(Health-NewsWire.Net, November 16, 2022 ) Projected Surge in Revenue Generation:
The global Minimally Invasive Surgical Instruments Market is projected to reach USD 28.9 billion by 2026 from USD 20.2 billion in 2021, at a CAGR of 7.4%.
Major Growth Influencing Factors:
The market growth is driven by factors such as the increasing number of surgical procedures being conducted worldwide and the various advantages offered by minimally invasive surgical procedures.
The handheld instruments segment accounted for the largest share of the minimally invasive surgical instruments market, by product segment, in 2020
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. The growth of the handheld instruments segment can be attributed to the low cost of articulating laparoscopic handheld surgical instruments. These instruments are commonly used in applications such as cardiothoracic, arthroscopy, urology, cardiovascular, and neurological surgeries.
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The hospitals and specialty clinics segment accounted for the largest share of the minimally invasive surgical instruments, by end user segment, in 2020
The minimally invasive surgical instruments market is segmented into hospitals and specialty clinics and ambulatory surgery centers. In 2020, the hospitals and specialty clinics segment accounted for the largest share of the minimally invasive surgical instruments market. Hospitals and specialty clinics have larger investments in lab automation and information management as compared to other end users. They are well-equipped to carry out multiple tests. Owing to such advantages, economies like India and China are focusing on increasing the number of hospitals in their respective healthcare systems. Therefore, the adoption of minimally invasive surgical instruments is higher in hospitals and specialty clinics.
Geographical Growth Dynamics:
North America is the largest regional market for minimally invasive surgical instruments market
The global minimally invasive surgical instruments market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share of the minimally invasive surgical instruments market in 2020. The presence of major players such as Medtronic plc, Johnson & Johnson, Stryker Corporation, and Abbott Laboratories, Inc. in this region also supports growth in the minimally invasive surgical instruments market.
The major players operating in this market are 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), and Surgical Holdings (UK).
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