Increasing Number of Surgeries to Uplift Global Minimally Invasive Surgical Instruments Market
Minimally invasive surgical procedures offer faster recovery times, smaller incisions, reduced scarring and pain, fewer hospital stays, and similar advantages as traditional surgery. Hence, owing to its pros minimally invasive surgical procedures are increasingly preferred by the patients. Surgical Instruments such as handheld instruments, inflation devices, surgical scopes, cutting instruments, guiding devices, electrosurgical & electrocautery instruments are being used in different minimally invasive surgeries such as gynecologic surgery, heart surgery, kidney transplant, nephrectomy (kidney removal), neurosurgery, orthopedic surgery, and others.
According to a market report published by Bizwit Research & Consulting, LLP, the global minimally invasive surgical instruments market is valued at approximately USD 20.70 billion in 2020 and is anticipated to grow with a healthy growth rate of nearly 7.79% over the forecast period 2021–2027.
The advantages of minimally invasive surgical instruments and an increase in the number of patients globally are expected to contribute to the growth of the global minimally invasive surgical instruments market during the forecast period. In addition, technological advancements and growing public-private initiatives to support research activities on minimally invasive surgical instruments offer growth opportunities for the market. However, a shortage of experienced professionals and an uncertain regulatory framework are expected to hamper the market growth during the forecast years.
The increasing trend towards cosmetic procedures is one of the major factors which is expected to create growth prospects for the global minimally invasive surgical instruments market in the forecast period. There has been an increase in the demand for minimally invasive cosmetic procedures such as dermal fillers, neurotoxins, lasers, deoxycholic acid, peels, and micro-needling, and others that offer a powerful and less permanent adjunct to surgeries that are highly effective in the patients. According to Statista, the total market size of cosmetic surgery and procedures across the globe is expected to increase from USD 26.3 billion in 2016 to approximately USD 46 billion by 2026. Such growth in the market size of cosmetic surgery and procedures is expected to increase the demand and adoption of minimally invasive surgical instruments to carry out cosmetic procedures and supplement the market growth during the forecast period.
Global Minimally Invasive Surgical Instruments Market Size Study, by Product (Handheld Instruments, Inflation Devices, Surgical Scopes, Cutting Instruments, Guiding Devices, and Electrosurgical & Electrocautery Instruments), By Type of Surgery (Cardiothoracic Surgery, Gastrointestinal Surgery, Orthopedic Surgery, Gynecological Surgery, and Others), By End-Use (Hospitals and Ambulatory Surgery Centers & Clinics) and Regional Forecasts 2021–2027
The total market revenue is calculated based on revenue generated through the sales of minimally invasive surgical instruments, however, any revenue generated through the maintenance of products is excluded from the report. Major companies covered under the report are Surgical Innovations Group Plc, Medtronic Plc, Applied Medical Resources Corporation, Tecomet, Inc., Boston Scientific Corporation, Becton, Dickinson and Company, and more. Other popular regional players across various countries are also considered for revenue calculation.
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Bizwit Research & Consulting LLP