Minimally Invasive Surgical Instruments Market Worth $63.0 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, July 13, 2023 /PRNewswire/ -- The global minimally invasive surgical instruments market size is expected to reach USD 63.0 billion in 2030, registering a CAGR of 10.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. The preference for minimally invasive surgical (MIS) procedures is rising as they are less traumatic than traditional open surgeries and they facilitate faster recover process. Patients can resume their daily activities in a shorter time after minimally invasive surgical procedures.

Key Industry Insights & Findings from the report:

• Minimal invasive technologies are designed to cause less trauma than traditional open surgeries, reduced blood loss, minimal scarring, and low chances of infection.

• Handheld instruments dominated the device segment in terms of revenue share in 2022. On the other hand, electrosurgical devices are expected to witness the fastest growth rate during the forecast period from 2023 to 2030.

• Orthopedic segment dominated the application segment in terms of revenue share in 2022. Minimally invasive surgical procedures in various areas of orthopedics offer surgical alternatives with minimum tissue disruption.

• Continuous adoption of minimally invasive surgical techniques for spine related procedures has led to the expansion of procedural volumes for orthopedic MIS.

• Hospital segment held most of the end use segment share in 2022. On the other hand, ambulatory surgically centers are likely to experience fastest growth in the coming years.

• Ambulatory surgical centers offer same day surgery and discharge at lower costs. At present, over 5,500 Medicare certified ambulatory care centers are present in the U.S.
• North America held majority of the market share in 2022 due to the presence of supportive reimbursement framework for innovative MIS devices and procedures.

Read full market research report for more Insights, "Minimally Invasive Surgical Instruments Market Size, Share & Trends Analysis Report By Device (Handheld Instruments, Inflation Devices), By Application (Cardiac, Gastrointestinal), By End-use, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Minimally Invasive Surgical Instruments Market Growth & Trends

In addition, the costs involved in MIS procedures are significantly less than in-patient and conventional open surgeries. Therefore, MIS procedures prove to be beneficial for patients as well as payers. The benefits of MIS in various areas of orthopedics have contributed to the growing demand for less traumatic alternatives with minimum tissue disruption of bones.

Noncommunicable Diseases (NCDs), often known as chronic diseases, affect more than 41 million individuals each year, accounting for approximately 74% of all deaths worldwide. According to the same source, nearly 15 million people aged 30 to 69 die worldwide each year as a result of NCDs. As a result of the high mortality rate due to NCDs, the need for therapeutic techniques is increasing. Minimally invasive techniques are gaining traction as they offer more benefits than regular procedures. As a result, the market under consideration is anticipated to grow over the forecast period.

Minimally Invasive Surgical Instruments Market Report Scope        

Minimally Invasive Surgical Instruments Market Segmentation 

Grand View Research has segmented the minimally invasive surgical instruments market based on device, application, end-use, and region:

Minimally Invasive Surgical Instruments Market - Device Outlook (Revenue, USD Million, 2018 - 2030)

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

Minimally Invasive Surgical Instruments Market - Application Outlook (Revenue, USD Million, 2018 - 2030)

• Cardiac
• Gastrointestinal
• Orthopedic
• Vascular
• Gynecological
• Urological
• Thoracic
• Cosmetic
• Dental
• Others

Minimally Invasive Surgical Instruments Market - End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals & Clinics
• Ambulatory Surgical Centers

Minimally Invasive Surgical Instruments Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Denmark
• Sweden
• Norway
• Asia Pacific
• Japan
• China
• India
• Australia
• South Korea
• Thailand
• Latin America
• Mexico
• Brazil
• Argentina
• Middle East and Africa (MEA)
• South Africa
• Saudi Arabia
• UAE
• Kuwait

List of Key Players in the Minimally Invasive Surgical Instruments Market

• Medtronic
• Siemens
• Healthineer AG
• Ethicon, Inc. (Johnson & Johnson)
• Depuy Synthes
• GE Healthcare
• Abbott Laboratories
• Intutive Surgical, Inc.
• Nuvasive, Inc.
• Zimmer Biomet

Check out more related studies published by Grand View Research:

• Ophthalmic Handheld Surgical Instruments Market - The global ophthalmic handheld surgical instruments market size is anticipated to reach USD 3.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.8% from 2022 to 2030. The rising prevalence of ocular disorders such as glaucoma, cataract, and refractive errors and increased adoption of advanced surgical instruments are the factors expected to drive the growth.
• Medical Equipment Maintenance Market - The global medical equipment maintenance market size is expected to reach USD 61.7 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.9% from 2021 to 2027. Rising focus on preventive device maintenance, adoption of advanced funding mechanisms, growth of the associated devices markets, and increasing market share of refurbished medical devices are anticipated to drive the market over the forecast period.
• Powered Surgical Instruments Market - The global powered surgical instruments market size is expected to reach USD 2.8 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 3.8%. Increasing number of surgical procedures, coupled with technological advancements, is anticipated to drive the market. Moreover, increasing awareness and affordability of plastic or reconstructive surgeries and surgeries for sports injuries is likely propel growth over the forecast period.

Browse through Grand View Research's  Medical Devices Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.