The report “Minimally Invasive Surgical Instruments Market by Product (Handheld Instruments, Guiding Device, Inflation Systems, Auxiliary Instruments, Cutter Instruments), Application (Cardiothoracic, Vascular Surgery, Cosmetic, Urological) - Global Forecast to 2019”, provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends and strategies impacting the global market along with estimates and forecast of revenue.
The Minimally Invasive Surgical Instruments Market is poised to reach $14,133.0 million by 2019 from $10,526.2 million in 2014, at a CAGR of 6.1% from 2014 to 2019.
The increasing number of surgical procedures among the elderly, the advantages of minimally invasive surgeries over traditional open surgeries, and reduced healthcare costs owing to minimally invasive surgeries are the key factors driving the growth of this market. On the other hand, the high cost of MIS instruments, reimbursement challenges in the medical device industry, and an uncertain regulatory framework in the medical device industry are factors that are hindering the growth of the MIS instruments market.
On the basis of products, the MIS instruments market is segmented into handheld instruments, cutter instruments, inflation systems, guiding devices, and auxiliary instruments. The handheld instruments segment is further categorized into forceps, spatulas, retractors, dilators, graspers, stents, and others. The guiding devices segment is bifurcated into guiding catheters and guidewires. The inflation segment is further categorized into balloons, balloon inflation devices, and others. The cutter instruments segment is categorized rasps, trocars, and others. The handheld instruments segment accounted for the largest share of 31.6% of the global MIS instruments market in 2014.
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On the basis of applications, the Minimally Invasive Surgical Instruments Market is segmented into cardiothoracic surgery, vascular surgery, cosmetic/bariatric surgery, gastrointestinal surgery, gynecological surgery, urological surgery, orthopedic surgery, and others. Orthopedic surgery is expected to be the fastest-growing segment. On the basis of regions, the MIS instruments market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America accounted for the largest share of the MIS instruments market, followed by Europe and Asia Pacific. Both these markets are estimated to register single-digit growth rates over the next five years. However, Asia-Pacific is expected to register the highest growth rate during the forecast period owing to the increasing government support, growth in the purchasing power in the middle class population, and increasing awareness about MIS techniques in different surgical procedures. Growth of the MIS instruments market in the Asia-Pacific region will revolve around China, India, Australia, and Japan.
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The major players in this market include Medtronic plc (U.S.), Smith & Nephew plc (U.K.), Aesculap Inc., (Germany), Ethicon, Inc. (U.S.), and Stryker Corporation (U.S.).
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