Minimally Invasive And Non Invasive Product And Service Market Analysis: Key Insights on Growth Rates, Trends, and Major Opportunities
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What CAGR Will the Minimally Invasive And Non Invasive Product And Service Market Achieve During 2025–2034, and What Does It Indicate?
In recent years, there has been substantial growth in the market size of minimally invasive and non invasive products and services. Projected to rise from $140.65 billion in 2024 to $149.97 billion in 2025, it will enjoy a compound annual growth rate (CAGR) of 6.6%. The accelerated growth during the historical period can be ascribed to factors such as the impact of early adopters, collaboration and research within the industry, changes and approvals in regulations, and shifting patient expectations.
The market size of minimally invasive and non-invasive product and services is forecasted to experience significant expansion in the upcoming years, projecting a growth to $202.73 billion by 2029 with a compound annual growth rate of 7.8%. This anticipated growth can be linked to factors such as increased medical expenses, changes in consumer preferences, changes in regulations and approvals, improvements in education and training, market amalgamation, and competitive forces. Key trends likely to be visible during this forecast period include an increase in cosmetic and aesthetic procedures, tailored medical treatment, emphasis on outpatient services, application expansion, and infusion of AI and robotics.
How Are the key drivers expanding the growth of the minimally invasive and non invasive product and service Market?
The growth of the minimally invasive and non-invasive product and service market is anticipated to be fueled by the escalating elderly population. This demographic refers to those aged 65 and above who have retired from employment. As age progresses, the burgeoning elderly populace necessitates an upsurge in the demand for non-invasive products and procedures, such as hearing aids and external splints. For example, the World Health Organization, an international public health entity based in Switzerland, projected in October 2022 that the worldwide population of people aged 60 years will rise to 1.4 billion by 2022 from 1 billion in 2020. In addition, by 2030, one in every six people globally will be aged over 60 years. Hence, the mounting elderly population is catalyzing the expansion of the minimally invasive and non-invasive product and service market.
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Who Are the Key Firms Paving the Way for Growth in the Minimally Invasive And Non Invasive Product And Service Market?
Major companies operating in the minimally invasive and non invasive product and service market include:
• Medtronic Plc_x000D_
• Integra LifeSciences Corporation_x000D_
• NuVasive Inc._x000D_
• Olympus Corporation_x000D_
• Smith & Nephew Plc_x000D_
What Are the Most Influential Trends Currently Shaping the Minimally Invasive And Non Invasive Product And Service Market?
A leading trend growing in significance within the ambit of minimally invasive and non-invasive product and service market is the deployment of innovative technologies in surgical procedures. To maintain their competitive leverage, key market participants are focusing on cutting-edge technologies. For instance, in December 2022, the US-based global medical device and healthcare company, Abbott Laboratories, introduced its latest model of transcatheter aortic valve implantation (TAVI) system. Named the Navitor valve, it possesses a distinctive design that prevents blood leakage around it, thus enhancing the effectiveness of TAVI treatments. This system is the most recent enhancement to Abbott’s suite of transcatheter solutions, providing physicians and patients with a less invasive option for addressing heart conditions.
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What Are the Core Segments of the Minimally Invasive And Non Invasive Product And Service Market, and How Do They Contribute to Growth?
The minimally invasive and non invasive product and service market covered in this report is segmented –
1) By Type: Surgical Devices, Electrosurgical Devices, Imaging Devices, Robotic Systems, Other types
2) By Technology: Non-Visual imaging, Transcatheter Surgery, Laparoscopic Surgery
3) By Application: Cardio Thoracic Surgery, Vascular Surgery, Neurological Surgery, Cosmetic Surgery, Gastrointestinal Surgery, Dental Surgery
4) By End-User: Hospital Surgical Departments, Outpatient Surgical Centers, Group Practices, Individual Surgeons, Medical Schools, Other End-Users
Subsegments:
1) By Surgical Devices: Endoscopes, Laparoscopic Instruments, Trocars, Surgical Staplers
2) By Electrosurgical Devices: Monopolar Electrosurgical Devices, Bipolar Electrosurgical Devices, Electrosurgical Generators
3) By Imaging Devices: Ultrasound Machines, MRI Machines, CT Scanners, X-ray Machines
4) By Robotic Systems: Surgical Robotic Systems, Robotic-Assisted Laparoscopic Systems, Robotic Rehabilitation Devices
5) By Other Types: Non-Invasive Monitoring Devices, Drug Delivery Systems, Wound Care Products
Which Regions Are Essential for the Growth of the Minimally Invasive And Non Invasive Product And Service Market?
North America was the largest region in the minimally invasive and non invasive product and service market in 2024. The regions covered in the minimally invasive and non invasive product and service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Key Elements Shape the Definition of the Minimally Invasive And Non Invasive Product And Service Market?
Minimally invasive and non-invasive products and services refer to medical devices and therapeutics that don’t enter the body, and such procedures do not use instruments that directly penetrate the body or breach the skin. These products and services are used to make several surgeries dramatically safer and more tolerable.
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