during the forecast period (2023-2030).
Analysts’ Views on Global Minimally Invasive Surgery Market:
Usage of minimally invasive surgery for the treatment of major chronic diseases is expected to drive the global minimally invasive surgery market growth over the forecast period. For instance, in October 2021, according to data published by Mayo Foundation for Medical Education and Research, a nonprofit academic medical center that focuses on integrated health care, education, and research, stated that minimally invasive heart surgery can reduce aortic stenosis symptoms and improve quality of life of cardiac patients.
Figure 1. Global Minimally Invasive Surgery Market Share (%), By Device Type, 2023
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Global Minimally Invasive Surgery Market – Drivers
Increasing Prevalence of Orthopedic Diseases
Increasing prevalence of orthopedic diseases is expected to drive the global minimally invasive surgery market growth over the forecast period. For instance, in July 2022, according to World Health Organization (WHO), approximately 1.71 billion people have musculoskeletal conditions worldwide.
Figure 2. Global Minimally Invasive Surgery Market Value (US$ Million), By Region, 2023
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Global Minimally Invasive Surgery Market- Regional Analysis
Among region, North America is estimated to hold a dominant position in the global minimally invasive surgery market over the forecast period. North America holds 43.2% market share, owing to increasing prevalence of cardiac diseases in this region. For instance, in August 2022, according to an article published by New York State Department of Health, about 697,000 people dies due to cardiac disease in the U.S. every year.
Global Minimally Invasive Surgery Market– Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.
COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others faced problems regarding transportation of drugs from one place to another.
However, the COVID-19 pandemic had a negative impact on the global minimally invasive surgery market growth as the hospitals needed to sort the urgency of their daily surgical procedures. For instance, according to an article published by PubMed Central, in July 2020, a survey was conducted and it was found that the all hospitals had to think about non-surgical options whenever they could due to the urgency of their daily surgical treatments.
Global Minimally Invasive Surgery Market- Segmentation
Global minimally invasive surgery market report is segmented into device type, surgery, and region
Based on Device Type, the market is segmented into surgical devices (ablation devices, electrosurgical devices, and medical robotic systems), monitoring & visualization devices, and endoscopy devices). Out of which, the surgical devices segment is expected to hold a dominant position in the global minimally invasive surgery market during the forecast period, owing to increasing usage of endoscopy devices in minimally invasive surgery procedures.
Based on Surgery, the market is segmented into orthopedic surgery, cosmetic surgery, breast surgery, vascular surgery, thoracic surgery, gynecological surgery, bariatric surgery, cardiac surgery, gastrointestinal surgery, and urological surgery. Out of which, the cardiac surgery segment is expected to hold a dominant position in the global minimally invasive surgery market during the forecast period , owing to increasing prevalence of cardiac disorders.
Among all segmentation, the surgery segment has the highest potential to drive the market growth due to increasing prevalence of orthopedic surgery over the forecast period. For instance, in December 2021, according to the World Health Organization, about 28.2% of the global population of age 60 years and older sufferes from osteoarthritis.
Minimally Invasive Surgery Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 72,554.0 Mn |
Historical Data for: | 2017 to 2021 | Forecast Period: | 2023 to 2030 |
Forecast Period 2023 to 2030 CAGR: | 11.0% | 2030 Value Projection: | US$ 150,981.9 Mn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
Abbott, ArthroCare Corporation, Integer Holdings Corporation, Zimmer Biomet, DePuy Synthes, Inc., Conmed Corporation, GE Healthcare, Given Imaging Ltd., Intuitive Surgical, Inc., Medtronic plc., NuVasive, Inc., Philips Healthcare, InMode Ltd., Titan Medical Inc., Fractyl Inc., Biom’up SA, and Integrated Endoscopy |
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Growth Drivers: |
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Restraints & Challenges: |
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Global Minimally Invasive Surgery Market- Cross Sectional Analysis
In surgery, cardiac surgery held a dominant segment in North America region due to increasing prevalence of cardiac disorders. For instance, in July 2020, according to Healthline Media LLC, a consumer health publisher, about 647,000 people die due to cardiac disease every year that makes it the leading cause of death in the U.S.
Global Minimally Invasive Surgery Market- Key Developments
Global Minimally Invasive Surgery Market: Key Trends
Increasing Number of Cardiac Surgeries
Increasing number of cardiac surgeries is expected to drive the global minimally invasive surgery market growth over the forecast period. For instance, in June 2022, according to an article published by National Institute of Health, more than 2 million people underwent open-heart surgery to treat various heart problems worldwide, every year.
Global Minimally Invasive Surgery Market: Restraint
Disadvantages Associated with Minimally Invasive Surgery
Global minimally invasive surgery market growth can be hindered by disadvantages associated with minimally invasive surgery. For instance, in October 2020, according to Spine Institute of North America, a leading spine and pain specialist, the main disadvantage of minimally invasive surgery is that it requires a higher level of training, and thus, insufficient training can lead to complications such as perforation of the gallbladder, biliary leak, bile duct injury, biliary stricture, etc.
Hence, reducing the disadvantages associated with minimally invasive surgery will assess in the growth of the global minimally invasive surgery market.
Global Minimally Invasive Surgery Market - Key Players
Major players operating in the global minimally invasive surgery market include Abbott, ArthroCare Corporation, Integer Holdings Corporation, Zimmer Biomet, DePuy Synthes, Inc., Conmed Corporation, GE Healthcare, Given Imaging Ltd., Intuitive Surgical, Inc., Medtronic plc., NuVasive, Inc., Philips Healthcare, InMode Ltd., Titan Medical Inc., Fractyl Inc., Biom’up SA, and Integrated Endoscopy
*Definition: Minimally invasive surgery allows surgeon to use techniques that limit the size and number of cuts, or incisions. It is considered safe as compared to open surgery. The patient usually recover more quickly, spend less time in the hospital, and feel more comfortable while healing.
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About Author
Komal Dighe is a Management Consultant with over 8 years of experience in market research and consulting. She excels in managing and delivering high-quality insights and solutions in Health-tech Consulting reports. Her expertise encompasses conducting both primary and secondary research, effectively addressing client requirements, and excelling in market estimation and forecast. Her comprehensive approach ensures that clients receive thorough and accurate analyses, enabling them to make informed decisions and capitalize on market opportunities.
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