Market Overview
Minimally Invasive Surgery involves surgical procedures performed through minute incisions instead of a large opening. Its benefits include shorter recovery time, fewer complications, and less pain.
According to the MarkNtel Advisors’ research report, "Global Minimally Invasive Surgical Systems Market Analysis, 2021," the market is likely to grow at a CAGR of around 7.6% during 2021-26, primarily due to the mounting geriatric population across the world. Additionally, the rising prevalence of cancer, cardiovascular diseases, and arthritis further propels the demand for minimally invasive surgeries as they involve minimal procedural trauma and fewer risks.
Further, snowballing adoption of robotic technology associated with precise control over the surgery coupled with fewer risks and higher efficiencies have resulted in higher success rates of minimally invasive surgical procedures, thereby boosting the overall market growth.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR (2021-2026) | 7.6% |
| Regions Covered | North America: USA, Canada |
| Europe: Germany, UK, France, Italy, Spain, Russia | |
| Asia-Pacific: China, India, Japan, South Korea | |
| South America: Brazil, Argentina, Mexico | |
| Middle East & Africa: UAE, Saudi Arabia, Israel | |
| Key Companies Profiled | Auris Health, Inc. (Johnson & Johnson), Boston Scientific Corporation, Cook Medical, Corindus Vascular Robotics Inc, Intuitive Surgical Inc, Medrobotics Corporation, Medtech SA (Zimmer Biomet Holdings, Inc.), Mazor Robotics Ltd., Olympus Corporation, Renishaw Plc, Restoration Robotics Inc, Smith & Nephew Plc, Stereotaxis Inc, Mako Surgical Corp (Stryker Corporation), Think Surgical Inc., TransEnterix, Inc., Richard Wolf GmbH, Pentax Medical (Hoya Corporation), Fujifilm Holdings Corporation, and Siemens Healthcare GmbH. |
| Unit Denominations | USD Million/Billion |
Impact of COVID-19
Due to the sudden outbreak of the Covid-19 pandemic, Global Minimally Invasive Surgical Systems Market has witnessed a positive impact. However, the lockdown imposed in the wake of the pandemic restricted the movement of people, resulting in longer waiting lists for surgeries due to surging patient footfall with diseases involving surgical treatment.
Further, open surgeries involve higher risks as people are then more susceptible to infections. Therefore, minimally invasive surgical systems are gaining wide popularity, and the overall market is likely to grow steadily in the forecast years.
