Market Overview –
In 2020, the Global Minimally Invasive Surgical Instruments Market had a market share of USD 20.878 billion worldwide. During the forecast period, it is expected to grow at a CAGR of 7.214 percent to reach USD 41.767 billion. In order to reduce the amount of trauma to the patient’s body, a technique known as Minimally Invasive Surgery (MIS) is used. Endoscopes and thin needles are used in the procedure. Oncology diagnostics, joint and hip replacements, gallbladder issues and spinal disorder treatment are just a few of the many procedures that utilise MIS.
Cancer is a major cause of death for people all over the world. GLOBOCAN 2020 estimates that the global cancer death toll has risen to a record-breaking 10 million, with an estimated 19.3 million new cancer cases.
Nearly 1 million knee and hip replacement surgeries are performed in the United States each year, according to THE CENTER (Orthopaedic and Neurosurgical Care and Research). Nearly 67.3% of total knee replacement surgeries are expected to be performed by 2030. (i.e., 3.5Mn procedures per year). It is estimated that approximately 60% of all knee implant surgeries are done on women. People who have undergone knee replacement surgery report a significant reduction in knee pain.
Market Scope and Market Size –
Segmentation of the Global Minimally Invasive Neurosurgical Devices Market is done by product, surgery type, end user, and geographic region. With the growth in these segments, it will be easier to identify industries with modest growth and provide users with a clear picture of the marketplace and useful market insights to aid in the identification of key market applications.
The market is divided into surgical devices, monitoring and visualisation devices, and endoscopy devices based on product type. Ablation devices, such as radiofrequency ablation, microwave ablation, cryoablation, and others, are a subset of surgical instruments. X-rays, computed tomography scanners, magnetic resonance imaging scanners, ultrasound equipment, and other imaging devices are subcategories of visualisation devices.
Endonasal neurosurgery, intracranial surgery, spinal surgery, and other types of surgery make up the majority of the market. Cosmetic, bariatric, vascular, gynaecological, cardiac, gastrointestinal, thoracic, breast, and orthopaedic surgeries are all subcategories of urological, vascular, and cardiac surgeries, among others
Hospitals, clinics, medical institutions, and others make up the bulk of the market, which is divided into subsectors based on the intended end user.
COVID-19 Impacts –
Over the past 18 months, nearly every industry has been adversely affected. In the wake of numerous precautionary lockdowns and other restrictions imposed by governing authorities around the world, these companies experienced significant disruptions in their manufacturing and supply-chain operations. The Minimally Invasive Neurosurgery Devices market is no different. Individuals are now more concerned about cutting non-essential expenses from their budgets, as the general economic status of most people has been severely affected by this outbreak. The Minimally Invasive Neurosurgery Devices market’s revenue trajectory is expected to be negatively impacted by the above-mentioned factors during the forecast period. This market’s recovery is expected to begin as soon as the relevant governing authorities begin to lift these enforced restrictions.
Market Dynamics –
A paradigm shift has occurred in operating rooms due to technological advancements in minimally invasive surgeries (MIS) over the past few decades. The advantages of minimally invasive surgical procedures like laparo-endo single-incision surgery (LESS) over more traditional open procedures have prompted the majority of surgeons to use them. Reduced scarring and tissue damage, faster recovery times, shorter hospital stays, less blood loss and trauma, lower infection risk, and lower healthcare costs are just a few of the benefits. In some countries, health insurance providers are beginning to cover minimally invasive surgeries. Patients’ preference for minimally invasive procedures has risen as a result of these developments.
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In countries like India, South Korea and Malaysia, as well as the Middle East, such as Israel, Saudi Arabia and the UAE, major market players can take advantage of significant growth opportunities. This is due to the fact that there are fewer regulations, healthcare infrastructure has improved, the patient population is growing, and healthcare expenditures are rising. Regulatory policies in the Asia Pacific region are more flexible and business-friendly than those in developed countries. Emerging countries have become a major focus for key players in minimally invasive surgical instruments because of increasing competition in mature markets.
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Competitive Landscape –
Market competition for minimally invasive neurosurgical devices is described in detail by competitor. Details include an overview of the company, financials, revenue generated, market potential, research and development investments, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The information provided above only pertains to the companies’ interest in the market for neurosurgical devices that require minimally invasive techniques.
Key Players –
Ѕmіth & Nерhеw
By Type –
By Applications –
By Regions –
Middle East & Africa