South Korea Minimally Invasive Surgical Instruments Market Size & Outlook
South Korea Minimally Invasive Surgical Instruments Market, 2018-2030 (US$M)
Global Market
Related Markets
South Korea minimally invasive surgical instruments market highlights
- The South Korea minimally invasive surgical instruments market generated a revenue of USD 521.0 million in 2023 and is expected to reach USD 1,116.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 11.5% from 2024 to 2030.
- In terms of segment, handheld instruments was the largest revenue generating type in 2023.
- Electrosurgical Devices is the most lucrative type segment registering the fastest growth during the forecast period.
Minimally invasive surgical instruments market data book summary
| Market revenue in 2023 | USD 521.0 million |
| Market revenue in 2030 | USD 1,116.4 million |
| Growth rate | 11.5% (CAGR from 2023 to 2030) |
| Largest segment | Handheld instruments |
| Fastest growing segment | Electrosurgical Devices |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Handheld Instruments, Inflation Devices, Cutter Instruments, Guiding Devices, Electrosurgical Devices, Auxiliary Devices, Monitoring & Visualization Devices |
| Key market players worldwide | Medtronic PLC, Siemens Healthineers AG ADR, Johnson & Johnson, GE HealthCare Technologies Inc Common Stock, Abbott Laboratories, Intuitive Surgical Inc, Zimmer Biomet Holdings Inc |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.6% of the global minimally invasive surgical instruments market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan minimally invasive surgical instruments market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,116.4 million by 2030.
The increasing awareness regarding minimally invasive surgery, coupled with technological advancements, across South Korea, is anticipated to fuel the market growth. According to a study published by MDPI in 2021, surgeons in the region are increasingly adopting technologically advanced minimally invasive procedures such as single-incision, reduced-port, robotic, and image-guided laparoscopic gastrectomy.
This is contributing to the rising demand for technologically advanced minimally invasive surgical instruments in South Korea. Moreover, increasing investment from the government for the development of healthcare infrastructure and presence of major market players is anticipated to drive the demand for the market over the forecast period.
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Minimally Invasive Surgical Instruments Market Scope
Minimally Invasive Surgical Instruments Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Johnson & Johnson | View profile | 134,400 | One Johnson and Johnson Plaza, New Brunswick, NJ, United States, 08933 | www.jnj.com |
| GE HealthCare Technologies Inc Common Stock | View profile | 51,000 | 500 West Monroe Street, Chicago, IL, United States, 60661 | www.gehealthcare.com |
| Abbott Laboratories | View profile | 114,000 | 100 Abbott Park Road, Abbott Park, IL, United States, 60064-6400 | www.abbottinvestor.com |
| Medtronic PLC | View profile | 95,000 | Lower Hatch Street, 20 On Hatch, Dublin, Ireland, 2 | www.medtronic.com |
| Siemens Healthineers AG ADR | View profile | 71,400 | Siemensstr. 3, Forchheim, BY, Germany, 91301 | www.siemens-healthineers.com |
| Zimmer Biomet Holdings Inc | View profile | 18,000 | 345 East Main Street, Warsaw, IN, United States, 46580 | www.zimmerbiomet.com |
| Intuitive Surgical Inc | View profile | 13,676 | 1020 Kifer Road, Sunnyvale, CA, United States, 94086-5304 | www.intuitive.com |
South Korea Minimally Invasive Surgical Instruments Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Minimally Invasive Surgical Instruments Market Outlook will help companies and investors design strategic landscapes.
Handheld Instruments was the largest segment with a revenue share of 22.69% in 2023.
Horizon Databook has segmented the South Korea minimally invasive surgical instruments market based on handheld instruments, inflation devices, cutter instruments, guiding devices, electrosurgical devices, auxiliary devices, monitoring & visualization devices covering the revenue growth of each sub-segment from 2018 to 2030.
The increasing awareness regarding minimally invasive surgery, coupled with technological advancements, across South Korea, is anticipated to fuel the market growth. According to a study published by MDPI in 2021, surgeons in the region are increasingly adopting technologically advanced minimally invasive procedures such as single-incision, reduced-port, robotic, and image-guided laparoscopic gastrectomy.
This is contributing to the rising demand for technologically advanced minimally invasive surgical instruments in South Korea. Moreover, increasing investment from the government for the development of healthcare infrastructure and presence of major market players is anticipated to drive the demand for the market over the forecast period.
- South Korea Minimally Invasive Surgical Instruments Market Type Outlook (Revenue, USD Million , 2018-2030)
- Handheld Instruments
- Inflation Devices
- Cutter Instruments
- Guiding Devices
- Electrosurgical Devices
- Auxiliary Devices
- Monitoring & Visualization Devices
- South Korea Minimally Invasive Surgical Instruments Market Application Outlook (Revenue, USD Million , 2018-2030)
- Cardiac
- Gastrointestinal
- Orthopedic
- Vascular
- Gynecological
- Urological
- Thoracic
- Cosmetic
- Dental
- Others
- South Korea Minimally Invasive Surgical Instruments Market End Use Outlook (Revenue, USD Million , 2018-2030)
- Hospitals
- Ambulatory Surgical Centers
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea Minimally Invasive Surgical Instruments Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into South Korea Minimally Invasive Surgical Instruments Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
South Korea Minimally Invasive Surgical Instruments Market, 2018-2030 (US$M)
South Korea minimally invasive surgical instruments market statistics, by type, 2018-2030 (US$M)
