Global Minimally Invasive Surgical Systems Market Research Report: Forecast (2023-2028)
Minimally invasive procedures are becoming more popular among spine surgeons and patients as they cause less harm than open surgery. During such surgery, the physician inserts tiny instruments, cameras, and lights through inconspicuous skin incisions. These procedures ensure recovery while lessening post-operative discomfort and preventing blood loss and scarring.
Market Insights & Analysis: Global Minimally Invasive Surgical Systems Market (2023-28)
The Global Minimally Invasive Surgical Systems Market is projected to grow at a CAGR of around 7.5% during the forecast period, i.e., 2023-28. Due to faster recovery times, smaller incisions, less discomfort and scarring, better accuracy, and shorter hospital stays, minimally invasive surgical treatments are becoming more and more popular. In addition, medical displays enable greater visibility of diagnostic pictures by presenting even the smallest change in tissues and cells, resulting in precise and speedier procedures.
|Study Period||Historical Data: 2018-21|
|Base Year: 2022|
|Forecast Period: 2023-28|
|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|
With better instruments made possible by this field's ongoing technical breakthroughs, surgeons may carry out surgical procedures quickly and safely. In the operating room, the improved product designs offer a degree of control and accuracy. As a result, breast cancer, abdominal surgery, cardiac, orthopedic, ophthalmology, neurological, and oral surgical procedures benefit greatly. In addition, as the recovery time is much shorter than with open procedures, it is considered the ideal option, particularly for elderly people.
Routine cardiac surgery is one of the primary drivers for introducing less invasive procedures. Compared to traditional surgeries, these procedures have several potential advantages, including less blood loss, reduced pain and trauma, a low risk of infection, fewer or less noticeable scars, a quicker recovery, a shorter hospital stay, and a quicker return to normal activities. The numerous benefits of minimally invasive operations in cardiovascular disorders are one of the critical causes driving the adoption of these procedures over traditional ones, hence enhancing the Minimally Invasive Surgical Systems Market size.
Key Driver: Rising Prevalence of Chronic Diseases worldwide
The demand for MIS procedures is anticipated to rise due to the rising prevalence of chronic diseases. Unfortunately, chronic conditions, usually caused by a changing lifestyle, poor eating habits, and failure to maintain a healthy weight, are rarely curable and manageable.
A few longer-lasting chronic infections increase cancer risk, necessitating minimally invasive surgery with the growing awareness of such deadly diseases. Patients who undergo this type of surgery experience fewer complications, less post-operative pain, shorter hospital stays, quicker recovery times, fewer scars, and less immune system stress.
For instance, a report released by American Action Forum in September 2020 revealed that the prevalence and cost of chronic disease in the United States are increasing and will continue to rise as the disease's prevalence among children and young adults grows. Further, chronic disease is a major healthcare problem in the United States, where its total annual expense is rising and now equals $3.7 trillion, or roughly 19.6 percent of the country's GDP. Therefore, the MIS systems market is expanding as chronic illnesses become more common.
Possible Restraint: Need for Specialized High-end Medical Equipment & Surgeons
The primary factor severely impeding global market expansion is the higher cost of MIS procedures, as they require specialized high-end medical equipment that makes it expensive. Other than this, the lack of specialized training among surgeons and the FDA's lengthy delays in approving the new MIS equipment may hamper the market's overall expansion during the forecast period.
Growth Opportunity: Technological Advancements in Minimal Invasive Surgical Systems
As science and technology have advanced and people's living standards have improved, there has been an increase in the desire for special medical care and high-quality treatment. As a result, the use of (MIS) techniques for conducting complex surgical procedures has increased. So again, developing novel technological solutions, such as improvements in optics, instrumentation, materials, robotics, computer systems, and others, has been a key focus for major companies in the industry. For instance, Ethicon, a US-based advanced medical device business for open and minimally invasive surgical procedures, launched an ECHELON+ stapler with GST reloads in March 2021. Ethicon is a part of the Johnson & Johnson Medical Devices Companies.
Key Trend: Rising Prevalence of Cancer Prompting the Adoption of MIS Worldwide
The increasing incidence of gastrointestinal tract cancers, including rectum and colon cancers, is anticipated to fuel demand for minimally invasive procedures and boost market enlargement throughout the forecast period. According to the estimates from GLOBOCAN, the global burden of Colorectal cancer (CRC) is projected to up from 1.6 million deaths to 3.2 million new cases by 2040. In recent years, MI surgeries like laparoscopic or robot surgery have supplanted other treatment options as the primary way to treat colon cancer, subsequently driving the market further.
Based on End Users,
Hospitals, followed by specialty clinics, emerge as the most significant end-user segment in the minimally invasive surgical (MIS) System market, as these spaces facilitate complex diagnostic and therapeutic procedures. With efficient billing and collection systems, better and specialized testing capabilities, technologically advanced MIS instrumentation, and economical test costs, adoption of these procedures has surged in hospitals, making them achieve a significant revenue share, among others. Moreover, increasing patient footfall in hospitals due to its excellent management and reliability further fuel the overall segment growth in the years to come.
Based on the Application,
Among these, Orthopedic Surgery held the largest share in the Global Minimally Invasive Surgical Systems Market over the past few years. Orthopedic surgeries involving minimal invasive procedures result in faster recovery/healing and higher patient satisfaction as there is no need to separate the muscle from the bone. Further, the MIS system is used massively by surgeons & hospitals as it involves fewer postoperative complications and reduced hospitalization. Hence, these factors contribute to the overall market growth, reveals MarkNtel Advisors in their research report.
Geographically, the Minimally Invasive Surgical Systems Market expands across:
Geographically, North America attained the highest share in the Global Minimally Invasive Surgical Systems Market due to the burgeoning number of surgical procedures and early diagnosis of the diseases. For example, according to an updated report released by the Centers for Disease Control and Prevention in September 2021, heart disease remains the leading cause of death in the United States. In addition, the mounting popularity of such type of surgeries in North American countries like the US and Canada, owing to the expanding adoption of cutting-edge technologies, is also propelling market growth. Further, the growing geriatric population, which is more prone to diseases, has also positively influenced the demand for minimally invasive surgical procedures in the region in recent years.
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Frequently Asked Questions
A. The Minimally Invasive Surgical Systems Market is projected to grow at a CAGR of around 7.5% during 2023-28.
A. Rising prevalence of chronic diseases is expected to drive the MIS Systems Market during 2023-28.
A. 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, Reinshaw 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, Siemens Healthcare GmbH are the top players in the Minimally Invasive Surgical Systems Market.
A. Hospitals are anticipated to emerge as an area of remunerative opportunities for the leading players in the Minimally Invasive Surgical Systems Market.
A. Globally, North America would provide lucrative prospects for the Minimally Invasive Surgical Systems Market in the years ahead.
A. Rising prevalence of cancer prompting the adoption of MIS worldwide and are shaping the global market.
A. Constant technological advancements in MIS systems are the growth opportunities driving the market through 2028.
A. The high cost of minimal invasive surgery is the possible restraint affecting the Minimally Invasive Surgical Systems Market.