The global MIS instruments market is projected to surge from USD 20.2 billion in 2021 to USD 28.9 billion by 2026, reflecting a compound annual growth rate (CAGR) of 7.4% during the forecast period. This growth is primarily driven by the increasing volume of surgical procedures worldwide, the numerous advantages of MIS over traditional open surgeries, and the rising adoption of advanced robotics in ambulatory surgery centers (ASCs). However, the market faces challenges due to the high degree of consolidation among players and the significant capital investments required.
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Key Market Segments and Insights
Dominance of Handheld Instruments
In 2020, the handheld instruments segment held the largest share of the MIS instruments market by product segment. The growth of this segment can be attributed to the cost-effectiveness of articulating laparoscopic handheld surgical instruments. These tools are extensively used in cardiothoracic, arthroscopy, urology, cardiovascular, and neurological surgeries.
Hospitals and Specialty Clinics Lead
The market is segmented by end user into hospitals and specialty clinics, and ambulatory surgery centers. In 2020, hospitals and specialty clinics dominated the market due to their substantial investments in lab automation and information management. These institutions are better equipped to conduct multiple tests, and countries like India and China are increasing the number of hospitals, further boosting the adoption of MIS instruments in these settings.
Leading Companies in the Market
Prominent players in the MIS instruments market include:
- Medtronic plc (Ireland)
- Johnson & Johnson (US)
- Stryker Corporation (US)
- Abbott Laboratories, Inc. (US)
- Boston Scientific Corporation (US)
- B. Braun Melsungen AG (Germany)
- CONMED Corporation (US)
- Smith & Nephew plc (UK)
- Zimmer Biomet Holdings, Inc. (US)
- Becton, Dickinson and Company (US)
- The Cooper Companies Inc. (US)
- HOYA Corporation (Japan)
- Surgical Innovations Group plc (UK)
- Koninklijke Philips N.V. (Netherlands)
- FUJIFILM Holdings Corporation (Japan)
- KARL STORZ SE & Co. KG (Germany)
- Applied Medical Resources Corporation (US)
- KLS Martin Group (Germany)
- Scanlan International, Inc. (US)
- Wexler Surgical (US)
- STRAUSS SURGICAL (US)
- AMNOTEC International Medical GmbH (Germany)
- EndoMed Systems GmbH (Germany)
- TROKAMED GmbH (Germany)
- Surgical Holdings (UK)
Medtronic plc: Market Leader
In 2020, Medtronic plc held the leading position in the MIS instruments market. The company maintains its leadership through a robust distribution network across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Medtronic employs inorganic growth strategies to bolster its market dominance. For instance, the acquisition of Titan Spine in June 2019 enhanced Medtronic’s portfolio in spine surgery procedural solutions, reinforcing its market presence.
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Regional Growth Insights
Rapid Growth in the Asia Pacific
The Asia Pacific region is anticipated to be the fastest-g
rowing market for MIS instruments during the forecast period. Factors contributing to this growth include a rising incidence of chronic diseases, an increasing number of hospitals and healthcare professionals, improved affordability, a large patient population, booming medical tourism, and favorable government policies. Additionally, the region’s regulatory environment is more adaptive and business-friendly compared to developed countries, attracting key market players.
Conclusion
The outlook for the global minimally invasive surgical instruments market remains positive, driven by the increasing adoption of MIS techniques, technological advancements, and the growing burden of chronic diseases. As established players continue to lead, emerging markets, particularly in the Asia Pacific region, present significant growth opportunities. To maintain and strengthen their market positions, companies must focus on innovative technologies and strategic partnerships.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
The global minimally invasive surgical instruments market is projected to reach USD 28.9 billion by 2026 from USD 20.2 billion in 2021, at a CAGR of 7.4% during the forecast period. Growth in this market is mainly driven by factors such as the increasing number of surgical procedures worldwide, the advantages of MIS over open surgical techniques, and the increasing adoption of advanced robotics in ASCs. However, the high degree of market consolidation among market players and the requirement of high capital investments are the major factors hampering the growth of this market.
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The handheld instruments segment accounted for the largest share of the minimally invasive surgical instruments market, by product segment, in 2020
The minimally invasive surgical instruments market is segmented into handheld instruments, inflation devices, surgical scopes, cutting instruments, guiding devices, electrosurgical & electrocautery instruments, and other instruments. The growth of the handheld instruments segment can be attributed to the low cost of articulating laparoscopic handheld surgical instruments. These instruments are commonly used in applications such as cardiothoracic, arthroscopy, urology, cardiovascular, and neurological surgeries.
The hospitals and specialty clinics segment accounted for the largest share of the minimally invasive surgical instruments, by end user segment, in 2020
The minimally invasive surgical instruments market is segmented into hospitals and specialty clinics and ambulatory surgery centers. In 2020, the hospitals and specialty clinics segment accounted for the largest share of the minimally invasive surgical instruments market. Hospitals and specialty clinics have larger investments in lab automation and information management as compared to other end users. They are well-equipped to carry out multiple tests. Owing to such advantages, economies like India and China are focusing on increasing the number of hospitals in their respective healthcare systems. Therefore, the adoption of minimally invasive surgical instruments is higher in hospitals and specialty clinics.
The key players in this market are Medtronic plc (Ireland), Johnson & Johnson (US), Stryker Corporation (US), Abbott Laboratories, Inc. (US), Boston Scientific Corporation (US), B. Braun Melsungen AG (Germany), CONMED Corporation (US), Smith & Nephew plc (UK), Zimmer Biomet Holdings, Inc. (US), Becton, Dickinson and Company (US), The Cooper Companies Inc. (US), HOYA Corporation (Japan), Surgical Innovations Group plc (UK), Koninklijke Philips N.V. (Netherlands), FUJIFILM Holdings Corporation (Japan), KARL STORZ SE & Co. KG (Germany), Applied Medical Resources Corporation (US), KLS Martin Group (Germany), Scanlan International, Inc. (US), Wexler Surgical (US), STRAUSS SURGICAL (US), AMNOTEC International Medical GmbH (Germany), EndoMed Systems GmbH (Germany), TROKAMED GmbH (Germany), and Surgical Holdings (UK).
In 2020, Medtronic plc held the leading position in the minimally invasive surgical instruments market. The company has maintained a leading position in the market through its strong distribution networks across North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The company adopts inorganic growth strategies to increase its dominance in this market. For instance, in June 2019, the company acquired Titan Spine (Germany). This acquisition strengthened Medtronic’s position as a leading innovator in procedural solutions for spine surgery. Such developments will enable Medtronic to add innovative technologies and products to its portfolio, which, in turn, will strengthen its presence in the minimally invasive surgical instruments market.
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Asia Pacific is expected to be the fastest growing region during the forecast period.
The rising incidence of chronic diseases, the continuous increase in the number of hospitals and doctors and the increase in affordability, presence of a large patient pool undergoing surgical treatments, increasing medical tourism, and the favorable government policies are some of the major factors which are expected to fuel the growth of the regional market during the forecast period. In addition, the regulatory policies in the Asia Pacific region are more adaptive and business-friendly than those in developed countries. This has drawn key players in the minimally invasive surgical instruments market to focus on APAC countries.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]