The global market for minimally invasive devices is expected to reach USD 29.2 billion by the end of 2020, growing at a CAGR of around 8.4% from 2014 to 2020.
Minimally invasive procedures are performed through tiny incisions instead of one large opening. Through the tiny incision, the surgeon inserts a thin tube with a small camera attached at the end. Minimally invasive devices are used to carry out these procedures. The main advantages of minimally invasive devices are less pain, shorter hospital stay, less injury to tissue and higher accuracy rate.
Global Minimally Invasive Devices Market-Market Dynamics
The report details several factors driving and restraining the market. Some of these are listed below.
The major trend driving the growth of the minimally invasive device market is the ever-increasing demand for minimally invasive procedures to be undertaken at medical facilities and the ultimate goal of having a better quality of patient life, which can be achieved when surgeries are performed using minimally invasive techniques. Some other factors driving the market are:
Improved patient quality of life
Reduced healthcare expenditure
Increase in the aging population around the globe
Lack of properly skilled labor and stringent regulatory framework are the major challenges faced by the minimally invasive device market.
The global minimally invasive devices market is segregated on the basis of type of products (surgical equipment, which includes needles, retractors, trocars, forceps, staplers, catheters, guide wires, cannula and metal shafts; monitoring & visualization equipment, which includes MRI scanners, CT scanners, X-Ray equipment and ultrasound equipment; robotic-assisted surgical systems, which include da Vinci systems, Zeus robotic surgical systems and others; electrosurgical systems, which include pencils, electrodes, bipolar forceps, electrosurgical accessories, suction coagulators and laparoscopic instruments), technology (laparoscopy, endoscopy, robot - assisted methods, arthroscopic techniques and ablative techniques, which include cryoablation, radiofrequency ablation, microwave ablation, embolization and irreversible electroporation), applications (cardiac surgery, colorectal surgery, dermatological surgery, ENT surgery gastrointestinal surgery, gynecologic surgery, lung & respiratory care, neurosurgery, ophthalmology, orthopedic, urology and weight loss) and region (North America, Europe, Asia-Pacific and Rest of the World).
Some of the key players in the market are:
Boston Scientific Corporation
Given Imaging, Ltd.
Intuitive Surgical, Inc.
Johnson & Johnson, Inc.
What the Report Offers
Market definition for the global minimally invasive devices market along with identification of key drivers and restraints for the market.
Market analysis for the minimally invasive devices market, with region-specific assessments and competition analysis on a global and regional scale.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share.
Identification and analysis of the macro and micro factors that affect the minimally invasive devices market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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