Market Overview
The world is witnessing a rapidly rising incidence of Gastrointestinal (GI) disorders like IBS (Irritable Bowel Syndrome), GERD (Gastroesophageal Reflux Disease), Inguinal Hernia, Celiac Disease, Diarrhea, and Constipation, among others. These diseases are chronic & highly prevalent and bring significant impairments in quality of life. As a result, there's a mounting need for new GI therapeutics like Minimally Invasive Surgeries (MIS), particularly laparoscopy & robotic surgeries, which involve small incisions, more precision & safety, faster recovery, & less pain in order to cater to the high unmet needs of patients with such ailments.
Market Insights
The Global Minimally Invasive Gastrointestinal Surgical Systems Market is projected to grow at around 7% CAGR during 2022-27. Most of the market expansion would be driven by the mounting incidence & recurrence of GI diseases worldwide, such as colorectal cancer, GERD, hernia, and inflammatory bowel syndrome (IBS), i.e., due to unhealthy eating habits & changing lifestyles of people. Besides, the rising elderly population globally, which is most prone to these illnesses, is also significantly contributing to the market growth.
Moreover, rising intricacies in clinical decision-making, the immense burden on radiologists, massive investments in R&D & healthcare infrastructure development, and the growing number of promising results in minimally invasive surgeries are further boosting the market.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 7% |
| Regions Covered | North America: The US, Canada |
| Europe: Germany, The UK, France, Italy, Spain, Rest of Europe | |
| Asia-Pacific: China, Japan, India, South Korea, Australia, Rest of Asia Pacific | |
| Rest of the World | |
| Key Companies Profiled | B. Braun Melsungen AG, Conmed Corporation, Karl Storz SE & Co. KG, Medtronic plc, Olympus Corporation, Stryker Corporation, TransEnterix, Inc, Boston Scientific Corporation, Cook Medical, Inc, Richard Wolf GmbH, Intuitive Surgical, Inc, Ambu A/S, Schölly Fiber Optic GmbH, Xenocor, Inc, Fujifilm Holdings Corporation, Pentax Medical (Hoya Corporation) |
| Unit Denominations | USD Million/Billion |
Minimally invasive gastrointestinal surgeries are as effective as conventional surgical systems, and, in fact, they promise to provide even better outcomes in some instances. They involve less pain, rapid recoveries, and reduced risks of wound complications, including scar tissue formation, hernias, or other related infections. As a result, the rising awareness among patients of these benefits is leading to frequent hospital visits for GI treatment and, in turn, indicating new directions for the Global Minimally Invasive Gastrointestinal Surgical Systems Market to expand notably in the coming years.
However, the uncertain regulatory framework, significantly high costs of minimally invasive surgeries, lack of skilled professionals, inadequate or limited reimbursement policies for surgical procedures, and long waiting queues for patients across most regions worldwide are the major growth restraints to the Global Minimally Invasive Gastrointestinal Surgical Systems Market during 2022-27.
