Global Minimally Invasive Surgical Instruments Market Outlook to 2023: A $53.1 Billion Opportunity
DUBLIN, Aug. 20, 2018 /PRNewswire/ --
The "Minimally Invasive Surgical Instruments Market by Product, by Application, by End User, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2016-2023" report has been added to ResearchAndMarkets.com's offering.
Global minimally invasive surgical instruments market is forecasted to attain revenue of $53.1 billion by 2023.
The growth led by growing geriatric population, surge in prevalence of chronic diseases, increasing government healthcare expenditure, and growing demand for minimally invasive surgeries globally.
On the basis of product, the minimally invasive surgical instruments market has been categorized into handheld instruments, electrosurgical instruments, guiding devices, and inflation systems. Handheld instruments held a 36.4% share in 2016 in the global market, since these instruments lead to decreased strain on fingers during operative procedures, further increasing its adoption amongst surgeons globally.
The minimally invasive surgical instruments market is classified into neurosurgery, cosmetic surgery, urology, obstetrics and gynecology, ophthalmology, cardiovascular, orthopedic surgery, laparoscopy, and others, on the basis of application. Laparoscopy held the largest share in the market during the entire analysis period and the category is expected to occupy a 25.1% share by 2023, due to the rising prevalence of obesity and increasing use of laparoscopy for weight reduction (bariatric) surgeries.
On the basis of end user, the minimally invasive surgical instruments market is bifurcated into hospitals, ambulatory surgical clinics (ASCs), and research institutes. Hospitals held the largest share of more than 59.3% in 2016.
Asia-Pacific (APAC) is the fastest growing market for minimally invasive surgical instruments
APAC minimally invasive surgical instruments industry is predicted to witness the fastest growth in demand, registering 11.5% CAGR during the forecast period, owing to the increasing number of patients suffering from chronic diseases, rising geriatric population, increasing per capita income, and improving healthcare facilities in the region.
According to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), people aged 65 years and above constituted approximately 11.4% of the population in 2013, and the count is estimated to increase by approximately 20% by 2050. With rising population there are also chances for the population to get subjected to diseases. Thus, these rising figures, with respect to the geriatric population, are an important factor leading to the increasing demand for minimally invasive surgical instruments in the region.
The rising per capita income is likely to increase the affordability of people for expensive surgical procedures, involving minimally invasive surgical instruments. According to the World Bank, the GDP per capita of India increased from $1,345.8 in 2010 to $1,709.4 in 2016. A similar trend has been observed for other developing countries, such as Papua New Guinea, the Philippines, and Indonesia, which is contributing to the growth of the APAC market.
Mergers and acquisitions are taking place at a high rate among players for a larger share
Globally, key players in the minimally invasive surgical instruments industry are acquiring other firms to gain a larger market share. For instance, in June 2017, Johnson & Johnson acquired Actelion Pharmaceuticals Ltd. (Actelion). Actelion manufactures the surgical devices. Moreover, in January 2017, the company acquired Abbott Medical Optics (AMO), a subsidiary of Abbott Laboratories. The acquisition includes ophthalmic products in three areas of patient care: cataract surgery, laser refractive surgery, and consumer eye health. These product lines joined the world- leading ACUVUE Brand Contact Lenses business, and the combined organization will operate with the name Johnson & Johnson Vision.
Some of the other major players operating in the minimally invasive surgical instruments market Applied Medical Resources Corporation, B. Braun Melsungen AG, CONMED Corporation, HOYA Corporation, Medtronic plc, Smith & Nephew plc, Stryker Corporation, Zimmer Biomet Holdings Inc.
Key Topics Covered
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation By Product
1.3.2 Market Segmentation By Application
1.3.3 Market Segmentation By End User
1.3.4 Market Segmentation By Geography
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.3.6.1 Value
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown Of Primary Research Respondents
2.2.1.1 By Region
2.2.1.2 By Industry Participant
2.2.1.3 By Company Type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions For The Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition Of Market Segments
4.1.1 By Product
4.1.1.1 Handheld Instruments
4.1.1.1.1 Cutter Instruments
4.1.1.1.1.1 Trocars
4.1.1.1.1.2 Rasps
4.1.1.1.1.3 Others
4.1.1.1.2 Visualizing Scopes
4.1.1.1.3 Auxiliary Instruments
4.1.1.1.3.1 Staplers
4.1.1.1.3.2 Closure Devices
4.1.1.1.3.3 Cannulas
4.1.1.1.3.4 Clamps
4.1.1.1.4 Retractors
4.1.1.1.5 Dilators
4.1.1.1.6 Forceps And Spatulas
4.1.1.1.7 Graspers
4.1.1.1.8 Sutures
4.1.1.1.9 Others
4.1.1.2 Guiding Devices
4.1.1.2.1 Guiding Catheters
4.1.1.2.2 Guidewires
4.1.1.3 Inflation Systems
4.1.1.3.1 Balloons Dilators And Inflators
4.1.1.3.2 Insufflators And Insufflator Needles
4.1.1.4 Electrosurgical Instruments
4.1.1.4.1 Electrosurgical Instruments And Accessories
4.1.1.4.2 Electrosurgical Generators
4.1.1.4.3 Electrocautery Devices
4.1.2 By Application
4.1.2.1 Laparoscopy
4.1.2.2 Cardiovascular
4.1.2.3 Cosmetic Surgery
4.1.2.4 Orthopedic Surgery
4.1.2.5 Obstetrics And Gynaecology
4.1.2.6 Ophthalmology
4.1.2.7 Neurosurgery
4.1.2.8 Urology
4.1.2.9 Others
4.1.3 By End User
4.1.3.1 Hospitals
4.1.3.2 Ascs
4.1.3.3 Research Institutes
4.2 Market Dynamics
4.2.1 Drivers
4.2.1.1 Rise In Government Healthcare Expenditure
4.2.1.2 Increasing Geriatric Population And Surge In Prevalence/Incidence Of Chronic Diseases
4.2.1.3 Increasing Preference For Miss
4.2.1.4 Impact Analysis Of Drivers On Market Forecast
4.2.2 Restraints
4.2.2.1 Erratic Regulatory Environment
4.2.2.2 Improper Sterilization Procedures
4.2.2.3 Impact Analysis Of Restraints On Market Forecast
4.2.3 Opportunity
4.2.3.1 Lucrative Opportunities In Emerging Economies
4.3 Porter'S Five Forces Analysis
4.3.1 Bargaining Power Of Buyers
4.3.2 Bargaining Power Of Suppliers
4.3.3 Intensity Of Rivalry
4.3.4 Threat Of New Entrants
4.3.5 Threat Of Substitutes
Chapter 5. Global Market Size And Forecast
5.1 By Product
5.1.1 Handheld Instruments By Type
5.1.1.1 Cutter Instruments By Type
5.1.1.2 Auxiliary Instruments By Type
5.1.2 Guiding Devices By Type
5.1.3 Inflation Systems By Type
5.1.4 Electrosurgical Instruments By Type
5.2 By Application
5.3 By End User
5.4 By Region
Chapter 6. North America Market Size And Forecast
6.1 By Product
6.1.1 Handheld Instruments By Type
6.1.1.1 Cutter Instruments By Type
6.1.1.2 Auxiliary Instruments By Type
6.1.2 Guiding Devices By Type
6.1.3 Inflation Systems By Type
6.1.4 Electrosurgical Instruments By Type
6.2 By Application
6.3 By End User
6.4 By Country
Chapter 7. Europe Market Size And Forecast
7.1 By Product
7.1.1 Handheld Instruments By Type
7.1.1.1 Cutter Instruments By Type
7.1.1.2 Auxiliary Instruments By Type
7.1.2 Guiding Devices By Type
7.1.3 Inflation Systems By Type
7.1.4 Electrosurgical Instruments By Type
7.2 By Application
7.3 By End User
7.4 By Country
Chapter 8. APAC Market Size And Forecast
8.1 By Product
8.1.1 Handheld Instruments By Type
8.1.1.1 Cutter Instruments By Type
8.1.1.2 Auxiliary Instruments By Type
8.1.2 Guiding Devices By Type
8.1.3 Inflation Systems By Type
8.1.4 Electrosurgical Instruments By Type
8.2 By Application
8.3 By End User
8.4 By Country
Chapter 9. LAMEA Market Size And Forecast
9.1 By Product
9.1.1 Handheld Instruments By Type
9.1.1.1 Cutter Instruments By Type
9.1.1.2 Auxiliary Instruments By Type
9.1.2 Guiding Devices By Type
9.1.3 Inflation Systems By Type
9.1.4 Electrosurgical Instruments By Type
9.2 By Application
9.3 By End User
9.4 By Region
Chapter 10. Competitive Landscape
10.1 Market Share Analysis Of Key Players
10.2 Global Strategic Developments Of Key Players
10.2.1 Mergers And Acquisitions
10.2.2 Product Launch
10.2.3 Partnership And Collaboration
10.2.4 Facility Expansion
Chapter 11. Company Profiles
11.1 Abbott Laboratories
11.1.1 Business Overview
11.1.2 Product And Service Offerings
11.2 Applied Medical Resources Corporation
11.2.1 Business Overview
11.2.2 Product And Service Offerings
11.3 B. Braun Melsungen AG
11.3.1 Business Overview
11.3.2 Product And Service Offerings
11.4 Conmed Corporation
11.4.1 Business Overview
11.4.2 Product And Service Offerings
11.5 Hoya Corporation
11.5.1 Business Overview
11.5.2 Product And Service Offerings
11.6 Johnson & Johnson
11.6.1 Business Overview
11.6.2 Product And Service Offerings
11.7 Medtronic Plc
11.7.1 Business Overview
11.7.2 Product And Service Offerings
11.8 Smith & Nephew Plc
11.8.1 Business Overview
11.8.2 Product And Service Offerings
11.9 Stryker Corporation
11.9.1 Business Overview
11.9.2 Product And Service Offerings
11.1 Zimmer Biomet Holdings Inc.
11.10.1 Business Overview
11.10.2 Product And Service Offerings
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