Market Growth Factors –
According to research report MIS Instruments Market is expected to grow from USD 20.1 billion in 2019 to USD 32.7 billion by 2025, at a CAGR of 8.5%. The advantages of minimally invasive surgeries over traditional open surgeries and the increasing number of minimally invasive surgical procedures across the globe are the key factors driving market growth.
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Top Segments –
Handheld instruments accounted for the largest share of the global MIS instruments market in 2018.
Based on product, the MIS instruments market is segmented into handheld instruments, inflation devices, surgical scopes, cutting instruments, guiding devices, electrosurgical & electrocautery instruments, and other instruments. Handheld instruments accounted for the largest share of the MIS instruments market in 2018, owing to factors such as the increasing number of surgical procedures and the development of high-dexterity, low-cost articulating laparoscopic handheld surgical instruments.
By type of surgery, the cardiothoracic surgery segment accounted for the largest share of the global MIS instruments market in 2018.
Based on type of surgery, the global MIS instruments market is divided into cardiothoracic surgery, gastrointestinal surgery, orthopedic surgery, gynecological surgery, cosmetic & bariatric surgery, urological surgery, and other surgeries. The cardiothoracic surgery segment accounted for the largest share of the global MIS instruments market in 2018. The large share of this segment can be attributed to the rising prevalence of cardiac diseases, growing awareness about the benefits of early detection of cardiovascular complications, the growing number of coronary and percutaneous cardiology interventions, and increasing adoption of MIS instruments owing to their convenience and better results as compared to other techniques.
The hospital segment accounted for the largest share of the global MIS instruments market in 2018.
Based on end user, the global MIS instruments market is divided into hospitals and ambulatory surgery centers & clinics. The hospitals segment accounted for the largest share of the MIS instruments market in 2018 due to the large number of minimally invasive surgical procedures performed in hospitals owing to the presence of highly skilled healthcare professionals.
Geographic Overview –
North America accounted for the largest share of the market in 2018.
In 2018, North America accounted for the largest share of the global MIS instruments market, followed by Europe. The large share of the North American market can be attributed to the large volume of surgical procedures performed in North American countries due to early diagnosis and treatment, high cost of procedures as compared to developing regions, increasing number of surgical centers, and growing adoption of minimally invasive surgical techniques.
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Top Players –
The major companies in the global MIS instruments market include Medtronic plc (Ireland), Johnson & Johnson (US), Stryker Corporation (US), B. Braun Melsungen AG (Germany), Smith & Nephew plc (US), Boston Scientific Corporation (US), and CONMED Corporation (US).
