Global Minimally Invasive Surgery Market Size By Type of Surgery (Laparoscopic Surgery, Robotic Surgery, Endoscopic Surgery, Thoracoscopic Surgery), By Product Type (Surgical Instruments, Robotics Systems, Visualization Systems, Accessories and Consumables), By Application (Gastrointestinal Surgery, Cardiothoracic Surgery, Orthopedic Surgery, Gynecological Surgery), By Geographic Scope And Forecas
Published on: 2024-08-07 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
Global Minimally Invasive Surgery Market Size By Type of Surgery (Laparoscopic Surgery, Robotic Surgery, Endoscopic Surgery, Thoracoscopic Surgery), By Product Type (Surgical Instruments, Robotics Systems, Visualization Systems, Accessories and Consumables), By Application (Gastrointestinal Surgery, Cardiothoracic Surgery, Orthopedic Surgery, Gynecological Surgery), By Geographic Scope And Forecas
Minimally Invasive Surgery (MIS) Market Size And Forecast
Minimally Invasive Surgery Market size was valued at USD 22.4 Billion in 2023 and is projected to reach USD 35.5 Billion by 2031, growing at a CAGR of 10.5% from 2024 to 2031.
- Minimally invasive surgery (MIS) is a surgical method that tries to produce the same results as traditional open surgery but causing much less stress to the body. This method employs small incisions, specialized devices, and advanced technology such as laparoscopes and endoscopes allowing surgeons to observe and operate on interior tissues without the need for big incisions. The primary benefits of MIS are decreased postoperative discomfort, shorter hospital stays, faster healing times, and less scarring.
- This surgery has numerous applications in a variety of medical specialties including general surgery, orthopedics, gynecology, urology, and cardiology. Common treatments performed with MIS techniques include laparoscopic cholecystectomy (gallbladder removal), arthroscopic joint surgeries, laparoscopic hysterectomy, and endoscopic sinus surgery. Continuous developments in surgical equipment and imaging technologies have broadened the possibilities for MIS allowing for increasingly intricate and delicate procedures.
- The future of minimally invasive surgery (MIS) promises to be transformative because of rapid technological improvements and an increasing emphasis on patient-centered care. One of the most notable advancements is the incorporation of robotics and artificial intelligence (AI) into surgical procedures. Robotic-assisted operations are becoming increasingly common providing surgeons with more precision, dexterity, and control all of which are necessary for completing difficult procedures through small incisions.
Global Minimally Invasive Surgery Market Dynamics
The key market dynamics that are shaping the global minimally invasive surgery market include
Key Market Drivers
- Patient Benefits and OutcomesOne of the key reasons for using MIS is that it provides patients with less postoperative pain, a lower risk of infection, shorter hospital stays, and faster recovery times than open operations. These benefits help to increase patient satisfaction and overall outcomes. Patients undergo less trauma to surrounding tissues during treatments such as laparoscopic cholecystectomy (gallbladder removal) or minimally invasive cardiac surgeries resulting in faster recovery and return to normal activities.
- Technological AdvancementsRapid improvements in medical technology have contributed significantly to the growth of MIS. High-definition cameras, miniature surgical instruments, robotic-assisted surgery systems (such as the da Vinci Surgical System), and advanced imaging techniques (such as laparoscopic ultrasound and intraoperative MRI) have allowed surgeons to perform complex procedures more precisely and controllably through small incisions.
- Reduced Healthcare Costs Minimally invasive surgery has shown potential cost reductions for healthcare systems and patients alike. While the initial equipment expenses connected with MIS technology can be high, the eventual cost-effectiveness is demonstrated by shorter hospital stays, less surgical complications, fewer follow-up visits, and faster healing durations. In the long run, these variables contribute to lower healthcare costs and better resource utilization.
Key Challenge
- Technical Expertise and Training RequirementsOne of the key problems of MIS is the high learning curve required to master the requisite techniques and abilities. Surgeons need specific training and skill to maneuver through smaller incisions with endoscopic equipment or robotic devices. Skill and hand-eye coordination in MIS are frequently different from those necessary in regular open surgery.
- Equipment and Instrumentation CostsThe high cost of specialist equipment and instrumentation limits the deployment of MIS. Endoscopic cameras, laparoscopic equipment, robotic systems, and other technological breakthroughs utilized in MIS are costly to acquire, maintain, and upgrade. Hospitals and healthcare facilities must make large efforts to obtain these technology which might strain financial resources.
- Complication Risk and Learning Curve ImpactAlthough MIS has lower complications and faster recovery periods than traditional open surgery, the move is not without dangers. The learning curve associated with implementing MIS procedures might lead to an increase in intraoperative problems such as unintentional organ injury, hemorrhage, or conversion to open surgery. Surgeons beginning their MIS careers may face difficulties in appropriately assessing anatomy and managing unexpected intraoperative findings through small incisions.
Key Trends
- Indication ExpansionOriginally limited to operations such as appendectomies and cholecystectomies, MIS has now grown to include a wide range of surgical specialties. Complex treatments such as minimally invasive heart surgery (MICS), minimally invasive spine surgery, and robotic-assisted gynecological surgeries are already standard practice. The development of specialized devices and techniques targeted to distinct anatomical sites has increased the usefulness of MIS to a wide range of medical disorders.
- Improved Patient OutcomesImproved patient outcomes are a defining feature of MIS and continue to drive adoption. Reduced trauma to surrounding tissues, less postoperative pain, and faster recovery times all contribute to shorter hospital stays and cheaper healthcare expenditures. Compared to open operations, patients who undergo MIS frequently have less scarring and a lower risk of wound infections.
- Training and EducationAs MIS approaches advance, training and education have become major focal points. Surgeons require specific training to master minimally invasive techniques and skillfully manage technological innovations. Simulation-based training programs and virtual reality (VR) simulators are increasingly being used to give surgeons hands-on experience in a controlled environment prior to performing procedures on patients.
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Global Minimally Invasive Surgery Market Regional Analysis
North America
- North America leads the global minimally invasive surgeries (MIS) market which is seeing strong growth due to a number of major drivers. One critical issue is the growing frequency of chronic diseases throughout the region which range from cardiovascular disorders to orthopedic ailments and malignancies. As chronic illnesses become increasingly common, there is a greater desire for improved medical solutions that provide less invasive treatment choices. Minimally invasive operations which have smaller incisions, shorter recovery times, and a lower risk of problems than standard open surgeries are growing popular among both patients and healthcare practitioners.
- The extensive use of minimally invasive operations in North America can be traced to a gradual shift in medical practice and patient preferences. Healthcare systems in the region are increasingly emphasizing the benefits of MIS which include shorter hospital stays, faster recovery times, and better cosmetic outcomes. These benefits not only improve patient satisfaction but also lead to cost savings in the healthcare system.
- Furthermore, advances in surgical instruments, imaging technology, and robotics have greatly increased the scope and precision of MIS treatments making them appropriate for a wider range of medical disorders.
Europe
- The European market for minimally invasive operations is expanding rapidly owing to considerable government backing aimed at promoting wider use throughout the area. European governments are actively encouraging minimally invasive procedures because of its multiple advantages such as faster recovery times, fewer risk of problems, and shorter hospital stays. These methods which use advanced technologies and techniques to perform surgeries through small incisions rather than traditional open surgery are becoming increasingly popular among healthcare providers and patients alike.
- European government’s assistance includes measures to improve healthcare professional training in minimally invasive treatments, money for medical device research and development, and incentives for hospitals to invest in cutting-edge surgical equipment. These efforts are intended to improve healthcare outcomes, optimize resource use within healthcare systems, and lower overall healthcare expenditures. As a result, the European market for minimally invasive operations is expected to grow further with advances in surgical instruments, imaging technology, and surgical robotics driving additional progress.
Global Minimally Invasive Surgery MarketSegmentation Analysis
The Global Minimally Invasive Surgery Market is segmented based on Type of Surgery, Applications, Product Type, and Geography.
Minimally Invasive Surgery Market, By Type of Surgery
- Surgical Instruments
- Robotics Systems
- Visualization Systems
- Accessories and Consumables
Based on Type of Surgery, the Global Minimally Invasive Surgery Market is bifurcated into Surgical Instruments, Robotics Systems, Visualization Systems, Accessories and Consumables. Robotic surgery is emerging as the dominant type within the minimally invasive surgery (MIS) market. Robotic systems offer surgeons enhanced precision, dexterity, and 3D visualization capabilities which are crucial for performing complex procedures with greater accuracy compared to traditional methods. These systems enable minimally invasive surgeries across various specialties including urology, gynecology, and general surgery, thereby expanding their applicability and adoption. Furthermore, robotic surgery platforms continue to evolve with advancements in artificial intelligence and machine learning promising even greater surgical outcomes and efficiency.
Minimally Invasive Surgery Market, By Application
- Gastrointestinal Surgery
- Cardiothoracic Surgery
- Orthopedic Surgery
- Gynecological Surgery
Based on Application, the Global Minimally Invasive Surgery Market is bifurcated into Gastrointestinal Surgery, Cardiothoracic Surgery, Orthopedic Surgery, and Gynecological Surgery. Among the listed applications, minimally invasive surgery (MIS) in orthopedic surgery stands out as particularly dominant. This dominance can be attributed to several factors. Advancements in arthroscopic techniques have revolutionized the treatment of orthopedic conditions like knee injuries, shoulder problems, and hip disorders. These procedures offer patients reduced recovery times, minimal scarring, and lower risks of infection compared to traditional open surgeries. Moreover, the aging population and increasing sports-related injuries have fueled the demand for orthopedic interventions that offer quicker rehabilitation and less post-operative pain. Overall, the combination of clinical effectiveness, patient preference for quicker recovery, and ongoing technological innovation positions orthopedic MIS as the dominant application within the broader MIS market landscape.
Minimally Invasive Surgery Market, By Product Type
- Surgical Instruments
- Robotics Systems
- Visualization Systems
- Accessories and Consumables
Based on Product Type, the Global Minimally Invasive Surgery Market is bifurcated into Surgical Instruments, Robotics Systems, Visualization Systems, Accessories and Consumables. In the minimally invasive surgery (MIS) market, surgical instruments dominate due to their essential role in performing precise and controlled procedures. These instruments including laparoscopic graspers, scissors, dissectors, and trocars are fundamental for manipulating tissues and organs through small incisions minimizing trauma and promoting quicker recovery times for patients. Surgical instruments are widely used across various specialties such as general surgery, gynecology, urology, and orthopedics contributing significantly to the overall adoption of minimally invasive techniques. Their versatility coupled with advancements in design and materials continually enhances surgical outcomes and patient safety.
Minimally Invasive Surgery Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
Based on Geography, the Global Minimally Invasive Surgery Market is classified into North America, Europe, Asia Pacific, and the Rest of the World. Among the regions mentioned, North America stands out as dominant in the minimally invasive surgery (MIS) market. The United States leads due to advanced healthcare infrastructure, high healthcare expenditure, and a strong focus on technological innovation. The market in the US benefits from extensive research and development activities, favorable reimbursement policies, and a large patient pool opting for minimally invasive procedures. Overall, North America’s dominance in the MIS market is bolstered by its robust healthcare system, technological advancements, and proactive government support.
Key Players
The “Global Minimally Invasive Surgery Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Medtronic plc, Johnson & Johnson, Stryker Corporation, Abbott Laboratories, Boston Scientific Corporation, Siemens Healthineers AG, Philips, GE Healthcare, Smith & Nephew plc, Zimmer Biomet Holdings, Inc., Olympus Corporation, Intuitive Surgical Inc., CONMED Corporation, and B. Braun Melsungen AG.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Global Minimally Invasive Surgery Market Key Developments
- In June 2022, Boston Scientific agreed to buy a controlling stake in M.I.Tech, a manufacturer and distributor of non-vascular metal stents used in endoscopic and urologic operations, from South Korea’s Synergy Innovation. Boston Scientific offered about KRW 14,500 (about USD 11) per M.I.Tech share, for a total price of KRW 291.2, or around USD 230 million.
- In January 2023, PENTAX Medical received CE certification for its PENTAX Medical INSPIRA, a new premium video processor, and the i20c video endoscope series. The new video processor retains compatibility with PENTAX Medical’s most recent endoscope models while also setting new standards with the new i20c video endoscope generation.
Report Scope
REPORT ATTRIBUTES | DETAILS |
---|---|
STUDY PERIOD | 2020-2031 |
BASE YEAR | 2023 |
FORECAST PERIOD | 2024-2031 |
HISTORICAL PERIOD | 2020-2022 |
UNIT | Value (USD Billion) |
KEY COMPANIES PROFILED | Medtronic plc, Johnson & Johnson, Stryker Corporation, Abbott Laboratories, Boston Scientific Corporation, Siemens Healthineers AG, Philips, GE Healthcare, Smith & Nephew plc, Zimmer Biomet Holdings, Inc., Olympus Corporation, Intuitive Surgical Inc., CONMED Corporation, and B. Braun Melsungen AG. |
SEGMENTS COVERED | By Type of Surgery, By Applications, By Product Type, and By Geography. |
CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Research Methodology of Market Research
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which