Minimally Invasive Surgical Instruments Market
According to Nova one advisor, the global Minimally Invasive Surgical Instruments market size is expected to hit around USD 60.95 billion by 2030 from valued at USD 20.06 billion in 2021 and growing at a CAGR of 9.11% from 2022 to 2030.
Key Takeaways:
Surgical robots have revolutionized the field of minimally invasive surgeries and their acceptance by the surgeons is rising globally. The cost of minimally invasive surgical (MIS) 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 coming years. Increasing launch of new products and a growing number of product approvals by several market players for gaining a larger market share are anticipated to create robust growth opportunities during the forecast period. For instance, in December 2020, Abbott launched a minimally invasive heart valve repair device to treat mitral regurgitation in India.
Minimally invasive surgeries are much less traumatic than conventional open surgeries. Traditional surgeries performed with conventional laparoscopic instruments can be traumatic and complex. Minimally invasive laparoscopic cameras are inserted through smaller incisions and specialized smaller instruments are used to perform the operation. The healing process is less painful and patients can recover fastest after minimally invasive surgeries.
Minimally invasive procedures are gaining surgical demand due to quicker recovery, smaller incisions, reduced scarring & pain, increased accuracy, and shorter hospital stays. Medical displays ensure superior visibility of diagnostic images, displaying even the slightest difference in tissues and cells, ensuring precise and quicker surgeries. The consistent technological advancements in this field provide higher-quality instruments that allow the surgeons to perform the surgical interventions efficiently without sacrificing patient safety. The improved product designs provide a level of control and accuracy in the operating room. It is highly beneficial for the treatment of breast cancer, abdominal surgeries, cardiac, orthopedic, ophthalmic, neurological, and oral surgical procedures. It is said to be the best choice over open surgeries, especially in geriatric patients as the healing time is drastically reduced.
Additionally, studies suggest that Virtual reality when combined with display devices in the operating rooms, improves the visualization of tissues and their handling at inaccessible internal spots, ultimately improving accuracy during minimally invasive surgery. VR helps to evaluate various conditions and treatment alternatives on virtual patients before the actual treatment technique is performed in a care setting. Advancements in instrumentation and video imaging are likely to renovate several procedures in various surgical specialties from open to endoscopic surgeries. MIS techniques have been used to reduce the complications related to open exposures such as infection and wound post lumbar spine fusion surgery.
Further, market leaders like Medtronic, Abbott, Zimmer, and Biomet have launched newer products robotic-assisted technology. For instance, in 2020, Medtronic entered into a definitive agreement with Titan Medical to develop robot-assisted surgical technologies. Also, In 2020, Abbott launched a minimally invasive heart valve. repair device to treat mitral regurgitation in India. The company’s product, IonicRF Generator, is responsible for delivering minimally invasive, nonsurgical treatment for pain management in the nervous system.
Despite, huge investment in R&D and product launches with advanced features, the minimally invasive surgical instruments market witnessed a dip in 2020 due to the outbreak of COVID-19. National lockdowns, stop on logistics movements, lack of resource availability, and most importantly, the economic instability of hospitals and end use settings, led to the fall of the market. A dramatic decline in elective surgeries by nearly 50% across the globe, cancellation of planned laparoscopic surgeries for the year 2020 and early 2021, reduced medical staff, increased workload on surgeons, and risk associated with viral spread, also fueled the market drop. However, it is said to rise sharply by early 2022.
Report Scope of the Minimally Invasive Surgical Instruments Market
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Report Coverage |
Details |
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Market Size |
USD 60.95 Billion by 2030 |
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Growth Rate |
CAGR of 9.11% from 2022 to 2030 |
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Largest Market |
North America |
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Fastest Growing Market |
Asia Pacific |
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Base Year |
2021 |
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Forecast Period |
2022 to 2030 |
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Segments Covered |
Device, end use, application, and Region, |
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Companies Mentioned |
Medtronic; Siemens; Healthineer AG; Ethicon, Inc. (Johnson & Johnson); Depuy Synthes; GE Healthcare; Abbott Laboratories; Intutive Surgical, Inc.; Nuvasive, Inc.; Zimmer Biomet |
Device Insights
In 2021, the handheld instruments segment dominated the minimally invasive surgical instruments market with more than 22.9% share. Handheld instruments used in MIS techniques target reducing the amount of damage to extraneous tissues during surgical procedures, thereby speeding patient recovery time and reducing discomfort & side effects. Most of the instruments in the MIS market are single-use products.
The handheld instruments market is driven by technological innovations and their growing adoption in minimally invasive surgeries. For instance, a low-cost mechanical instrument has been developed recently to perform minimally invasive laparoscopic surgeries. These handheld devices can be either mechanical, robotic, or semi-automated. Handheld devices ensure easier access during surgery with instrument triangulation, thereby reducing the risk of potential mistakes.
Application Insights
The orthopedic application segment dominated the market with a revenue share of over 24.6% in 2021. 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 a faster healing process. Most often MIS is utilized in the hip as well as knee replacement surgery. Hospitals and surgeons seek surgical procedures that result in fewer operative as well as postoperative complications and reduced hospitalization period. On the other hand, pats seek surgical treatments that reduce trauma and allow speedy recovery.
Cardiac surgery is one of the key factors boosting the adoption of minimally invasive surgeries. Minimally invasive surgeries have various potential benefits over conventional surgeries such as minimal blood loss, reduction in pain & trauma, minimal risk of infection, lesser or smaller noticeable scars, faster recovery, shorter duration of hospitalization, and quicker return to normal activities. Rising incidence of cardiovascular diseases is one of the significant factors leading to an increase in the adoption of minimally invasive surgeries over conventional ones owing to the various advantages of these surgeries.
End-Use Insights
The hospital segment accounted for the maximum revenue share of over 65.2% in 2021. On the other hand, ambulatory surgical centers are expected to witness the fastest growth rate over the forecast period. Currently, over 5,500 Medicare certified ambulatory surgical centers are present in the U.S. Ambulatory surgical centers offer surgeries to patients at lower costs and greater flexibility of scheduling as compared to hospitals. Also referred to as same-day surgery centers, these medical facilities discharge patients after minor surgeries.
The demand for outpatient surgeries is likely to grow dramatically in the coming years. The growth in ambulatory surgical centers can be attributed to several factors including rise in minimally invasive procedures, advancement in the field of anesthesia, enhanced patient experiences, legislative changes, and economic pressures. To encourage the use of ambulatory surgical centers, Medicare waived the part B deductible for beneficiaries.
Regional Insights
North America dominated the regional segment of MIS market in 2021 with a revenue share of 44.8% due to the high rate of unintentional injuries and large geriatric population. According to a report by the Organization for Economic Co-operation and Development (OECD), per capita healthcare expenditure in the U.S. is higher than all the other countries in the world. In addition, patients in the U.S. have the ability to choose methods of treatment as well as the providers. This is likely to have a positive impact on the MIS market in North America. On the other hand, Asia Pacific is expected to be fastest-growing regional market from 2022 to 2030.
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 demand for minimally invasive procedures in this region is mainly driven by rising medical tourism mainly for cosmetic surgeries.
Some of the prominent players in the Minimally Invasive Surgical Instruments Market include:
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 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Minimally Invasive Surgical Instruments market
By Geography
Key Benefits for Stakeholders