Minimally Invasive Surgical Instrument Market

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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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