Minimally Invasive Surgery (MIS) Market: Size, Application Analysis, Regional Outlook, 2018-2026
According to the report, the global M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) market was valued at US$ 1.1 Bn in 2017 and is projected to expand at a CAGR of 9.2% from 2018 to 2026. Rise in prevalence of various gastric diseases and cancers is anticipated to drive demand for M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) surgeries during the forecast period.
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North America and Europe are projected to dominate the global M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) market owing to higher rate of adoption and awareness about minimally invasive surgeries.
Asia Pacific, Latin America, and Middle East & Africa are potential markets for M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD). The M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) market in Asia Pacific is expected to expand at a CAGR of 10.0% from 2018 to 2026.
High Prevalence of Lifestyle Diseases
Increase in lifestyle diseases leads to various disorders across the globe. According to the WHO, more than 1.9 billion adults were overweight in 2016. Of these, over 650 million were obese. Most of the world's population lives in countries where overweight and obesity account more deaths than underweight. This is likely to increase the number of treatment procedures; consequently, propelling the global M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) market.
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Colorectal Cancer Segment Accounted for Significant Market Share
The global M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) market has been segmented based on procedure, indication, and region. In terms of procedure, the global I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) market has been classified into laparoscopic surgery, robotic surgery, endoscopic mucosal resection, and endoscopic sub-mucosal dissection.
In terms of indication, the global M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) market has been segmented into gastric cancer, Barrett’s esophagus, small intestine (duodenum) cancer, colorectal cancer, esophageal cancer, and others.
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Colorectal cancer is projected to be a highly attractive segment during the forecast period. The segment is anticipated to continue to lead the market from 2018 to 2026 due to increase in geriatric population, changing lifestyles leading to high prevalence of obesity, and rise in demand for minimally invasive procedures. However, the Barrett’s esophagus segment is expected to expand at a high CAGR during the forecast period due to rise in prevalence of Barrett’s esophagus across the globe.
North America to Dominate Global M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) Market
In terms of region, the global M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America dominated the global M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) market in 2017. The M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) market in the region is driven by highly developed health care sector, increase in awareness among health care providers about minimally invasive surgery, and continuous evolution of minimally surgery devices. The region offers significant opportunities in the M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) market.
The M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) market in Asia Pacific is anticipated to expand at a high CAGR during the forecast period due to increase in awareness about M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) for therapeutics.
Moreover, expansion of the health care sector in countries such as China, Japan, and India offers immense potential in the region. Technological advancements and increase in rate of adoption of M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) are expected to propel the market in the region during the forecast period.
M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) is a Highly Fragmented Market, with Large Number of Global and Regional Players
The global M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) market is highly fragmented in terms of number of players providing different services. Key players in the global M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) market include University of Pittsburgh Medical Center, Rutland Medical Center, Huntington Hospital, Washington Hospital Healthcare System, The Ottawa Hospital, St. Michael's Hospital, Charité - Universitätsmedizin Berlin, Ipswich Hospital, Apollo Hospitals Enterprise Limited, and HealthCare Global Enterprises Ltd.
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