Visualization Instruments for MIS Market
Number of pages: 100 | Report Format: PDF | Published date: June 07, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 11.04 billion |
|
Revenue Forecast in 2031 |
US$ 20.83 billion |
|
CAGR |
7.31% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Product type, MIS type, End User, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global visualization instruments for MIS market was valued at US$ 11.04 billion in 2022 and is expected to register a revenue CAGR of 7.31% to reach US$ 20.83 billion by 2031.
Visualization Instruments for MIS Market Fundamentals
Visualization instruments play a critical role in minimally invasive surgery (MIS) by providing surgeons with a clear and magnified view of the surgical site. These instruments enhance visibility and accuracy, enabling surgeons to perform complex procedures through small incisions. Commonly used visualization instruments in minimally invasive surgery are endoscopes, laparoscopes, arthroscopes, neuro endoscopy, and many more. These visualization instruments are often accompanied by advanced imaging technologies, such as high-definition monitors, 3D visualization systems, and image enhancement features, to provide surgeons with a detailed and clear view of the surgical site. They contribute to the precision and safety of minimally invasive procedures, leading to reduced scarring, shorter recovery times, and improved patient outcomes.
Visualization Instruments for MIS Market Dynamics
The increasing prevalence of chronic diseases, such as cardiovascular diseases, cancer, gastrointestinal disorders, and orthopedic conditions, necessitates surgical interventions. Minimally invasive surgery offers less invasive options for the treatment of these conditions, driving the demand for global visualization instruments for MIS market. For instance, according to the WHO’s factsheet of June 2021, cardiovascular disorders are one of the leading causes of death globally; an estimated 17.9 million individuals died in 2019 due to cardiovascular disorders. Moreover, continuous advancements in imaging technology, such as high-definition cameras, 3D visualization systems, and enhanced image processing, have significantly improved the quality and clarity of visual information during surgery. Surgeons now have access to sharper, more detailed images, enabling them to perform complex procedures with greater precision and accuracy. Furthermore, minimally invasive surgery techniques are increasingly preferred over traditional open surgeries due to their numerous advantages, including reduced scarring, faster recovery times, less post-operative pain, and shorter hospital stays. Visualization instruments are essential for performing these procedures effectively, as they provide a magnified view of the surgical site through small incisions or natural body openings.
However, visualization instruments used in minimally invasive surgery can be expensive to acquire and maintain. The advanced imaging technologies and equipment required for these instruments often come with a high price tag, making it challenging for healthcare facilities, particularly those with limited budgets, to invest in them. Performing minimally invasive surgery with visualization instruments requires specialized skills and training. Surgeons need to develop proficiency in using these instruments effectively. The learning curve associated with mastering the techniques and handling the equipment can be steep, potentially limiting the adoption of these instruments, especially among less experienced surgeons. Additionally, the high equipment cost and limited access in developing regions are some of the restraints impeding the overall market growth.
Visualization Instruments for MIS Market Ecosystem
The global visualization instruments for MIS market are analyzed from four perspectives: product type, MIS type, end user, and region.
Visualization Instruments for MIS Market by Product Type
Based on the product type, the global visualization instruments for the MIS market are segmented into visualization systems and consumables & accessories.
The visualization systems segment dominated the market with the principal revenue share in 2022. Visualization systems provide surgeons with a clear and magnified view of the surgical site by capturing, processing, and displaying high-quality images or video feeds. Visualization systems typically consist of several components. These include high-definition cameras or endoscopes, light sources, image processors, monitors, and recording devices. These components work together to capture and display real-time images or videos of the surgical site, enabling surgeons to visualize and perform procedures accurately. Visualization systems can offer both 2D and 3D visualization capabilities. In 2D visualization, the surgical field is displayed on high-definition monitors in real-time, allowing surgeons to assess structures' depth and spatial relationships. 3D visualization systems provide a more immersive and depth-perceptive view, enabling surgeons to visualize the surgical field better and perform complex procedures with enhanced accuracy. These aspects contribute to the growth of the visualization systems segment.
Visualization Instruments for MIS Market by MIS Type
Based on the MIS Type, the global visualization instruments for MIS market is segmented into endoscopy and robotic surgery.
The endoscopy segment dominated the market with the largest revenue share in 2022, owing to the rising number of endoscopic procedures performed. For instance, according to the National Center for Biotechnology Information’s article of January 2021, prior to the pandemic, 17.7 million endoscopic procedures were performed in the U.S. Endoscopy is a visualization technique widely used in the field of minimally invasive surgery as a visualization instrument. It involves the insertion of a thin, flexible tube called an endoscope into the body through small incisions or natural body openings to visualize and access internal organs, tissues, or cavities. Endoscopy is crucial in the MIS market by providing surgeons and medical professionals with real-time visual information during diagnostic or surgical procedures. Endoscopes used in MIS are specially designed to be slender and flexible, allowing them to navigate through narrow passages or small incisions. They typically consist of a long tube with an attached light source and a camera at the tip. The camera captures high-resolution images or videos of the internal structures, which are transmitted to a monitor for real-time visualization. Endoscopy directly visualizes internal organs, tissues, or cavities that would otherwise require open surgery. The camera at the end of the endoscope captures detailed images or videos, enabling surgeons to assess the condition of the examined area. This visualization allows for accurate diagnosis, precise tissue sampling, and targeted interventions. These factors contribute to the growth of the endoscopy segment.
Visualization Instruments for MIS Market by End User
Based on the end user, the global visualization instruments for MIS market is segmented into hospitals and ambulatory surgery centers.
The hospitals segment is a key player in the visualization instruments for MIS market with the largest revenue share in 2022, owing to high footfall. Hospitals are key contributors to the demand for visualization instruments. They perform a high volume and diverse range of surgeries, including minimally invasive procedures. As hospitals strive to enhance patient care, minimize invasiveness, and improve surgical outcomes, there is a growing need for advanced visualization instruments to support these goals. Hospitals house various surgical specialties, including general surgery, gynecology, urology, orthopedics, neurosurgery, cardiovascular surgery, and more. Each specialty may require specific visualization instruments tailored to their unique surgical needs. Hospitals must invest in a comprehensive range of visualization instruments to cater to the diverse procedures performed in different specialties. Hospitals provide the necessary infrastructure and operating room facilities to accommodate minimally invasive surgeries. This includes specialized equipment, high-definition monitors, image processing systems, and integration with surgical robots or other assistive technologies. Hospitals must ensure that their operating rooms have state-of-the-art visualization instruments to support minimally invasive procedures. These overall factors contribute to the growth of the hospitals segment.
Visualization Instruments for MIS Market by Region
Geographically, the global visualization instruments for MIS market have been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Europe region accounted for a prominent revenue share in the market, attributed to the presence of advanced healthcare systems, technological innovations, and focus on research and development. Europe has a strong reputation for technological advancements in healthcare. The region is home to renowned medical device manufacturers and research institutions that drive innovation in visualization instruments for MIS. European companies have significantly contributed to developing advanced imaging technologies, surgical navigation systems, and visualization software. Additionally, companies across the region are continuously involved in partnerships, mergers, and acquisitions, which are also expected to improve the visualization instruments for MIS market outlook.
Similarly, Asia Pacific is expected to be the fastest-growing segment throughout the forecast period with a CAGR of 7.8%, attributed to population growth, rising income levels, and improving healthcare access, and increasing adoption of minimally invasive surgery. The Asia Pacific region has a large and diverse patient population. The increasing demand for surgical interventions and the need for improved patient outcomes contribute to the adoption of visualization instruments.
Visualization Instruments for MIS Market Competitive Landscape
The prominent players operating in the global visualization instruments for the MIS market are:
Visualization Instruments for MIS Market Strategic Developments
Visualization instruments play a critical role in minimally invasive surgery (MIS) by providing surgeons with a clear and magnified view of the surgical site.
The global visualization instruments for MIS market was valued at US$ 11.04 billion in 2022.
The estimated market size of the global visualization instruments for MIS market in 2031 is US$ 20.83 billion.
The revenue CAGR of the visualization instruments for MIS market during the forecast period will be 7.31% from 2023 to 2031.
Some key companies operating in the global visualization instruments for MIS market are Olympus Corporation, Arthrex GmbH, CONMED Corporation, Millennium Surgical Corp., Richard Wolf GmbH, and Lazurite Holdings LLC.
*Insights on financial performance are subject to the availability of information in the public domain
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