Minimally Invasive Surgical Instruments Market Size, Share & Trends Analysis Report By Device (Handheld Instruments, Inflation Devices), By Application (Cardiac, Gastrointestinal), By End Use, And Segment Forecasts, 2022 - 2030

Minimally Invasive Surgical Instruments Market Size, Share & Trends Analysis Report By Device (Handheld Instruments, Inflation Devices), By Application (Cardiac, Gastrointestinal), By End Use, And Segment Forecasts, 2022 - 2030

Minimally Invasive Surgical Instruments Market Growth & Trends

The global minimally invasive surgical instruments market size is estimated to reach USD 60.65 billion by 2030 registering a CAGR of 9.8% from 2022 to 2030 according to a new report by Grand View Research, Inc. The cost of minimally invasive surgical instruments is significantly lower than in patient and open surgeries. Thus, it is beneficial for patients and payers as well. Reduction in healing time, smaller incisions, reduced anastatic use, decreased hospital stays, and increased accuracy has improved its adoption by most surgeons across the globe. Furthermore, an increase in investments by several organizations and hospitals to improve healthcare infrastructure is expected to create opportunities for minimally invasive surgical instrument manufacturers. To deliver a high standard of medical care, surgical wards in newly built hospitals are expected to be equipped with advanced surgical equipment, which is likely to propel market growth in the forecast period.

According to a research article published in the medical journal, JAMA Surgery, in March 2015, the use of minimally invasive surgeries for routine operations of the colon, lungs, and appendix can result in the reduction of postoperative complications, thereby saving nearly USD 280 million to USD 340 million per year. Investments in minimally invasive surgical instruments are gradually rising in hospitals, thereby driving the market. Collaborative strategies undertaken by leaders in the market and constant updates and launches of new products have improved the minimally invasive surgical instruments market. However, the market saw a dip in 2021 due to the outbreak of the COVID-19 pandemic. Reduction in elective and planned surgeries by nearly 50% has declined the market dramatically. Additionally, a stop in logistic movement, decreased raw material supplies, and economic instability of hospitals led to the dip in the market. Yet, it is said to stabilize by early 2022.

Minimally Invasive Surgical Instruments Market Highlights

• The handheld instrument segment accounted for the largest revenue share in 2021 in the device outlook as it improves recovery time and reduces side effects
• The orthopedic segment held the largest market share in 2021 in application outlook
• Ambulatory surgery centers are the fastest-growing segment in the end use market, as it offers surgeries at reduced cost and provides greater flexibility in scheduling as compared to hospitals
• North America dominated the regional market due to the high rate of unintentional injuries and the large geriatric population