Minimally Invasive Surgical Systems Market Size to Reach USD 41.16 Billion in 2028 Growing at a CAGR of 8.1%, according to Emergen Research
Emergen Research has published its latest report titled “Minimally Invasive Surgical Systems Market By Device Type (Handheld Devices, Cutter Devices, Inflation Devices, Electrosurgical Devices, Monitoring and Visual Devices, Guiding Devices, Auxiliary Devices), By Surgery Type (Gastrointestinal Surgery, Cardiovascular Surgery, Orthopedic Surgery, Urological Surgery, Cosmetic Surgery, Neurological Surgery), By End-Use (Hospitals, Specialty Clinics, Ambulatory Surgical Centers), and By Region Forecast to 2028”
According to Emergen Research, the global minimally invasive surgical systems market size was USD 21.98 Billion in 2020 and is expected to reach USD 41.16 Billion in 2028 and register a revenue CAGR of 8.1% during the forecast period, 2021-2028.
Minimally invasive surgery became popular in 1980s as a safe and effective way to address the medical demands of a broad group of individuals. Many surgeons have come to prefer it to traditional (open) surgery in the last few years, which needs larger incisions and, in most cases, a longer hospital stay. Minimally invasive surgical systems reduce complications, minimize blood loss, cause less scarring and pain, have lower risk of infection and require shorter hospital stay. Unlike traditional open surgery, the patient heals faster and experiences less discomfort since the physician makes smaller incisions. Along with these advantages, minimally invasive surgery is becoming increasingly popular among patients undergoing general surgery, colorectal surgery gynecological surgery, urogynecological surgery and bariatric surgery in multiple specialties. This is a key factor expected to fuel market revenue growth during the forecast period.
Increasing demand for 3D printed dental prostheses, and technological advancements in healthcare sector opens up wider scope for minimally invasive surgery (MIS). Robotic technology is used in some MIS, allowing for more accurate control over the surgical procedures. The Da Vinci Xi Robot is the next step in minimally invasive surgery, combining the most advanced assisted surgical technology to make it easier to reach difficult-to-reach places. This robot can be used in thoracic surgery, gynecological, hernia repair, pelvic floor, abdominal and urological procedures including colorectal, gall bladder, and various procedures. However, high capital investment required for minimally invasive surgical robotic systems, lack of skilled professionals and unfavorable government relations are some factors expected to restrain minimally invasive surgical systems market over the forecast period.
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COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Electrosurgical Devices Segment Revenue to Expand at a Rapid CAGR:
Electrosurgical devices segment is expected to register a rapid revenue CAGR over the forecast period. Electrosurgical devices are widely used in a variety of surgical specialties, owing to their ability to make precise incisions with minimal/no blood loss. Electrosurgical devices have a significant advantage over electrocautery devices in terms of reducing tissue damage due to their excellent precision.
Cardiovascular Surgery Segment to Register Significant Revenue Growth:
Cardiovascular surgery segment is expected to register significant revenue growth over the forecast period attributed to increasing cases of cardiovascular diseases globally. According to recent report by World Health Organization (WHO), cardiovascular diseases are the leading cause of death worldwide, claiming the lives of an estimated 17.9 million people per year. Heart attacks and strokes account for more than four out of every five CVD deaths, with one-third of these deaths occur prematurely under the age of 70.
North America to Account for Largest Revenue Share:
North America is expected to account for largest revenue share in the global market over the forecast period due to adoption of advanced robotics in healthcare sector, increasing prevalence of chronic diseases, and growing awareness regarding the benefits of minimally invasive surgical systems over open surgical methods. In addition, growing demand for cosmetic surgeries and rising disposable income are some factors expected to contribute to market growth in the region.
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Major Companies in the Market Include:
- Stryker Corporation
- Abbott Laboratories
- Medtronic PLC
- Boston Scientific Corporation
- Johnson & Johnson
- OmniGuide Holdings Inc.
- B. Braun Melsungen AG
- Dickinson and Company
- CONMED Corporation
- Hoya Corporation
For the purpose of this report, Emergen Research has segmented the global minimally invasive surgical systems market on the basis of device type, surgery type, end-use, and region:
Device Type Outlook (Revenue, USD Billion; 2018–2028)
- Handheld Devices
- Cutter Devices
- Inflation Devices
- Electrosurgical Devices
- Monitoring and Visual Devices
- Guiding Devices
- Auxiliary Devices
Surgery Type Outlook (Revenue, USD Billion; 2018–2028)
- Gastrointestinal Surgery
- Cardiovascular Surgery
- Orthopedic Surgery
- Urological Surgery
- Cosmetic Surgery
- Neurological Surgery
End-Use Outlook (Revenue, USD Billion; 2018–2028)
- Specialty Clinics
- Ambulatory Surgical Centers
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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