Minimally Invasive Surgical Instruments Market Analysis and Forecast to 2031: By Device (Handheld Instruments, Inflation Devices, Cutter Instruments, Guiding Devices, Electrosurgical Devices, Auxiliary Devices, Monitoring & Visualization Devices), By Appl

Minimally Invasive Surgical Instruments Market Analysis and Forecast to 2031: By Device (Handheld Instruments, Inflation Devices, Cutter Instruments, Guiding Devices, Electrosurgical Devices, Auxiliary Devices, Monitoring & Visualization Devices), By Application (Cardiac, Gastrointestinal, Orthopedic, Vascular, Gynecological, Urological, Thoracic, Cosmetic, Dental), By End-Use (Hospitals, Ambulatory Surgical Centers), And Region

The global minimally invasive surgical instruments market was valued at USD 12.8 billion in 2021 and it is anticipated to grow up to USD 65.3 billion by 2031, at a CAGR of 17.7% during the forecast period.

Minimally invasive surgeries are much less traumatic than conventional open surgeries. Traditional surgeries performed with conventional laparoscopic instruments can be traumatic and complex. Minimally invasive laparoscopic cameras are inserted through smaller incisions and specialized smaller instruments are used to perform the operation. The healing process is less painful and patients can recover fastest after minimally invasive surgeries.

Market Trends and Drivers

Advantages of MIS over open surgical techniques will fuel the industry growth. Over the years, minimally invasive surgeries (MIS) have undergone a drastic transformation in technological advancements, which has brought about a paradigm shift in the way surgical procedures are performed in operating rooms. Most surgeons currently opt for advanced minimally invasive surgical procedures such as laparo-endo single-incision surgery (LESS) due to their advantages over traditional open surgical techniques. These advantages include fewer scars and tissue injury, quicker recovery periods, shorter hospital stays, reduced blood loss and trauma, lower risk of infection, and reduced overall healthcare costs. In addition, minimally invasive surgeries are increasingly being covered by health insurance providers in select countries. These factors have led to an increased preference for minimally invasive surgeries among patients.

Market Restraints and Challenges

Changing regulatory landscape in the medical device industry will augment the market growth. The regulatory environment is extremely uncertain for medical device manufacturers. From 2005 to 2010, the average time taken to approve a 510 (k) application increased by 43%, while the time required to obtain a premarket approval increased by 75%. The US FDA demands more clinical data with respect to the clinical safety and efficacy of a product. This leads to increased investments by companies in clinical trials, delays in the approval process, and additional capital requirements for in-depth post-marketing surveillance studies. It also increases the risk of product recalls, especially when companies lack the funds to conduct additional studies to support additional data requirements from the FDA. These delays in approvals also restrain the growth of the minimally invasive surgical instruments market. Such regulatory reforms also restrict small manufacturers from entering the market.

Global Minimally Invasive Surgical Instruments Market Segmental Overview

The report analyses the global minimally invasive surgical instruments market based on device, application, end-use, and region.

Global Minimally Invasive Surgical Instruments Market by Device

Based on device, it is segmented into, Handheld Instruments, Inflation Devices, Cutter Instruments, Guiding Devices, Electrosurgical Devices, Auxiliary Devices, and Monitoring & Visualization Devices. Among these, in 2021, the handheld instruments segment dominated the minimally invasive surgical instruments market with more than 22% share. Handheld instruments used in MIS techniques target reducing the amount of damage to extraneous tissues during surgical procedures, thereby speeding patient recovery time and reducing discomfort & side effects. Most of the instruments in the MIS market are single-use products. The handheld instruments market is driven by technological innovations and their growing adoption in minimally invasive surgeries. For instance, a low-cost mechanical instrument has been developed recently to perform minimally invasive laparoscopic surgeries. These handheld devices can be either mechanical, robotic, or semi-automated. Handheld devices ensure easier access during surgery with instrument triangulation, thereby reducing the risk of potential mistakes.

Global Minimally Invasive Surgical Instruments Market by Application

Based on application, it is segmented into cardiac, gastrointestinal, orthopedic, vascular, gynecological, urological, thoracic, cosmetic, dental and others. Among them, in 2021, Cardiac is one of the key factors boosting the adoption of minimally invasive surgeries. Minimally invasive surgeries have various potential benefits over conventional surgeries such as minimal blood loss, reduction in pain & trauma, minimal risk of infection, lesser or smaller noticeable scars, faster recovery, shorter duration of hospitalization, and quicker return to normal activities. Rising incidence of cardiovascular diseases is one of the significant factors leading to an increase in the adoption of minimally invasive surgeries over conventional ones owing to the various advantages of these surgeries.

Global Minimally Invasive Surgical Instruments Market by End-use

Based on end-use, it is segmented into hospital, and ambulatory surgical center. Among them, ambulatory surgical centers are expected to witness the fastest growth rate over the forecast period. Currently, over 5,500 Medicare certified ambulatory surgical centers are present in the U.S. Ambulatory surgical centers offer surgeries to patients at lower costs and greater flexibility of scheduling as compared to hospitals. Also referred to as same-day surgery centers, these medical facilities discharge patients after minor surgeries. The demand for outpatient surgeries is likely to grow dramatically in the coming years. The growth in ambulatory surgical centers can be attributed to several factors including rise in minimally invasive procedures, advancement in the field of anesthesia, enhanced patient experiences, legislative changes, and economic pressures. To encourage the use of ambulatory surgical centers, Medicare waived the part B deductible for beneficiaries.

Geographical Analysis of Global Minimally Invasive Surgical Instruments Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for significant revenue size in 2021. North America dominated the regional segment of minimally invasive surgical instrument market in 2021 due to the high rate of unintentional injuries and large geriatric population. According to a report by the Organization for Economic Co-operation and Development (OECD), per capita healthcare expenditure in the U.S. is higher than all the other countries in the world. In addition, patients in the U.S. have the ability to choose methods of treatment as well as the providers. This is likely to have a positive impact on the MIS market in North America. On the other hand, Asia Pacific is expected to be fastest-growing regional market from 2022 to 2030.

Major Players in the Global Minimally Invasive Surgical Instruments Market

COVID-19 Impact

Despite, huge investment in R&D and product launches with advanced features, the minimally invasive surgical instruments market witnessed a dip in 2020 due to the outbreak of COVID-19. National lockdowns, stop on logistics movements, lack of resource availability, and most importantly, the economic instability of hospitals and end use settings, led to the fall of the market. A dramatic decline in elective surgeries by nearly 50% across the globe, cancellation of planned laparoscopic surgeries for the year 2020 and early 2021, reduced medical staff, increased workload on surgeons, and risk associated with viral spread, also fueled the market drop. However, it is said to rise sharply by early 2022.

Recent Developments

• In May 2022, Surgical instruments manufacturer launches new green initiative. This initiative includes launching a new Ethical Duty Smart Repair service, which actively promotes the repair and refurbishment of surgical instruments and other medical devices to tackle global steel wastage.
• In March 2021, Johnson & Johnson (US) launched its ECHELON+ Stapler.
• In October 2020, MMI SpA, an Italian company dedicated to improving clinical outcomes for patients undergoing microsurgery, announced today the CE Mark, launch and first human use of its Symani® Surgical System in Europe for open microsurgical procedures.
• In June 2019, Medtronic plc (Ireland) acquired Titan Spine (Germany). This acquisition strengthened Medtronic’s position as a leading innovator in procedural solutions for spine surgery.
• In November 2018, Stryker Corporation (US) acquired K2M Group to strengthen and expand its product offerings in the arthroscopy and minimally invasive spine portfolio and expand its manufacturing capabilities.

Q1. How big is the orthopedic braces & supports market?Ans. The global minimally invasive surgical instruments market size was USD 12.2 billion in 2021 and is anticipated to reach USD 65.3 billion in 2031, growing at a rate of 17.7 % from 2022 to 2031.Q2. What is the minimally invasive surgical instruments market growth rate?Ans. The growth rate of the minimally invasive surgical instruments market is 17.7%.Q3. Which region holds a major market share for the molecular quality controls market?Ans. North America holds a major market share of the minimally invasive surgical instruments market in 2021.Q4. Which segment accounted for the largest minimally invasive surgical instruments market share?Ans. By end user, the healthcare segment accounted for the largest minimally invasive surgical instruments market share.Q5. Who are the key players in the molecular quality controls market?Q6. What are the factors driving the minimally invasive surgical instruments market growth?Ans. The major factors driving the growth of the market are the rising number of surgical procedures.Q7. What are the key growth strategies of minimally invasive surgical instruments market players?Ans. The key growth strategies of minimally invasive surgical instruments market players are product launch and product approval.Q8. Which region will provide more business opportunities for the minimally invasive surgical instruments market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for the minimally invasive surgical instruments market during the forecast period.

Please Note: This report will be delivered by publisher within 3-4 business days of order confirmation.