Minimally Invasive Surgical Systems Market Size worth USD 41.16 Bn in 2028 | Revenue Growth is Driven by Faster Patient Recovery Time and Procedural Efficiency Of Minimally Invasive Surgical Systems, says Emergen Research
Vancouver, British Columbia, May 24, 2021 (GLOBE NEWSWIRE) — The global minimally invasive surgical systems market size is expected to reach USD 41.16 Billion at a steady CAGR of 8.1% in 2028, according to latest analysis by Emergen Research. Steady global minimally invasive surgical systems market revenue growth can be attributed to rising prevalence of on-road accidents and growing requirement for surgical procedure. According to the World Health Organization, around 1.35 million individuals die annually due to road traffic mishaps and it has been estimated that road traffic accidents cost most nations around 3.0% of their GDP.
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Injuries occurring from road traffic accidents are a major cause of death in populations in the age group of 5 years to 29 years. Joint injuries occurring from on-road accidents can lead to restricted range of motion in victims and can take several months for recovery. Arthroscopic surgery, which is a kind of minimally invasive surgery, can be utilized in such cases due benefits of smaller incision, reduced blood loss, and enabling patient rehabilitation post one to two days post-surgery.
Some Key Highlights From the Report
- In August 2020, Hologic, Inc. made an announcement about the acquisition of Acessa Health Inc., which is a company engaged in minimally invasive surgical treatment of fibroids.
- Handheld devices provide improved functionalities with accurate and articulating tips in minimally invasive surgeries. These devices improve instrument triangulation and surgical dexterity, thereby enhancing performance of surgical procedures.
- Minimally invasive surgical systems are observing high demand due to early discharge and faster patient recovery. Also, rising patients’ awareness associated with cost and procedural efficiency of minimally invasive surgical systems are driving demand for such systems. Ambulatory surgery centers are highly efficient in enabling minimally invasive surgical procedures and therefore, are garnering significant traction in the market.
- Minimally invasive surgical systems market revenue in Asia Pacific is expected to register fastest CAGR during the forecast period, attributed to rising disposable income and growing demand for cosmetic surgeries. Additionally, rapidly increasing geriatric population in countries in the region is a key factor spurring market growth.
- Key players in the market include Stryker Corporation, Abbott Laboratories, Medtronic PLC, Boston Scientific Corporation, Johnson & Johnson, OmniGuide Holdings Inc., B. Braun Melsungen AG, Becton, Dickinson and Company, CONMED Corporation, and Hoya Corporation.
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Emergen Research has segmented the global minimally invasive surgical systems market on the basis of device type, surgery type, end-use, and region:
- Device Type Outlook (Revenue, USD Billion; 2018–2028)
- Handheld Devices
- Cutter Devices
- Inflation Devices
- Electrosurgical Devices
- Monitoring and Visual Devices
- Guiding Devices
- Auxiliary Devices
- Surgery Type Outlook (Revenue, USD Billion; 2018–2028)
- Gastrointestinal Surgery
- Cardiovascular Surgery
- Orthopedic Surgery
- Urological Surgery
- Cosmetic Surgery
- Neurological Surgery
- End-Use Outlook (Revenue, USD Billion; 2018–2028)
- Specialty Clinics
- Ambulatory Surgical Centers
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- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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