North America Minimally Invasive Surgical Devices Market to Grow with a CAGR of 6.10% through 2028
Increasing Prevalence of Chronic Diseases and increase
in the aging population is expected to drive the North America Minimally
Invasive Surgical Devices Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “North
America Minimally Invasive Surgical Devices Market –Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the North
America Minimally Invasive Surgical Devices Market stood at USD 8.35 billion in
2022 and is anticipated to grow with a CAGR of 6.10% in the forecast period,
2024-2028. The awareness among individuals regarding Minimally Invasive
Surgical Devices has led to favorable market conditions for the North America Minimally
Invasive Surgical Devices market. Several factors contribute to the growth of
various Minimally Invasive Surgical Devices products.
The heightened incidence of chronic illnesses like
cardiovascular diseases, obesity, and diabetes has driven a surge in the need
for minimally invasive surgical procedures. Patients afflicted with chronic
conditions frequently necessitate surgical treatments and, given the advantages
of diminished pain, swifter recuperation, and shorter hospitalization
durations, they gravitate toward less invasive alternatives. Consequently,
minimally invasive surgical devices are witnessing increased utilization in addressing
diverse chronic diseases, thus bolstering market expansion. A case in point
includes the growing prevalence of minimally invasive cardiac interventions and
laparoscopic bariatric surgeries.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "North
America Minimally Invasive Surgical Devices Market.”
The containment of healthcare expenses plays a pivotal
role in driving the adoption of minimally invasive surgical devices. In
contrast to traditional open surgeries, minimally invasive procedures are often
associated with lower healthcare costs. This stems from their tendency to
necessitate shorter hospitalization periods, decreased post-operative care, and
reduced resource utilization. In light of the growing emphasis on
cost-effective healthcare solutions by healthcare providers and payers,
minimally invasive surgery aligns seamlessly with these objectives.
Consequently, hospitals and healthcare systems are motivated to invest in
minimally invasive surgical technologies and devices to curtail overall
healthcare spending, which will further fuel market growth.
In June 2023, Medtronic announced that it had launched
its new MiniMed 780G System in the United States. The MiniMed 780G System is a
hybrid closed-loop insulin pump system that automatically delivers insulin
based on blood sugar levels. It is the first hybrid closed-loop system to be
approved by the FDA for people with type 1 diabetes of all ages.
Technological advancements, exemplified by
robotic-assisted surgical systems and 3D imaging, have empowered surgeons to
conduct intricate procedures with heightened precision and minimal
invasiveness. These innovations have not only improved patient outcomes but
also decreased the reliance on conventional open surgeries.
In today's fast-paced world, Minimally invasive
surgeries often require shorter hospitalization periods, allowing patients to
get back to their routines promptly. This is especially valuable in a
fast-paced society where prolonged hospital stays can be both financially and
logistically burdensome. Minimally invasive techniques often involve smaller
incisions and reduced trauma to surrounding tissues. This results in less
post-operative pain and discomfort, enabling individuals to resume their
regular activities sooner. In a world where productivity is highly valued,
minimally invasive procedures help minimize disruptions to work and personal
life. Patients can undergo necessary surgical interventions with less
interruption to their daily routines.
Minimally invasive surgical devices are well-suited
for the elderly population as they minimize trauma, reduce recovery times, and
lower the risk of complications. As the aging population continues to grow, the
demand for these devices is expected to increase.
In recent times, Minimally invasive procedures involve
smaller incisions and less manipulation of surrounding tissues compared to
traditional open surgeries. This results in reduced patient trauma, less
post-operative pain, and a quicker return to normal activities. Minimally
invasive surgeries typically require shorter hospitalization periods. Patients
can often go home sooner, freeing up hospital resources and reducing the risk
of hospital-acquired infections. In an era where time is precious, minimally
invasive techniques offer faster recovery times. Patients can get back to work
and their daily routines more quickly, minimizing disruptions to their lives. Minimally
invasive procedures often utilize advanced imaging technologies, such as
laparoscopic cameras and 3D visualization systems. These tools provide surgeons
with a detailed view of the surgical site, enhancing precision and
decision-making. However, the Regulatory Compliance and Approval Processes may
hinder market growth. Moreover, challenges related to Cost Barriers and
Reimbursement and Training and Skill Acquisition may pose obstacles to the Minimally
Invasive Surgical Devices market in the near future.
The North America Minimally Invasive Surgical Devices
Market is segmented into type, surgery type, end-user, regional distribution,
and company.
Based on its type, the Handheld instruments encompass
a wide range of tools used in minimally invasive surgeries, such as
laparoscopic, endoscopic, and robotic-assisted procedures. These instruments
are versatile and can be employed across various surgical specialties, including
general surgery, gynecology, urology, and orthopedics. Surgeons rely on
handheld instruments like graspers, scissors, dissectors, and needle holders to
perform precise and delicate tasks during minimally invasive surgeries. The
broad spectrum of applications across different procedures contributes to the
dominance of this segment. Handheld instruments have been instrumental in
traditional laparoscopic surgeries, which have a long history of successful
implementation in North America. Surgeons are well-trained in using these
instruments for minimally invasive abdominal and pelvic procedures.
Laparoscopic procedures are routinely performed for various conditions, such as
appendectomies, cholecystectomies (gallbladder removal), and hernia repairs.
Handheld instruments are essential tools in these surgeries, contributing to
their widespread adoption.
Based on region, United States segment is expected to
grow during the forecast period. The United States is the dominant
force in the North America Minimally Invasive Surgical Devices Market. The U.S.
healthcare market is the largest in North America, and it accounts for a
significant portion of global healthcare spending. This substantial market size
naturally makes it the primary driver of the Minimally Invasive Surgical
Devices Market in the region. The U.S. boasts some of the most advanced
healthcare infrastructure and technology globally. Its hospitals, clinics, and
healthcare institutions are well-equipped to offer a wide range of minimally
invasive surgical procedures, attracting patients from within and outside the
country. U.S. is a hub for medical research and innovation, fostering the
development of cutting-edge minimally invasive surgical devices and techniques.
Leading medical device companies and research institutions are located in the
United States.
The Canada market is poised to be the fastest-growing
market, offering lucrative growth opportunities for Minimally Invasive Surgical
Devices players during the forecast period. Factors such as Canada has been
steadily adopting minimally invasive surgical techniques and devices, following
the trends set by the United States. Surgeons and healthcare institutions in
Canada are increasingly recognizing the benefits of minimally invasive
procedures. Canada has been making substantial investments in its healthcare
system, including the acquisition of advanced medical technologies and the
expansion of healthcare infrastructure. This investment is likely to drive the
adoption of minimally invasive surgical devices. Like the United States, Canada
has an aging population, which often requires surgical interventions for
age-related conditions. The demand for minimally invasive procedures among
older adults is expected to grow. Canadian patients and healthcare providers
have access to innovative minimally invasive surgical devices and technologies,
allowing them to benefit from the latest advancements in the field.
Major companies operating in North America Minimally
Invasive Surgical Devices Market are:
- Medtronic, Inc.
- Stryker Corporation
- B. Braun Medical Inc.
- Olympus Corporation of the Americas
- Boston Scientific Corporation
- Zimmer Biomet Inc.
- Johnson & Johnson
- Karl Storz Endoscopy-America, Inc.
- Abbott Laboratories
- Philips North America Corporation
Download
Free Sample Report
Customers can also request for 10%
free customization on this report.
“The Advancements in Technology and Innovation and
increasing Prevalence of Chronic Diseases are key drivers of the Minimally
Invasive Surgical Devices market. In recent years, the growing demographic
shift towards an aging population is a significant driver. As individuals age,
they are more likely to develop age-related health conditions that require
surgical interventions. Moreover, the growing consumer emphasis on preventative
healthcare products has enhanced production and marketing efforts. To meet the
demands of the market, manufacturers are increasingly incorporating
cutting-edge technologies with high production efficiency. Rising consumer
acceptance and continuous product innovation will further ensure the growth of
the Minimally Invasive Surgical Devices and supplements market in the coming
years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“North America Minimally Invasive Surgical Devices
Market Segmented By Type (Handheld Instruments, Surgical Scopes, Cutting
Instruments, Guiding Devices, Electrosurgical Devices, Others), By Surgery Type
(Cardiovascular, Gastrointestinal, Gynecology, Urology, Others), By End-User
(Hospitals & Clinics, Ambulatory Surgical Centers, Others), By Country,
Competition, Forecast, Opportunities, 2018-2028F”, has evaluated
the future growth potential of North America Minimally Invasive Surgical
Devices Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in North America Minimally
Invasive Surgical Devices Market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: www.techsciresearch.com