Global Minimally Invasive Surgical Instruments Industry
The global Minimally Invasive Surgical (MIS) instruments market is expected to grow at a CAGR of 7.8 % during 2018-2023. MIS is an advanced surgical technology where surgery is performed through tiny incisions. This technology is gaining popularity among surgeons and patients due to various benefits offered by the technology such as reduced recovery time, reduced pain and low risk of post-surgery trauma. Thin needles, stents, and endoscopes are used during surgery. During the procedure, the surgeon makes minimum cuts on the skin and embeds thin tubes known as ‘trocars’ in the body, and along with it, a small camera is also inserted into the body to monitor the surgery. Further, other instruments are also embedded into the body through trocars to perform the surgery.
Increasing prevalence of the lifestyle-oriented diseases and rising surgical procedures among aging population are estimated to be some of the major factors that are augmenting the growth of the market. Additionally, technological advancement and other benefits offered by the minimally invasive technology over other conventional surgery methods such as reduction in the recovery time, less pain, low risk of post-operation trauma and cost effectiveness are estimated to be the major factors that are contributing significantly to the growth of the market.
However, there are certain factors such as lack of skilled surgeons, ambiguous regulatory framework, and reimbursement issues associated with medical device industry are estimated to be the major constraints in the growth of the market. Besides these restraints, growing demand for minimally invasive technology and emerging markets are estimated to develop myriad growth opportunities for the growth of the market.
The global MIS instruments market is analysed on the basis of the geographical regions that are contributing significantly towards the growth of the market. North America is estimated to be the dominating region in the global minimally invasive surgery instruments market owing to the increasing prevalence of lifestyle oriented diseases, growing geriatric population, and increasing number of surgeries performed in the region. Whereas, Asia Pacific is estimated to be the fastest growing region due to increasing healthcare expenditure, growing geriatric population, and presence of larger patient pool. Further, increasing demand from Asia Pacific region attracts the market players to expand their geographical presence in the region, which is also estimated to have significant impact on the growth of the market.
Some of the prominent vendors of the MIS instruments market include- Abbot Laboratories, Applied Medical Resources Corporation, B Braun Melsungen AG, Boston Scientific Corporation, Conmed Corporation, Covidien Ltd., Given Imaging Ltd., Hoya Corporation and so on. Partnerships and acquisitions were the major strategies adopted by these organizations to sustain in the market. For instance, Boston Scientific acquired urology and gynaecology portfolio of Distal Access, LLC, which is known for minimally invasive medical devices in November, 2016.
The global MIS instruments market has been segmented on the basis of products, technology, and applications. On the basis of technology, the market is segmented into endoscopy, laparoscopy, robot-assisted methods, arthroscopic techniques, and ablative methods. Robot-assisted methods have been predicted to be the fastest growing technology due to precision and flexibility offered by them.
Global Minimally Invasive Surgical Instruments Market by Products
Global Minimally Invasive Surgical Instruments Market by Technology
Global Minimally Invasive Surgical Instruments Market by Applications
The Report covers:
Comprehensive research methodology of Global MIS Instruments Market.
This report also includes detailed and extensive market overview with Analyst insights & key market trends.
Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the Global MIS Instruments Market.
Insights about market determinants which are stimulating the Global MIS Instruments Market.
Detailed and extensive market segments with regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.
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