According to research report the global 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% during the forecast period.
Market
growth is largely driven by factors such as the advantages of minimally
invasive surgeries over traditional open surgeries and the increasing
number of minimally invasive surgical procedures across the globe.
However, the uncertain regulatory framework in the medical device
industry is a major factor restraining the growth of this market during
the forecast period.
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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 devices 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 minimally
invasive surgical 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 devices 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 minimally invasive surgical instruments market in 2018.
Based
on end user, the global MIS devices market is divided into hospitals
and ambulatory surgery centers & clinics. The hospitals segment
accounted for the largest share of the 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.
The
major companies in the 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).
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The
MIS instruments market is divided into four major regions—North
America, Europe, Asia Pacific, and the Rest of the World (RoW). North
America accounted for the largest share of the global minimally invasive
surgical 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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