MIS Instruments Market Set to Reach USD 28.9 Billion by 2026
The global MIS instruments market is projected to surge from USD 20.2 billion in 2021 to USD 28.9 billion by 2026, reflecting a compound annual growth rate (CAGR) of 7.4% during the forecast period. This growth is primarily driven by the increasing volume of surgical procedures worldwide, the numerous advantages of MIS over traditional open surgeries, and the rising adoption of advanced robotics in ambulatory surgery centers (ASCs). However, the market faces challenges due to the high degree of consolidation among players and the significant capital investments required.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=682
Key Market Segments and Insights
Dominance of Handheld Instruments
In 2020, the handheld instruments segment held the largest share of the MIS instruments market by product segment. The growth of this segment can be attributed to the cost-effectiveness of articulating laparoscopic handheld surgical instruments. These tools are extensively used in cardiothoracic, arthroscopy, urology, cardiovascular, and neurological surgeries.
Hospitals and Specialty Clinics Lead
The market is segmented by end user into hospitals and specialty clinics, and ambulatory surgery centers. In 2020, hospitals and specialty clinics dominated the market due to their substantial investments in lab automation and information management. These institutions are better equipped to conduct multiple tests, and countries like India and China are increasing the number of hospitals, further boosting the adoption of MIS instruments in these settings.
Leading Companies in the Market
Prominent players in the MIS instruments market include:
Medtronic plc (Ireland)
Johnson & Johnson (US)
Stryker Corporation (US)
Abbott Laboratories, Inc. (US)
Boston Scientific Corporation (US)
B. Braun Melsungen AG (Germany)
CONMED Corporation (US)
Smith & Nephew plc (UK)
Zimmer Biomet Holdings, Inc. (US)
Becton, Dickinson and Company (US)
The Cooper Companies Inc. (US)
HOYA Corporation (Japan)
Surgical Innovations Group plc (UK)
Koninklijke Philips N.V. (Netherlands)
FUJIFILM Holdings Corporation (Japan)
KARL STORZ SE & Co. KG (Germany)
Applied Medical Resources Corporation (US)
KLS Martin Group (Germany)
Scanlan International, Inc. (US)
Wexler Surgical (US)
STRAUSS SURGICAL (US)
AMNOTEC International Medical GmbH (Germany)
EndoMed Systems GmbH (Germany)
TROKAMED GmbH (Germany)
Surgical Holdings (UK)
Medtronic plc: Market Leader
In 2020, Medtronic plc held the leading position in the MIS instruments market. The company maintains its leadership through a robust distribution network across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Medtronic employs inorganic growth strategies to bolster its market dominance. For instance, the acquisition of Titan Spine in June 2019 enhanced Medtronic’s portfolio in spine surgery procedural solutions, reinforcing its market presence.
Request Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=682
Regional Growth Insights
Rapid Growth in the Asia Pacific
The Asia Pacific region is anticipated to be the fastest-g
rowing market for MIS instruments during the forecast period. Factors contributing to this growth include a rising incidence of chronic diseases, an increasing number of hospitals and healthcare professionals, improved affordability, a large patient population, booming medical tourism, and favorable government policies. Additionally, the region's regulatory environment is more adaptive and business-friendly compared to developed countries, attracting key market players.
Conclusion
The outlook for the global minimally invasive surgical instruments market remains positive, driven by the increasing adoption of MIS techniques, technological advancements, and the growing burden of chronic diseases. As established players continue to lead, emerging markets, particularly in the Asia Pacific region, present significant growth opportunities. To maintain and strengthen their market positions, companies must focus on innovative technologies and strategic partnerships.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com