Minimally Invasive Surgical Instrument Market Size To Surpass USD 96.1 Billion By 2033

According to Market.us, the global minimally invasive surgical instrument market size is forecasted to surpass around the US$ 96.1 billion by 2033, and expected to reach a CAGR of 10.6% from 2024 to 2033.

The global minimally invasive surgical instrument market was valued at the US$ 35.1 billion in 2023. The devices used to perform minimally invasive surgery involving smaller incisions recovering within compact period of time is known as Minimally Invasive Surgical Instruments (MISI). The significant factor driving the minimally invasive surgical instruments market is the cost effectiveness of the procedure compared to open and in-patient surgeries. In addition to this, the increasing product launch and their approvals from market players to achieve a major market portion is another important market pulling factor.

Key Takeaway

• The incorporation of surgical robotics in minimally invasive surgery has revolutionized the healthcare sector.
• MISI access organs through keyhole incisions such as arthroscopic, laparoscopic and robotic assisted procedures.
• By product type analysis, handheld instruments captured a large market share of 23.6%, dominating the MISI market in 2023.
• By application analysis, orthopaedics segment held a commanding position in the marketplace and holds 24.4% of the market share and promises to show growth during the forecast period.
• Due to advancements in minimally invasive cardiac surgeries, cardiac segment is anticipated to register robust growth.
• By end user analysis, hospital segment dominated the MISI market in 2023 and holds 71.8% market share.
• North America is accounted to hold a measurable market share of 32.49% in recent times.

Factors affecting the growth of the global minimally invasive surgical instruments industry ?

There are several factors that can affect the growth of the global minimally invasive surgical instruments market. Some of these factors include:

• Rising Incidence of Chronic Diseases: The increase in the prevalence of chronic diseases has significantly contributed to the growth of the minimally invasive surgical instruments market.
• Increasing Demand for Minimally Invasive Procedures:  There is a growing demand for minimally invasive procedures driven by factors such as the desire for quick recovery within compact period of time.
• Advantages over traditional surgery: The time taking traditional surgeries are now avoided in order to complete and recover in less period of time, thus fueling the market.
• Regulatory Considerations:  The minimally invasive surgical instruments market may face regulatory constraints and requirements imposed by health authorities and regulatory bodies. Compliance with safety standards, product approvals, and quality assurance processes can increase the time and cost of bringing new devices to market and limit the entry of new players.

Top Trends in Global  Mininally Invasive Surgical Instruments market

The incorporation of minimally invasive surgeries for the purpose of breast and abdominal cancers, neurological procedures proves to be a more effective option in comparison with open surgeries. The visualization and handling of tissues has improved to a greater extent with the implementation of virtual reality in operating rooms leading to more precise surgeries. In addition to this, the market faced a robust growth with the rise in ambulatory surgical centres in US, and their adoption of advanced robotics for complex cases.

Market Growth

The increasing disposable income of consumers and worldwide acceptance of non-invasive procedures for improving health through wide applications is expected to surge the market growth during the forecast period. However, the adverse effects and competition from the alternative treatments are likely expected to impede the market growth.

Regional Analysis

North America ranked first in the global minimally invasive surgical instrument market, capturing a measurable market share of 32.49% with a valuation of USD 10.3 billion. With the advanced healthcare infrastructure, adoption of technologically advanced surgical procedures and rising pervasiveness of chronic diseases, the region faced tremendous growth opportunities. The per capita healthcare expenditure in US is relevantly higher than any other country, as per Organization of Economic Cooperation and Development.

On the other hand, owing to the rise of chronic disease cases, expansion of healthcare infrastructure, affordability of the surgical procedures, government initiatives and adaptive regulatory policies led Asia-Pacific region to snatch a fastest growing market during the forecast period.

By Geography

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Scope of the Report

Report Attributes	Details
Market Value (2023)	US$ 35.1 billion
Market Size in 2033	US$ 96.1 billion
CAGR (2024 to 2033)	10.6%
North America Revenue Share	32.49%
Historic Period	2018 to 2022
Base Year	2023
Forecast Year	2024 to 2033

Market Drivers

Owing to less trauma, rapid recovery, reduced scarring and shorter hospital stays, a large patient pool now prefer opting minimally invasive surgeries as compared to the traditional ones. Thus, these benefits of MISI upscales the demand undoubtedly on a higher level. Additionally, there is an increasing need for less invasive surgeries among the patients dealing with chronic diseases such as heart conditions, cancer and orthopedic issues. Thus, these emerging needs of population fosters the MISI market substantially in the upcoming days.

Market Restraints

No doubt about the advancements in minimally invasive surgical instruments, but unfortunately these are associated with high costs. In addition to this, in developing economies there is a limited technological access coupled with poor healthcare infrastructure. Many a times, the emerging products comes across delayed approvals through FDA. Thus, these factors can unfortunately become roadblocks in the expansion of MISI market in the near future.

Opportunities

The emergence of new entrants in the market in parallel with increasing partnerships and acquisitions among the major market players, the market is anticipated to catch a robust expansion during the prophecy period. In addition to this, the uninterrupted arrival of new surgical instruments with advancing features like smaller devices, improved imaging, and robotic systems offers new opportunities to the device manufacturers to gain sky reaching revenues.

Impact of macroeconomic factors

Russia-Ukraine conflict led to the rise of inflation in worldwide scenario. The political and economic uncertainly caused by Russia-Ukraine conflict has led to potential implication on demand-supply balances as well as creating a pressure on pricing variants, import, export and trading. This significantly led to high inflation rate across the globe. The increasing inflation in turn impacted demand, supply of raw materials, cash flow, and currency exchange. Thus, the cumulative impact of these macroeconomic factors substantially affected the minimally invasive surgical intruments market, hence declining the global economy.

Market Segmentation

Product Type Analysis

Based on product, the MISI market is broadly categorized into handheld instruments, inflation devices, surgical scopes, cutting instruments, guiding devices, electrosurgical and electrocautery instruments. Amongst these variable segments,handheld instrument segment came up as a frontrunner in the global MISI market. The respective segment is known to carry a considerable market portion of 23.6%, making a prominent place in the market climate. This success owes to the ease and versatile nature of the segment coupled with advances in ergonomic design and material technology.

Furthermore, a steady market growth is seen by inflation device segment being used for endoscopic and laparoscopic surgeries. The another vital segment contributing to the growth of MISI market is surgical scopes segment. Providing visual access to internal body parts, the segment comprises of endoscopes and laparoscopes. These instruments acts as an indispensible tool in modern surgery, thus promising the market boost. The another crucial devices such as cutting instruments, guiding devices, electrosurgical and electrocautery instruments further has an important role in minimizing the procedure time with recovery time reduction and greater emphasis on patient safety.

By Product Type

• Handheld Instruments
• Inflation Devices
• Surgical Scopes
• Cutting Instruments
• Guiding Devices
• Electrosurgical & Electrocautery Instruments
• Other Instruments

Application Analysis

Based on application of MISI, the market is fragmented into orthopedic, cardiac, gastrointestinal, vascular, gynaecological, urological, thoracic, cosmetic and dental applications. The orthopedic segment is accounted to hold a large market share of 24.2%, dominating the global MISI market in 2023. This dominance owes to the increasing demand for minimally invasive procedures in joint replacements and spine surgeries along with rising elderly population and sport injuries. Further, a robust growth is observed by the cardiac segment owing to the MISI advances incorporated into valve replacement and bypass surgeries. Gastrointestinal segment proved a record breaking growth in recent times by virtue of the use of endoscopies and colonoscopies to treat gastrointestinal disorders. A steady market growth is registered by vascular segment due to rising pervasiveness of vascular diseases opting for angioplasty and stenting.

Moreover, hysterectomies and fibroid removals have gained a traction, thereby fueling the gynaelogical segment. The incorporation of minimally invasive surgical instruments to treat urinary tract infection and kidney disorders resulted the urological segment to contribute a wealthy market share in the global MISI market.

By Application

• Cardiac
• Gastrointestinal
• Orthopedic
• Vascular
• Gynecological
• Urological
• Thoracic
• Cosmetic
• Dental
• Other Applications

End User Analysis

With respect to end use of MISI, the market is segmented into hospitals, clinics and ambulatory surgical centres. The hospital segment marked a strong imprint in the global MISI marketplace. This led the segment to hold a remarkable market share of 71.8%, dominating the market in 2023. The prominence is highly attributed to the comprehensive range of surgeries performed in hospitals maintaining a advanced infrastructure coupled with availability of diverse specialties under one roof.

Furthermore, ambulatory surgical centres experienced a considerable growth by providing day surgeries, being less invasive recovering within shorter period of time. Also ASCs, contribute to offer rapid, effective, safe and cost-effective surgical procedures, thus further bolstering the market position.

By End-use

• Hospitals & Clinics
• Ambulatory Surgical Centers

Recent Development

• In August 2023: New AI-powered surgical navigation system was launced by Viseon Inc, in order to perform minimally invasive spine surgery.
• In September 2022: The expansion of MI spine surgery ecosystem was expanded by ‘Medtronic’, which included next generation of spinal technologies. This was the only organization to provide combined data of combination of biologics, spinal implants, navigation and robotics to the surgeons worldwide.
• In November 2021: Robot Assisted Surgical System was unveiled by Johnson and Johnson to provide more control and flexibility in minimally invasive surgery procedures.

Competitive Landscape

• Medtronic: A leading innovator in minimally invasive surgery (MIS) technologies. Known for advanced surgical instruments that enhance patient outcomes and operational efficiency.
• Siemens Healthineer AG: Distinguished for integrating cutting-edge imaging technologies with MIS tools. Facilitates precise diagnostics and interventions, improving clinical outcomes.
• HOYA Corporation: Specializes in optical products and endoscopic solutions. Their contributions to MIS include high-quality imaging systems and instruments, supporting delicate surgical procedures.
• Ethicon Inc. (Johnson & Johnson): Renowned for pioneering surgical sutures and staplers. Ethicon’s products are pivotal in reducing surgery time and enhancing recovery in MIS.
• Depuy Synthes (Johnson & Johnson): A leader in orthopedic and neurosurgery instruments. Their MIS technologies focus on improving patient care and surgical precision.
• GE Healthcare: Excel in providing imaging, ultrasound, and monitoring equipment for MIS. Their technologies enable better visualization and navigation during procedures.
• B. Braun Melsungen AG: Known for innovative MIS instruments and solutions in anesthesia and wound care. Their products aim at making surgeries safer and less invasive.
• Abbott Laboratories: Engages in the development of medical devices critical to MIS, including vascular and cardiac devices. Their technologies support minimally invasive cardiac surgeries.
• Intuitive Surgical Inc.: Pioneers in robotic-assisted minimally invasive surgery with their da Vinci Surgical System. Enhances surgical precision, flexibility, and control beyond conventional capabilities.
• Stryker Corporation: Focuses on innovative MIS technologies across orthopedics, neurotechnology, and spine. Their products aim to reduce invasiveness and improve surgical outcomes.