Overview and Scope
Minimally invasive surgery refers to operating on the body with less damage than open surgery. The surgeon uses small tools, cameras, and lights that fit through several tiny cuts in your skin during minimally invasive surgery. These kinds of surgery primarily aim to reduce postoperative pain and blood loss, accelerate recovery, and reduce scarring.
Sizing and Forecast
The minimally invasive surgery market size has grown strongly in recent years. It will grow from <b>$57.7 billion in 2023 to $63.41 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. </b> The growth in the historic period can be attributed to patient awareness, reduced hospital stay, lower infection risk, surgeon training and proficiency, chronic disease prevalence.
The minimally invasive surgery market size is expected to see strong growth in the next few years. It will grow to <b>$90.72 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. </b> The growth in the forecast period can be attributed to government initiatives, aging population, remote surgery, lower infection risk, patient-centric care. Major trends in the forecast period include virtual reality (vr) training, artificial intelligence (ai)-assisted surgery, nanotechnology, 3d printing, data security.
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Segmentation & Regional Insights
The minimally invasive surgery market covered in this report is segmented –
1) By Device: Handheld Instruments, Inflation Devices, Cutter Instruments, Guiding Devices, Electrosurgical Devices, Auxiliary Devices, Monitoring And Visualization Devices
2) By Product: Surgical Devices, Laparoscopy Devices, Monitoring And Visualization Devices
3) By Application: Cardiac, Gastrointestinal, Orthopedic, Vascular, Gynecological, Urological, Cosmetic, Dental
4) By End-User: Hospitals And Specialty Clinics, Ambulatory Surgery Centers
<b>North America</b> was the largest region in the minimally invasive surgery market in 2023. The regions covered in the minimally invasive surgery market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increase in prevalence of chronic diseases is expected to propel the demand for minimally invasive surgery market. Chronic diseases are long-lasting sickness that often cannot be healed; however it is occasionally curable and controllable. The changing lifestyle, eating habits, and not maintaining body weight are the reason for chronic conditions; a few more prolonged chronic infections lead to cancerous risk. Growing exposure to this disease arises the need for minimally invasive surgery for patient that includes patients benefit from less post – operative pain, fewer complications, a shorter hospital stay, faster recovery times, less scarring, and lesser stress to immune system.For instance, in January 2023, according to a report published by the National Library of Medicine, a US-based agency, the number of individuals aged 50 years and older having one or more chronic illnesses is projected to rise by 99.5%, reaching 142.66 million by 2050, up from 71.522 million in 2020 in the United States. Therefore, increasing prevalence of chronic diseases is driving the growth of minimally invasive surgery market.
Key Industry Players
Major companies operating in the minimally invasive surgery market include <b> Arthrex Inc., B. Braun Melsungen AG, Intuitive Surgical Inc., Medtronic Inc., OmniGuide Inc., Olympus Corporation, GE Healthcare, Siemens Healthineers, Smith & Nephew, Johnson & Johnson Ltd., Stryker Corporation, Boston Scientific Corporation, Abbott Laboratories, Koninklijke Philips N.V., Applied Medical Resources Corporation, KLS Martin Group, Scanlan International Inc., Wexler Surgical, STRAUSS SURGICAL, AMNOTEC International Medical GmbH, EndoMed Systems GmbH, TROKAMED GmbH, Surgical Holdings Ltd., Ethicon Inc., DePuy Synthes, NuVasive Inc., Zimmer Biomet Holdings Inc., Renishaw plc, CONMED Corporation, Bedfordshire Hospitals NHS Foundation Trust, Circle Health Ltd., Manipal Health Enterprises Pvt. Ltd., Singapore General Hospital Ltd., The General Hospital Corporation, Karl Storz SE & Co. KG, Becton Dickinson and Company, Applied Medical Resources Corporation, LiNA Medical, HOYA Corporation, Steris Corporation </b>
The minimally invasive surgery market report table of contents includes:
1. Executive Summary
2. Minimally Invasive Surgery Market Characteristics
3. Minimally Invasive Surgery Market Trends And Strategies
4. Minimally Invasive Surgery Market – Macro Economic Scenario
5. Global Minimally Invasive Surgery Market Size and Growth
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31. Global Minimally Invasive Surgery Market Competitive Benchmarking
32. Global Minimally Invasive Surgery Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Minimally Invasive Surgery Market
34. Minimally Invasive Surgery Market Future Outlook and Potential Analysis
35. Appendix
Top Major Players:
Arthrex Inc
B. Braun Melsungen AG
Medtronic Inc
OmniGuide Inc
Olympus Corporation
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