Minimally Invasive Surgery Market

The size of global minimally invasive surgery market in terms of revenue was estimated to be worth $79.3 billion in 2024 and is poised to reach $173.9 billion by 2029, growing at a CAGR of 17.0% from 2024 to 2029. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market.

An increase in chronic disorders and the aging population, increasing research & funding initiatives from organizations, and worldwide advancement in surgical procedures are a few drivers that collectively contribute to the growth of the minimally invasive surgery market, and as healthcare technologies continue to evolve, the demand for minimally invasive surgical procedure is expected to rise further in the upcoming years. However, challenges for high cost, regulatory issues can limits the market growth.

Attractive Opportunities in the Minimally Invasive Surgery Market

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Minimally Invasive Surgery Market: Market Dynamics

Driver: Increase adoption of MIS over open surgeries

Laparoscopic procedures are less invasive and save costs in terms of pre- and post-operation care and the length of stay in hospitals. These surgeries result in less blood loss, fewer postoperative complications, and a shorter recovery time for patients. In addition, minimally invasive surgeries are increasingly being covered by health insurance providers in select countries. Physicians prefer minimally invasive surgeries over traditional open surgeries as they consider it to be a cost-saving opportunity for hospitals.

Restraint: High cost of Robotic systems

Robot-assisted surgeries are much more expensive than minimally invasive surgeries. This often results in deferred or altogether avoided treatments. The high cost of robotic surgery is further increased by the fact that the annual maintenance cost of robots is around USD 125,000. Hospital budget cuts were similar throughout European countries, and more cuts are anticipated in the upcoming years. Budget cuts have made cost-containment measures necessary in many areas of hospital operations.

Opportunity: Emerging markets- growth opportunities

Emerging markets are evolving into growth areas for the minimally invasive surgery. A myriad of factors contribute to the growth opportunities within these markets, attributed to their low regulatory barriers, improvements in healthcare infrastructure, growing patient population, and rising healthcare expenditure, escalating disposable incomes, and a burgeoning aging demographic. Asia Pacific region are more adaptive and business-friendly than those in developed countries. This, along with the increasing competition in mature markets, has drawn top players in the minimally invasive surgery market to focus on emerging countries.

Challenge: High degree of market consolidaton

The minimally invasive surgery market is highly consolidated. Only key companies are able to afford high capital invaestments as well as the high cost of research & development and manufacturing. It will prevent new entrant to enter the minimally invasive surgery market. Top player salso enjoys the high degree of brand loyalty. Whereas new entrant have to compete with existing key players to offer and set themselves by developing innovative product offerings.

Minimally Invasive Surgery Industry Ecosystem

Major companies in this market include well-established and financially stable suppliers of minimally invasive surgery. Prominent companies in this market include Medtronic plc (Ireland), Johnson & Johnson (US), Stryker corporation (US), NuVasive (US), Abbott Laboratories (US), Zimmer Biomet holdings (Warsaw), Boston Scientific Corporation (US), GE Healthcare (US) among several others.

Surgical devices segment to register largest market share of minimally invasive surgery industry in the year 2023.

Based on the product, the minimally invasive surgery market is segmented into Surgical Devices, Imaging & Visualization Systems, Endoscopy Devices, Electrosurgical Devices, and Medical Robotics. Surgical Devices segment to register largest market share in the forecast period of 2023-2029. The surgical devices further divided into Handheld instruments, laparoscopy devices, guiding devices and inflation system. Key drivers fostering the expansion of minimally invasive surgery (MIS) via surgical devices encompass ongoing technological advancements, which continuously elevate the precision, adaptability, and safety of these instruments. Furthermore, the market's growth is further bolstered by the introduction of advance surgical technologies by key industry players.

Nerological Surgery segment is the highest market rate application segment of minimally invasive surgery industry in the forecasted year 2024-2029.

The Neurological surgery application segment register highest market rate in the forecasted year 2024-2029 . Key factors propelling the adoption of minimally invasive surgery (MIS) in neurological procedures include advancements in technology, particularly in imaging modalities and surgical instrumentation, which enable more precise and minimally invasive interventions. Additionally, the imperative to minimize patient morbidity, lower post-operative complications, and accelerate recovery periods serves as a significant impetus for the adoption of MIS in neurological surgery. Furthermore, evolving healthcare paradigms prioritizing value-based care and patient-centric outcomes further propel the integration of MIS in neurological surgery.

Asia-Pacific is expected to be the highest CAGR of minimally invasive surgery industry during the forecast period.

The minimally invasive surgery market is divided into key regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2023, North America held the largest market share in the global minimally invasive surgery market. However, the Asia Pacific region is anticipated to exhibit the highest CAGR during the forecast period. This growth is primarily attributed to the a rise in healthcare budgets, demographic shift with a rapidly aging population,and investing in healthcare infrastructure. Patients increasingly seek minimally invasive alternatives to traditional surgery due to the perceived benefits, such as shorter hospital stays, reduced pain, and quicker recovery. As patient awareness and demand for MIS options rise, healthcare providers are more likely to offer and promote these procedures. This includes advancements in surgical techniques and the adoption of advanced minimally invasive surgery. Additionally, the market in the Asia Pacific region is set to receive a boost from the growing number of local manufacturers offering minimally invasive surgery products.

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As of 2023, prominent players in the market are Medtronic plc (Ireland), Johnson & Johnson Medtech (US), Stryker corporation (US), NuVasive (US), GE Healthcare (US), Zimmer Biomet holdings (Warsaw), Becton, Dickinson & Company. (US), Boston Scientific Corporation (US), Abbott Laboratories (US) among several others.

Scope of the Minimally Invasive Surgery Industry:

This report has segmented the Minimally invasive surgery market to forecast revenue and analyze trends in each of the following submarkets:

By Product

• SURGICAL DEVICES
  • HANDHELD INSTRUMENTS
    • Tubular Retractor
    • Dilator
    • Suturing Instruments
      • Probes
      • Laser fiber devices
  • GUIDING DEVICES
    • Guiding catheters
    • Guidewires
  • INFLATION SYSTEMS
    • Balloon Catheters
    • Balloon inflation system
  • LAPAROSCOPY DEVICES
    • Laparoscope
    • Trocar and Cannula
    • RASP (Robotic- Assisted Simple Prostatectomy)
    • Graspers and Dissectors
• IMAGING & VISUALIZATION SYSTEMS
  • Ultrasound
  • CT imaging
  • MRI imaging
  • X-Ray imaging
  • Visualization systems
• ELECTROSURGICAL DEVICES
  • Electrosurgical generators & accessories
  • Electrocautery devices
• ENDOSCOPY DEVICES
  • Rigid endoscopes
  • Flexible endoscopes
  • Diagnostic endoscopes
• MEDICAL ROBOTICS
  • Robotic Systems
  • Robotic Instruments
  • Robotic softwares & Services

By Application

• Cardio-Thoracic Surgery
• Vascular Surgery
• Neurological Surgery
• Ent & Respiratory Surgery
• Cosmetic Surgery
• Gastrointestinal & Abdominal Surgery
• Gynecological Surgery
• Urological Surgery
• Orthopedic Surgery
• Oncology Surgery
• Dental Surgery
• Others

By End User

• Hospitals, Clinics & Ablation centers
• Ambulatory Surgical Centers
• Orthopedic, Emergency & Trauma Centers
• Others

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
• MEA

Recent Market 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.

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