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The global minimally invasive surgical devices market size was valued at USD 27.18 billion in 2023, driven by the increasing demand for minimally invasive procedures across the globe. The market size is anticipated to grow at a CAGR of 9.6% during the forecast period of 2024-2032 to achieve a value of USD 62.08 billion by 2032.
Minimally invasive surgical devices are devices involved in surgical procedures with minimal incisions and stitches. The term minimally invasive refers to minimal incisions that are made on human body in order to perform a surgery with minimum stitches. These devices do not support a specific definition. The small incisions made by minimally invasive devices enable a patient to recover much faster. There are multiple kind of minimally invasive surgical devices that are used in surgeries such as arthroscopic or laparoscopic devices, and even remote-controlled devices that are manipulated with indirect observation through an endoscope or large display panel by a healthcare professional.
The increasing focus on developing more minimally invasive surgical devices backed by advanced technology has been significantly driving the market growth. These advanced technologies might be used in the development of advanced imaging systems, miniature, and flexible devices, along with devices that could also be manipulated from a distance just like remote control devices. The rising competition amongst the key players is leading to the launch of such advanced products in the market, significantly propelling the minimally invasive surgical devices market development.
Robot assisted surgeries are already aiding the global minimally invasive surgical devices market growth. The results of these robot assisted surgeries are much more accurate and positive. This feedback is backed by the statements of real healthcare professionals being a part of these robot assisted surgeries. Due to the list of benefits these minimally invasive surgical devices provide, their demand is likely to continue rising.
Market Breakup by Product Type
Market Breakup by Applications
Market Breakup by End User
Market Breakup by Region
The increasing prevalence of chronic diseases are escalating the demand for minimally invasive surgical procedures over traditional surgical procedures, contributing significantly to the growth of the market. The variety of medical specialization and indications that can be treated utilizing these devices are also anticipated to aid the minimally invasive surgical devices market expansion. Minimally invasive surgical devices are being used more frequently in a range of surgical procedures including gastrointestinal, urological, and cardiovascular surgeries. The increased involvement of advanced technologies in order to develop more efficient minimally invasive devices that would provide more accuracy and precision while performing these surgeries. The market is growing steadily and is expected to grow significantly in the coming years.
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
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Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market attained a value of about USD 27.18 billion in 2023, driven by the rising need for surgeries.
The market is anticipated to grow at a CAGR of 9.6% during the forecast period of 2024-2032 and reach a market value of USD 62.08 billion by 2032.
The increasing prevalence of chronic diseases and increasing demand for minimally invasive procedures are among the key drivers for the market.
The increasing focus on manufacturing more technologically advanced minimally invasive devices is a major key trend in the global minimally invasive surgical devices market.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The different product types of minimally invasive surgical devices in the market include handheld instruments, guiding devices, electrosurgical devices, surgical scopes, ablation devices, monitoring and visualization devices, and robotic-assisted surgical systems, among others.
The end users include hospitals surgical department, outpatient surgery patients, individual surgeons, group practice, among others.
The applications of minimally invasive surgical devices include gastrointestinal surgery, gynaecology surgery, urology surgery, orthopaedic and spine surgery, bariatric surgery, breast surgery, cardiac surgery, cholecystectomy surgery, colectomy surgery, colon and rectal surgery, ear, nose and throat surgery, among others.
Key players involved in the market are Stryker, CONMED Corporation, Intuitive Surgical, NuVasive, Inc., Fortimedix Surgical, Microline Surgical, Cirtec Medical, OmniGuide Holdings, Inc., Arthrex, Inc., Eximis Surgical, Inc., B. Braun Melsungen, AG, Medtronic, Johnson & Johnson Services, Inc., Abbott, and Zimmer Biomet.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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