Minimally Invasive Surgical Instrument Market to Surpass US$ 21.1 Billion by 2026 - Coherent Market Insights

Published On : Mar 04, 2019

Global Minimally Invasive Surgical Instrument Market, By Product Type (Handheld Instruments, Electrosurgical Instruments, Guiding Devices, Inflation Devices, and Monitoring Devices), By Application (Cosmetic Surgery, Urology, Gynecology, Ophthalmology, Gastrointestinal Surgery, Cardiovascular Surgery, Respiratory Surgery, and Others), By End User (Hospital, Clinics, and Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 12.8 billion in 2017, and is projected to exhibit a CAGR of 6.1% over the forecast period (2018 - 2026), as highlighted in a new report published by Coherent Market Insights.

The minimally invasive surgical instrument market is expected to witness significant growth over the forecast period, owing to continuous technological advances in minimally invasive surgical instruments for ease of patients as well as surgeons during the surgical procedure. These instruments are equipped with high end cameras, imaging technology, robotics etc. For instance, Olympus Corporation and Sony in partnership launched an Ultra-HD surgical endoscopy system incorporating 4K technology 2015, in Japan and Europe, soon after launch of 4K recorder in 2016. The 4K camera head uses the Sony Exmor R CMOS image sensor to create high-sensitivity and low-noise images. It also features a one-touch auto-focus function that instantly focuses the image at the press of a button, which helps to shorten surgery times. The advanced laparoscopes, with employment of 4K cameras have eliminated the requirement for the surgeon to look into the binocular eyepiece, minimizing discomfort and stress. For cauterization, radiofrequency ablation systems and argon-enhanced electrosurgery allow efficient current delivery for improved outcomes and decreased operation time. Lasers are also used sometimes for ablating tissues or tumors.

Manufacturers are focusing on developing more innovative and convenient minimally invasive instruments, as these are used for less incisions, pain and fast recovery. For instance, staplers and endoscopic suturing devices such as the MicroCutter XCHANGE by Cardica, have allowed the performance of operations such as hemostatic bowel transection, closure of gastrostomy and sudden anastomosis with increasing reliability, and have provided better performance compared with manual stitching or clips.

Robotics offer unmatched solutions for minimally invasive surgeries. In robotic-assisted surgery, instruments are not moved through necessary controllers and software and not directly by the surgeon. For instance, the robotic surgical system da Vinci SP by Intuitive Surgical, which is the first and only console for teleoperated surgery received the Food and Drug Administration (FDA) approval. It has been adopted in hospitals and clinics worldwide for operations that range from urological to cardiac to abdominal surgery. There are many robotic minimally invasive surgical instruments in pipeline to be launched in 2019 and 2020. For instance, the companies' joint-venture, Verb Surgical, is aiming to launch a surgical robotic instruments in 2020, which can connect to the internet and learn from others. Medtronic PLC., also has a surgical robot due to launch in 2019.

Browse 26 Market Data Tables and 24 Figures spread through 174 Pages and in-depth TOC on "Minimally Invasive Surgical Instrument Market, By Product Type (Handheld Instruments, Electrosurgical Instruments, Guiding Devices, Inflation Devices and Monitoring Devices), By Application (Cosmetic Surgery, Urology, Gynecology, Ophthalmology, Gastrointestinal Surgery, Cardiovascular Surgery, Respiratory Surgery and  Others), By End User (Hospital, Clinics, and Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026"

To know the latest trends and insights related to minimally invasive surgical instruments, click the link below:

https://www.coherentmarketinsights.com/market-insight/minimally-invasive-surgical-instrument-market-2526

Key Takeaways of the Minimally Invasive Surgical Instruments Market:

  • The global minimally invasive surgical instruments market is expected to expand at a CAGR of 6.1% during the forecast period (2018–2026), owing to increasing research & development and demand for minimally invasive surgical instruments in the ambulatory surgeries and outpatient surgeries.
  • Among product type, handheld instruments accounted for largest share in 2017, in device segment in terms of revenue. After handheld instruments, electrosurgical devices are expected to witness the fastest CAGR during the forecast period. Companies are concentrating in creating more innovative and useful devices, which can benefit both surgeons and patients in a cost–effective manner associated with less pain and fast recovery.
  • Major players operating in the global minimally invasive surgical instrument market include Medtronic Plc., Ethicon Inc., Aesculap Inc., Stryker Corporation, B. Braun Melsungen Ag and Smith & Nephew Plc. Other players in this market are ConMed Corporation, Abbott Laboratories, Applied Biomedical Resources Corporation, Boston Scientific Corporation, Microline Surgical, Alcon Laboratories Inc., and Zimmer Biomet Holdings Inc.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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