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European Markets for Minimally Invasive Surgical Devices
Frost & Sullivan, Aug 2007, Pages: 110
This Frost & Sullivan research service titled European Markets for Minimally Invasive Surgical Devices offers an overview of the advances in minimally invasive surgical technologies. Revenues of select product segments, along with an exhaustive analysis of key market drivers, restraints and trends, are also provided. In this research service, Frost & Sullivan's expert analysts offer an in-dept examination of both traditional as well as emergent minimally invasive surgical devices.
Multiple Advantages Underline the Rising Popularity of Minimally Invasive Surgeries
Minimally invasive surgical procedures involve small incisions, through which cameras and instruments such as endoscopes enter and perform the surgery from within a body cavity. Such procedures offer numerous advantages over traditional, open surgical techniques. Major benefits of minimally invasive surgeries include cosmetic results that are typically superior to those achieved in open traditional procedures, reduced post-operative pain and faster recovery rates.
Due to these multiple advantages, such surgeries are being performed across an ever-widening roster of specialties. 'Minimally invasive surgical techniques are being employed across various specialties; however, there is still scope for their expansion,' says the analyst of this research. 'Companies can focus on increasing the application of such procedures within specialties or in new areas where such procedures have not yet been performed.' The rising number of minimally invasive surgeries is having a positive ripple effect on the demand for related devices.
Technological Advances Support Market Expansion
Companies have increasingly been investing in R&D, resulting in the introduction of technologically advanced products at regular intervals. This trend has boosted patients' acceptance of minimally invasive surgical techniques, while facilitating market expansion. Initially, for instance, the performance of video endoscopies was limited due to high costs. However, the scenario has changed owing to the better quality of pictures produced. Consequently, usage levels of video endoscopes has risen, augmenting revenues in this product segment.
Technological improvements are particularly significant in the mature endoscopes market. Companies that provide sophisticated technology enjoy a competitive edge. Allied to this is the need to develop a broad product line, which can be offered to cost-conscious hospitals at competitive prices. In Germany, the DRG system encourages hospital authorities to purchase from manufacturers that offer a ‘one-stop shop’ facility. Hence, companies that offer an extensive range of products will gain a competitive edge.
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