OVERVIEW
The Minimally Invasive Surgery Market is currently valued at USD 34.2 billion in 2024 and will be growing at a CAGR of 6.5% over the forecast period to reach an estimated USD 47.11 billion in revenue in 2029. The minimally invasive surgery (MIS) market has experienced significant growth driven by advancements in medical technology, increasing demand for less invasive procedures, and the rising prevalence of chronic diseases worldwide. MIS techniques, such as laparoscopy, endoscopy, and robotic-assisted surgery, offer patients reduced post-operative pain, shorter hospital stays, and faster recovery times compared to traditional open surgeries. These procedures are being adopted across various medical specialties including gynecology, orthopedics, cardiology, and urology. Additionally, the market is witnessing a surge in investments in research and development to enhance surgical instruments, imaging technologies, and surgical techniques, further driving the expansion of the MIS market globally.
The increasing prevalence of chronic diseases such as cardiovascular diseases, cancer, and obesity is driving the demand for less invasive treatment options that can reduce patient trauma and recovery times. Secondly, advancements in medical technology, including imaging modalities, surgical instruments, and robotic-assisted systems, are enabling surgeons to perform complex procedures with greater precision and efficiency. Thirdly, growing patient preference for minimally invasive techniques due to reduced post-operative pain, shorter hospital stays, and quicker return to normal activities is shifting the paradigm towards these procedures. Furthermore, favorable reimbursement policies for minimally invasive surgeries in many regions are incentivizing healthcare providers to adopt these techniques, further propelling market growth.
Table of Content
Market Dynamics
Drivers:
The increasing prevalence of chronic diseases such as cardiovascular diseases, cancer, and obesity is driving the demand for less invasive treatment options that can reduce patient trauma and recovery times. Secondly, advancements in medical technology, including imaging modalities, surgical instruments, and robotic-assisted systems, are enabling surgeons to perform complex procedures with greater precision and efficiency. Thirdly, growing patient preference for minimally invasive techniques due to reduced post-operative pain, shorter hospital stays, and quicker return to normal activities is shifting the paradigm towards these procedures. Furthermore, favorable reimbursement policies for minimally invasive surgeries in many regions are incentivizing healthcare providers to adopt these techniques, further propelling market growth
Key Offerings:
Key offerings in the minimally invasive surgery (MIS) market encompass a wide range of products and services tailored to meet the evolving needs of healthcare providers and patients. Surgical instruments such as laparoscopes, endoscopes, and robotic-assisted surgical systems are essential tools for performing minimally invasive procedures with precision and efficiency. Advanced imaging technologies, including 3D visualization systems and intraoperative imaging modalities, aid surgeons in navigating complex anatomical structures and ensuring optimal surgical outcomes. Additionally, disposable accessories such as trocars, catheters, and surgical staples play a vital role in facilitating minimally invasive surgeries by enhancing procedural efficiency and reducing the risk of cross-contamination. Moreover, training and education programs offered by medical device companies and healthcare institutions are critical for ensuring the proficiency of surgeons in utilizing MIS techniques effectively, thereby driving market growth and adoption.
Restraints :
The minimally invasive surgery (MIS) market is growing, but it is hampered by a number of significant factors. One major obstacle is the high expense of purchasing and maintaining cutting-edge MIS tools and technology, which prevents healthcare facilities with little funding from having access to them. Furthermore, widespread adoption of MIS procedures may be hampered by the surgeons’ steep learning curve, especially in areas where there is a scarcity of medical practitioners with the necessary training. Hesitancy on the part of patients and healthcare professionals can also be attributed to worries about the effectiveness and safety of some minimally invasive procedures, as well as the possibility of consequences like bleeding or organ perforation. Regulatory obstacles and reimbursement issues could also hinder market growth. Strict regulations and uneven reimbursement practices can delay the approval of new MIS technologies and restrict their general adoption. Unlocking the full potential of minimally invasive surgery and enhancing patient outcomes globally will depend on addressing these constraints.
Regional Information:
• In North America, the minimally invasive surgery (MIS) market is characterized by high adoption rates of advanced surgical technologies, robust healthcare infrastructure, and favorable reimbursement policies. The region benefits from a strong presence of key market players and extensive R&D activities, driving continuous innovation in MIS techniques and devices.Â
• In Europe, the MIS market is experiencing steady growth supported by increasing healthcare expenditure, rising prevalence of chronic diseases, and growing awareness about the benefits of minimally invasive procedures. However, stringent regulatory requirements and cost containment measures in some European countries pose challenges to market expansion.Â
• In the Asia-Pacific region, rapid urbanization, expanding healthcare infrastructure, and growing disposable income levels are driving demand for minimally invasive surgeries. Emerging economies like China and India are witnessing significant investments in healthcare and technological advancements, presenting lucrative opportunities for market players.
Recent Developments:
• In January 2023, PENTAX Medical obtained CE marks for its PENTAX Medical INSPIRA, the new premium video processor, and the i20c video endoscope series. The new video processor maintains compatibility with PENTAX Medical’s recent endoscope models and sets new standards with the new i20c video endoscope generation.
• In June 2022, Boston Scientific signed a deal with South Korea’s Synergy Innovation to purchase its majority stake in M.I.Tech, a maker and distributor of non-vascular metal stents used in endoscopic and urologic procedures. Boston Scientific offered nearly KRW 14,500 (about USD 11) per M.I.Tech share, with the total price coming out to KRW 291.2, or about USD 230 million.
Key Players:
Medtronic plc, Johnson & Johnson Services, Inc., Stryker Corporation, Intuitive Surgical, Inc., and B. Braun Melsungen AG.
-The Minimally Invasive Surgery Market is expected to reach an estimated value of USD 47.11 billion in revenue by 2029.Â
2) What is the estimated CAGR of the Minimally Invasive Surgery Market over the 2024 to 2029 forecast period?
-The CAGR is estimated to be 6.5% for the Minimally Invasive Surgery Market over the 2024 to 2029.
3) Who are the key players in the Minimally Invasive Surgery Market?
-Medtronic plc, Johnson & Johnson Services, Inc., Stryker Corporation, Intuitive Surgical, Inc., and B. Braun Melsungen AG.
4) What are the drivers for the Minimally Invasive Surgery Market?
-Chronic diseases like cardiovascular, cancer, and obesity are increasing demand for less invasive treatments. Advancements in medical technology, patient preference, and favorable reimbursement policies are driving this trend. These factors are driving market growth in minimally invasive surgeries.
5) What are the restraints and challenges in the Minimally Invasive Surgery Market?
– The minimally invasive surgery (MIS) market faces challenges such as high costs, steep learning curves, safety concerns, and regulatory hurdles. Access to advanced equipment is limited for healthcare facilities with limited resources, and the learning curve for surgeons can hinder widespread adoption. Addressing these restraints is crucial for unlocking the full potential of MIS and improving patient outcomes.
6) What are the key applications and offerings of the Minimally Invasive Surgery Market?
-The minimally invasive surgery (MIS) market offers various products and services, including surgical instruments, advanced imaging technologies, disposable accessories, and training programs. These tools help surgeons perform precision and efficiency in complex anatomical structures, while disposable accessories enhance procedural efficiency. Training programs drive market growth and adoption.
7) Which region is expected to drive the market for the forecast period?
– North America is expected to have the highest market growth from 2024 to 2029
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