Brazil Minimally Invasive Surgery Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Brazil Minimally Invasive Surgery Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Brazil's minimally invasive surgery devices market is poised to grow at a CAGR of 8.6% during the forecast period.

The pandemic caused suspension of the surgical procedures worldwide that impacted the studied market. For instance, according to an article titled "Brazil: Plastic Surgery, Covid-19 and Self-Esteem" published in Harvard Review of Latin America in October 2021, at the initial stages of the pandemic in 2020, the Brazilian government instructed to postpone all elective procedures in order to free up beds for Covid-19 patients at hospitals and all non-emergency surgeries were delayed for months. Also, another article titled "Impact of COVID-19 Pandemic in a Pediatric and Congenital Cardiovascular Surgery Program in Brazil" published in the Brazilian Journal of Cardiovascular Surgery in March 2021, reported that a 66.7% decrease in pediatric and congenital cardiovascular surgeries patient volume during the pandemic, as compared to the previous year surgeries. Therefore, COVID-19 had an adverse impact on the studied market.

The prime advantage that minimally invasive surgeries has over traditional open surgeries is the higher precision, owing to video-assisted equipment involved, which generate better and magnified images of the organs or body parts that are operated, and also wider acceptance rate in the old adult population, due to the relatively shorter recovery time. In addition, higher acceptance rate of minimally-invasive surgeries over traditional surgeries, increasing prevalence of lifestyle-related and chronic disorders, and technological advancements are actively affecting the growth of the studied market.

The minimally invasive surgeries are used for lifestyle related or chronic diseases such as in cancer, colon and rectal surgery, gastroenterologic surgery, gynecologic surgery, neurosurgery, orthopedic surgery, otolaryngology (ear, nose and throat surgery) head and neck surgery, thoracic surgery, urologic surgery, and many more. As per the Government of Brazil February 2022 update, more than 12,000 organ transplants were performed in Brazil between January and November in 2021. Owing to the high number of transplants, Brazil is ranked second in the world for most transplant surgeries performed. The surge in minimally invasive surgeries are projected to boost the demand for minimally invasive surgery devices in the country.

Additionally, the advancements in technology and increasing product approvals, along with partnerships and acquisitions by key players are helping in the market growth. For instance, in September 2020, Sartori, a Brazil-based manufacturer of orthopaedic implants and instruments, acquired SLM Solution’s Selective Laser Melting technology. With the acquisition of a new SLM280, the company was expected to address the increased demand for high-quality and affordable medical devices in the Brazil.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. However, shortage of experienced professionals and uncertain regulatory framework is likely to impede the market growth.

Key Market TrendsAesthetics Segment is Expected to Witness Growth Over the Forecast Period

Minimally invasive aesthetic procedures are growing in day-to-day clinical routine. Plastic surgeons are also becoming more willing to explore them, and minimally invasive cosmetic and aesthetic procedures are now an established interdisciplinary topic. Brazil ranks second in the top 10 countries by a number of aesthetic procedures.

According to the International Society of Aesthetic Plastic Surgery (ISAPS), Brazil performs the most aesthetic surgeries worldwide. For instance, as per ISAPS, the number of aesthetic procedures performed was 1,929,359 in 2020, out of which the total number of surgical procedures performed was 1,306,962. For the same year, the most common procedures such as breast augmentation procedures were recorded to be 172,485, liposuction was 173,420, abdominoplasty was 112,186, and eyelid surgery was 143,037. Due to the surge in surgical aesthetic procedures which deploys minimally invasive surgery devices, it is projected that the demand for the segment is likely to grow during the forecast period.

Additionally, advancements in technology, increasing product approvals, partnerships, and acquisitions by key players are helping in segment growth. For instance, in August 2020, Harley Technologies, the medical aesthetic equipment supplier, collaborated with Vydence Medical, a Brazil-based manufacturer of medical lasers for dermatology, vascular surgery, and plastic surgery. Harley Technologies was expected to launch Vydence's Etherea MX laser platform in the United Kingdom. This indicates the high demand of Brazil based aesthetic medical devices worldwide which is ultimately projected to augment the segment growth during the forecast period.

Competitive Landscape

The market studied is moderately consolidated in nature due to the presence of a few companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known. Some of the market players are Abbott Laboratories, GE Healthcare, Intuitive Surgical Inc., Koninklijke Philips NV, Medtronic Plc, Olympus Corporation, Siemens Healthineers, Smith & Nephew, Stryker Corporation, and Zimmer Biomet.

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