Minimally Invasive Surgical Instruments Market worth $28.9 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Sept. 23, 2021 /PRNewswire/ -- According to the new market research report "Minimally Invasive Surgical Instruments Market by Product (Handheld Instruments, Inflation Devices, Surgical Scopes), Type of Surgery (Cardiothoracic, Gastrointestinal, Orthopedic, Urological), End User (Hospitals, ASCs), Region - Global Forecast to 2026", published by MarketsandMarkets™, the global market is projected to reach USD 28.9 billion by 2026 from USD 20.2 billion in 2021, at a CAGR of 7.4%.
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The advantages of MIS over open surgical techniques, the increasing number of surgical procedures worldwide, and the increasing adoption of advanced robotics in ASCs are among the major factors propelling the growth of this market. Emerging economies such as China, Japan, and India are providing lucrative opportunities for the players operating in the MIS Instruments Market.
The handheld instruments segment accounted for the largest share of the minimally invasive surgical instruments market, by product segment, in 2020
Based on product, the market is segmented into handheld instruments, inflation devices, surgical scopes, cutting instruments, guiding devices, electrosurgical & electrocautery instruments, and other instruments. The handheld instruments accounted for the largest share of the market in 2020. Factors such as the rising technological innovations in handheld instruments, the increasing number of surgical procedures, and the low cost of articulating laparoscopic handheld surgical instruments are boosting the market growth of this segment.
Orthopedic surgery segment to register the highest growth rate during the forecast period
The minimally invasive surgical instruments market has been segmented into cardiothoracic surgery, gastrointestinal surgery, orthopedic surgery, gynecological surgery, cosmetic & bariatric surgery, urological surgery, and other surgeries. 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 hospitals and specialty clinics segment accounted for the largest share of the minimally invasive surgical instruments, by end user segment, in 2020
Based on end users, the MIS 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. 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.
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North America is the largest regional market for minimally invasive surgical instruments market
The global MIS 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 minimally invasive surgical instrument 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 major players operating in MIS Instruments 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).
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