Global Minimally Invasive Market Devices Forecast 2017-2025
The global minimally invasive devices market collected a revenue of $16998 million in 2017. It is expected to grow at a CAGR of 6.61 % between the forecast periods of 2017- 2025 and generate a revenue of $28361.80 million by 2025. The popularity of minimally invasive procedures, advances in technology, the rise in physician-owned ASCA, and increasing prevalence of spinal disorders are the major drivers for the minimally invasive market.
The minimally invasive market is segmented by equipment type, application, and end-user. The equipment type includes surgical devices, monitoring/visualization devices, end surgical instrument, electrosurgical and auxiliary equipment, and the robotics/computer-assisted devices. Surgical devices are anticipated to lead the global minimally invasive equipment type, closely followed by the robotics/computer-assisted equipment which is anticipated to grow at a CAGR of 8.40%. In terms of application, the Cardiothoracic application is expected to dominate the Global minimally invasive market. Other applications include the orthopedic application, which is anticipated to grow at a CAGR of 7.11% during the forecast period, the gastrointestinal application, gynecological application, urological application, vascular application, thoracic application and the cosmetic application. The end-users for the minimally invasive market are hospitals, stand-alone outpatient surgery centers, individual physicians/surgeon, medical education institutes and others.
North America is expected to hold the highest share in the global minimally invasive market by the year 2025 because of the presence of leading vendors and advanced infrastructure-based facilities in regions such as the US and Canada. The Asia-Pacific market is expected to show a significant growth of 8.4% CAGR during the forecast period, with Japan being the major contributor for this region. The developed countries such as UK, Germany, France, Italy, etc. in the European market also possess advanced medical infrastructure and are increasingly adopting the minimally invasive techniques. The Europe market holds a share of 22% as of 2017 and is expected to grow at a CAGR of 7.8% during the forecast period.
Ethicon Inc a subsidiary of Johnson & Johnson, is one of the top companies providing advanced surgical instruments for minimally invasive as well as traditional surgeries. The other major players in the market include Abbot Laboratories, C. R. Bard, Inc., Boston Scientific Conmed Corp., Zimmer-Biomet Holdings Inc, Ethicon Inc., Cooper Surgical Inc Getinge AB, Hitachi High- Technologies Corporation, Hill-Rom Holdings, Inc. Hologic, Inc., Intuitive Surgical, Inc., Medtronic Inc., Integrated Endoscopy Inc, Olympus Optical Co. Ltd., Smith & Nephew Plc., Stryker Corp., Philips Healthcare, and Toshiba Medical Systems.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook