Global Minimally Invasive Surgery Market Report and Forecast 2024-2032

Global Minimally Invasive Surgery Market Outlook

The global minimally invasive surgery market size was nearly USD 48.85 billion in 2023. The industry is further expected to grow at a CAGR of 7.8% in the forecast period of 2024-2032 to attain USD 96.04 billion by 2032.

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The global minimally invasive surgery market is being driven by the growing incidences of cardiovascular and other diseases coupled with the rising demand for surgical procedures that are less painful and allows for faster recovery. The hospital segment, among other end-use sectors, accounts for a significant share in the global industry. 

Region-wise, North America is one of the leading markets owing to the availability of advanced technology and enhanced healthcare infrastructure. On the other hand, the Asia Pacific is expected to witness a healthy growth in the future owing to the increased government expenditure for the development of healthcare facilities in the region coupled with the presence of increased population.

Properties and Applications

A minimally invasive surgery refers to the use of surgical techniques that reduce or limit the size and number of cuts during an operation by utilizing devices like small tools, cameras, and lights. This procedure is much safer in comparison to traditional open surgery owing to fewer complications, reduced recovery time, minimal blood loss, good results, and shorter hospital stays.

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On the basis of product type, the industry is divided into:

• Surgical Devices 
• Laparoscopy Devices
• Monitoring and Visualisation Devices 

On the basis of applications, the industry can be further segmented into:

• Bariatric Surgery
• Breast Surgery
• Cardiac Surgery
• Cosmetic Surgery
• Gastrointestinal Surgery
• Gynaecological Surgery
• Orthopaedics and Spine Surgery
• Thoracic Surgery
• Others

It finds end-use in sectors like:

• Hospitals
• Clinics
• Others

The report further covers and analyses the regional minimally invasive surgery markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Market Analysis

The global minimally invasive surgery market is being driven by the growing healthcare infrastructure, increasing demand for minimally invasive surgeries, and the rising health concern among consumers. As minimally invasive surgeries help in reducing post-operative pain and provides scope for fast recovery, numerous surgeons are adopting these procedures and are performing minimally invasive surgeries in their own clinics. Thus, the growing number of physician-owned ambulatory surgical centres (ASCs) are significantly contributing to the market growth. The rising geriatric population across the globe, coupled with the growing prevalence of arthritis, cancer, and cardiovascular diseases, is leading to a rise in demand for these surgeries as they are associated with fewer risks and minimal procedural trauma. The rising disposable incomes, particularly in emerging regions, will also aid the industry further.

The rapid advancement in technology is significantly contributing to the industry growth. The surgical procedures are now being carried out with the help of robotics technology, thus providing precision and control over surgery. This has resulted in faster completion and a rise in the success rates of these procedures, which, in turn, is boosting the industry growth.

The increased expenditure by the governments to improve healthcare infrastructure and growing research and development activities are aiding the market growth. Moreover, to satisfy the growing consumer demand for improved surgical procedures, the leading players in the minimally invasive surgery industry are focusing on innovating and launching new products. The development of the latest technologies, such as narrow-band imaging endoscopes and HD cameras by manufacturers, is expected to have a positive effect on the industry growth over the forecast period.  

Competitive Landscape

The report gives a detailed analysis of the following key players in the global minimally invasive surgery market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Zimmer Biomet
• Medtronic 
• Stryker 
• Arthrex, Inc. 
• B. Braun Melsungen AG
• Cook Group
• Eximis Surgical, LLC.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report