Minimal Invasive Surgery Devices Global Market Report 2021: COVID-19 Growth And Change To 2030

Minimal Invasive Surgery Devices Global Market Report 2021: COVID-19 Growth And Change To 2030

  • September 2021 •
  • 175 pages •
  • Report ID: 6151606 •
  • Format: PDF
Major players in the minimal invasive surgery devices market are Abbott Laboratories, GE Healthcare, Medtronic PLC, Siemens Healthineers, and Smith & Nephew Plc.

The global minimal invasive surgery devices market is expected to grow from $35.46 billion in 2020 to $38.04 billion in 2021 at a compound annual growth rate (CAGR) of 7.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $50.97 billion in 2025 at a CAGR of 7.6%.

Minimal Invasive Surgery Devices market consists of sales of minimally invasive surgical devices and related services.The minimally invasive surgery devices are used to minimize the surgical incisions and trauma in the body.

The minimally invasive surgical devices include handheld instruments, inflation devices, guiding devices, electrosurgical devices, cutter instruments, auxiliary devices, monitoring & visualization devices. These devices are used in cardiac, gastrointestinal, orthopedic, vascular, gynecological, urological, thoracic, cosmetic, dental and others applications.

The minimal invasive surgery devices market covered in this report is segmented by product type into handheld instruments, inflation devices, cutter instruments, guiding devices, electrosurgical devices, auxiliary devices, monitoring & visualization devices. It is also segmented by application into laparoscopy, cardiovascular, cosmetic surgery, orthopedic surgery, obstetrics and gynecology, ophthalmology, neurosurgery, urology, others and by end users into hospitals, ambulatory surgical centers (ASCs), research institutes.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The rising trade barriers are expected to have a negative impact on the minimally invasive surgery devices market growth.Many countries placed trade restrictions, especially on imports, to boost local production.

For instance, Brexit is likely to lead to more trade restrictions between the UK and other countries in Europe.The US is also implementing several trade restrictions, especially with China, to boost its local production.

For instance, the US government imposed an additional 25% tariff on approximately $16 billion worth of imports from China, including minimally invasive surgical devices and equipment and supplies. These trade restrictions are likely to limit the growth of demand going forward by leading to raised prices.

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), 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 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 increasing awareness for minimal invasive surgeries among the people is driving the minimally invasive surgery devices market.The minimal invasive surgeries require less/tiny cuts in the skin as compared to traditional surgical methods and aid in lesser pain, short hospital stay, less scaring, 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 an 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 single-valve procedure, out of which 38.5% of them were through minimal invasive heart surgeries. Thus, growing demand for minimally invasive surgery (MIS) will increase the demand for minimally invasive surgical devices market.

Food and Drug Administration Act (FDA) regulates the minimally invasive surgical devices market in the United States of America.The firms manufacturing robotic minimally invasive surgical devices have to list down any possible risks to health and measures taken by them so that the device addresses health hazards if any stated by FDA.

In December 2019, FDA released a safety communication, regards the caution when using robotically-assisted minimally invasive surgical devices in women’s health including mastectomy and other cancer-related surgeries. However, the FDA is concerned about the health care providers and patients for not being aware on the safety and effectiveness of these devices as they should not be used in mastectomy procedures or prevention or treatment of cancer.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.