US Minimally Invasive Surgery Device Market - Segmented by Product Type, Technology, Application, and Geography - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

US Minimally Invasive Surgery Device Market - Segmented by Product Type, Technology, Application, and Geography - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The United States Minimally Invasive Surgery Devices Market is expected to register a CAGR of 6% during the forecast period. Some of the factors such as higher acceptance rate of minimally-invasive surgeries over traditional surgeries, increasing prevalence of lifestyle-related and chronic disorders, and technological advancements. are propelling the market growth. Chronic diseases are the leading cause of death and disability in the United States. As per the Centers for Disease Control and Prevention (CDC), in 133 million Americans, 45% of the population has at least one chronic disease. Chronic diseases are responsible for 7 out of every 10 deaths in the United States, killing more than 1.7 million Americans every year. Minimally-invasive surgeries (MIS) cause less post-operative pain, and hence, patients receive smaller dosages of painkillers. As there are minimal cuts or stitches involved, the hospital stay is relatively shorter, and patients need not visit the hospital frequently. Traditional open surgeries involve long incisions made through the muscles, and these muscles take a considerable amount of time to heal, whereas MIS procedures involve smaller incisions, leading to a quicker recovery. In addition, the body scars involved in MIS are barely noticeable. The main advantage of MIS over the traditional open surgeries is the higher precision due to video-assisted equipment, which produces a better and magnified image of the organs or body parts being operated. These surgeries are gaining wider acceptance among the geriatric population, due to the relatively shorter recovery time.

Key Market TrendsGastrointestinal Segment, under Application, is expected to be the Fastest Growing Segment over the Forecast Period.

The gastrointestinal segment is expected to be the fastest growing segment, owing to the rising incidence of gastrointestinal diseases in the young, adult, and geriatric groups, worldwide. Dyspepsia, irritable-bowel syndrome, and constipation are some of the examples of gastrointestinal disorders. Gastroesophageal reflux disease is also a prevalent form of the organic gastrointestinal disorder. Minimally-invasive surgery has gained popularity for benign diseases, and has proved its safety and efficacy over traditional methods, owing to which, it has gained substantial attention in the past several years. According to the data published by Centers for Disease Control and Prevention (CDC, 2018), there were 32.3 million of visits to physician offices, with diseases of the digestive system as the primary diagnosis in the United States. With the increase in the government’s continuous effort to improve the health of people, the number of gastrointestinal surgeries is bound to rise, which, in turn, may improve the scope for minimally-invasive devices meant for gastrointestinal surgery.

Competitive Landscape

The United States Minimally Invasive Surgery Devices Market is fragmented competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Abbott Laboratories, GE Healthcare, Intuitive Surgical Inc., Koninklijke Philips NV, Medtronic PLC, Olympus Corporation, Siemens Healthineers, Smith & Nephew, Stryker Corporation, Zimmer Biomet

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Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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