Minimally Invasive Surgical Instruments Market : Challenges, Opportunities and Trends Fueling the Growth
The advantages of MIS over open surgical techniques, the increasing adoption of advanced robotics in ASCs, and the increasing number of surgical procedures worldwide are the major factors driving the minimally invasive surgical instruments market growth.
According to latest research report the global minimally invasive surgical instruments market size is projected to reach USD 28.9 billion by 2026 from USD 20.2 billion in 2021, at a CAGR of 7.4% during the forecast period
Based on product, the minimally invasive surgical instruments market is segmented into handheld instruments, inflation devices, surgical scopes, cutting instruments, guiding devices, electrosurgical electrocautery instruments, and other instruments. In 2020, the handheld instruments accounted for the largest share of the MIS instruments market. The large share of this segment can mainly be attributed to factors such as the increasing number of surgical procedures, the low cost of articulating laparoscopic handheld surgical instruments, and the rising technological innovations in handheld instruments. However, electrosurgical electrocautery instruments are expected to be the fastest-growing product segment during the forecast period because of the high usage volume of disposable and reusable electrosurgical instruments.
Opportunity: Emerging markets
Emerging economies such as India, South Korea, Malaysia, Vietnam, Africa, and Middle Eastern countries such as Israel, Saudi Arabia, and the UAE offer significant growth opportunities to major market players. This can be attributed to their low regulatory barriers, rising healthcare expenditure and improvements in healthcare infrastructure, growing patient population. In addition, the regulatory policies in the Asia Pacific region are more adaptive and business-friendly than those in developed countries. This, along with the increasing competition in mature markets, has drawn key players in the minimally invasive surgical instruments market to focus on emerging countries.
This study involved four major activities in estimating the current size of the minimally invasive surgical instruments market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate segments and subsegments' market size.
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Report Highlights
1. Changes in the scope of the market:
• In this edition of the report, the market size and forecast for Latin America and the Middle East Africa and countries like, Italy, Spain, China, Japan, and India have been provided.
2. More Refined Presentation of the Market Dynamics:
Added COVID- 19 Impact analysis on the mis instruments market in the research methodology, product, type of surgery, end user, and the region-wise impact in the regional chapter.
3. More Refined Presentation of the Competitive Landscape and Recent Market Developments:
We have added market shares for top players. Recent developments are helpful to know the market trends and growth strategies adopted by players in the market. The report provides updated developments in product launches, collaboration, acquisitions, and partnerships.
4. Additional Information: The current edition of the report covers pricing analysis, value chain analysis, supply chain analysis, case study analysis, ecosystem analysis, patent analysis, trade analysis, regulatory landscape, technology analysis, ranges/scenarios, trends/disruptions impacting the business of customers, and Porter’s five forces analysis in the market overview chapter. This edition also covers the product and geographical footprint of the key players in the competitive landscape chapter.
Browse 237 market data Tables and 43 Figures spread through 274 Pages and in-depth TOC on "Minimally Invasive Surgical Instruments Market"
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