Minimally Invasive Surgical Instrument Market

1. Minimally Invasive Surgical Instrument Market Due to the benefits of minimally invasive surgeries over conventional open surgeries and the rising prevalence of lifestyle related diseases, the worldwide minimally invasive surgical instrument market is growing at a considerable pace. Other products, such as inflation systems, auxiliary instruments, portable instruments, cutting instruments and electrosurgical equipment, led to the size of the market for minimally invasive surgical instruments. By Product, the market is subdivided into inflation systems, auxiliary instruments, handheld instruments, cutter instruments, electrosurgical devices, and guiding devices. Electrosurgical devices segment is expected to grow at the fastest rate in the market due to its elevated recognition among physicians for controlling blood loss during surgical procedure. By application, the market is subdivided into cardiothoracic surgery, gynaecological surgery, urological surgery, gastrointestinal surgery, cosmetic/bariatric surgery, orthopedic surgery, vascular surgery, and others. The orthopaedic surgery application accounted the largest share in the minimally invasive surgical instrument market. By end user, the market is segmented into private hospitals and surgical clinics, academic and research institutes, and government hospitals. The private hospitals and surgical clinics accounted the largest share in the minimally invasive surgical instrument market. The key growth factors for the minimally invasive surgical instrument market are the advantages of minimally invasive surgery over conventional open surgeries, technical innovation, the expansion of the geriatric population, the growing prevalence of lifestyle- related diseases, the increasingly increasing demand for minimally invasive surgical procedures, and the reduction of healthcare costs and time. Growth in the minimally invasive surgical instrument market is also encouraged by the improved alertness of technologically innovative MIS instruments and procedures and efforts to minimise increasing healthcare spending. Lack of skilled surgeons, limited reimbursement, stringent regulatory framework are the major challenges for the growth of minimally invasive surgical instrument market. Recent News: In February 2018, Stryker Corporation acquired Entellus Medical, to improve its product portfolio. Competitive Insights: Medtronic PLC, Smith & Nephew PLC, Johnson & Johnson, Conmed Corporation, Stryker Corporation, Hoya Corporation, B. Braun Melsungen Ag, Applied Medical Resources Corporation, and Zimmer Biomet Holdings, Inc. are the key players offering minimally invasive surgical instrument.

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