Increasing demand for handheld instruments in minimally invasive surgical instruments market coupled with high investments in R&D of MIS instruments are fueling the market growth.
Market Size – USD 16.98 Billion in 2018, Market Growth – CAGR of 9.4%, Market Trends – Increase in demand for minimally invasive surgical instruments in cardiovascular MIS procedures in the hospitals and ambulatory surgical center globally.
The Global Minimally Invasive Surgical Instruments Market is forecast to reach USD 38.43 Billion by 2027, according to a new report by Reports and Data. A minimally invasive medical surgery encompasses the technique of carrying out the surgery by the smallest damage possible to limit the wound during the surgical procedure. The size of the incision made is quite lesser compared to open surgery. The component used in the procedure in order to perform the techniques of making smaller invasion for a successful operation are the minimally invasive surgical instruments. Minimally invasive surgical instruments such as fiber optic cables, miniature scopes & cameras, specially designed invasive surgical devices, are requisite and common for most of the types of minimally invasive surgeries.
The North American market is forecasted to grow with a CAGR of 9.7% during the forecast period, owing to its adoption of advanced equipment & machineries for surgeries and extensive demand for MIS instruments in the MI Surgical Units and departments in all the hospitals and ambulatory surgery centers. Asia Pacific, with its advancements in the healthcare industry and escalating volumes of patients with surgical needs in China, and India, is likely to achieve a significant market share. China and India are some of the fastest-growing markets, while the United States, Japan, and Germany hold some of the most prominent players in the market.
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Further key findings from the report suggest
Key companies operating in the market include:
Medtronic PLC, B. Braun Melsungen AG, Smith & Nephew PLC, Stryker Corporation, Smith & Nephew PLC, Abbott Laboratories, Ethicon, Inc., Microline Surgicals, Inc., CONMED Corporation, and NuVasive Inc.
The report covers an extensive analysis of the key market players in the market along with their business overview, expansion plans, and strategies. The report also focuses on recent strategic alliances in the market including mergers and acquisitions, joint ventures, partnerships, agreements, corporate and government deals, product launches, and brand promotions, among others.
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The report aims to provide a better understanding of the market dynamics and the workings of the industry on a global level. To gain a deeper understanding of the industry, the global Minimally Invasive Surgical Instruments market is further segmented on the basis of key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report also offers a country-wise analysis to provide crucial insights into market size, market growth, market revenue growth, and economic growth in each region.
On basis of product types and application offered by the Minimally Invasive Surgical Instruments industry, the market is segmented into:
Type Outlook (Revenue, USD Billion; 2016-2027)
Sales Channel Outlook (Revenue, USD Billion; 2016-2027)
Type of Procedure Outlook (Revenue, USD Billion; 2016-2027)
Application Outlook (Revenue, USD Billion; 2016-2027)
End-Users Outlook (Revenue, USD Billion; 2016-2027)
The regional analysis covers:
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