Minimally Invasive Surgery Market Demand, Growth, Segmentation and Forecast 2022-2027
The rising prevalence of chronic diseases, along with the expanding geriatric population, is primarily driving the minimally invasive surgery market.
Minimally Invasive Surgery Market Outlook
Minimally invasive (MI) surgery stands for the technique used to limit the number of incisions and cuts made during a surgical process. In this method, healthcare providers utilize small tools, such as endoscopes or mini cameras, which are attached to a slender pipe to move through tiny incisions made in the body.
The global minimally invasive surgery market reached a value of US$ 46.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 70.7 Billion by 2027, exhibiting a CAGR of 7.39% during 2022-2027.
This aids in mapping out endoscopic images, allowing the surgeon to have a clearer vision of the surgical area. Minimally invasive surgeries have gained traction across the globe as they enable routine medical processes to be carried out precisely and safely using specialized tools.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Minimally Invasive Surgery Market Trends:
The rising prevalence of chronic diseases, along with the expanding geriatric population, is primarily driving the minimally invasive surgery market. Furthermore, the growing investments made by the government bodies in the healthcare sector and the increasing per capita medical expenditures are also propelling the market growth. In addition to this, MI surgeries are considered a safer alternative than conventional open surgeries, resulting in their escalating adoption by healthcare professionals, which is acting as another significant growth-inducing factor.
Moreover, the inflating need to ensure reduced hospital stay durations while lowering the chances of patient trauma and complications are further catalyzing the market growth. Besides this, the elevating incidences of lifestyle diseases, cardiac illnesses, cancer, etc., are expected to stimulate the minimally invasive surgery market in the coming years.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
The report has also analysed the competitive landscape of the market with some of the key players.
- Zimmer Biomet Inc.
- Medtronic Inc.
- GE Healthcare
- Eximis Surgical
- Stryker Corporation
- Arthrex, B. Braun
- Bauer Medical
- Cook Medical
- OmniGuide, Inc.
- Orthofix Holdings,Inc
- Philips Healthcare
- RF System
- Smith & Nephew
- Virtual Ports
Key Market Segmentation:
The report has categorized the market based on product type, application and end-user.
Breakup by Product Type:
- Surgical Devices
- Laparoscopy Devices
- Monitoring and Visualization Devices
Breakup by Application:
- Bariatric Surgery
- Breast Surgery
- Cardiac Surgery
- Cosmetic Surgery
- Gastrointestinal Surgery
- Gynaecological Surgery
- Orthopedics and Spine Surgery
- Thoracic Surgery
Breakup by End-User:
Breakup by Region:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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