The global minimally invasive surgery market size is estimated to be USD 21.2 billion in 2021 and is expected to witness a CAGR of 8.98% during the forecast period. Benefits of minimally invasive surgeries over traditional open surgeries is a key driver for the growth of the global minimally invasive surgery market. Additionally, increase in number of surgeries, growing incidence of road accidents, and rising incidence of target diseases such as diphtheria & poliomyelitis are some other drivers propelling the market growth. Nevertheless, presence of an ambiguous regulatory framework in the global medical device industry and limited repayment for surgical products are expected to restrain the global market growth.
Based on product, the market is segmented into inflation devices, handheld instruments, cutting instruments, guiding devices, electrosurgical & electrocautery instruments, surgical scopes, and other instruments. In 2021, the handheld instruments segment accounted for a substantial revenue share and is expected to grow with a lucrative CAGR during the forecast period. This is attributed to the growth in surgical procedures and development of high-dexterity worldwide. Guiding devices segment is expected to grow at a profitable CAGR during the forecast period. This is attributed to rising demand for minimally invasive surgeries for the treatment of target diseases.
Based on type of surgery, the market is categorized into cardiothoracic, orthopedic, gastrointestinal, cosmetic & bariatric, gynecological, urological, and other surgeries. In 2021, the cardiothoracic surgery segment accounted for a significant revenue share due to the rising prevalence of cardiac diseases, growing awareness about the health benefits of early detection of cardiovascular complications worldwide. The orthopedic surgery segment is anticipated to grow at a substantial CAGR during the forecast period due to the high funding in R&D by biopharmaceutical companies and growing adoption of MIS instruments owing to their ease of use and better results.
Based on end use, the market is categorized into hospitals and ambulatory surgical centers & clinics. The hospitals segment accounted for the highest revenue in 2021 and is projected to maintain its dominance over the forecast period. Increase in minimally invasive surgical procedures performed in hospitals owing to the presence of highly skilled healthcare professionals is a key factor driving the segment growth. The ambulatory surgery centers & clinics segment is anticipated to grow at a significant CAGR during the forecast period due to increasing coverage, services, and growing expenditure by public and private players in the market.
In 2021, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the high number of surgical procedures being performed in North America as a result of early diagnosis and better care facilities along with high cost of procedures. Additionally, advanced healthcare infrastructure and access to modern healthcare services are driving the market growth of this region. Asia Pacific market is projected to exhibit the fastest CAGR over the forecast period owing to the presence of a large patient base undergoing surgical treatments, market penetration by leading medical device manufacturers, growing awareness for quality healthcare services, and increase in investments due to improved medical facilities in this region.Some of the key players in the minimally invasive surgery market are Medtronic plc (Ireland); B. Braun Melsungen AG (Germany); Johnson & Johnson (U.S.); Stryker Corporation (U.S.); Boston Scientific Corporation (U.S.); Smith & Nephew plc (U.S.); CONMED Corporation (U.S.); HOYA Corporation (Japan); The Cooper Companies, Inc. (U.S.); Applied Medical Resources Corporation (U.S.); Tecomet, Inc. (U.S.); Zimmer Biomet Holdings, Inc. (U.S.); and Surgical Innovations Group plc (U.K.). The leading players operating in the minimally invasive surgery industry are adopting various strategies including R&D investments, adoption of advanced techniques, new product launches, mergers & acquisitions, and regional expansions to capture a maximum revenue share.This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029. The minimally invasive surgery market report is categorized into the following segments and subsegments:
By Product
Based on product, the market is segmented into inflation devices, handheld instruments, cutting instruments, guiding devices, electrosurgical & electrocautery instruments, surgical scopes, and other instruments. In 2021, the handheld instruments segment accounted for a substantial revenue share and is expected to grow with a lucrative CAGR during the forecast period. This is attributed to the growth in surgical procedures and development of high-dexterity worldwide. Guiding devices segment is expected to grow at a profitable CAGR during the forecast period. This is attributed to rising demand for minimally invasive surgeries for the treatment of target diseases.
By Type of Surgery
Based on type of surgery, the market is categorized into cardiothoracic, orthopedic, gastrointestinal, cosmetic & bariatric, gynecological, urological, and other surgeries. In 2021, the cardiothoracic surgery segment accounted for a significant revenue share due to the rising prevalence of cardiac diseases, growing awareness about the health benefits of early detection of cardiovascular complications worldwide. The orthopedic surgery segment is anticipated to grow at a substantial CAGR during the forecast period due to the high funding in R&D by biopharmaceutical companies and growing adoption of MIS instruments owing to their ease of use and better results.
By End Use
Based on end use, the market is categorized into hospitals and ambulatory surgical centers & clinics. The hospitals segment accounted for the highest revenue in 2021 and is projected to maintain its dominance over the forecast period. Increase in minimally invasive surgical procedures performed in hospitals owing to the presence of highly skilled healthcare professionals is a key factor driving the segment growth. The ambulatory surgery centers & clinics segment is anticipated to grow at a significant CAGR during the forecast period due to increasing coverage, services, and growing expenditure by public and private players in the market.
Regional Insights
In 2021, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the high number of surgical procedures being performed in North America as a result of early diagnosis and better care facilities along with high cost of procedures. Additionally, advanced healthcare infrastructure and access to modern healthcare services are driving the market growth of this region. Asia Pacific market is projected to exhibit the fastest CAGR over the forecast period owing to the presence of a large patient base undergoing surgical treatments, market penetration by leading medical device manufacturers, growing awareness for quality healthcare services, and increase in investments due to improved medical facilities in this region.Some of the key players in the minimally invasive surgery market are Medtronic plc (Ireland); B. Braun Melsungen AG (Germany); Johnson & Johnson (U.S.); Stryker Corporation (U.S.); Boston Scientific Corporation (U.S.); Smith & Nephew plc (U.S.); CONMED Corporation (U.S.); HOYA Corporation (Japan); The Cooper Companies, Inc. (U.S.); Applied Medical Resources Corporation (U.S.); Tecomet, Inc. (U.S.); Zimmer Biomet Holdings, Inc. (U.S.); and Surgical Innovations Group plc (U.K.). The leading players operating in the minimally invasive surgery industry are adopting various strategies including R&D investments, adoption of advanced techniques, new product launches, mergers & acquisitions, and regional expansions to capture a maximum revenue share.This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029. The minimally invasive surgery market report is categorized into the following segments and subsegments:
Minimally Invasive Surgery Market, By Product (Revenue, USD Billion, 2021 - 2029)
Inflation Devices
- Balloons
- Balloon Inflation Devices
Handheld Instruments
- Graspers
- Retractors/Elevators
- Suturing Instruments
- Dilators
Cutting Instruments
- Trocars
- Other Cutting Instruments
Guiding Devices
- Guiding Catheters
- Guidewires
Electrosurgical & Electrocautery Instruments
- Electrosurgical Instruments
- Electrocautery Devices
- Surgical Scopes
- Other Instruments
Minimally Invasive Surgery Market, By Type of Surgery (Revenue, USD Billion, 2021 - 2029)
- Cardiothoracic Surgery
- Orthopedic Surgery
- Gastrointestinal Surgery
- Cosmetic & Bariatric Surgery
- Gynecological Surgery
- Urological Surgery
- Other Surgeries
Minimally Invasive Surgery Market, By End Use (Revenue, USD Billion, 2021 - 2029)
- Hospitals
- Ambulatory Surgery Centers & Clinics
Minimally Invasive Surgery Market, By Region (Revenue, USD Billion, 2021 - 2029)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Russia
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of MEA
Table of Contents
1. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Market Environment Analysis
6. COVID-19 Impact Analysis: Minimally Invasive Surgery Market
7. Market Analysis by Product
8. Market Analysis by Surgery Type
9. Market Analysis by End User
10. Regional Market Analysis
11. North America Minimally Invasive Surgery Market
12. Europe Minimally Invasive Surgery Market
13. Asia Pacific Minimally Invasive Surgery Market
14. Latin America Minimally Invasive Surgery Market
15. MEA Minimally Invasive Surgery Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
A selection of companies mentioned in this report includes:
- Medtronic plc (Ireland)
- B. Braun Melsungen AG (Germany)
- Johnson & Johnson (U.S.)
- Stryker Corporation (U.S.)
- Boston Scientific Corporation (U.S.)
- Smith & Nephew plc (U.S.)
- CONMED Corporation (U.S.)
- HOYA Corporation (Japan)
- The Cooper Companies Inc. (U.S.)
- Applied Medical Resources Corporation (U.S.)
- Tecomet Inc. (U.S.)
- Zimmer Biomet Holdings Inc. (U.S.)
- Surgical Innovations Group plc (U.K.)
