Minimally invasive surgery is defined as, “surgery that is done using small incisions (cuts) and few stitches. During minimally invasive surgery, one or more small incisions may be made in the body. A laparoscope (thin, tube-like instrument with a light and a lens for viewing) is inserted through one opening to guide the surgery. Tiny surgical instruments are inserted through other openings to do the surgery. Minimally invasive surgery may cause less pain, scarring, and damage to healthy tissue, and the patient may have a faster recovery than with traditional surgery.”
"Different types of computer-assisted surgical systems can be used for pre-operative planning, surgical navigation, and to assist in performing surgical procedures. Robotically assisted surgical (RAS) devices are one type of computer-assisted surgical system. Sometimes referred to as robotic surgery, RAS devices enable the surgeon to use computer and software technology to control and move surgical instruments through one or more tiny incisions in the patient’s body (minimally invasive) for a variety of surgical procedures.”
The global minimally invasive surgical systems market is estimated to be valued at $27,882.8 million in 2020 and is anticipated to reach $55,716.7 million by the end of 2031, growing at a CAGR of 6.3% during 2021-2031.
Market Segmentation
Minimally Invasive Surgical Systems Market (by Product Type)
Under this segmentation, the market in divided into conventional technologies and surgical robotics.
The conventional technologies segment dominates the market with a share of 80.4% of global minimally invasive surgical systems market mainly due to the increase in the number of minimally invasive surgical procedures.
Minimally Invasive Surgical Systems Market (by Application)
Under this segmentation, the market in divided into general surgery, urology surgery, orthopedic surgery, cardiovascular surgery, neurosurgery, others (cosmetic and bariatric surgery)
These above-mentioned applications are based on conventional technologies and surgical robotics segment.
Orthopedic surgery under the conventional technology segment is expected to register the highest CAGR of 7.0% during the forecast period.
Minimally Invasive Surgical Systems Market (by End-User)
Under this segmentation, the market in divided into hospitals, ambulatory surgical centers (ABCs), specialty clinics.
The hospitals segment dominates the minimally invasive surgical systems market with a share of 73.3% of global market mainly due to the number of hospitals providing access to the surgical treatments for the patients.
Ambulatory surgical centers (ASCs) segment is expected to register the highest CAGR of 8.0% during the forecast period.
Minimally Invasive Surgical Systems Market (by Region)
The different regions covered under the market report includes North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
North America dominates the market in 2020 and is anticipated to uphold its dominance throughout the forecast period. The growth in the market is majorly driven by the increasing research and development activities and many companies being located in the U.S.
Latin America, and Middle East and Africa market is expected to grow with the highest CAGR of 7.8% during the forecast period.
Key Market Players and Competition Synopsis
Some of the key players operating in the market, include Arthrex Inc., Asensus Surgical Inc. (formerly TransEnterix Inc.), Boston Scientific Corporation, Conmed Corporation, Fujifilm Holdings Corporation, Intuitive Surgical Inc., Karl Storz SE Co. KG, Medtronic plc, Olympus Corporation, Hoya Corporation (Pentax Medical), Siemens Healthineers AG, Smith Nephew plc, Sony Corporation, Stryker Corporation, Zimmer Biomed Holdings Inc.
The minimally invasive surgical systems market market has witnessed several strategic and technological developments from January 2017- July 2021, undertaken by the different market players to attain their respective market shares in this emerging domain. Some of the strategies covered in this segment are product development and upgradations, partnerships, collaborations, business expansions, funding activities, regulatory approvals, mergers, and acquisitions. The preferred strategy for companies has been partnerships, collaborations, and business expansions.
Key questions answered in the Report
• What are the key regulations governing the minimally invasive surgical systems market, across the globe?
• What are the key technological developments on which the current industry leaders are spending their major share of research and development (RD) investment?
• How is the role of minimally invasive surgery technologies expected to evolve in the future?
• Who are the leading players who hold significant dominance on the global minimally invasive surgical systems market, currently?
• How likely are current business models to persist in the future?
• What are the key market drivers, challenges, growth opportunities, and trends?
• How do minimally invasive procedures function as compared to each other?
• How is the expiration of patents likely to disrupt the market dynamics?
• What are the key strategies incorporated by the leading players in the minimally invasive surgical systems landscape?
• What is the likelihood of new players entering the market in near term?
• What is the current revenue contribution for different endoscopes and endoscopy systems, and what are the expected modifications in the forecast period?
• What is the current revenue contribution for the different types of conventional minimally invasive surgical systems, and what are expected modifications in the same forecast period?
• What is the current revenue contribution for the different types of surgical robotic systems, and what are the expected modifications in the same forecast period?
• Which countries contribute to the major share of current demand and which countries hold significant scope for business expansion activities, by the key players?
Request a Sample - https://bisresearch.com/requestsample?id=1259type=download
How This Report Can Add Value
Who should buy this report?
• Surgical Instruments and Accessories (both Conventional MISS and Surgical Robotics) OEMs to gain a holistic view about the market potential of various systems and the developing economies for business expansions.
• Surgical Robotics Manufacturers
• Established healthcare companies that are integrating software, machine learning, and AI into the surgical robotic platform
• Endoscopes, Endoscopic Systems, Capsule Endoscopy Manufacturers
• Established medical technology companies to gain insights about the market potential, market entry strategies, new technologies in the market, and key competitors.
• Medical Research Institutions
• Healthcare Facilities
• Specialty Clinics
BIS Related Studies
Global Surgical Robotics Market
Global Minimally Invasive Gastrointestinal Surgical Systems Market
Reviews
Comments
Most Recent Articles
- Sep 13, 2024 Why SIP in ELSS is a Win-Win for Tax Saving and Wealth Creation by sandeepkumar
- Sep 12, 2024 How Does the Portfolio Overlap Tool Work in Top Mutual Fund Software in India? by Wealth Elite
- Sep 5, 2024 Wealth management versus financial planning by Anna Paquin
- Sep 2, 2024 How Does the Compare Funds Feature in Mutual Fund Software Work? by Wealth Elite
- Aug 29, 2024 How Mutual Fund Software for IFA Helps in Selecting the Right Mutual Fund for Investors? by Wealth Elite
Most Viewed Articles
- 11084 hits How to Start an Invention Idea by Edwin Poul
- 9063 hits How to Download and Install Facebook Messenger on Firestick by Hope Mikaelson
- 2607 hits Brief discussion about Water by kavin prasath
- 2114 hits Importance of Proofreading While You Write an Assignment by clara
- 1891 hits Sleeping Pillow Market by Trisha Kumari
Popular Articles
In today’s competitive world, one must be knowledgeable about the latest online business that works effectively through seo services....
77365 Views
Are you caught in between seo companies introduced by a friend, researched by you, or advertised by a particular site? If that is the...
32685 Views
Walmart is being sued by a customer alleging racial discrimination. The customer who has filed a lawsuit against the retailer claims that it...
13679 Views
If you have an idea for a new product, you can start by performing a patent search. This will help you decide whether your idea could become the...
11084 Views
Statistics
Members | |
---|---|
Members: | 15316 |
Publishing | |
---|---|
Articles: | 63,054 |
Categories: | 202 |
Online | |
---|---|
Active Users: | 677 |
Members: | 8 |
Guests: | 669 |
Bots: | 8818 |
Visits last 24h (live): | 2144 |
Visits last 24h (bots): | 23686 |