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Minimally-invasive Surgery Devices Market - Growth, Trends, and Forecasts (2020 - 2025)

  • ID: 5175435
  • Report
  • August 2020
  • Region: Global
  • 111 pages
  • Mordor Intelligence
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until Dec 31st 2020
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FEATURED COMPANIES

  • Abbott Laboratories
  • GE Healthcare
  • Intuitive Surgical Inc.
  • Koninklijke Philips NV
  • Medtronic PLC
  • Olympus Corporation
  • MORE
The minimally-invasive surgery devices market is expected to register a CAGR of 8%, over the forecast period. The major factors for the growth of the minimally-invasive surgery devices market include the higher acceptance rate of minimally-invasive surgeries over traditional surgeries, increasing prevalence of lifestyle-related and chronic disorders, and technological advancements.

Minimally-invasive surgeries (MIS) cause less post-operative pain, and hence, patients receive smaller dosages of pain killers. As there are minimal cuts or stitches involved, the hospital stay is relatively shorter, and patients need not visit the hospital frequently. Traditional open surgeries involve long incisions made through the muscles, and these muscles take a considerable amount of time to heal, whereas MIS procedures involve smaller incisions, leading to quicker recovery. In addition, the body scars involved in MIS are barely noticeable. The main advantage of MIS over the traditional open surgeries is the higher precision due to video-assisted equipment, which produces a better and magnified image of the organs or body parts being operated. These surgeries are gaining wider acceptance among the geriatric population, due to the relatively shorter recovery time.

Few organizations, such as the American Association of Gynecologic Laparoscopists (AAGL) and the International Society of Gynecologic Endoscopy (ISGE), are collaborating with healthcare agencies in South Africa, to create awareness about the benefits of MIS, and improve the adoption rate. Thus, owing to the benefits associated with minimally-invasive surgeries, the adoption rate is increasing, which may increase the overall growth of the market over the forecast period.

Key Market Trends

Gastrointestinal Segment, under Application, is expected to be the Fastest Growing Segment over the Forecast Period.

The gastrointestinal segment is expected to be the fastest growing segment, owing to the rising incidence of gastrointestinal diseases in the young, adult, and geriatric groups, worldwide. Dyspepsia, irritable-bowel syndrome, and constipation are some of the examples of gastrointestinal disorders. Gastroesophageal reflux disease is also a prevalent form of the organic gastrointestinal disorder. Minimally-invasive surgery has gained popularity for benign diseases, and has proved its safety and efficacy over traditional methods, owing to which, it has gained substantial attention in the past several years. According to the data published by Centers for Disease Control and Prevention (CDC, 2018), there were 32.3 million of visits to physician offices, with diseases of the digestive system as the primary diagnosis in the United States. With the increase in the government’s continuous effort to improve the health of people, the number of gastrointestinal surgeries is bound to rise, which, in turn, may improve the scope for minimally-invasive devices meant for gastrointestinal surgery.

North America accounted for the Largest Share in the Global Market

North America held a major share for the minimally-invasive surgery devices market, and is expected to show a similar trend over the forecast period, without significant fluctuations. North America is anticipated to dominate the minimally-invasive neurosurgery devices market, globally. The factors attributed to the high growth of the region are the increasing number of neurological disorders and the growing adoption of minimally-invasive surgeries in the region. Neurosurgery and skull-based surgery are undergoing a paradigm shift. The physicians are using endoscopic techniques to visualize and excise lesions that were previously addressed through large, open surgeries. The advantages of minimally-invasive surgeries, such as less invasiveness, quick recovery time of patients, and low-cost of treatment, have augmented the demand for minimally-invasive neurosurgery devices in the region. Furthermore, advancements in various surgical devices from established key players, in the United States, are likely to drive the market growth in North America.

Competitive Landscape

The market studied is moderately consolidated, owing to the presence of a few key players in the market. The companies are focusing on the technological advancement of devices, in order to gain significant market share. 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.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Abbott Laboratories
  • GE Healthcare
  • Intuitive Surgical Inc.
  • Koninklijke Philips NV
  • Medtronic PLC
  • Olympus Corporation
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Higher Acceptance Rate of Minimally-invasive Surgeries over Traditional Surgeries
4.2.2 Increasing Prevalence of Lifestyle-related and Chronic Disorders
4.2.3 Technological Advancements
4.3 Market Restraints
4.3.1 Shortage of Experienced Professionals
4.3.2 Uncertain Regulatory Framework
4.4 Porter's Five Forces Analysis
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 MARKET SEGMENTATION
5.1 By Products
5.1.1 Handheld Instruments
5.1.2 Guiding Devices
5.1.2.1 Guiding Catheters
5.1.2.2 Guidewires
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
5.2.1 Aesthetic
5.2.2 Cardiovascular
5.2.3 Gastrointestinal
5.2.4 Gynecological
5.2.5 Orthopedic
5.2.6 Urological
5.2.7 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East & Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East & Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 GE Healthcare
6.1.3 Intuitive Surgical Inc.
6.1.4 Koninklijke Philips NV
6.1.5 Medtronic PLC
6.1.6 Olympus Corporation
6.1.7 Siemens Healthineers
6.1.8 Smith & Nephew
6.1.9 Stryker Corporation
6.1.10 Zimmer Biomet

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
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  • Abbott Laboratories
  • GE Healthcare
  • Intuitive Surgical Inc.
  • Koninklijke Philips NV
  • Medtronic PLC
  • Olympus Corporation
  • Siemens Healthineers
  • Smith & Nephew
  • Stryker Corporation
  • Zimmer Biomet
Note: Product cover images may vary from those shown
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