Minimally-Invasive Surgery Devices Market Research Report - Global Forecast till 2024
Global Minimally-Invasive Surgery Devices Market value of USD 20093.4 million in 2018 and is projected to grow at a CAGR of 9.8% over the forecast period.
Global Minimally-invasive surgery devices market Research Report Information by Type (Handheld Instruments, Inflation Devices, Cutter Instruments, Guiding Devices, Electrosurgical Devices and Auxiliary Devices), Application (Cardiac Surgery, Gastrointestinal Surgery, Orthopedic Surgery, Vascular Surgery, Gynecological Surgery, Urological Surgery, Thoracic Surgery, Cosmetic Surgery and Dental Surgery), End User (Hospitals & Clinics, Ambulatory Surgical Centers) - Forecast till 2024
The Global Minimally-Invasive Surgery Device is a segment of the surgery devices market. Minimally-invasive surgery devices the fastest growing segment for the global minimally-invasive surgery device. The global minimally-invasive surgery devices market expected to grow significantly over the forecast period. It is anticipated that the market held a market value of USD 20093.4 million in 2018 and is projected to grow at a CAGR of 9.8% over the forecast period. Minimally-invasive surgery device is one of the major segment of surgery device and is expected to grow at the fastest growth rate. The major factors influencing the growth of the market include; rising economic growth, increasing geriatric population, increasing prevalence of chronic diseases. According to World Health Organization (WHO), the amount of the burden of chronic diseases is expected to escalate to 60% by 2020, and 79% of deaths due to these diseases would occur in developing countries.
Moreover, an increasing number of minimally invasive procedures has been one of the major factor influencing the growth of the market. Due to major benefits associated with minimal surgical procedures, such as, small or no incision, short hospital stay, less pain, quick recovery time, less scarring, and reduction in blood loss, the demand for minimally invasive surgery is increasing. The rising popularity of non-robotic minimally invasive surgery has boosted the global minimally invasive surgery devices market.
However, factors such as stringent government regulations and high-cost surgery device are hampering the growth of the market.
The global minimally-invasive surgery devices market has been segmented into type, application, and end user.
Based on type, market segmented into handheld instruments, inflation devices, cutter instruments, guiding devices, electrosurgical devices, auxiliary devices, and others.
Based on application, the minimally-invasive surgery devices market is segmented into cardiac surgery, gastrointestinal surgery, orthopedic surgery, vascular surgery, gynecological surgery, urological surgery, thoracic surgery, cosmetic surgery, dental surgery, and others.
Based on end user, minimally-invasive surgery devices market segmented into hospitals & clinics, ambulatory surgical centers, and others.
The global minimally-invasive surgery devices market, by region, has been segmented, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The minimally-invasive surgery devices market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European minimally-invasive surgery devices market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The minimally-invasive surgery devices market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The minimally-invasive surgery devices market in the Middle East & Africa has been segmented into the Middle East and Africa.
Some of the prominent players in the Global Minimally-Invasive Surgery Devices Market are Abbott,
GE Healthcare, Medtronic, Inc, Ethicon, Inc., Intuitive Surgical, Inc, Siemens Healthcare GmbH
ArthroCare Corporation, DePuy Synthes, NuVasive, Inc., Biomet, Inc, Norwood Medical, KEBOMED Europe AG, Fortimedix Surgical, Freudenberg Medical, and others.
Geographically, the Americas is anticipated to dominate the global minimally-invasive surgery devices market owing to the presence of a huge patient population, high healthcare expenditure, well-developed technology, and the presence of the leading players. Moreover, according to the Population Reference Bureau, the number of Americans aged over 65 is projected to be more than double from 46 million in 2014 to over 98 million by 2060. Geriatric people are more prone to different diseases. The presence of huge geriatric population has fueled the growth of the market in America. In addition to this, increasing government support for the development of the advanced devices and well-developed healthcare sector has provided support for the growth of the minimally invasive surgical device market in America.
Europe is expected to hold the second largest position in the global minimally-invasive surgery devices market.
Asia Pacific is the fastest growing minimally-invasive surgery devices market owing to the increasing need for better monitoring devices, rapidly improving technology and the presence of a huge patient pool. Additionally, the presence of huge geriatric population and the presence of huge opportunities for the development of this market have paved the way to the market growth. Many manufacturers are trying to expand their presence in the region due to rapidly growing economies and the increasing availability of funds, and growing demand for the devices.
The Middle East and Africa market for minimally-invasive surgery device is expected to grow at a steady pace.
Global Minimally-Invasive Surgery Devices Market, by Type
Global Minimally-Invasive Surgery Devices Market, by Application
Global Minimally-Invasive Surgery Devices Market, by End User
Hospitals & Clinics
Ambulatory Surgical Centers
Global Minimally-Invasive Surgery Devices Market, by Region
Rest of Western Europe
Rest of Asia-Pacific
The Middle East & Africa
Global Minimally-Invasive Surgery Devices Market, by Key Players
Minimally-invasive surgery device manufacturers
Minimally-invasive surgery device distributors
Hospitals, clinics, and associations
Private insurance companies
Various research and consulting firms