Visualization Instruments for MIS Market (Product Type: Visualization Systems and Consumables & Accessories; and MIS Type: Endoscopy and Robotic Surgery)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

According to Nova one advisor, the global Visualization Instruments for MIS market size was exhibited at USD 11.4 billion in 2022 and is projected to hit around USD 25.0 billion by 2032, growing at a CAGR of 9.2% during the forecast period 2023 to 2032.

Visualization instruments are systems used in operation theaters during surgical procedures. These instruments assist surgeons to carry out examination efficiently. This results in better patient outcomes. Surgical visualization systems reduce reflections and increase the usable contrast ratio. This helps in visualization of the body during surgeries.

Increase in advantages of MIS over open surgeries, rise in demand for minimally invasive surgeries, robust growth in medical robotic technology, and technological advancements in visualization instruments are the major market catalysts.

Less wound pain, faster functional recovery, and shorter hospital stay are the key advantages of minimally invasive surgery over open surgery. Surgery is the only known treatment option for gastric cancer. The benefits of MIS have encouraged octogenarians and older patients who face high operative morbidity and mortality to undergo surgery rather than strictly conservative treatment.

Adoption of MIS leads to significantly less blood loss, lower analgesic consumption, and shorter postoperative hospital stay compared to open surgery. It also facilitates faster time to first flatus & soft die. Hence, MIS for gastric cancer can be performed safely in octogenarians and older patients.

Rapid growth of medical robotic systems can be ascribed to a blend of technological improvements such as usage of more efficient motors, compact & light materials, power back-up, and sophisticated controls and safety mechanisms, along with more economic versions.

Technological advancements in visualization systems are fueling the industry. For instance, in March 2019, Stryker launched transformative visualization equipment designed to enhance the surgical experience for arthroscopy.

Report Scope of the Visualization Instruments for MIS Market

COVID-19 Impact on Visualization Instruments for MIS Market Development

COVID-19 had a negative effect on the industry in 2020. The unprecedented pandemic has largely affected North America and Europe. The arthroscopic visualization instrument industry growth is concentrated in these regions. Demand for instruments and consumables & accessories decreased in 2020. The pandemic had a significant effect on sales of several manufacturers in 2020, as hospitals and surgery centers deferred non-urgent surgeries.

According to a study published in December 2020 in PubMed on the impact of COVID-19 on gastrointestinal endoscopy, more than 98.7% of the gastroenterologists in France had to cancel endoscopic procedures in March 2020. However, the number of orthopedic surgeries increased in 2021 compared to that in 2020, as procedure volumes gradually returned to normal levels. Thus, recovery in sales of visualization instruments for MIS is likely to overcome COVID-19 related market limitation to a certain extent in the near future.

Repetitive Purchase of Consumables and Accessories Propelling Consumables & Accessories Segment

In terms of product type, the visualization systems segment held the largest global visualization instruments for MIS market share in 2021. The trend is expected to continue during the forecast period due to technological advancements in MIS visualization systems to enhance imaging capabilities and increase in launch of visualization systems. The consumables & accessories segment is likely to grow at a rapid pace during the forecast period owing to repetitive purchase and rise in adoption of consumables and accessories of visualization systems.

Higher Adoption of Visualization Instruments in Endoscopy

Based on MIS type, the endoscopy segment held major share of the visualization instruments for MIS business in 2021. This can be ascribed to the rise in number of endoscopy procedures and increase in adoption of visualization instruments and MIS instruments in endoscopy procedures. According to Becker's Healthcare, 75 million endoscopies are performed in the U.S. every year; 51.5 million (68%) of these are gastrointestinal endoscopies.

Higher Number of Procedures Performed in Hospitals

In terms of end-user, the hospitals segment held the largest visualization instruments for MIS industry share in 2021. This can be ascribed to the increase in number of hospitals and rise in number of MIS procedures performed in these settings. According to the American Hospital Association (AHA), the number of hospitals in the U.S. rose from 5,564 in 2017 to 6,093 in 2022. Growth in the number of hospitals in the region has led to a surge in number of MIS procedures performed.

Regional Analysis of Visualization Instruments for MIS Industry

According to the visualization instruments for MIS market trends, Europe accounted for significant share in 2021. This can be ascribed to the rise in prevalence of lifestyle-related and chronic disorders, technological advancements in MIS visualization instruments, increase in healthcare expenditure, and higher acceptance rate of minimally invasive surgeries over traditional surgeries in the region. According to European Commission statistics, the government expenditure on healthcare in the EU stood at US$ 1,221.9 Bn, which constituted about 7.0% of the GDP in 2022.

Latin America is expected to record significant market progress during the forecast period. This can be ascribed to the increase in geriatric population, developing healthcare infrastructure, and rise in awareness about MIS surgeries in the region.

Key Visualization Instruments for MIS Market Developments

• In September 2022, Olympus Corporation launched VISERA ELITE III surgical visualization platform that offers various imaging functions that are supported in one system enabling minimally invasive therapies such as laparoscopic colectomy and laparoscopic cholecystectomy. VISERA ELITE III system integrates the 3D and infrared1 imaging functions from VISERA ELITE II and the 4K imaging function from VISERA 4K UHD system. It also supports fluorescence guided surgery as well as Narrow Band Imaging (NBI).
• In March 2022, Lazurite Holdings LLC received the U.S. FDA clearance for its ArthroFree Wireless Camera System that is used in minimally invasive surgeries. The system is designed to deliver improved operating room productivity, patient safety, and economic value through cost savings, energy efficiency, and reduced setup/breakdown times.
• In February 2022, Stryker Corporation acquired Vocera Communications, Inc., a digital care coordination and communication company. The acquisition offers significant opportunities to Stryker to advance its innovations and accelerate digital aspirations to enable safer patient care and assist customers to improve outcomes.

Some of the prominent players in the Visualization Instruments for MIS Market include:

• Arthrex GmbH
• B. Braun Melsungen AG
• CONMED Corporation
• Medtronic plc
• Millennium Surgical Corp
• Olympus Corporation
• Richard Wolf GmbH
• Lazurite Holdings LLC
• Smith & Nephew plc
• Stryker Corporation

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Visualization Instruments for MIS market.

• Product Type
• Visualization Systems
• 2D Systems
• 3D Systems
• Consumables & Accessories
• MIS Type
• Endoscopy
• Arthroscopy
• Laparoscopy
• Obstetrics & Gynecology Endoscopy
• Urologic Endoscopy
• Bronchoscopy
• Gastroscopy
• Others
• Robotic Surgery
• End-user
• Hospitals
• Clinics
• Ambulatory Surgery Centers
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Visualization Instruments for MIS industry analysis from 2023 to 2032 to identify the prevailing Visualization Instruments for MIS industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Visualization Instruments for MIS industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Visualization Instruments for MIS industry trends, key players, market segments, application areas, and market growth strategies.