Minimally-invasive Surgery Devices Market 2019 Major Players: Abbott Laboratories, GE Healthcare, Intuitive Surgical, Koninklijke Philips NV, Medtronic PLC, Olympus Corporation, Siemens Healthineers

Market Overview
The minimally-invasive surgery devices market is expected to register a CAGR of 8%, over the forecast period. The major factors for the growth of the minimally-invasive surgery devices market include the higher acceptance rate of minimally-invasive surgeries over traditional surgeries, increasing prevalence of lifestyle-related and chronic disorders, and technological advancements.

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Minimally-invasive surgeries (MIS) cause less post-operative pain, and hence, patients receive smaller dosages of pain killers. As there are minimal cuts or stitches involved, the hospital stay is relatively shorter, and patients need not visit the hospital frequently. Traditional open surgeries involve long incisions made through the muscles, and these muscles take a considerable amount of time to heal, whereas MIS procedures involve smaller incisions, leading to quicker recovery. In addition, the body scars involved in MIS are barely noticeable. The main advantage of MIS over the traditional open surgeries is the higher precision due to video-assisted equipment, which produces a better and magnified image of the organs or body parts being operated. These surgeries are gaining wider acceptance among the geriatric population, due to the relatively shorter recovery time. Few organizations, such as the American Association of Gynecologic Laparoscopists (AAGL) and the International Society of Gynecologic Endoscopy (ISGE), are collaborating with healthcare agencies in South Africa, to create awareness about the benefits of MIS, and improve the adoption rate. Thus, owing to the benefits associated with minimally-invasive surgeries, the adoption rate is increasing, which may increase the overall growth of the market over the forecast period.

Competitive Landscape
The market studied is moderately consolidated, owing to the presence of a few key players in the market. The companies are focusing on the technological advancement of devices, in order to gain significant market share. Some of the market players are Abbott Laboratories, GE Healthcare, Intuitive Surgical Inc., Koninklijke Philips NV, Medtronic PLC, Olympus Corporation, Siemens Healthineers, Smith & Nephew, Stryker Corporation, and Zimmer Biomet.

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Scope of the Report
As per the scope of this report, minimally-invasive surgical devices refer to electrosurgical systems, robot-assisted surgical systems, and surgical equipment, which are used during the minimally-invasive procedure. The minimally-invasive neurosurgery device market is growing at a significant rate, due to various benefits associated with minimally-invasive procedures, such as less recovery time, minimal pain to the patients, shortened hospital stay, and high accuracy. The market is segmented by products, application, and geography.

Key Market Trends
Gastrointestinal Segment, under Application, is expected to be the Fastest Growing Segment over the Forecast Period.

The gastrointestinal segment is expected to be the fastest growing segment, owing to the rising incidence of gastrointestinal diseases in the young, adult, and geriatric groups, worldwide. Dyspepsia, irritable-bowel syndrome, and constipation are some of the examples of gastrointestinal disorders. Gastroesophageal reflux disease is also a prevalent form of the organic gastrointestinal disorder. Minimally-invasive surgery has gained popularity for benign diseases, and has proved its safety and efficacy over traditional methods, owing to which, it has gained substantial attention in the past several years. According to the data published by Centers for Disease Control and Prevention (CDC), there were 32.3 million of visits to physician offices, with diseases of the digestive system as the primary diagnosis in the United States. With the increase in the government’s continuous effort to improve the health of people, the number of gastrointestinal surgeries is bound to rise, which, in turn, may improve the scope for minimally-invasive devices meant for gastrointestinal surgery.

North America accounted for the Largest Share in the Global Market
North America held a major share for the minimally-invasive surgery devices market, and is expected to show a similar trend over the forecast period, without significant fluctuations. North America is anticipated to dominate the minimally-invasive neurosurgery devices market, globally. The factors attributed to the high growth of the region are the increasing number of neurological disorders and the growing adoption of minimally-invasive surgeries in the region. More than 65 million American citizens suffer from lower back problems, every year. Neurosurgery and skull-based surgery are undergoing a paradigm shift. The physicians are using endoscopic techniques to visualize and excise lesions that were previously addressed through large, open surgeries. The advantages of minimally-invasive surgeries, such as less invasiveness, quick recovery time of patients, and low-cost of treatment, have augmented the demand for minimally-invasive neurosurgery devices in the region. Furthermore, advancements in various surgical devices from established key players, in the United States, are likely to drive the market growth in North America.

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