Minimally Invasive Surgical Instruments Industry Growth, Development and Forecast Report 2030

Posted by Aryan on August 17th, 2023

In 2022, the minimally invasive surgical instruments market was worth around USD 21,312.4 million, and it is projected to advance at a 7.2% CAGR from 2022 to 2030, hitting USD 37,155.7 million by 2030, according to P&S Intelligence.

This growth can be credited to the increasing research and development expenditure in the healthcare industry, the increasing occurrence of chronic syndromes, the high acceptance rate of progressive innovative technology in healthcare, and the increasing load of non-communicable illnesses.

In 2022, the handheld instruments category held the largest market share of approximately 40%, and the category is also projected to continue to be dominance in the future as well. This is mainly because of the growing acceptance of these instruments for several MIS operations, the growing adoption of robotic operations, and the increasing preference of doctors for these instruments.

Furthermore, such instruments are cost-effective, simple to use, and majorly utilized throughout the world, resulting in high sales in the category. The category comprises numerous kinds of instruments, in which cutters held the larger market share in 2022.

There has been a standard shift in surgical measures from orthodox surgeries to minimally invasive operations. Minimally invasive surgeries are video-aided and are greatly precise. Such operations require less damaging and smaller cuts, retaining the organ’s original structure without distorting layers of its cellular.

Furthermore, carbon dioxide is utilized in minimally invasive surgery to expand the abdominal cavity to decrease blood loss in the surgery. Also, less post-operative discomfort in minimally invasive operations contributes to the rising status of minimally invasive operations.

The development of these instruments industry is projected to be catalyzed by chances in untapped and developing marketplaces with huge potential because of the better healthcare infrastructure, unmet healthcare requirements, increase in chronic illnesses, and surge in need for lucrative and reduced recovery time operations.

Furthermore, the healthcare market in developing countries is rising at a significant pace credited to growth in demand for advanced healthcare services, substantial investments by governments in order to expand healthcare infrastructure, and progress of the medical tourism sector in these nations.

Download sample pages of this report: https://www.psmarketresearch.com/market-analysis/minimally-invasive-surgical-instruments-market/report-sample

In 2022, North America dominated the minimally invasive surgical instruments market, with the largest revenue share of approximately 40%, and it is also projected to continue with the dominance in the future as well.

This can be ascribed to the existence of deep-rooted healthcare systems, the surge in the occurrence of illnesses, including orthopedic and cardiac disorders, a higher acceptance rate for technologically progressive devices, and a moving preference towards outpatient operations.

Hence, the increasing research and development expenditure in the healthcare industry, increasing occurrence of chronic syndromes, and the high acceptance rate of progressive innovative technology in the healthcare sector are the major factors propelling the minimally invasive surgical instruments industry.