Global Minimally Invasive Surgery Market: Overview
Minimally invasive surgery is performed on the patient’s body with tiny incisions instead of one large opening and ensures that it reduces hospital stay duration, recovery time, and patient trauma. The occurrence of various diseases such as cardiovascular diseases, arthritis, and cancer is increasing and these diseases require minimally invasive surgery. In this process, few small incisions are made in the skin which is just a few millimeters and the long thin tube is allowed to pass through tiny incisions with a mini camera attached at the end also known as an endoscope. Endoscopic images are projected on the monitors so that surgeons can clearly see the surgical area. Specialized instruments are allowed to pass through other openings so that surgeon performs surgery by exploring and repairing.
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Global Minimally Invasive Surgery Market: Growth Factors
The minimally invasive surgeries are getting popular among physicians and patients this is the key factor that is contributing to the market growth. Aged population in the developed countries is at high risk in terms of the success of surgery however minimally invasive surgery will ensure minimal trauma. Technologically advanced products are entering the market which includes narrow band imaging endoscopes, confocal micro endoscopes, and HD cameras for endoscopes, this is anticipated to boost the minimally invasive surgery market in the next few years as it provides better visualization during the surgery.
Global Minimally Invasive Surgery Market: Segmentation
The minimally invasive surgery market is globally segregated based on the product type and type of surgery. The product type segment is fragmented into monitoring & visualization devices, surgical devices, and endoscopy devices. The monitoring & visualization devices are further sub-segmented into ultrasound equipment, X-Ray devices, magnetic resonance imaging equipment, computed tomography scanners, and others. The surgical devices are further sub-segmented into ablation devices, medical robotic systems, and electrosurgical devices. Type of surgery is classified into gynecological surgery, cosmetic surgery, urological surgery, bariatric surgery, breast surgery, cardiac surgery, vascular surgery, gastrointestinal surgery, orthopedic surgery, and thoracic surgery. The orthopedic surgery is sub-divided into joint replacement surgery and spinal surgery.
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Global Minimally Invasive Surgery Market: Regional Analysis
North America region contributed for the largest market share due to presence of large number of elderly people, presence of major leading companies, and well-established reimbursement scenario. Asia Pacific is expected to witness a good market growth in the near future owing to high revenue generation. Developing economies such as India and China are having a significant market growth owing to the rise in disposable income and increasing geriatric population in these regions; while high adoption rates in Japan will fuel the minimally invasive surgery market in future. Rising healthcare expenditures and constantly increasing patient pool anticipates augmenting the growth of the market. Europe and the Middle East regions are growing at a moderate rate even though it is expected that the European market may hold the second largest revenue share in the coming years.
Global Minimally Invasive Surgery Market: Competitive Players
The key market players in the global minimally invasive surgery market include Varian Medical Systems, Inc., NuVasive, Inc., Medtronic, Inc., Biomet, Inc., Teleflex, Inc., Surgical Innovations Group Plc., and Stryker Corporation. Other influencing players include Given Imaging Ltd., Philips Healthcare, GE Healthcare, Abbott Laboratories, Inc., Intuitive Surgical, Inc., Siemens Healthcare, DePuy Synthes, Inc., and ArthroCare Corporation.
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Global Minimally Invasive Surgery Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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