Minimally Invasive Surgical Instrument Market Analysis

Minimally Invasive Surgical Instrument Market Analysis

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Minimally invasive surgical instrument industry by product is segmented into handheld instruments, inflation devices, cutter instruments, guiding devices, electrosurgical devices, auxiliary devices, and monitoring & visualization devices. The handheld instruments segment is further divided into graspers, retractors/elevators, suturing instruments, dilators, and other handheld instruments. The handheld instruments segment accounted for majority revenue share and was valued at around USD 6.1 billion revenue in 2023.
 

• Continuous advancements in portable device designs contribute considerably to in adoption of hand-held devices. . Improved designs are intended to improve surgeon comfort and control, enabling for more efficient and precise minimally invasive treatments as they are being designed with enhanced ergonomics, accuracy, and longevity.
   
• Moreover, handheld instruments are increasingly manufactured and customized to specific operations and surgical specializations. Tailoring devices to the specific needs of different procedures improves their efficacy. Specialised equipment that enhance performance in various minimally invasive procedures assist surgeons. These above factors are expected to drive the demand for handled instruments in the market.
   

Based on surgery type, the market is categorized into cardiothoracic surgery, gastrointestinal surgery, orthopedic surgery, gynecological surgery, cosmetic & bariatric surgery, urological surgery, and other surgery types. The cardiothoracic surgery segment dominated the market and accounted for around 24% market share in 2023.
 

• The ability to reduce harm to the chest cavity is one of the primary factors for the use of MIS devices in cardiothoracic surgery. For patients having surgeries such as coronary artery bypass grafting (CABG) or lung resections, smaller incisions result in less pain, less blood loss, and faster recovery periods. The focus on minimizing hospital stays and enhancing surgical recovery propels the use of minimally invasive treatments.
   
• Additionally, robotic-assisted surgery, which incorporates automated instruments that are operated by surgeons, has gained prominence in cardiothoracic surgeries. The robotic device enhances dexterity and enables more complex decisions in limited areas. The need for higher precision and superior outcome drives the adoption of robots in cardiothoracic surgery, particularly in operations like mitral valve replacement and robotic-assisted lung surgeries.
   

The market by end-use is categorized into hospitals & clinics, ambulatory surgical centers, and other end-users. The hospitals & clinics segment accounted for over USD 14.5 billion revenue size in 2023.
 

• Hospitals and clinics prioritize patient outcomes and satisfaction. Minimally invasive procedures, facilitated by advanced MIS instruments, often result in reduced postoperative pain, quicker recovery times, and shorter hospital stays. This aligns with the overarching goal of improving the patient experience, which, in turn, improves the efficiency and patient handling capacity of the healthcare facility.
   
• Furthermore, the ability to offer a range of minimally invasive procedures using state-of-the-art instruments provide hospitals and clinics with a competitive edge. As patients increasingly seek less invasive options, healthcare facilities that excel in providing MIS procedures can distinguish themselves in the market and attract a broader patient base.
   

North America minimally invasive surgical instrument market accounted for USD 10.2 billion revenue in 2023 and is predicted to witness substantial market growth over the analysis timeline.
 

• North America serves as a global hub for technological innovation in healthcare. Continuous advancements in robotics, imaging technologies, and smart instruments drive the adoption of MIS instruments. The region's status as a leader in medical research and development encourages healthcare facilities to invest in the latest technologies, positioning North America at the forefront of minimally invasive surgical practices.
   
• Furthermore, the high healthcare expenditure in the region provides healthcare providers with the financial capacity to invest in advanced medical technologies, including MIS instruments. Hospitals and clinics in the region are more likely to adopt state-of-the-art equipment, ensuring that patients have access to the latest and most effective minimally invasive procedures, thereby leading to the regional growth.