Reports & Insights has recently released a report titled “Minimally Invasive Surgical Instruments Market: Opportunity Analysis and Future Assessment 2023-2031″ that emphasizes market-related information, including commercial potential, future opportunities and challenges, current trends, and more in an incredibly meticulous and thorough way. The base year for the study is 2021, and the market size is forecast for the years 2023 through 2031. Additionally, the research contains information about market size, segmentation, and textual & graphical analysis of worldwide market growth patterns during the forecast period of 2023 to 2031.
Global Minimally Invasive Surgical Instruments Market, by Device (Handheld Instruments, Inflation Devices, Cutter Instruments, Guiding Devices, Electrosurgical Devices, Auxiliary Devices, and Monitoring & Visualization Devices), by Application (Cardiac, Gastrointestinal, Orthopaedic, Vascular, Gynaecological, Urological, Thoracic, Cosmetic, Dental, and Others), by End-Use (Hospitals and Ambulatory Surgical Centres), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global minimally invasive surgical instruments market in 2020 is estimated for more than US$ 25.5 Bn and expected to reach a value of US$ 47.8 Bn by 2028 with a significant CAGR of 8.2%.
As per the report, the minimally invasive surgical instruments market is influenced by elevating count of geriatric population coupled with the growing occurrence of target diseases. In addition, the mounting count of road accidents, increasing expenses on research and development activities by key players and the benefits of minimally invasive surgeries over traditional open surgeries also boosts the market business.
Furthermore, the advantages of minimally invasive surgeries accounting for the reduction of healthcare expenses and the reduced healing time also plays a major role in propelling the growth of minimally invasive surgical instruments market. Furthermore, the technological advancements in the medical segment along with the increasing cumulative frequency of lifestyle disorders also favour market growth.
This Minimally Invasive Surgical Instruments Market Research/Analysis Report Contains Answers to your following Questions
- Which Manufacturing Technology is used for Minimally Invasive Surgical Instruments? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Minimally Invasive Surgical Instruments Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was Global Market Status of Minimally Invasive Surgical Instruments Market? What Was Capacity, Production Value, Cost and PROFIT of Minimally Invasive Surgical Instruments Market?
- What Is Current Market Status of Minimally Invasive Surgical Instruments Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Minimally Invasive Surgical Instruments Market by Taking Applications and Types in Consideration?
- What Are Projections of Global Minimally Invasive Surgical Instruments Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
- What Is Minimally Invasive Surgical Instruments Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Minimally Invasive Surgical Instruments Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Minimally Invasive Surgical Instruments Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Minimally Invasive Surgical Instruments Industry?
According to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), in 2019, it is estimated that 60.1% of the world’s older population reside in the Asia-Pacific region, while the region makes up 59.4% of the world’s total population. The number of older persons is expected to increase from an estimate of 548 million in 2019 to nearly 1.3 billion by 2050.
However, the factors like the pressure on hospitals for a price reduction of surgeries and the reimbursement challenges associated with the medical device industry are the major restraining factor of this market.
Additionally, the uncertain regulatory framework and the lack of skilled surgeons in the medical device industry will negatively impact market growth during the forecast years.
On the other hand, the enhancing growth opportunities from developing countries and the growing adoption of technologically advanced minimally invasive surgical instruments and procedures offer beneficial growth opportunities for minimally invasive surgical instruments market.
Furthermore, Reports and Insights (R&I) Study identifies that the reduction in post-surgery trauma plays an essential role in boosting the demand for minimally invasive surgical instruments and procedures; resulting in expanding the market business globally. But, the shortage of trained medical practitioners and intraoperative issues by surgeons is the major challenging factor that impedes the growth of minimally invasive surgical instruments market.
R&I Study identifies some of the key participating players in the minimally invasive surgical instruments market globally are Abbott, ArthroCare Corporation, Biomet, Inc., DePuy Synthes, Ethicon, Inc., GE Healthcare, Intuitive Surgical, Inc., Medtronic, Inc., NuVasive, Inc., Siemens Healthcare GmbH, and Zimmer Biomet Holdings Inc.
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