Minimally Invasive Surgical Instruments Market Size, Share & Trends Analysis Report By Device (Handheld Instruments, Inflation Devices), By Application (Cardiac, Gastrointestinal), By End-use, By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the minimally invasive surgical instruments market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for minimally invasive surgical instruments market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of minimally invasive surgical instruments market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Minimally Invasive Surgical Instruments Market Categorization:

The minimally invasive surgical instruments market was categorized into four segments, namely device (Handheld Instruments, Inflation Devices, Cutter Instruments, Guiding Devices, Electrosurgical Devices, Auxiliary Devices, Monitoring & Visualization Devices), end-use (Hospitals & Clinics, Ambulatory Surgical Centers), application (Cardiac, Gastrointestinal, Orthopedic, Vascular, Gynecological, Urological, Thoracic, Cosmetic, Dental), and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

Segment Market Methodology:

The minimally invasive surgical instruments market was segmented into device, end-use, application, and region. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The minimally invasive surgical instruments market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; Germany; the UK; France; Italy; Spain; Denmark; Sweden; Norway; China; Japan; India; Australia; Thailand; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Minimally invasive surgical instruments market companies & financials:

The minimally invasive surgical instruments market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Medtronic - Medtronic is headquartered in Ireland and was formed in the year of 1949. It is a global healthcare products company and a manufacturer of medical devices. It operates in various healthcare verticals, including patient monitoring, renal care, and pulse oximetry. It manufactures advanced energy-based surgical, gastrointestinal, brain monitoring, and mechanical ventilation devices.

• Healthineers AG - The company was founded in 1947 and is headquartered in the Netherlands. It has over 66,000 employees globally. The company provides medical technology, software solutions, and clinical consulting services to healthcare providers. Its business comprises six segments: diagnostic imaging, laboratory diagnostics, advanced therapies, ultrasound, point-of-care diagnostics, and services.

• Johnson & Johnson Services, Inc. - The company was established in 1886 and is headquartered in the United States. It employs more than 134,500 people. It is engaged in R&D, manufacturing, and commercializing an extensive range of products for the healthcare sector. The company also offers medicines for various therapeutic areas, such as attention-deficit hyperactivity disorder and acid reflux.

• GE Healthcare - The organization was established in 1994 in the U.S., and now the company has a large workforce of over 174,000 serving from globally. GE Healthcare is a subsidiary of General Electric (GE) and a manufacturer & marketer of diagnostic equipment and reagents, especially in the field of medical imaging. The company provides a wide range of products, services, and solutions used in diagnosis, treatment, & monitoring of patients, as well as in development & manufacture of biopharmaceuticals.

• Abbott - Abbott was established in 1888 and is headquartered in U.S. The company has a huge employee base of 115,000 serving from worldwide. Abbott is a pharmaceutical & healthcare company that designs, manufactures, and markets medical devices, diagnostic assays, nutritional products, animal health products, & pharmaceutical products. The company operates in four segments: nutritionals, diagnostics, branded generic pharmaceuticals, and cardiovascular & neuromodulation services.

• Intuitive Surgical, Inc. - The company was formed in 1995 and is headquartered in the U.S. It has over 9,700 employees across the globe. Intuitive Surgical, Inc. manufactures and markets robotic devices specially designed to perform minimally invasive surgeries. Its products help surgeons deliver better patient outcomes.

• ArthroCare Corporation (Smith & Nephew) - The company was established in 1856, and its headquarters is located in the U.K. ArthroCare Corporation is a medical device company that develops and markets surgical products. It offers products in sports medicines; ear, nose, & throat surgeries; and others, including spine, wound care, urology, & gynecology. ArthroCare Corporation was acquired by Smith+Nephew in 2014.

• NuVasive, Inc. - NuVasive, Inc is a U.S. based company and incorporated in the year of 1997. It is a medical device company that develops and markets minimally invasive products mainly for spine surgeries. The company generates a major portion of its revenue from its spine surgery product line, which comprises products for cervical & thoracolumbar spine surgeries.

• Zimmer Biomet - The company was established in 1927 and is headquartered in the United States. It employs more than 20,000 workforces. Zimmer Biomet is a medical device manufacturer specializing in musculoskeletal systems and solutions. It offers products through various segments: dental, biologics & biomaterials, bone healing, microfixation, orthopedics, spine, sports medicine, and trauma.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Minimally Invasive Surgical Instruments Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Minimally Invasive Surgical Instruments Market Report Assumptions:

• The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.