The Global Minimally Invasive Surgery Market size is expected to grow from USD 63.18 Billion in 2023 to USD 139.39 Billion by 2032, at a CAGR of 9.19% during the forecast period (2024-2032).
Minimally invasive surgery (MIS) can be dated back to the 1800s and started to become more common as a diagnostic procedure in the 1930s and 1940s. This surgical method started to gain impetus in the mid-1980s attributed to advances in camera and video technology. This offered surgeons precise anatomic details to perform increasingly sophisticated procedures. Surgery that is done by making small incisions or cuts and a few stitches on the body is called minimally invasive surgery.
Top Key Players in the Minimally Invasive Surgery Market:
NuVasive Inc (US), Siemens Healthineers (Germany), Stryker Corporation (US), Teleflex Inc. (US), Intuitive Surgical (US), Beverly Hills Orthopedic Institute (US), Boston Center for Ambulatory Surgery Inc. (US), Weill Cornell Medicine (US), Smart Medical Devices Inc. (US), Taiwan Surgical Corporation (Taiwan), Tissium (France), ZSX Medical LLC (US), Ancillary Advantage Inc. (US). and other major players.
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The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.
Market Dynamics and Factors for Minimally Invasive Surgery Market:
Drivers:
Rising Number of Individuals Suffering from Cancer
The rise in the number of individuals suffering from cancer and cardiovascular diseases is the main factor promoting the expansion of the minimally invasive surgery market during the forecast period. Scars from minimally invasive surgery are smaller than those from traditional open surgery. In laparoscopy, one incision is done in the belly button and one to three others in the lower belly. The hospital stay period is gradually reduced and it decreases the risk of problems such as blood clots or infection post-surgery thus, supporting the development of a minimally invasive surgery market over the projected period.
Opportunities:
The Investments Made by Several Governments and Private Organizations to Develop Novel Surgery Methods
The investments made by several governments and private organizations to develop novel surgery methods that can reduce the risk associated with traditional open surgery methods are creating a lucrative opportunity for the market players. The trend is set to see an upsurge in demand as individuals are becoming aware of the advantages of minimally invasive surgery methods such as quick recovery time, and less blood loss. Moreover, the rise in the population opting for minimally invasive surgical procedures and the adoption of these techniques by several healthcare providers is generating profitable opportunities for the market players involved in the minimally invasive surgery market.
Segmentation Analysis:
By Device
- Surgical Devices
- Monitoring & Visualization Devices
- Endoscopy Devices
By Surgery Method
- Robot-Assisted
- Traditional
By Type Of Surgery
- Gastrointestinal
- Cardiothoracic
- Gynecological
- Urological
- Orthopedic
- Others
By End-User
- Hospitals
- Ambulatory Surgery Centers
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By Regional Outlook
- North America (U.S., Canada, Mexico)
- Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
- Western Europe (Germany, U.K., France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Bahrain, Kuwait, Qatar, UAE, Israel, South Africa)
- South America (Brazil, Argentina, Rest of SA)
Key Industry Development:
- In March 2024, Medtronic plc a global leader in healthcare technology, announced that the United States Food and Drug Administration (FDA) has approved the Evolut™ FX+ transcatheter aortic valve replacement (TAVR) system for the treatment of symptomatic severe aortic stenosis. The latest Evolut FX+ TAVR system maintains the valve performance benefits of the legacy Evolut TAVR platform and is designed to facilitate coronary access.
- In March 2024, Siemens Healthineers developed the Ciartic Move3 automated C-arm system for intraoperative imaging in surgery. The system features holonomic, omnidirectional wheels for precise movements and easy positioning. It can be moved to previously stored positions with a touch of a button using a remote control, reducing the burden on technologists. The automated process saves time by making automatic adjustments more precise, reducing imaging times by around 50% in spine, pelvic, and distal radius surgery
- In June 2024, Intuitive Surgical (NASDAQ: ISRG) secured FDA clearance for its fifth generation da Vinci 5 robotic system, enhancing minimally invasive surgery with over 150 technological advancements. Key features include improved precision, 3D imaging, and novel Force Feedback technology, promising better surgical outcomes and workflow efficiency. This innovation signifies a leap forward for robotic-assisted surgery, aiming to reduce surgical trauma and optimize operating room performance.
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