Market for Surgical Instruments for Minimally Invasive Surgery

Minimally invasive surgery (MIS) is becoming increasing popular for all types of surgical procedures. The procedure involves making small incisions in the skin that are used to insert an endoscope and special surgical instruments instead of making a large incision. Recovery times are often quicker and patients experience less discomfort than they would after conventional surgery.

As the techniques and procedures improve, MIS is being found to be safe, effective, and preferred for many different types of surgeries. The expansion of these procedures results in advances in the instruments required to accurately perform these tasks. It is the global acceptance of MIS as a viable and preferred surgical option that greatly expands the market for the specialized surgical instruments required.

A new report [1] expects the minimally invasive surgical instruments market to increase at a CAGR of 6.1% over the next 5 years. In 2014, the market was $10,562.2 million and is expected to grow to $14,133.0 million by 2019.

Market segments for MIS surgical instruments are based on products, applications, and regions. The fastest growing type of surgical instrument products are expected to be for orthopedic and cosmetic/bariatric surgery. Aging populations suffering from osteoporosis, arthritis, and spine injuries are requiring more surgical intervention and rising awareness of obesity and health concerns are leading to a rise in weight loss surgeries.

Manufacturers in North America, such as Medtronic, are the most dominant in the industry today, followed by those in Europe. The fastest growing market is expected to be the Asia-Pacific region. Increased awareness of MIS procedures and a rising middle class are fueling the rise in these procedures in regions including China, Japan, and India.

Researchers from Johns Hopkins Medicine conducted a study [2] and found that MIS is “grossly underutilized” and if hospitals in the U.S. increased use of MIS by 50%, over 3,500 post-op complications could be avoided and $288 million would be cut from health care costs.

Advancements and innovations in healthcare and surgical procedures will continue to grow the market for the tools required to fulfill the needs of the doctors and surgeons. Expanding product portfolios for surgical instruments will improve MIS developments and strategies.

References

[1] Minimally Invasive Surgical Instruments Market by Product, Application – Global Forecast to 2019, http://www.researchandmarkets.com/research/7kbzbb/minimally

[2] Increasing use of minimally invasive surgery ‘would avert thousands of post-op complications’, http://www.medicalnewstoday.com/articles/291405.php