2024 Minimal Invasive Surgery Devices Market Summary: 5 Key Findings
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What Growth Projections are in Place for the Minimal Invasive Surgery Devices Market Between 2024-2033?
The market size for minimally invasive surgical devices has seen a swift expansion in the previous years. The crests are projected to rise further from $36.6 billion in 2023 to $40.42 billion in 2024, marking a compound annual growth rate (CAGR) of 10.5%. This impressive growth in the historical era can be credited to an increase in chronic diseases, an ageing population, a rising incidence of obesity, and a growing preference for natural orifice transluminal endoscopic surgery.
Anticipations are high for the minimal invasive surgery devices market size to experience quick growth in the coming few years. By 2028, the market could potentially reach a value of $59.17 billion, growing at a substantial compound annual growth rate (CAGR) of 10.0%. The expected growth during this forecast period could be due to several factors such as the worldwide expansion of healthcare, an increasing trend towards patient-centric care, patients’ preference for less invasive procedures, and the training and expertise of surgeons. Some of the primary trends identified for this forecast duration include the integration of robotics and AI, the advent of remote surgery and telesurgery, single-incision surgery, natural orifice surgery, along with the rise of 3D printing and customized devices.
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What Are the Major Factors Contributing to the minimal invasive surgery devices Market Expansion?
The rising awareness about less invasive surgeries among individuals is triggering the growth of the minimally invasive surgery devices market. With the minimally invasive approach, the incisions/cuts made in the skin are significantly minor than the ones in standard surgical practices leading to reduced pain, scarring, hospital stays and lowered risks of bleeding & infections along with diminished tissue damage. As reported by the German Heart Surgery, the extracorporeal circulation (ECC) based heart surgeries have decreased due to the successful implementation of innovative minimally invasive heart surgery options. Moreover, 51.1% of the cardiac surgical procedures conducted in Germany were executed using the single-valve method, wherein 38.5% accounted for minimally invasive heart surgeries. Therefore, the escalating demand for minimally invasive surgery (MIS) will invariably catapult the demand for the minimally invasive surgical devices market.
Which Key Segments Shape the Minimal Invasive Surgery Devices Market?
1) By Product Type: Handheld Instruments, Inflation Devices, Cutter Instruments, Guiding Devices, Electrosurgical Devices, Auxiliary Devices, Monitoring & Visualization Devices
2) By Application: Laparoscopy, Cardiovascular, Cosmetic Surgery, Orthopedic Surgery, Obstetrics And Gynecology, Ophthalmology, Neurosurgery, Urology, Other Applications
3) By End Users: Hospitals, Ambulatory Surgical Centers (ASCS), Research Institutes
What Are the Transformative Trends Influencing the Minimal Invasive Surgery Devices Market?
Modern technology has dramatically improved minimally invasive surgery (MIS) devices, with advancements in image guidance, fiber-optics, mini dental implants, and robotic control systems becoming increasingly popular among patients seeking treatment for various medical conditions, including aneurysms, cardiac issues, dental and spinal procedures. These less invasive surgical techniques offer enhanced imaging, precise micromachining, robotic equipment and components, software systems, among other features, transforming the healthcare industry. One example of this is Video-Assisted Thoracoscopic Surgery (VATS), a MIS technique utilized to extract human body organs to treat trauma, infection, or lung cancer. VATS incorporates a video camera attached to a small tube, known as a thoracoscope, which is inserted through a tiny incision in the ribcage. Moreover, virtual reality (VR) is a booming area in the development of imaging technology for MIS. Other MIS methods, including single-site laparoscopic surgery, robotic surgeries, needlescopic surgery, and cardiac and spinal surgeries are also widely utilized.
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What Regions Are Leading the Growth Trajectory of the Minimal Invasive Surgery Devices Market?
North America was the largest region in the minimally invasive surgery devices market in 2023. Western Europe was the second-largest region in the global minimally invasive surgery devices market analysis. The regions covered in the minimal invasive surgery devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The Minimal Invasive Surgery Devices Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the minimal invasive surgery devices market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Minimal Invasive Surgery Devices Market Include
1. Minimal Invasive Surgery Devices Market Executive Summary
2. Minimal Invasive Surgery Devices Market Segments
3. Minimal Invasive Surgery Devices Market Size And Template Market Growth Rate
4. Key Minimal Invasive Surgery Devices Market Trends
5. Major Minimal Invasive Surgery Devices Market Drivers
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25. Key Mergers And Acquisitions In The Minimal Invasive Surgery Devices Market
26. Top Minimal Invasive Surgery Devices Companies
27. Minimal Invasive Surgery Devices Market Opportunities And Strategies
28. Minimal Invasive Surgery Devices Market, Conclusions And Recommendations
29. Appendix
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