Minimally Invasive Surgery Market To Reach USD 139.39 Billion By Year 2030

Minimally Invasive Surgery Market - In Depth Analysis by Size Minimally Invasive Surgery Market by Device (Surgical Devices, Monitoring & Visualization Devices, Endoscopy Devices), Surgery Method (Robot-Assisted, Traditional), Type of Surgery (Gastrointestinal, Cardiothoracic, Gynecological, Urological, Orthopedic, Others), End-User (Hospitals, Ambulatory Surgery Centers), and Region Global Market Analysis and Forecast, 2024-2032

Minimally Invasive Surgery

Market Overview:

The Global Minimally Invasive Surgery Market size is expected to grow from USD 57.91 Billion in 2022 to USD 116.24 Billion by 2030, at a CAGR of 9.1 % during the forecast period (2023-2030).

Minimally invasive surgery (MIS) can be dated back to the 1800s and started to become more common as a diagnostic procedure in the 1930s and 1940s. This surgical method started to gain impetus in the mid-1980s attributed to advances in camera and video technology. This offered surgeons precise anatomic details to perform increasingly sophisticated procedures. Surgery that is done by making small incisions or cuts and a few stitches on the body is called minimally invasive surgery.

Top Key Players in the Minimally Invasive Surgery Market:

NuVasive Inc (US), Siemens Healthineers (Germany), Stryker Corporation (US), Teleflex Inc. (US), Intuitive Surgical (US), Beverly Hills Orthopedic Institute (US), Boston Center for Ambulatory Surgery Inc. (US), Weill Cornell Medicine (US), Smart Medical Devices Inc. (US), Taiwan Surgical Corporation (Taiwan), Tissium (France), ZSX Medical LLC (US), Ancillary Advantage Inc. (US). and other major players.

Market Dynamics and Factors for Minimally Invasive Surgery Market:

Drivers:

Rising Number of Individuals Suffering from Cancer

The rise in the number of individuals suffering from cancer and cardiovascular diseases is the main factor promoting the expansion of the minimally invasive surgery market during the forecast period. Scars from minimally invasive surgery are smaller than those from traditional open surgery. In laparoscopy, one incision is done in the belly button and one to three others in the lower belly. The hospital stay period is gradually reduced and it decreases the risk of problems such as blood clots or infection post-surgery thus, supporting the development of a minimally invasive surgery market over the projected period.

Opportunities:

The Investments Made by Several Governments and Private Organizations to Develop Novel Surgery Methods

The investments made by several governments and private organizations to develop novel surgery methods that can reduce the risk associated with traditional open surgery methods are creating a lucrative opportunity for the market players. The trend is set to see an upsurge in demand as individuals are becoming aware of the advantages of minimally invasive surgery methods such as quick recovery time, and less blood loss. Moreover, the rise in the population opting for minimally invasive surgical procedures and the adoption of these techniques by several healthcare providers is generating profitable opportunities for the market players involved in the minimally invasive surgery market.

Segmentation Analysis of the Minimally Invasive Surgery Market:

By device, the surgical device segment is expected to dominate the market. Surgical devices play an important part in minimally invasive surgery procedures thus, driving the growth of the segment.

By surgery method, the traditional segment is expected to dominate the market. The traditional method requires less training period and can be easily administered by medical professionals thus, supporting the development of this segment.

Regional Analysis of the Minimally Invasive Surgery Market:

North America is expected to dominate the market during the forecast period. The technological advancements and presence of major service providers in this region are the major factors supporting the growth of the market in this region. The USA and Canada are the prominent countries fueling the expansion of the market in this region. Moreover, the healthcare sector in the United States and Canada is highly developed.

Key Industry Development:

In September 2021, Teleflex Incorporated announced that two new UroLift System products, the UroLift Advanced Tissue Control (ATC) System and the UroLift 2 System will be launched at the American Urological Association (AUA) 2021 Annual Meeting. These two new products are built on the highly successful UroLift System. The UroLift ATC System features an enhanced delivery device tip designed to make it easier for urologists to treat BPH patients with minimally invasive procedures.

In March 2021, NuVasive, Inc., the leader in providing minimally invasive surgery solutions for spine surgery, announced the continuation of the partnership with the International Spine Study Group Foundation (ISSGF). This partnership will be focused on evaluating complex adult spinal deformities treated with minimally invasive surgery for 10 years.

Posted by  Samadhan Gaikwad
Expert market research and consulting to drive business decisions, growth, and strategic insights.

Dedicated and insightful Market Research Analyst with a year of comprehensive experience across diverse sectors such as Healthcare, Food and Beverages, Animal Science, Agricultural industry, Electronics and Semiconductors, Chemicals, Services, and Automotive industries. Successfully managed over 30 projects employing rigorous research methodologies. Proficient in creating compelling business proposals, case studies, and business models for client-sponsored studies. Proven expertise in identifying market gaps and opportunities for global corporations. Skillful at data-driven interpretation, utilizing analytical tools including SWOT, PESTEL, PORTER's Five Forces, Ecosystem, and consumer analytics. Known for delivering results and offering strategic recommendations to drive business success.