Minimally Invasive Surgery Devices Market Outlook (2024-2033)

The Minimal Invasive Surgery Devices Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Minimal Invasive Surgery Devices Global Market Report 2024, The minimal invasive surgery devices market size has grown rapidly in recent years. It will grow from $36.6 billion in 2023 to $40.42 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%.  The  growth in the historic period can be attributed to rising prevalence of chronic diseases, growing geriatric population, rising prevalence of obesity, growing demand for natural orifice transluminal endoscopic surgery.

The minimal invasive surgery devices market size is expected to see rapidly grown in the next few years. It will grow to $59.17 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%.  The growth in the forecast period can be attributed to global expansion of healthcare, growing trend of patient-centric care, patient demand for less invasive procedures, surgeon training and experience. Major trends in the forecast period include robotics and ai integration, remote surgery and telesurgery, single-incision surgery, natural orifice surgery, 3d printing and custom devices, .

The increasing awareness for minimally invasive surgeries among people is driving the minimally invasive surgery devices market. The minimally invasive surgeries require less/tiny cuts in the skin as compared to traditional surgical methods and aid in lesser pain, short hospital stay, less scarring, minimized chances of bleeding and infections, and low tissue damage. According to the German Heart Surgery Report, the heart operations using ECC (extracorporeal circulation) declined due to achievement of established innovations in minimally invasive therapeutic options in heart surgeries. Furthermore, 51.1% of heart valve operations performed out of the total cardiac surgical procedures in Germany were through the single-valve procedure, out of which 38.5% of them were through minimal invasive heart surgeries. Thus, the growing demand for minimally invasive surgery (MIS) will increase the demand for the minimally invasive surgical devices market.

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The minimal invasive surgery devices market covered in this report is segmented –

1) By Product Type: Handheld Instruments, Inflation Devices, Cutter Instruments, Guiding Devices, Electrosurgical Devices, Auxiliary Devices, Monitoring & Visualization Devices
2) By Application: Laparoscopy, Cardiovascular, Cosmetic Surgery, Orthopedic Surgery, Obstetrics And Gynecology, Ophthalmology, Neurosurgery, Urology, Other Applications
3) By End Users: Hospitals, Ambulatory Surgical Centers (ASCS), Research Institutes

Technological advancement is a key trend gaining popularity in the mining and oil and gas field machinery manufacturing markets. Major companies operating in mining and oil and gas field machinery manufacturing are focused on developing innovative solutions to strengthen their position in the market. For instance, in September 2021, Komatsu Mining Corp., a US-based manufacturer and servicer of heavy equipment, introduced Joy 02ESV scoops equipped with OptiDrive technology. It is a true utility workhorse in soft rock mining and was developed specifically for these next-generation 240-volt machines. This OptiDrive technology is capable of handling multiple tasks, including cleaning, dusting rocks, replenishing supplies, and maintenance. Additionally, OptiDrive can increase motor performance, increase operator productivity, improve reliability, and help lower maintenance costs and is ideal for mining applications.

The minimal invasive surgery devices market report table of contents includes:

1) By Coverage Type: General Liability Insurance, Professional Liability Insurance, Insurance For Directors And Officers
2) By Enterprise Size: Medium-Sized Enterprises, Large Enterprises, Small Enterprises
3) By Application: Commercial, Personal

Technologically advanced minimally invasive surgery (MIS) devices with improvements in image guidance, fiber-optics, mini dental implants, and robotic control systems are increasingly opted by patients to treat medical conditions such as aneurysms, cardiac procedures, dental and spinal procedures. Less-invasive surgical procedures with enhanced capabilities in the areas of imaging, micromachining, robotic equipment and components, software systems, and others are becoming popular in the healthcare industry. For instance, video-assisted thoracoscopic surgery (VATS), is a minimally invasive surgical procedure performed to completely remove an organ of the human body to treat traumatic injury, infection, or cancer in the lungs. VATS is performed using a video camera where a small tube called a thoracoscope to which the camera is connected, is inserted through a small incision between the ribs. Furthermore, imaging technology involved in MIS, virtual reality (VR) is becoming a significant area of development. Other MIS techniques are applied to perform surgeries such as single-site laparoscopic surgery, robotic surgeries, needlescopic surgery, cardiac and spinal surgeries, and others.

The liability insurance carriers market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

Major Players:

• Abbott Laboratories
• GE Healthcare
• Medtronic PLC
• Siemens Healthineers
• Smith & Nephew Plc

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