What is Minimally-Invasive Surgery Devices Market?
The global market is expected to witness high demand in the forecasted period due to increasing incidences of Gastrointestinal surgeries. Devices that reduce the size and/or quantity of incisions required to perform surgery are referred to as minimally invasive devices. Additionally, when referring to tools utilized during a minimally invasive treatment, such as electrosurgical systems, robotic-assisted surgical systems, and surgical equipment Any surgical operation that is carried out through a small incision rather than a big hole is referred to as minimally invasive surgery. Compared to open surgery, minimally invasive surgery causes less discomfort and has a quicker recovery time. Rising economic growth, an aging population, and an increase in chronic disease prevalence are the main drivers impacting the market's expansion.
Highlights from Minimally-Invasive Surgery Devices Market Study
|Unit||Value (USD Million)|
|Key Companies Profiled||Abbott, GE Healthcare, Medtronic, Inc, Ethicon, Inc., DePuy Synthes, NuVasive, Inc., Biomet, Inc, Intuitive Surgical, Inc, Siemens Healthcare GmbH and ArthroCare Corporation|
The Market seems to be moderately consolidated due to the presence of a large number of players in the market. key players focusing on technological advancement to gain a significant market share in the industry. Most of its revenue is invested in R&D to develop highly interactive technology to strengthen its market position. Newer players in the market obtain heavy funding from government bodies and healthcare organizations to fuel product research and adhere to market needs. Abbott, GE Healthcare, Medtronic, Inc, Ethicon, Inc., DePuy Synthes, NuVasive, Inc., Biomet, Inc, Intuitive Surgical, Inc, Siemens Healthcare GmbH and ArthroCare Corporation are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Norwood Medical, KEBOMED Europe AG, Fortimedix Surgical, Freudenberg Medical and Others.
Minimally-Invasive Surgery Devices Market Segmentation:
|Application / End User||Cardiac Surgery, Gastrointestinal Surgery, Orthopedic Surgery, Vascular Surgery, Gynecological Surgery, Urological Surgery, Thoracic Surgery, Cosmetic Surgery, Dental Surgery and Others|
|Type||Handheld Instruments, Guiding Devices, Electrosurgical Devices, Endoscopic Devices, Laproscopic Devices, Monitoring and Visualization Devices, Ablation Devices, Laser-based Devices, Robotic-assisted Surgical Systems and Other|
|End User||Hospitals & Clinics,Ambulatory Surgical Centers,Others|
On the basis of geography, the market of Minimally-Invasive Surgery Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
High Prevalence of the Lifestyle-related and Chronic Disorders and The Growing Awareness about the Benefits of Minimally Invasive Procedures
Market Growth Drivers:
The High Number of Minimally Invasive Procedures over The Traditional Surgeries and The Increasing number of Procedures in Gastrointestinal Application
The Stringent Government Regulations
The Concern Related to the High Cost of the Procedures and Lack Of Trained Professionals
Technological Advancement such as Increasing Adoption of Robotic-Assisted Surgery Systems
Key Target Audience
Device manufacturers, Device distributors, Hospitals, clinics, and associations, Private insurance companies, Government agencies, Government Regulatory Bodies, Private Research Organizations, Government Research Organizations and Others
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