Report Overview

According to the deep-dive market assessment study by Growth Plus Reports, the global minimally invasive surgical instruments market was valued at US$ 19.90 billion in 2022 and is expected to register a revenue CAGR of 8.9% to reach US$ 44.26 billion by 2031.

Minimally Invasive Surgical Instruments Market Fundamentals 

The development of minimally invasive surgical instruments has been an innovative development that has transformed surgery. These devices' precise construction and modern technology have made it possible for surgeons to carry out difficult operations with minimal damage to the patient's body.  Applications for minimally invasive surgical instruments may be found in many different medical specialties. These devices have been used in several treatments in fields ranging from general surgery to orthopedics, gynecology, urology, and beyond. In just a few procedures, they have become well-known for doing appendectomies, cholecystectomies, hernia repairs, hysterectomies, prostate operations, and joint replacements.

Additionally, the ability of minimally invasive surgical instruments to cause as little strain to the patient's body as possible is one of its primary advantages. These instruments let surgeons do procedures through small incisions or built-in body spaces compared to traditional open surgery, which necessitates huge incisions. Patients report less discomfort, less blood loss, and noticeably smaller scars as a consequence. This benefit expedites post-operative healing and improves the aesthetic result. Patients can recover faster and spend less time in the hospital due to minimally invasive surgical equipment. The healing process is accelerated by the smaller incisions and lessened tissue damage. In comparison to standard surgery, patients frequently report less suffering and discomfort, which enables them to resume their normal activities and go back to work sooner. Additionally, a shorter hospital stay lowers medical expenses, lessens the strain on hospitals, and enhances patient happiness.

Modern oncologic treatment algorithms have made the impacts crucial stages in lowering the adverse effects of surgery as well as the direct impact surgery has on the patient. As a result, they make it possible for surgery to be included as a module in contemporary multidisciplinary cancer treatment. This prolongs and broadens the range of therapeutic options that are accessible to cancer patients. Furthermore, over the past ten years, minimally invasive surgery has been the driving force behind surgical innovation. As a result, various surgical procedures, tissue handling methods, and tissue-related knowledge, such as live perfusion monitoring, have evolved, enriched, and at times changed traditional ideas about tissue management in surgery.

Minimally Invasive Surgical Instruments Market Dynamics

 The field of minimally invasive surgery has been transformed by surgical robots, and surgeons acceptance of them is growing internationally. The value of minimally invasive surgical (MIS) treatments is greatly increased for the patient as well as insurance providers because they are significantly less expensive than in-patient and traditional open operations with the same results. In the upcoming years, this pattern is probably going to persist. During the projected period, it is predicted that the rising number of new product launches and product approvals by various market participants seeking to capture a bigger market share would generate significant growth possibilities. For instance, Abbott introduced a minimally invasive heart valve replacement device in India in December 2020 to treat mitral regurgitation.

Market major players including Abbott, Zimmer, Medtronic, and Biomet have also introduced new devices that use robotic assistance technology. For instance, in 2020, Titan Medical and Medtronic signed a binding agreement to jointly develop technology for robot-assisted surgery. Abbott also introduced a minimally invasive heart valve repair device in 2020 for the treatment of mitral regurgitation in India. The company's IonicRF Generator product is in charge of providing minimally invasive, nonsurgical therapy for nervous system pain management.

The market for minimally invasive surgical equipment saw a decline in 2020 as a result of the COVID-19 epidemic, despite significant investments in R&D and the introduction of new products with cutting-edge features. Lockdowns across the country, a halt to logistical traffic, a shortage of resources, but most crucially the financial instability of hospitals and other end-user environments, caused the market to collapse. Reduced medical personnel, higher strain for surgeons, danger associated with viral spread, cancellation of scheduled laparoscopic procedures for the years 2020 and early 2021, a sharp reduction in elective surgeries by about 50% globally, and other factors all contributed to the market collapse. By early 2022, it is predicted to increase significantly.

Minimally Invasive Surgical Instruments Market Ecosystem 

The global minimally invasive surgical instruments market is analyzed based on following perspectives: type, application, end user, and region.

Minimally Invasive Surgical Instruments Market by Type

Based on the type, the global minimally invasive surgical instruments market is segmented into handheld instruments, electrosurgical instruments, inflation systems, monitoring & visualization devices, guiding devices, and others (cutter instruments and auxiliary instruments). 

The handheld instruments segment accounts for the largest revenue share of more than 20% in the market. The revenue growth of the segment can be attributed to its predominant usage in MISs and high dexterity, precision, and ergonomics offered by handheld devices.

The segment for handheld instruments is driven by technical advancements and their expanding use in minimally invasive procedures. For instance, a low-cost mechanical tool has recently been created to carry out minimally invasive laparoscopic procedures. These portable gadgets might be mechanical, robotic, or partially automated. With instrument triangulation, handheld devices provide better access during surgery, lowering the likelihood of potential errors.

Minimally Invasive Surgical Instruments Market by Application

Based on the application, the global minimally invasive surgical instruments market is segmented into cardiac surgery, gastrointestinal surgery, urological surgery, gynecological surgery, orthopedic surgery, bariatric surgery, and others (cosmetic surgery, neurological surgery, respiratory surgery). 

With a global revenue share of approximately ~ 23% in 2022, the orthopedic application segment led. Muscles don't need to be cut or severed from the bone during orthopedic MIS operations. Because of this, the healing process has moved more quickly, improving patient satisfaction. The hip and knee replacement surgeries are the ones that use MIS the most. A shorter hospital stays, and fewer operational and postoperative problems are goals of hospitals and surgeons while searching for surgical treatments. Conversely, pats prefer surgical procedures that lessen stress and enable quick recovery.

The cardiac surgery segment accounts for the second largest revenue share in the market. This can be attributed to the rising prevalence of cardiac diseases. According to CDC, one person dies every 36 seconds in the U.S. due to cardiovascular disease. Whereas, about 655,000 Americans die from heart disease each year. Awareness about early detection of cardiovascular complications has increased in the past few years. Moreover, MISs are being increasingly adopted across developed and developing countries owing to their advantages, such as minimal blood loss, decreased risks of infection, reduced pain and trauma, faster recovery, and shorter duration of hospitalization. These factors are expected to fuel revenue growth of the cardiac surgery segment of the market in the next few years.

Minimally Invasive Surgical Instruments Market by End User

Based on the end user, the global minimally invasive surgical instruments market is segmented into hospitals, ambulatory surgery centers, and others (clinics and academic and research institutes). 

The hospital segment accounts for the largest revenue share in the market. This can be attributed to increase in number of patients admissions in hospitals as compared to other healthcare settings, rise in the number of MISs performed in hospitals, and high budget of hospitals that allows them to introduce various technologically advanced devices. Furthermore, the presence of highly skilled healthcare professionals is expected to propel revenue growth in the segment during the forecast period.

Minimally Invasive Surgical Instruments Market by Region

Based on the region, the global minimally invasive surgical instruments market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America dominated the market during the forecast period. The market for minimally invasive surgical instruments in this region is developing as a result of the rising incidence of different ailments. According to an updated study released by the Centers for Disease Control and Prevention in September 2021, heart disease remains the leading cause of death in the United States. In 2019, 360,900 persons in the United States died from coronary heart disease, while 18.2 million adults in the country aged 20 and over have coronary artery disease. The market for minimally invasive surgical equipment in the North American area is also expanding as a result of the adoption of cutting-edge technology.

On the other hand, Asia-Pacific is anticipated to see the quickest growth over the projection period. In the Asia-Pacific area, the markets for minimally invasive surgical devices are dominated by China and Japan. The market for minimally invasive surgical equipment is expanding in this area due to factors such increased urbanization, an aging population, and a rising trend in medical tourism. Additionally, the market for minimally invasive surgical devices in Asia-Pacific is growing as a result of the rise in healthcare spending.

Minimally Invasive Surgical Instruments Competitive Landscape

Some of the prominent market players in the global minimally invasive surgical instruments market include, 

• Medtronic
• Abbott Laboratories
• B. Braun SE
• Siemens Healthineer AG
• Zimmer Biomet
• Intutive Surgical, Inc.
• Ethicon, Inc. (Johnson & Johnson)
• Depuy Synthes
• Boston Scientific Corporation
• GE Healthcare
• Nuvasive, Inc.
• FujiFilm Holding Corporation

Minimally Invasive Surgical Instruments Strategic Development 

• In April 2023, ETH Zurich researchers have now created a system for the least invasive surgical equipment. This technique allows researchers to insert substantial things into the body using a tiny catheter. Large gadgets are broken down by scientists into their component elements. Then, like a string of pearls, they were arranged in a row and fed via the catheter. Due to magnets included inside the catheter, the components self-assemble into the desired form at the end.
• In December 2022, the newest generation transcatheter aortic valve implantation (TAVI) technology, Navitor, has been made available by Abbott, a multinational healthcare company, for patients in India with severe aortic stenosis who are at high or extremely high risk for surgery.
• In Nov 2020, Olympus Corporation announced the acquisition of FH ORTHO SAS. The acquisition underscores company’s commitment to expanding in the growing field of orthopedic MIS both organically and through mergers and acquisitions, with an overarching goal of developing innovative solutions that improve clinical outcomes, reduce overall costs, and enhance the quality of life for patients.
• In July 2020, FUJIFILM Medical Systems U.S.A., Inc., announced the introduction of its innovative ELUXEO Surgical System, a first-of-its-kind equipment tower comprised of products from the company’s endoscopy and MIS portfolios.
• In Jan 2020, Symmetry Surgical, Inc., acquired The O.R. Company. The acquisition was aimed to complement Symmetry’s existing instrumentation portfolio and expand its minimally invasive surgical instrument offering with products that have high clinical acceptance and strong price positions in the market.

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