Market Overview:
Minimally Invasive Surgical Instruments Market was valued at USD 18940 million in 2021 and is expected to reach USD 31630 million by the year 2028, at a CAGR of 7.6 %.
Minimally invasive surgical instruments are used to make small incisions in the body, allowing access to the desired body cavity. Materials commonly used to make these instruments include stainless steel, titanium, tantalum, platinum and palladium. Minimally invasive procedures use various instruments with specific functions, such as endodontics, trocars, electrosurgical tools, cutting machines and laparoscopic instruments. Endo staplers, either manual or electronic, allow simultaneous cutting and stapling. Trocars are entry points for laparoscopic instruments and are also used for insufflation or removal of specimens. Laparoscopic instruments perform a variety of tasks, including grasping, retracting, cutting, cauterizing and more.
Top Key Players for Minimally Invasive Surgical Instruments Market:
- Medtronic plc (Ireland)
- Johnson & Johnson (US)
- Stryker Corporation (US)
- Abbott Laboratories Inc. (US)
- CONMED Corporation (US)
- Smith & Nephew plc (UK)
- Dickinson and Company (US)
- The Cooper Companies Inc. (US)
- HOYA Corporation (Japan)
- FUJIFILM Holdings Corporation (Japan)
- KLS Martin Group (Germany)
- Scanlan International Inc. (US)
- Wexler Surgical (US)
- STRAUSS SURGICAL (US)
- TROKAMED GmbH (Germany) and Other Major Players
Market Dynamics and Factors:
The growing recognition of the benefits of minimally invasive surgical procedures is a key driver for the development of the minimally invasive surgical instruments market. The growing popularity of laparoscopy is due to the various advantages it offers, such as improved surgical outcomes for patients and optimal use of resources in health care. In addition, minimally invasive surgeries offer several advantages over traditional surgical methods, such as reduced postoperative pain, shorter hospital stays, minimal scarring, less tissue damage, and less blood loss during the procedure. A particularly important advantage of minimally invasive surgery is the rapid recovery because the incisions and traumas associated with these procedures heal faster than with open surgeries.
The number of elderly people is increasing, increasing the prevalence of chronic diseases that require surgical treatment. Minimally invasive surgical instruments have made cancer biopsy procedures more convenient. Continuous research and development have led to the development of advanced tools that can shorten the duration of certain surgical procedures. Many healthcare providers are adopting these innovative technologies, creating lucrative opportunities for minimally invasive surgical instrument companies.
Key Industry Development:
In November 2021, Medtronic's PillCam Small Bowel 3 system received FDA clearance for remote endoscopy. The technology, known as PillCam SB3 @HOME, combines Medtronic's PillCam with Amazon Logistics to deliver accurate results to patients in the comfort of their own homes.
In June 2021, Abbott launched the Amplatzer Piccolo Occluder in India, the world's first small medical device for the treatment of ductus arteriosus (PDA) in babies weighing as little as 700 grams. It is smaller than a pea and offers a minimally invasive alternative to risky surgeries for premature babies.
Minimally Invasive Surgical Instruments Market Report Highlight:
- By Instrument Type, the handheld segment is anticipated to dominate the market over forecast period. Handheld minimally invasive surgical instruments are compact and portable tools used in surgeries that require smaller incisions and cause less tissue damage. They are designed to be used manually, allowing surgeons to make precise and controlled movements within the body. These instruments help reduce patient trauma, speed recovery and improve surgical outcomes.
- By Laparoscopic Method, the traditional segment is anticipated to dominate the market over forecast period. Minimally invasive surgical instruments are used in traditional laparoscopic procedures, where they are inserted through small incisions to allow surgeons to perform precise surgical tasks remotely. These instruments help with less trauma, smaller incisions and faster recovery compared to open surgery.
- By Type of Surgery, the orthopedic segment is anticipated to dominate the market over forecast period. Minimally invasive surgery reduces tissue damage during orthopedic procedures, which reduces pain and blood loss. Having demand for knee & hip replacement.
- By End-user, the hospitals segment is expected to dominate the market over forecast period. Minimally invasive surgical instruments are used in hospitals and specialty clinics to perform less invasive procedures, resulting in smaller scars, less pain, faster healing and better surgical results.
- North America region is anticipated to dominate the market over forecast period. The presence of leading companies and advanced instruments in the region is fueling the growth of the minimally invasive surgery market.
Central to our report are the company profiles and competitive analysis, providing insights into market players' overview, market roles, and operating business segments. We evaluate their financial performance, production volume, sales volume, and sales margin while highlighting recent market developments. Our market research offers invaluable intelligence and strategic insights to drive informed decision-making. By capitalizing on emerging opportunities and understanding the competitive landscape, our report empowers businesses to thrive in the Global Minimally Invasive Surgical Instruments Market.
Minimally Invasive Surgical Instruments Market Segmentation:
By Instrument Type
- Handheld Instruments
- Inflation Devices
- Cutter Instruments
- Electrosurgical Devices & Electrocautery Instruments
By Laparoscopic Method
- Robotic
- Traditional
By Type Of Surgery
- Gastrointestinal
- Cardiothoracic
- Gynecological
- Urological
- Orthopedic
By End-User
- Hospitals
- Ambulatory Surgery Centers
For this report, Introspective Market Research has segmented the Minimally Invasive Surgical Instruments Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- US
- Canada
- Mexico
Eastern Europe
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Russia
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Thailand
- Vietnam
- The Philippines
- Australia
- New Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Bahrain
- Kuwait
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
