Minimally Invasive Surgical Instruments Industry is Estimated To Expand at a CAGR of 17.7% by 2031 | Medtronic plc (Ireland), Johnson & Johnson (US), Stryker Corporation (US)

The global minimally invasive surgical instruments market  was valued at USD 12.8 billion in 2021 and it is anticipated to grow up to USD 65.3 billion by 2031, at a CAGR of 17.7% during the forecast period.

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Minimally invasive surgeries are much less traumatic than conventional open surgeries. Traditional surgeries performed with conventional laparoscopic instruments can be traumatic and complex. Minimally invasive laparoscopic cameras are inserted through smaller incisions and specialized smaller instruments are used to perform the operation. The healing process is less painful and patients can recover fastest after minimally invasive surgeries.

Market Trends and Drivers

Advantages of MIS over open surgical techniques will fuel the industry growth. Over the years, minimally invasive surgeries (MIS) have undergone a drastic transformation in technological advancements, which has brought about a paradigm shift in the way surgical procedures are performed in operating rooms. Most surgeons currently opt for advanced minimally invasive surgical procedures such as laparo-endo single-incision surgery (LESS) due to their advantages over traditional open surgical techniques.

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These advantages include fewer scars and tissue injury, quicker recovery periods, shorter hospital stays, reduced blood loss and trauma, lower risk of infection, and reduced overall healthcare costs. In addition, minimally invasive surgeries are increasingly being covered by health insurance providers in select countries. These factors have led to an increased preference for minimally invasive surgeries among patients.

Major Players in the Global Minimally Invasive Surgical Instruments Market

The key players in the market are Medtronic plc (Ireland), Johnson & Johnson (US), Stryker Corporation (US), Abbott Laboratories, Inc. (US), Boston Scientific Corporation (US), B. Braun Melsungen AG (Germany), CONMED Corporation (US), Smith & Nephew plc (UK), Zimmer Biomet Holdings, Inc. (US), Becton, Dickinson and Company (US), among others.

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COVID-19 Impact

Despite, huge investment in R&D and product launches with advanced features, the minimally invasive surgical instruments market witnessed a dip in 2020 due to the outbreak of COVID-19. National lockdowns, stop on logistics movements, lack of resource availability, and most importantly, the economic instability of hospitals and end use settings, led to the fall of the market. A dramatic decline in elective surgeries by nearly 50% across the globe, cancellation of planned laparoscopic surgeries for the year 2020 and early 2021, reduced medical staff, increased workload on surgeons, and risk associated with viral spread, also fueled the market drop. However, it is said to rise sharply by early 2022.

Global Minimally Invasive Surgical Instruments Market Segmentation

By Device

Handheld Instruments
Inflation Devices
Cutter Instruments
Guiding Devices
Electrosurgical Devices
Auxiliary Devices
Monitoring & Visualization Devices

By Application

Cardiac
Gastrointestinal
Orthopedic
Vascular
Gynecological
Urological
Thoracic
Cosmetic
Dental
Others

By End-Use

Hospitals
Ambulatory Surgical Centers

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This release was published on openPR.