One or more small incisions are made on the patient to access the desired bodily cavity using minimally invasive surgical tools. These instruments allow surgeons to avoid the significant physical strain associated with open surgical operations by cutting the length of various surgical procedures by 10% to 20%. Surgical instruments in minimally invasive procedures are constructed of titanium, tantalum, platinum, palladium, and stainless steel. In minimally invasive surgical treatments, various equipment with various purposes is used, including endo staplers, trocars, electrosurgical, cutter, and laparoscopic instruments.
In 2021, the minimally invasive surgical instruments market was worth USD 22.38 billion, and by 2030, it will reach USD 43.76 billion, expanding at a 7.21% CAGR during the forecast period.
The main factors affecting the market growth for minimally invasive surgical instruments are rising healthcare costs, an aging population, and an increase in the prevalence of chronic disorders. Additionally, the rise in the use of minimally invasive procedures has been a significant factor in the market’s expansion.
Market Dynamics
Drivers
The demand for minimally invasive surgical equipment is growing in the global market as a result of the advantages of these treatments, such as less major operating and postoperative complications and quicker recovery times. The market for minimally invasive surgical devices is expanding due to the rising rate of chronic diseases. According to the World Health Organization’s (WHO) statistics report for 2021, non-communicable diseases, also called chronic diseases, claim the lives of almost 41 million people per year, or about 71% of all fatalities globally. The same source estimates that non-communicable illnesses kill close to 15 million people between 30 and 69 each year worldwide. Therefore, the need for minimally invasive surgical procedures is being driven by the increased burden of non-communicable diseases. Over the forecast period, this will directly impact the growth of the global market for minimally invasive surgical devices.
Restraints
The increasing cost of MIS is the primary factor severely impeding market expansion globally. The overall cost of healthcare (direct and indirect) related to MIS-TLIF is USD 40,000. Additionally, the enormous wait times for FDA clearances to introduce MIS equipment into the market are severely impeding the expansion of the total market.
Opportunity
The demand for minimally invasive surgical (MIS) tools, including new surgical robots (like the Da Vinci Surgical Robot) and highly advanced image guiding systems (like ultrasound medical imaging, MRI, and CT scan), is rising steadily around the world and will increase exponentially in the coming years.
Market Segmentation
Device Insights
In 2021, the handheld instruments segment had the biggest revenue share. The handheld instruments segment is rising due to technical improvements, especially due to the usage of robotics. Comparing these minimally invasive surgical tools to other minimally invasive surgical tools, they are more affordable. Handheld equipment is also simple to use. All of these factors mentioned above are fuelling the expansion of the segment.
The electrosurgical devices segment will expand rapidly during the forecast period. The electrosurgical devices segment will grow rapidly owing to the increasing prevalence of chronic illnesses, an aging population, and an increase in minimally invasive surgical procedures.
Application Insights
In 2021, the orthopedic segment ruled the market with 25% of the revenue share. Compared to conventional surgical techniques, orthopedic minimally invasive surgical procedures are considerably less dangerous. Therefore, minimally invasive surgical tools are employed in important orthopedic procedures. These reasons have led to a significant increase in general and orthopedic surgeons’ use of minimally invasive surgical devices.
From 2022 to 2030 cardiac surgery segment will expand rapidly. Less pain and blood loss are two benefits of minimally invasive procedures over regular surgery. Additionally, a major factor influencing the demand for minimally invasive surgical devices for cardiac surgery is the rising prevalence of cardiovascular illnesses.
End-Use Insights
In 2021, the hospital segment was the biggest market, with a revenue share of nearly 67% due to the increasing number of hospitals globally. Moreover, the government worldwide is doing efforts to improve healthcare facilities. Additionally, the market is expanding due to the increasing prevalence of chronic diseases.
Regional Analysis
North America led the entire market in 2021 with a significant revenue share of 41% due to the rising incidence of various ailments. Per a report by the Centers for Disease Control and Prevention in September 2021, heart disease is the leading cause of death in the United States. In 2019, 360,900 persons in the United States died from coronary heart disease, while 18.2 million adults aged 20 and older have coronary artery disease.
Key Players
- Smith & Nephew plc
- Stryker Corporation
- Medtronic plc
- Braun Melsungen AG
- Johnson & Johnson
- Abbott Laboratories, Inc.
- CONMED Corporation
- Zimmer Biomet Holdings, Inc.
- Boston Scientific Corporation
- Becton, Dickinson, and Company
- Surgical Innovations Group plc
- Scanlan International, Inc.
- HOYA Corporation
- Koninklijke Philips N.V.
- KARL STORZ SE & Co. KG
- The Cooper Companies Inc.
- FUJIFILM Holdings Corporation
- STRAUSS SURGICAL
- Applied Medical Resources Corporation
- KLS Martin Group
- TROKAMED GmbH
- Surgical Holdings
- AMNOTEC International Medical GmbH
- Wexler Surgical
- EndoMed Systems GmbH
In 2021, the minimally invasive surgical instruments market was worth USD 22.38 billion, and by 2030, it will reach USD 43.76 billion, expanding at a 7.21% CAGR during the forecast period. Increased product launches and an increasing number of product approvals by many market participants to achieve a larger market share will generate substantial growth prospects throughout the forecast period.
Negligibly obtrusive medical procedures are significantly less awful than traditional open medical procedures. Customary medical procedures performed with regular laparoscopic instruments can be awful and complex. Negligibly intrusive laparoscopic cameras are embedded through more modest cuts and concentrated more modest instruments are utilized to play out the activity. The mending system is less agonizing and patients can recuperate quickest after insignificantly intrusive medical procedures.
Insignificantly intrusive methods are acquiring careful interest due to speedier recuperation, more modest cuts, decreased scarring and torment, expanded precision, and more limited medical clinic stays. Clinical showcases guarantee the predominant permeability of analytic pictures, showing even the smallest distinction in tissues and cells, guaranteeing exact and faster medical procedures.
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