Minimally Invasive Surgery Market Worth $74.6 billion | MarketsandMarkets(TM)

CHICAGO, March 12, 2024 /PRNewswire/ -- Minimally Invasive Surgery Market in terms of revenue was estimated to be worth $34.0 billion in 2024 and is poised to reach $74.6 billion by 2029, growing at a CAGR of 17.0% from 2024 to 2029 according to a new report by MarketsandMarkets(TM). The expansion of the minimally invasive surgery market is propelled by several synergistic factors, including increasing demand for MIS procedures, escalating chronic disorder prevalence, increasing geriatric patient population, rising public-private investments to support for the clinical research and the presence of key market players in developing regions.

https://mma.prnewswire.com/media/2297424/MarketsandMarkets_Logo.jpg

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=787

Browse in-depth TOC on "Minimally Invasive Surgery Market"

240 - Tables
40 - Figures
115 - Pages

Minimally Invasive Surgery Market Scope:

                 Report Coverage 
     
              Details



     Market Revenue in 2024                                              
            $34.0 billion


      Estimated Value by 2029                                             
            $74.6 billion



     Growth Rate                                              Poised to grow at a CAGR of 17.0%


      Market Size Available for  
     2021-2029



     Forecast Period            
     2024-2029



     Forecast Units             
     Value (USD Billion)



     Report Coverage              Revenue Forecast, Competitive Landscape, Growth Factors, and
                                    Trends



     Segments Covered           
     Product, Application, End User and Region



     Geographies Covered          North America, Europe, Asia Pacific, Latin America and Middle
                                    East & Africa



     Report Highlights            Updated financial information /product portfolio of players


      Key Market Opportunities   
     Emerging markets- growth opportunities



     Key Market Drivers         
     Increase adoption of MIS over open surgeries

Imaging & Visualization systems segment to register a significant growth rate over the forecast period of 2023-2029.

Based on the product, the minimally invasive surgery market is segmented into Surgical Devices, Imaging & Visualization Systems, Endoscopy Devices, Electrosurgical Devices, and Medical Robotics. The surge in chronic disorder and less invasive surgical procedures often involve imaging systems to visualize the affected area. Furthermore, these innovations provide surgeons with enhanced clarity and precision in observing the surgical site, resulting in reduced tissue trauma, shorter operative durations, expedited patient recovery, and improved overall outcomes.

Cardio-thoracic surgery segment accounted for the significant share of the minimally invasive surgery market in 2023-2029.

Based on the application, cardio-thoracic segment accounts largest market share in minimally invasive surgery market. Key drivers propelling the adoption of minimally invasive surgery (MIS) in cardio-thoracic procedures encompass technological advancements, particularly in precision surgical tools and imaging modalities. As clinicians accrue expertise in MIS methodologies, they exhibit greater confidence in applying these techniques to intricate cardio-thoracic interventions. Additionally, evolving healthcare policies and reimbursement frameworks incentivizing cost-effective and streamlined treatment pathways further bolster the uptake of MIS in cardio-thoracic surgery

North America to account for a significant market share in the minimally invasive surgery market in 2023.

Based on region, The minimally invasive surgery market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, with North America dominating the market share in 2023. This dominance in North America is propelled by factors such as a growing aging population, a high incidence of chronic disorder, a rise in demand for minimally invasive surgical procedures, and the presence of strong players with robust minimally invasive surgery portfolios. Furthermore, growing research and funding initiatives from public and private organizations are expected to further boost the minimally invasive surgery market in North America.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=787

Minimally Invasive Surgery Market Dynamics:

Drivers:

1. Increase adoption of MIS over open surgeries

Restraints:

1. High cost of Robotic systems

Opportunities:

1. Emerging markets- growth opportunities

Challenge:

1. High degree of market consolidaton

Key Market Players of Minimally Invasive Surgery Industry:

As of 2023, prominent players in the minimally invasive surgery market are Medtronic (Ireland), Johnson & Johnson (US), NuVasive (US), Becton, Dickinson & Co. (US), Stryker Corporation (US), Zimmer Biomet Holdings (US), Abbott Laboratories (US) and Boston Scientific Corporation (US), GE healthcare (US), among others.

A breakdown of the primary participants referred to for this report is provided below:

    --  By Company Type: Tier 1-40%, Tier 2-30%, and Tier 3- 30%
    --  By Designation: C-level-- 27%, Director-level-18%, and Others-55%
    --  By Region: North America-50%, Europe-20%, Asia Pacific-15%, Latin
        America-10%, and the Middle East & Africa-5%

Recent Developments of Minimally Invasive Surgery Industry:

    --  In 2023, Medtronic receives CE Mark approval for Affera Mapping and
        Ablation System to treat atrial arrhythmias.
    --  In 2023, J&J MONARCH Platform is the first minimally invasive,
        robotic-assisted technology approved for bronchoscopy in China with
        significant burden of lung cancer.
    --  In 2023, Stryker's Q Guidance System for cranial applications received
        US FDA clearance to support cranial surgeries.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=787

Minimally Invasive Surgery Market - Key Benefits of Buying the Report:

The report will help the new entrants/ market leaders/smaller firms in this market with investment evaluation viability within the minimally invasive surgery market through a thorough analysis of comprehensive data, thereby facilitating robust risk assessment and enabling well-informed investment determinations. Benefit from meticulous market segmentation encompassing application, end-user, and regional dimensions, affording tailored insights for precise segment targeting. The report also provides an all-encompassing evaluation of encapsulating pivotal trends, challenges, growth catalysts and prospects, thereby empowering strategic decision-making with astute discernment.

The report provides insights on the following pointers:

    --  Analysis of key drivers (increasing prevalence of chronic disorder
        diseases, Increasing number of hospitals coupled with increasing number
        of surgical procedures worldwide, adoption of MIS over open surgeries),
        restraints (changing regulatory landscape in medical device industry and
        high cost of robotic systems), opportunities (increasing adoption of
        advanced robotics in ASCs, Emerging markets offers high-growth
        opportunities), and challenges (High degree of market consolidation)
        influencing the growth of the minimally invasive surgery market
    --  Product Development/Innovation: Detailed insights on upcoming
        technologies, research & development activities, and new product &
        service launches in the minimally invasive surgery market.
    --  Market Development: Comprehensive information about lucrative markets -
        the report analyses the minimally invasive surgery market across varied
        regions.
    --  Market Diversification: Exhaustive information about new products,
        untapped geographies, recent developments, and investments in the
        minimally invasive surgery market
    --  Competitive Assessment: In-depth assessment of market shares, growth
        strategies, and service offerings of leading players like Medtronic
        (Ireland), Johnson & Johnson (US), Stryker Corporation (US), Boston
        Scientific Corporation (US), among others.

Related Reports:

Healthcare Simulation Market - Global Forecasts to 2028

Electrosurgery Market - Global Forecasts to 2027

Endoscopy Equipment Market - Global Forecasts to 2027

Soft Tissue Repair Market - Global Forecasts to 2027

Patient Monitoring Devices Market - Global Forecasts to 2027

About MarketsandMarkets(TM):

MarketsandMarkets(TM) has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets(TM) is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore(TM) (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets(TM).com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets(TM) INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insights https://www.marketsandmarkets.com/ResearchInsight/minimally-invasive-surgery-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/minimally-invasive-surgery.asp

Logo: https://mma.prnewswire.com/media/2297424/MarketsandMarkets_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/minimally-invasive-surgery-market-worth-74-6-billion--marketsandmarkets-302086290.html

SOURCE MarketsandMarkets