The global minimally invasive surgical systems market is projected to reach $55,716.7 million by 2031, reveals the premium market intelligence study by CRI Report. The study also highlights that the market is set to witness a CAGR of 6.3% between 2021 and 2031.
CRI Report study indicates that the global minimally invasive surgical systems market has witnessed significant growth in the past ten years, owing to the adoption of surgical robotic platforms. Furthermore, advancement in surgical techniques and surgical technologies, rising incidence of chronic disease, and the increase in the global geriatric population are some of the prominent factors expected to propel the growth of the minimally invasive surgical systems market in the upcoming years.
Global Surgical Robotics Market: Focus on Vendor Analysis, Key Enabling Technologies, Emerging Platforms in Pipeline, 26 Company Profiles, and 45 Countries Data & Cross Segmentation – Analysis and Forecast, 2021-2031
To emphasize the impact of COVID-19 on the global minimally invasive surgical systems market, Aditya Singh, Senior Research Analyst – CRI Report, states, “The COVID-19 pandemic had a huge impact on elective surgical procedures in the first half of 2020. The COVID-19 pandemic has drastically impacted the daily hospital routine services on the global level. During the initial phase of the pandemic, hospitals greatly reduced or canceled conducting elective surgical procedures for patient safety and to prioritize the care treatments for patients with COVID‐19. The reduction in the volume of elective surgical procedures on a large scale had a substantial impact on patients as well as a financial impact on the medical device manufacturers. This resulted in the decreased sales of the minimally invasive surgical systems.”
Key companies operating in the market
Leading companies, market participants, and vendors operating in the market, include, Arthrex Inc., Asensus Surgical Inc. (formerly TransEnterix Inc.), Boston Scientific Corporation, Conmed Corporation, Fujifilm Holdings Corporation, Intuitive Surgical Inc., Karl Storz SE & Co. KG, Medtronic plc, Olympus Corporation, Hoya Corporation (Pentax Medical), Siemens Healthineers AG, Smith & Nephew plc, Sony Corporation, Stryker Corporation, and Zimmer Biomed Holdings Inc.
Who should buy this report?
• Surgical Instruments and Accessories (both Conventional MISS and Surgical Robotics) OEMs to gain a holistic view about the market potential of various systems and the developing economies for business expansions.
• Surgical Robotics Manufacturers
• Established healthcare companies that are integrating software, machine learning, and AI into the surgical robotic platform
• Endoscopes, Endoscopic Systems, Capsule Endoscopy Manufacturers
• Established medical technology companies to gain insights about the market potential, market entry strategies, new technologies in the market, and key competitors.
• Medical Research Institutions
• Healthcare Facilities
• Specialty Clinics
Patient Monitoring Devices Market By Type (Hemodynamic Monitoring, Neuromonitoring, Cardiac Monitoring, Fetal & Neonatal Monitoring, Respiratory Monitoring, Multi-Parameter Monitoring, Remote Patient Monitoring, Weigh Monitoring, And Temperature Monitoring Devices); By End User (Hospitals & Clinics, Home Settings, and Ambulatory Surgical Centers); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030
How can market intelligence on minimally invasive surgical systems market add value to your business’s decision-making process?
• Aid in product development.
• Aid in understanding the regulatory scenario of the market in different regions.
• Help in targeting a segment for launching a new product.
• Aid in understanding market potential of different technologies.
• Aid in understanding the end-user.
• Support in analyzing the market opportunities.
• Insights on the key companies in the market.
Scope of the Global Minimally Invasive Surgical Systems Market Report:
• Global trend
• COVID-19 impact analysis
• Available products, and end user segments and respective sub-divisions influencing the market
• Study of more than 800 products present in the market.
• Detailed competitive landscape
• Detailed market share analysis
• Study data of over 25 countries
• Future perspective of the market
• Growth factors
• Market challenges / restraints
• Detailed market segmentation
The market intelligence report on global minimally invasive surgical systems market also highlights that the consumer preference for surgical robotics has been increasing, mainly due to advances and the benefits provided the surgical robotic systems. Surgical robotic systems have witnessed higher adoption rate for the orthopedic surgeries.
• By Product Type: Conventional Technologies and surgical robotic systems are the products covered under minimally invasive surgical systems market on the basis of product type. The surgical robotic segment is expected to grow at the highest CAGR during the forecast period 2021-2031. Revenue generated by the conventional technology segment accounted for approximately 80.4% of the overall market revenue in 2020.
• Application: Different type of surgeries being performed are covered under minimally invasive surgeries on the basis of application. The orthopedic surgery segment is expected to grow at the highest CAGR during the forecast period 2021-2031. Revenue generated by the general surgery segment accounted for approximately 42.5% of the overall market revenue in 2020.
• End-Users: Hospitals, ambulatory surgical systems (ASCs), and specialty clinics are the end-users. The hospitals segment held the maximum share in the global minimally invasive surgical systems market in 2020.
• Regions: North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Revenues generated by the U.S. accounted for 37.1% of the global minimally invasive surgical systems market revenue in 2020, which was the largest market share in terms of revenue compared to other countries for 2020. The U.S. is expected to remain in the leading position during the forecast period 2021-2031. The U.S. was followed by Japan, China, and Germany.
Global Minimally Invasive Surgical Systems Market: Focus on Product Type, Application, End Users, 25 Countries’ Data, Patent Scenario, and Competitive Landscape – Analysis and Forecast, 2021-2031
Key Questions Answered:
• What are the key regulations governing the minimally invasive surgical systems market, across the globe?
• What are the key technological developments on which the current industry leaders are spending their major share of research and development (R&D) investment?
• How is the role of minimally invasive surgery technologies expected to evolve in the future?
• Who are the leading players who hold significant dominance on the global minimally invasive surgical systems market, currently?
• How likely are current business models to persist in the future?
• What are the key market drivers, challenges, growth opportunities, and trends?
• How do minimally invasive procedures function as compared to each other?
• How is the expiration of patents likely to disrupt the market dynamics?
• What are the key strategies incorporated by the leading players in the minimally invasive surgical systems landscape?
• What is the likelihood of new players entering the market in near term?
• What is the current revenue contribution for different endoscopes and endoscopy systems, and what are the expected modifications in the forecast period?
• What is the current revenue contribution for the different types of conventional minimally invasive surgical systems, and what are expected modifications in the same forecast period?
• What is the current revenue contribution for the different types of surgical robotic systems, and what are the expected modifications in the same forecast period?
• Which countries contribute to the major share of current demand and which countries hold significant scope for business expansion activities, by the key players?