NEW YORK, July 13, 2016 /PRNewswire/ -- The minimally invasive surgical instruments market is projected to reach USD 18.14 billion by 2021 from USD 11.16 billion in 2016, at a CAGR of 10.2%. Benefits of minimally invasive surgeries over traditional open surgeries; reduction in healthcare costs and time; increasing number of surgeries among the aging population; increasing prevalence of lifestyle disorders; and technological advancements are key factors driving market growth for minimally invasive surgical instruments.
By product, the market includes handheld instruments, electrosurgical instruments, inflation systems, guiding devices, auxiliary instruments, and cutter instruments. Handheld instruments are further segmented into stents, forceps and spatulas, retractors, dilators, graspers, sutures, visualizing scopes and others (suction tubes, vessel sealing, and needle holders). Electrosurgical devices are categorized into electrosurgical generators and accessories, electrosurgical instruments, and electrocautery devices. Inflation systems are categorized into balloons, balloon inflation devices, and others (insufflators and insufflator needles). Guiding devices are categorized as guiding catheters and guidewires. Auxiliary instruments constitute clamps, staplers, cannulas, and closure devices. Cutter instruments include trocars, rasps and others, which includes scissors, dissectors, and blades. The handheld instruments segment accounted for the largest share of the minimally invasive surgical instruments, by product in 2015 owing to its convenience in use and wide implementation in almost all kinds of MIS surgeries performed globally. The electrosurgical devices technology segment is expected to grow at the highest rate owing to its high acceptance among physicians for controlling blood loss during surgical procedures as well as the large number of companies focusing the development of these instruments.
The geographic segments included in this report are North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is further segmented into the U.S. and Canada. North America accounted for the largest share in the global minimally invasive surgical instruments in 2015; the rising number of surgical procedures, growing government investments, increasing geriatric population, and rising prevalence of lifestyle diseases are key factors driving marker growth in this region. In Asia-Pacific, the rising geriatric population, presence of a large patient pool undergoing surgical treatments, growing awareness about modern surgical instruments and techniques, and implementation of various initiatives to reduce the rising healthcare is leading to an increase in the demand for minimally invasive surgical instruments, which is compelling key players to expand their geographical presence in this region.
The report includes company profiles of market leaders such as Medtronic plc (Ireland), Ethicon, Inc. (U.S.), Aesculap, Inc. (Germany), Stryker Corporation (U.S.), and Smith & Nephew (U.K.). These players have a strong presence in major as well as emerging markets. Other players in this market are ConMed Corporation (U.S.), Abbott Laboratories (U.S.), Applied Biomedical Resources Corporation (U.S.), Microline Surgical (Japan), and Zimmer Biomet (U.S.)
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The report provides insights on the following:
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and new product launches in the minimally invasive surgical instruments.
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, distribution networks, manufacturing capabilities, and SWOT analyses of the leading players in the minimally invasive surgical instruments.
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the market for various minimally invasive surgical instruments across geographies.
- Market Penetration: Comprehensive information on product portfolios offered by the top players in the minimally invasive surgical instruments. The report analyzes the minimally invasive surgical instruments by technology, product, and end user across all regions.
- Market Diversification: Exhaustive information of new products, growing regions, recent developments, and investments in the minimally invasive surgical instruments.
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