The COVID-19 pandemic has had ramifications on various surgical procedures, including minimally invasive procedures. Due to the lockdown restrictions, a delay in diagnosis and treatments was observed in patients with various lifestyle-related and chronic diseases as a result of a reduction in hospital visits, which impacted the studied market. Patients were also avoiding visiting medical facilities that may be considered a potential source of infections, which also contributed to the delay in spinal surgeries, thereby impacting the minimally invasive devices in the region. In Europe, the rising cases of COVID-19 are expected to have a significant short-term negative impact on the medical aesthetics market. However, the adverse impacts of COVID-19 on the European economy can have significant indirect effects on the market. For instance, in February 2021, Central European authorities warned that they are witnessing increased COVID-19 infections across their region amid the discovery of new variants. However, the market showed significant traction within a few months, as the reduction in COVID-19 cases was reported due to the growing demand for minimally invasive surgical procedures in the region.
The major factors for the growth of the Europe minimally-invasive surgery devices market include the increasing prevalence of lifestyle-related and chronic disorders, technological advancements, and a higher acceptance rate of minimally-invasive surgeries over traditional surgeries.
Moreover, over the past decade, there has been a rise in the prevalence of several chronic diseases that need minimally invasive surgeries. Some of the major chronic diseases include cancer, kidney failure, and heart disease, among others, which are prevalent within the European region. For instance, as per the article published in Nature Reviews Cardiology in September 2021, cardiovascular disease (CVD) remained the most common cause of death in the European region. More than 60 million potential years of lives are lost to CVD in Europe annually. Similarly, as per GLOBOCAN data updated in 2020, there were 4.40 million new cancer cases in 2020, which is expected to increase and reach 5.53 million cases by 2040. Such an increase in the patient population is ultimately boosting the growth of surgeries within the region to avoid severe fatalities, thereby driving the demand for minimally invasive devices market over the forecast period.
Also, the European region witnessed a high proportion of the geriatric population. The population aged 65 and above is highly prone to various chronic diseases. For instance, according to the United Nations Population Fund's Statistics 2021, Italy has approximately 23.8% of the population aged 65 and above. Thus, the increasing aging population is prone to chronic diseases. As a result, these chronic diseases lead to a need for surgical procedures, which then lead to a surge in demand for minimally invasive devices driving the growth of the market over the forecast period.
Thus, due to the aforementioned reasons, the market is expected to show significant growth over the forecast period. However, the shortage of experienced professionals issues may slow down market growth.
Europe Minimally Invasive Devices Market Trends
Gastrointestinal Segment is Expected to be the Fastest Growing Segment Over the Forecast PeriodThe gastrointestinal segment is expected to show growth over the forecast period due to the rising incidence of gastrointestinal diseases in the geriatric, young, and adult groups of the population. Dyspepsia, irritable bowel syndrome, and constipation are some examples of gastrointestinal disorders.
A gastroesophageal reflux disease is also a prevalent form of organic gastrointestinal disorder. The high burden of gastrointestinal diseases is the major factor driving the segment's growth. For instance, as per data from a new pan-European study on the burden of digestive diseases presented at UEG Week 2022, the report identified that digestive diseases affect over 300 million people across Europe and the Mediterranean. The incidence and prevalence of many digestive diseases are highest amongst the very young and the elderly, and as the European population ages, this disease burden will inevitably increase. Thus, the high burden of IBS is expected to drive the growth of the gastrointestinal segment.
Further, the high prevalence of cancer-related to the gastrointestinal tract, such as colon and rectal cancers, is expected to drive the demand for minimally invasive procedures, augmenting the market growth over the forecast period. For instance, as per the GLOBOCAN's estimates in 2020, there were 325,000 new cases of colon cancer and 182,000 new cases of rectum cancer in Europe 2020, these cases are expected to increase and reach up to 414,000 and 223,000, respectively, by 2040, and in recent years, minimally invasive surgeries such as laparoscopic or robot surgery have become the predominant treatment option for colon cancer, which is expected to boost the market.
Thus, the segment is anticipated to witness significant growth over the forecast period due to the abovementioned factors.
The United Kingdom is Expected to Hold a Significant Share in the Europe Minimally Invasive Device During Forecast PeriodThe United Kingdom is one of the major economies in the European region, with high healthcare expenditure and a technologically advanced healthcare system. The growing burden of chronic diseases, along with the rising geriatric population in the United Kingdom, is likely to lead to increased demand for minimally invasive surgery devices.
The United Kingdom has a high burden of cardiovascular diseases such as congestive heart failure, stroke, heart failure, atrial fibrillation, and other heart patients, which are expected to boost the growth of the market over the forecast period. For instance, according to the British Heart Foundation (BHF) 2022 Factsheet, as of August 2022, around 7.4 million people were living with heart and circulatory diseases in the United Kingdom, which is expected to drive market growth as this will increase the use of minimally invasive surgical devices in the management of the diseases as it is more preferential for the treatment of various CVDs.
Additionally, in September 2021, according to the BHF, more than 7 million people lived with cardiovascular diseases, and about 152,465 were mortalities due to cardiovascular diseases. Thus, all these factors are increasing the demand for minimally invasive surgery devices, which is driving the growth of the market.
The number of hospitals and surgical centers is increasing in both developed and emerging countries. The demand for surgical equipment such as MIS is increasing owing to the increasing patient population base undergoing surgeries in the United Kingdom. For instance, in October 2021, the Prime Minister of the United Kingdom initiated a plan to invest USD 4.3 billion in 40 hospitals and certain schemes for future funding for 48 hospitals by 2030.
Thus, owing to the above-mentioned factors, it is expected to show significant growth over the forecast period.
Europe Minimally Invasive Devices Market Competitor AnalysisEurope's minimally invasive surgery devices market is moderately competitive, owing to a few key players in the market. Some of the market players are Abbott Laboratories, GE Healthcare, Intuitive Surgical Inc., Koninklijke Philips NV, Medtronic PLC, Olympus Corporation, Siemens Healthineers, Smith & Nephew, Stryker Corporation, and Zimmer Biomet.
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Table of Contents
1.2 Scope of the Study
4.2 Market Drivers
4.2.1 Increasing Prevalence of Lifestyle-related and Chronic Disorders
4.2.2 Higher Acceptance Rate of Minimally Invasive Surgeries Over Traditional Surgeries
4.2.3 Technological Advancements in Minimally Invasive Devices
4.3 Market Restraints
4.3.1 Shortage of Experienced Professionals
4.4 Porter Five Forces
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.1 Handheld Instruments
5.1.2 Guiding Devices
5.1.3 Electrosurgical Devices
5.1.4 Endoscopic Devices
5.1.5 Laproscopic Devices
5.1.6 Monitoring and Visualization Devices
5.1.7 Robotic Assisted Surgical Systems
5.1.8 Ablation Devices
5.1.9 Laser Based Devices
5.1.10 Other MIS Devices
5.2 By Application
5.2.6 Other Applications
5.5 United Kingdom
5.9 Rest of Europe
6.1.2 Olympus Corporation
6.1.3 Siemens Healthineers
6.1.4 Koninklijke Philips NV
6.1.5 General Electric Company (GE Healthcare)
6.1.6 Abbott Laboratories
6.1.7 Intuitive Surgical Inc
6.1.8 Smith & Nephew
6.1.9 Stryker Corporation
6.1.10 Zimmer Biomet
A selection of companies mentioned in this report includes:
- Olympus Corporation
- Siemens Healthineers
- Koninklijke Philips NV
- General Electric Company (GE Healthcare)
- Abbott Laboratories
- Intuitive Surgical Inc
- Smith & Nephew
- Stryker Corporation
- Zimmer Biomet