Wilmington, Delaware, United States, Jan. 16, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global minimally invasive surgery market was worth US$ 231.1 Bn in 2021. The global industry is expected to surpass value of US$ 324.9 Bn by 2031, expanding at a CAGR of 3.2% during the forecast period, from 2022 to 2031. New minimally invasive techniques have been made possible by scientific breakthroughs and technological developments in surgeries. Firms in the global minimally invasive surgery market are taking data-driven decisions before spending on novel device technologies in the wake of the COVID-19 outbreak.
Minimally invasive techniques have several advantages across a wide range of surgical disciplines, including lower inpatient hospital costs, rapid recovery, and so on. These benefits are estimated to support market development during the forecast period.
Robotics will probably make it possible for some treatments to be carried out more precisely and with fewer human interventions. It is now possible to make tools out of brand-new materials, such as memory metals that can be used to create heat-activated forceps or scissors. Less trauma and shorter hospital stays are attributed to minimally invasive surgeries. Development of newer, more minimally invasive technologies is influenced by all of these variables.
Surgeons can perform minimally invasive surgeries using techniques that reduce the amount of incisions or cuts that must be performed. Modern minimally invasive surgery equipment has completely changed these operations, which is anticipated to drive industry growth. Utilizing minimally invasive technologies has enhanced patient outcomes as well as recovery worldwide. Surgeons can enhance video imaging using minimally invasive and robotic techniques that give them voice control in a networked operating room.
Robotic surgery is the most recent advancement in minimally invasive surgery, giving surgeons access to precise tools that use the same tiny incisions as traditional laparoscopy. Ability of the robotic system to provide greater operating field visibility and precise control of minimally invasive surgical equipment is a key distinguishing feature.
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Key Findings of Market Report
- Based on procedure, the laparoscopic surgery category dominated the global market in 2020 and the trend is anticipated to continue during the forecast period. Widespread use of laparoscopic procedures to assist in the diagnosis of various medical diseases that develop in the pelvis or abdomen is likely to offer business opportunities in the segment. Furthermore, cutting-edge laparoscopic tools are utilized in surgical operations including removal of a damaged or diseased organ, or a tissue sample for further analysis (biopsy). Technological improvements in handheld equipment and significantly reduced cost of maintenance of laparoscopic handheld minimally invasive surgery tools are projected to boost the laparoscopic surgery segment throughout the forecast period.
- Market forecast estimates the transcatheter segment to expand at a high CAGR during the forecast period. Rising demand for transcatheter is ascribed to increase in transcatheter aortic valve implantation operations, which is expected to raise market value of minimally invasive surgery. Use of this procedure is expected to rise rapidly as the global population ages. The procedure is increasingly used for an elderly population due to its multiple benefits.
Global Minimally Invasive Surgery Market: Growth Opportunities
- Robot - assisted surgery is a highly advanced method that provides notable outcomes in a range of surgical operations. Robotic surgery's increasing uptake in minimally invasive procedures is credited to a variety of technical advancements, including the usage of highly efficient motors, power backup, advanced controls, small and light materials, and safety features, as well as more affordable models. High level of accuracy of robotic surgery makes it easier to place implants precisely and lowers the likelihood of damaging nearby tissues. Less bleeding & post-operative discomfort, and readmissions to hospital are additional advantages for patients. Improvements in surgical robotic systems are expected to drive the market in the coming years.
Global Minimally Invasive Surgery Market: Regional Landscape
- Europe held a significant market share of the global industry in 2020. A rise in number of elderly people in the region is expected to continue the trend during the forecast timeline. Nearly 19%, or one-fifth of the population of the European Union (EU) was 65 years of age or older in 2017, as per Eurostat.
- The minimally invasive surgery market in Latin America is projected to expand at a high CAGR during the forecast period. This growth is ascribed to a rise in prevalence of lifestyle-related and chronic diseases, technological advancements, and preference for less invasive procedures compared to traditional operations in Latin America.
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Global Minimally Invasive Surgery Market: Key Players
- University of Pittsburgh Medical Center
- Johnson & Johnson Services, Inc.
- Apollo Hospitals Enterprise Limited
- Washington Hospital Healthcare System
- Boston Scientific Corporation
- Medline Industries, Inc.
Global Minimally Invasive Surgery Market: Segmentation
Procedure
- Laparoscopic Surgery
- Robotic Surgery
- Endoscopic Mucosal Resection
- Endoscopic Submucosal Dissection
- Transcatheter
Disease Indication
- Orthopedic Surgery
- Cardiac Surgery
- General Surgery
- Urology Surgery
- Thoracic Surgery
- Gynecology Surgery
- Vascular Surgery
- Cancer Surgery
- Breast Surgery
- Ear, Nose, and Throat Surgery
- Bariatric Surgery
- Cosmetic/Plastic Surgery
- Neurosurgery
- Pediatric
- Others
End-user
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Others
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