The global minimally invasive surgical instruments market size was estimated to be USD 31.72 billion in 2023 and is expected to reach at USD 95.70 billion by 2034 with a CAGR of 10.56% during the forecast period 2024-2034. Rising utilization of surgical robots in minimally invasive surgeries (MIS) among surgeons, a growing array of newly launched products, increasing approvals for such products, a surge in demand for minimally invasive procedures, a rise in orthopedic surgeries due to increased road accidents, an escalating prevalence of specific diseases, the continuous introduction of innovative MIS products, and ongoing technological advancements in minimally invasive surgical instruments are some of the key factors boosting the market growth.
Ongoing technological advancements in minimally invasive surgical instruments is predicted to boost the market growth during the forecast period. Continuous efforts by market players to enhance and release advanced devices are driven by technological improvements in minimally invasive surgery (MIS) instruments, aiming to provide accuracy, portability, and cost-effectiveness. The creation of innovative MIS instruments has enabled the execution of intricate procedures that were previously deemed unsuitable for minimally invasive techniques. Consequently, the anticipated introduction of new MIS products is expected to contribute to the growth of the market. For instance, in December 2022, Abbott has introduced Navitor, an innovative system for transcatheter aortic valve implantation, with extensive applications in the treatment of aortic stenosis.
By device, handheld instruments was the highest revenue-grossing segment in the global minimally invasive surgical instruments market in 2023 owing to the use of handheld instruments in minimally invasive surgery contributes to accelerated patient recovery by minimizing damage to surrounding tissues, consequently reducing discomfort and other undesirable effects, rising demand of minimally invasive surgery handheld instruments designed for single-use, increase in demand for handheld instruments, and numerous companies are introducing a variety of handheld instruments. For instance, in September 2022, Zimmer Biomet Holdings, Inc. has revealed an exclusive, multi-year co-marketing arrangement with Surgical Planning Associates, Inc. to promote HipInsight, the initial FDA-cleared mixed reality navigation system designed for total hip replacement. Additionally, monitoring & visualization devices is predicted to grow at fastest CAGR during the forecast period owing to the continuous progress in technology for robotic-assisted surgery, a rise in the number of approvals, and an increase in the introduction of advanced devices.
By application, orthopedics was the highest revenue-grossing segment in the global minimally invasive surgical instruments market in 2023. Minimally invasive surgery is commonly employed for knee and hip replacement procedures. Hospitals and surgeons favor surgical approaches with fewer operative and postoperative complications, leading to shorter hospitalization periods. Simultaneously, patients are inclined towards surgical treatments that minimize trauma & promote swift recovery and rising introduction of advanced products. For instance, in August 2023, Orthofix Medical Inc., a prominent global company specializing in spine and orthopedics, has officially launched and successfully performed initial cases in the United States utilizing the 7D FLASH Navigation System Percutaneous Module 2.0. Additionally, gastrointestinal is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of stomach cancer, obesity, and type 2 diabetes mellitus. Stomach cancer has the highest mortality rate in numerous countries. Surgical intervention plays a crucial role in mitigating the morbidity and mortality associated with severe obesity, contributing to an enhanced quality of life.
By end-user, hospitals & clinics was the highest revenue-grossing segment in the global minimally invasive surgical instruments market in 2023 owing to increase in the prevalence of chronic disorders among the elderly population, rise in the number of hospital admissions for the treatment of chronic ailments, and growing launch of advanced products. For instance, in January 2023, PENTAX Medical has received CE marks for both its PENTAX Medical INSPIRA, the latest premium video processor, and the i20c video endoscope series. The new video processor remains compatible with recent endoscope models from PENTAX Medical and establishes new benchmarks through the introduction of the i20c video endoscope generation. Additionally, ambulatory surgical centers is predicted to grow at fastest CAGR during the forecast period owing to the availability of reimbursement policies for ambulatory surgical procedures.
North America region is anticipated for the highest revenue share during the forecast period owing to the existence of robust healthcare infrastructure, increasing support from government reimbursement policies, a high incidence of chronic diseases, and expanding collaborations among market players. For instance, in February 2023, Encision Inc. has entered into a Proof-of-Concept Services Agreement with Vicarious Surgical Inc. The design of the Vicarious surgical robot aims to enhance the precision, control, and visualization of instruments used in minimally invasive surgery assisted by robots. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing advancements in healthcare infrastructure, expanding government initiatives, a heightened demand for cost-effective treatment alternatives, and increase in the introduction of cutting-edge medical devices. For instance, in December 2022, Abbott has unveiled the introduction of its minimally invasive Transcatheter Aortic Valve Implantation (TAVI) devices for heart valve treatment, now available throughout India.
Ongoing technological advancements in minimally invasive surgical instruments is predicted to boost the market growth during the forecast period. Continuous efforts by market players to enhance and release advanced devices are driven by technological improvements in minimally invasive surgery (MIS) instruments, aiming to provide accuracy, portability, and cost-effectiveness. The creation of innovative MIS instruments has enabled the execution of intricate procedures that were previously deemed unsuitable for minimally invasive techniques. Consequently, the anticipated introduction of new MIS products is expected to contribute to the growth of the market. For instance, in December 2022, Abbott has introduced Navitor, an innovative system for transcatheter aortic valve implantation, with extensive applications in the treatment of aortic stenosis.
By device, handheld instruments was the highest revenue-grossing segment in the global minimally invasive surgical instruments market in 2023 owing to the use of handheld instruments in minimally invasive surgery contributes to accelerated patient recovery by minimizing damage to surrounding tissues, consequently reducing discomfort and other undesirable effects, rising demand of minimally invasive surgery handheld instruments designed for single-use, increase in demand for handheld instruments, and numerous companies are introducing a variety of handheld instruments. For instance, in September 2022, Zimmer Biomet Holdings, Inc. has revealed an exclusive, multi-year co-marketing arrangement with Surgical Planning Associates, Inc. to promote HipInsight, the initial FDA-cleared mixed reality navigation system designed for total hip replacement. Additionally, monitoring & visualization devices is predicted to grow at fastest CAGR during the forecast period owing to the continuous progress in technology for robotic-assisted surgery, a rise in the number of approvals, and an increase in the introduction of advanced devices.
By application, orthopedics was the highest revenue-grossing segment in the global minimally invasive surgical instruments market in 2023. Minimally invasive surgery is commonly employed for knee and hip replacement procedures. Hospitals and surgeons favor surgical approaches with fewer operative and postoperative complications, leading to shorter hospitalization periods. Simultaneously, patients are inclined towards surgical treatments that minimize trauma & promote swift recovery and rising introduction of advanced products. For instance, in August 2023, Orthofix Medical Inc., a prominent global company specializing in spine and orthopedics, has officially launched and successfully performed initial cases in the United States utilizing the 7D FLASH Navigation System Percutaneous Module 2.0. Additionally, gastrointestinal is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of stomach cancer, obesity, and type 2 diabetes mellitus. Stomach cancer has the highest mortality rate in numerous countries. Surgical intervention plays a crucial role in mitigating the morbidity and mortality associated with severe obesity, contributing to an enhanced quality of life.
By end-user, hospitals & clinics was the highest revenue-grossing segment in the global minimally invasive surgical instruments market in 2023 owing to increase in the prevalence of chronic disorders among the elderly population, rise in the number of hospital admissions for the treatment of chronic ailments, and growing launch of advanced products. For instance, in January 2023, PENTAX Medical has received CE marks for both its PENTAX Medical INSPIRA, the latest premium video processor, and the i20c video endoscope series. The new video processor remains compatible with recent endoscope models from PENTAX Medical and establishes new benchmarks through the introduction of the i20c video endoscope generation. Additionally, ambulatory surgical centers is predicted to grow at fastest CAGR during the forecast period owing to the availability of reimbursement policies for ambulatory surgical procedures.
North America region is anticipated for the highest revenue share during the forecast period owing to the existence of robust healthcare infrastructure, increasing support from government reimbursement policies, a high incidence of chronic diseases, and expanding collaborations among market players. For instance, in February 2023, Encision Inc. has entered into a Proof-of-Concept Services Agreement with Vicarious Surgical Inc. The design of the Vicarious surgical robot aims to enhance the precision, control, and visualization of instruments used in minimally invasive surgery assisted by robots. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing advancements in healthcare infrastructure, expanding government initiatives, a heightened demand for cost-effective treatment alternatives, and increase in the introduction of cutting-edge medical devices. For instance, in December 2022, Abbott has unveiled the introduction of its minimally invasive Transcatheter Aortic Valve Implantation (TAVI) devices for heart valve treatment, now available throughout India.
Segmentation: Minimally Invasive Surgical Instruments Market Report 2023 - 2034
Minimally Invasive Surgical Instruments Market Analysis & Forecast by Device 2023 - 2034 (Revenue USD Bn)
- Monitoring & Visualization Devices
- Electrosurgical Devices
- Handheld Instruments
- Cutter Instruments
- Auxiliary Devices
- Inflation Devices
- Guiding Devices
Minimally Invasive Surgical Instruments Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Gastrointestinal
- Gynecological
- Orthopedic
- Urological
- Cosmetic
- Thoracic
- Vascular
- Cardiac
- Dental
- Others
Minimally Invasive Surgical Instruments Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Ambulatory Surgical Centers
- Hospitals & Clinics
Minimally Invasive Surgical Instruments Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- 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
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Minimally Invasive Surgical Instruments Market: Device Estimates & Trend Analysis
8. Minimally Invasive Surgical Instruments Market: Application Estimates & Trend Analysis
9. Minimally Invasive Surgical Instruments Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Minimally Invasive Surgical Instruments Market
12. Europe Global Minimally Invasive Surgical Instruments Market
13. Asia Pacific Global Minimally Invasive Surgical Instruments Market
14. Latin America Global Minimally Invasive Surgical Instruments Market
15. MEA Global Minimally Invasive Surgical Instruments Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Ethicon Inc. (Johnson & Johnson)
- Siemens Healthineer AG
- Abbott Laboratories
- Intutive Surgical Inc.
- GE Healthcare
- Medtronic
- Nuvasive Inc.
- Zimmer Biomet
- Depuy Synthes
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 31.72 Billion |
| Forecasted Market Value ( USD | $ 95.7 Billion |
| Compound Annual Growth Rate | 10.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
