Minimally Invasive Surgery Global Market Report 2024

Minimally invasive surgery involves conducting surgical procedures on the body with reduced damage compared to open surgery. Surgeons employ small tools, cameras, and lights that can fit through small incisions in the skin during these procedures. The primary objectives of minimally invasive surgery are to minimize postoperative pain and blood loss, hasten recovery, and diminish scarring.

The essential devices used in minimally invasive surgery include handheld instruments, inflation devices, cutter instruments, guiding devices, electrosurgical devices, auxiliary devices, and monitoring and visualization devices. Handheld instruments play a crucial role in enhancing dexterity, precision, and ergonomics during the procedure. This category encompasses any portable instrument small enough to be held in one's hand. Minimally invasive surgery products include surgical devices, laparoscopy devices, and monitoring and visualization devices applied across various medical fields such as cardiac, gastrointestinal, orthopedic, vascular, gynecological, urological, cosmetic, and dental. These products find application in hospitals, specialty clinics, and ambulatory surgery centers.

The minimally invasive surgery market research report is one of a series of new reports that provides minimally invasive surgery market statistics, including minimally invasive surgery industry global market size, regional shares, competitors with a minimally invasive surgery market share, detailed minimally invasive surgery market segments, market trends and opportunities, and any further data you may need to thrive in the minimally invasive surgery industry. This minimally invasive surgery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The minimally invasive surgery market size has grown strongly in recent years. It will grow from $57.7 billion in 2023 to $63.41 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The increase during the historical period can be ascribed to factors such as heightened patient awareness, decreased hospital stays, diminished infection risks, the proficiency and training of surgeons, and the prevalence of chronic diseases.

The minimally invasive surgery market size is expected to see strong growth in the next few years. It will grow to $90.72 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The projected growth in the forecast period is linked to factors like government initiatives, an aging population, the implementation of remote surgery, reduced infection risks, and the emphasis on patient-centric care. Significant trends anticipated during this period encompass the adoption of virtual reality (VR) training, the integration of artificial intelligence (AI) in surgery, advancements in nanotechnology, the utilization of 3D printing, and increased attention to data security.

The increasing prevalence of chronic diseases is expected to drive demand for the minimally invasive surgery market. Chronic diseases are persistent illnesses often incurable but sometimes manageable. Lifestyle changes, poor dietary habits, and weight mismanagement contribute to chronic conditions, with prolonged infections increasing the risk of cancer. The growing incidence of these diseases necessitates minimally invasive surgery for patients, offering benefits such as reduced post-operative pain, fewer complications, shorter hospital stays, faster recovery, less scarring, and lower stress on the immune system. For instance, a January 2023 report from the National Library of Medicine projects a 99.5% increase in individuals aged 50 and older with one or more chronic illnesses by 2050 in the United States, reaching 142.66 million, up from 71.522 million in 2020. Consequently, the rising prevalence of chronic diseases is propelling the growth of the minimally invasive surgery market.

The increasing prevalence of cardiovascular diseases is expected to contribute to the growth of the minimally invasive surgery market. Cardiovascular diseases (CVD) encompass conditions affecting the heart or blood vessels, often associated with atherosclerosis and an elevated risk of blood clots. Minimally invasive surgeries are utilized in cardiovascular disease treatment to lower the risk of complications, reduce blood loss, minimize infection risk, and improve visualization. According to a January 2023 report from the American Heart Association, CVD accounted for approximately 19.1 million deaths worldwide in 2020. The rising incidence of cardiovascular diseases globally is anticipated to drive the growth of the minimally invasive surgery market.

Technological advancements are a notable trend gaining momentum in the minimally invasive surgery market. The increasing demand for specialized medical care and improved treatment quality, driven by advancements in science and technology and rising living standards, has led to the widespread use of minimally invasive surgery techniques. Major companies in the market are focused on developing innovative technological solutions, including advancements in optics, instrumentation, materials, robotics, and computer systems. For example, in March 2021, Ethicon, a part of Johnson & Johnson Medical Devices Companies, launched the ECHELON+ stapler with GST reloads, featuring gripping surface technology (GST) reloads and a new motor with dynamic firing to optimize speed in thick tissue. This technological evolution enhances the precision of surgical procedures.

Major companies in the minimally invasive surgery market are innovating products like H-SteriScope Single-Use Bronchoscopes to meet the growing demand for minimally invasive surgery. These bronchoscopes, designed for tissue biopsy, foreign body retrieval, and advanced procedures, aim to enhance clinicians' ability to target, diagnose, and treat patients while streamlining workflow and productivity. For instance, in April 2021, Olympus Corporation collaborated with Veran Medical Technologies Inc. to launch H-SteriScope Single-Use Bronchoscopes, addressing the unique demands of specific procedures and optimizing urgent procedure preparation.

In October 2021, Hologic, Inc., a medical technology company based in the U.S., acquired Bolder Surgical for $160 million. This strategic acquisition expands Hologic's surgical portfolio by incorporating Bolder's advanced energy vessel sealing and dissection tools used in laparoscopic procedures. Bolder Surgical, a U.S.-based provider of surgical devices, enhances Hologic's capabilities in the minimally invasive surgery domain.

Major companies operating in the minimally invasive surgery market include Arthrex Inc., B. Braun Melsungen AG, Intuitive Surgical Inc., Medtronic Inc., OmniGuide Inc., Olympus Corporation, GE Healthcare, Siemens Healthineers, Smith & Nephew, Johnson & Johnson Ltd., Stryker Corporation, Boston Scientific Corporation, Abbott Laboratories, Koninklijke Philips N.V., Applied Medical Resources Corporation, KLS Martin Group, Scanlan International Inc., Wexler Surgical, STRAUSS SURGICAL, AMNOTEC International Medical GmbH, EndoMed Systems GmbH, TROKAMED GmbH, Surgical Holdings Ltd., Ethicon Inc., DePuy Synthes, NuVasive Inc., Zimmer Biomet Holdings Inc., Renishaw PLC, CONMED Corporation, Bedfordshire Hospitals NHS Foundation Trust, Circle Health Ltd., Manipal Health Enterprises Pvt. Ltd., Singapore General Hospital Ltd., The General Hospital Corporation, Karl Storz SE & Co. KG, Becton Dickinson and Company, Applied Medical Resources Corporation, LiNA Medical, HOYA Corporation, Steris Corporation

North America was the largest region in the minimally invasive surgery market in 2023. The regions covered in the minimally invasive surgery market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the minimally invasive surgery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The minimally invasive surgery market includes revenues earned by entities by laparoscopic surgery, robotic surgery, endoscopic mucosal resection, endoscopic submucosal dissection, and transcatheter. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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