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In-Depth Analysis of the Minimal Invasive Surgery Devices Market: Growth Opportunities, Key Trends, and Forecast 2025-2034
What Are the Projected Growth and Market Size Trends for the Minimal Invasive Surgery Devices Market?In recent times, the market size for minimal invasive surgery devices has seen substantial growth. The market is projected to expand from $34.17 billion in 2024 to $36.61 billion in 2025, with a compound annual growth rate (CAGR) of 7.1%. The growth observed during the historic period is largely due to factors such as an increase in chronic diseases, an expanding elderly population, a surge in obesity cases, and an upswing in demand for natural orifice transluminal endoscopic surgery.
The market for minimally invasive surgical devices is likely to witness robust expansion in the coming years, with its size projected to reach $46.14 billion in 2029, growing at a Compound Annual Growth Rate (CAGR) of 6.0%. The factors attributed to this growth during the forecast period include the worldwide growth of healthcare, increasing inclination towards patient-centered care, patient preference for less intrusive surgeries, and the skill and experience of surgeons. The forecast period will also see key trends such as the incorporation of robotics and Artificial Intelligence, the rise of remote surgeries and telesurgeries, the application of single-incision surgeries, the use of natural orifice surgeries, and the advent of 3D printing and tailored devices.
What Is Driving the Growth Trajectory of the Minimal Invasive Surgery Devices Market?
The rise in popularity of minimally invasive surgeries due to increased public awareness is propelling the market for minimally invasive surgery devices. As opposed to conventional surgical techniques, these surgeries necessitate smaller incisions in the skin, resulting in lower pain levels, a shortened hospital stay, reduced scarring, a decreased likelihood of bleeding and infection, and less tissue damage. For instance, The Aesthetic Society, an organization based in the US focused on plastic surgery and cosmetic medicine, reported in August 2023 that Americans invested over $11.8 billion in minimally invasive surgical procedures, marking a 2% increase from the year before. Therefore, the surging preference for minimally invasive surgery (MIS) will boost the market demand for minimally invasive surgical devices.
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Which Leading Companies Are Shaping the Growth of the Minimal Invasive Surgery Devices Market?
Major companies operating in the minimal invasive surgery devices market include Abbott Laboratories, GE Healthcare, Medtronic plc, Siemens Healthineers, Smith & Nephew Plc., Stryker Corporation, Boston Scientific Corporation, EthiconInc., B. Braun Melsungen Ag, Conmed Corporation, Microline SurgicalInc., Zimmer Biomet HoldingsInc., Aesculap Inc., Koninklijke Philips NV, F. Hoffmann-La Roche AG, Cardinal Health inc., Baxter International Inc., Danaher Corporation, KARL STORZ SE & Co. KG, Richard Wolf GmbH, Cook Medical, Intuitive Surgical Inc., Smiths Medical, Teleflex Incorporated, Terumo Corporation, Merit Medical Systems, AngioDynamics, MicroPort Scientific Corporation, Lumenis
What Are the Major Trends Shaping the Minimal Invasive Surgery Devices Market?
Increasing trade barriers are anticipated to negatively affect the expansion of the minimally invasive surgery devices market. Numerous countries have imposed restrictions on trade, particularly imports, to enhance domestic production. For example, the United Nations Conference on Trade and Development, an intergovernmental organization based in Switzerland, projected in December 2023 that the global trade of goods would decline by about $2 trillion in 2023. These trade barriers could curtail the growth of demand in the future by resulting in higher prices.
What Are the Key Segments of the Minimal Invasive Surgery Devices Market?
The minimal invasive surgery devices market covered in this report is segmented -
1) By Product Type: Handheld Instruments, Inflation Devices, Cutter Instruments, Guiding Devices, Electrosurgical Devices, Auxiliary Devices, Monitoring & Visualization Devices
2) By Application: Laparoscopy, Cardiovascular, Cosmetic Surgery, Orthopedic Surgery, Obstetrics And Gynecology, Ophthalmology, Neurosurgery, Urology, Other Applications
3) By End Users: Hospitals, Ambulatory Surgical Centers (ASCS), Research Institutes
Subsegments:
1) By Handheld Instruments: Scissors, Forceps, Graspers
2) By Inflation Devices: Balloon Inflation Devices, CO2 Insufflators
3) By Cutter Instruments: Mechanical Cutters, Energy-based Cutters
4) By Guiding Devices: Guidewires, Sheaths
5) By Electrosurgical Devices: Electrosurgical Generators, Electrosurgical Pencil
6) By Auxiliary Devices: Suction Devices, Irrigation Devices
7) By Monitoring And Visualization Devices: Cameras, Monitors, Imaging Systems
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Which Region Dominates the Minimal Invasive Surgery Devices Market?
The countries covered in the minimal invasive surgery devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
What Is Covered In The Minimal Invasive Surgery Devices Global Market Report?
- Market Size Analysis: Analyze the Minimal Invasive Surgery Devices Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Minimal Invasive Surgery Devices Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Minimal Invasive Surgery Devices Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Minimal Invasive Surgery Devices Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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