The global minimally invasive surgical instruments market size was valued at USD 18.3 billion in 2017. It is anticipated to expand at a CAGR of 9.7% over the forecast period. The cost of these procedures is significantly less than in-patient and conventional open surgeries with equal outcomes resulting in a significant increase in value for the patient as well as insurance providers. This trend is likely to continue in the years to come.
Minimally Invasive Surgeries (MIS) are less traumatic than conventional open surgeries. Surgeries performed with conventional laparoscopic instruments can be traumatic and complex. Minimally invasive laparoscopic cameras are inserted through small incisions and specialized small instruments are used to perform these operations. The healing process is less painful and patients can recover at a faster rate after these surgeries.
The MIS market is constantly transforming owing to technological advancements, especially in the fields of cardiac, orthopedic, ophthalmic, neurological, and oral surgical procedures. The coinstantaneous technological advancements provide higher-quality instruments that allow surgeons to perform operative interventions efficiently without sacrificing patient safety. The improved product designs provide a level of control and accuracy in the operating room.
Ambulatory centers are increasingly preferred for performing MIS as they facilitate same-day-discharge to patients. The Centers of Medicare & Medicaid Services (CMS) requires ambulatory centers to meet specific criteria to be Medicare certified. The CMS requirements include patient care, facility design, and operational excellence.
In 2017, handheld instruments segment led the MIS instruments market in terms of revenue share. Handheld instruments target at reducing the amount of damage to extraneous tissues, thereby speeding up patient recovery time and reducing discomfort and side effects. Most of minimally invasive surgical instruments are single-use products.
Variety of dosage forms are being developed for sustained delivery of drugs, along with MIS and laser approaches. Rising need for easy treatment and therapies is resulting in development of simplified procedures. For instance, the treatment method of sacroiliac fusion for correction of failed lumbosacral fusions traditionally involves a complicated surgery requiring reopening of preceding surgical incision. It results in high blood loss and risk of infection apart from increasing operative time.
However, a MIS approach using two small 3-cm incisions helps perform arthrodesis, obtain autologous iliac crest bone graft, and connect the prior surgical hardware to the sacroiliac screw safely. Such innovations are anticipated to propel growth opportunity for the market over the forecast period.
Orthopedic was the largest application segment in the minimally invasive surgical instruments market in terms of revenue share in 2017. In orthopedic MIS procedures, no muscles need to be cut or separated from the bone. Therefore, this approach has led to improved patient satisfaction and faster healing process. Most often MIS is utilized in hip as well as knee replacement surgery. Hospitals and surgeons seek the surgical procedures that result in fewer operative as well as postoperative complications and reduced hospitalization period. On the other hand, patients seek surgical treatments that reduce trauma and facilitate speedy recovery.
Cosmetics is expected to be the fastest growing application segment over the forecast period due to the rising demand of cosmetic surgeries over conventional surgical approach leading to technological development in the field. According to the American Society of Plastic Surgeons, in 2016, around 15.4 million minimally invasive cosmetic procedures were performed with a domination of onabotulinumtoxinA injections.
The hospital segment held majority of the market share in terms of revenue in 2017. On the other hand, ambulatory surgical centers are expected to witness the fastest CAGR over the forecast period from 2018 to 2025.Currently, over 5,500 Medicare certified ambulatory surgical centers are present in U.S. They offer surgeries at lower costs and greater flexibility of scheduling as compared to hospitals.
The demand for outpatient surgeries is likely to grow dramatically in the forthcoming years. The growth in ambulatory surgical centers can be attributed to several factors including rise in minimally invasive procedures, advancements in the field of anesthesia, enhanced patient experiences, legislative changes, and economic pressures. To encourage the use of these centers, Medicare waived the part B deductible for beneficiaries.
North America emerged as the dominant regional segment in 2017 due to the high rate of unintentional injuries and rising geriatric population. According to a report published by the Organization for Economic Co-operation and Development (OECD), per capita healthcare expenditure in U.S. is higher than all the other countries in the world. In addition, patients in U.S. have an ability to choose methods of treatment as well as the providers. This is likely to have a positive impact on regional market growth.
On the other hand, Asia Pacific is expected to be the fastest growing region over the forecast period from 2018 to 2025. The rising geriatric population in Japan and China, road crashes, and developing economy are expected to promote the emergence of MIS procedures in Asia Pacific. The regional demand for minimally invasive procedures is largely driven by rising medical tourism mainly for cosmetic surgeries.
Some of the key players operating in this market are Medtronic; Stryker; Smith & Nephew; Abbott; NuVasive, Inc.; CONMED; Zimmer Biomet; and Intuitive Surgical, Inc. In 2017, Medtronic was the leader in terms of market presence. Medtronic offers several MIS solutions for the coronary artery disease. Additionally, the company has developed a system for spinal surgery and a stabilization system based on MIS techniques.
Another established market player, Intuitive Surgical, Inc., offers daVinci surgical system. This system proved to be innovative and significant in the MIS domain. Being an early entrant in MIS market, the company is equipped with advanced R&D and sales team. New scientific innovations, mainly surgical robots, are most likely to boost the demand for minimally invasive procedures.
Most companies are investing in R&D activities in order to capture the lucrative market. In addition, some of them are opting for acquisitions of smaller companies to expand and strengthen their regional outreach. In January 2017, the company acquired St. Jude Medical, Inc. expanding their portfolio for devices and diagnostics. St. Jude Medical launched Trifecta Valve with Glide Technology (GT) in May 2016, for the treatment of damaged aortic valves.
Base year for estimation
Actual estimates/Historical data
2014 - 2016
2018 - 2025
Revenue in USD Million and CAGR from 2018 to 2025
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
U.S., Canada, U.K., Germany, France, Italy, Spain, Japan, China, India, Australia, Brazil, Mexico, South Africa
Revenue forecast, company share, competitive landscape, growth factors & trends
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This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global minimally invasive surgical instruments market report on the basis of device, application, end use, and region:
Device Outlook (Revenue, USD Million, 2014 - 2025)
Monitoring & Visualization Devices
Application Outlook (Revenue, USD Million, 2014 - 2025)
End Use Outlook (Revenue, USD Million, 2014 - 2025)
Hospitals & Clinics
Ambulatory Surgical Centers
Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East & Africa
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