With rising geriatric population, presence of a large patient pool undergoing surgical treatments, growing awareness about modern surgical instruments and techniques, and implementation of various initiatives to reduce the rising healthcare expenditure in Asia-Pacific, the demand for minimally invasive surgical instruments in this region is expected to grow, which in turn will compel the key players to expand their geographical presence in this region.
The market is segmented on the basis of product, application, and end user. By product, the market includes handheld instruments, electrosurgical instruments, inflation systems, guiding devices, auxiliary instruments, and cutter instruments.
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According to the new market research report Minimally Invasive Surgical Instruments Market is projected to reach USD 21.47 Billion by 2021 from USD 13.89 Billion in 2016, at a CAGR of 9.1%. Asia-Pacific is expected to grow at the highest rate.
• By product, the market includes
handheld instruments, electrosurgical instruments, inflation systems,
guiding devices, auxiliary instruments, and cutter instruments. The
handheld instruments segment accounted for the largest share of the
minimally invasive surgical instruments market.
• The applications
included in this report are cardiothoracic surgery, cosmetic
surgery/bariatric surgery, gastrointestinal surgery, orthopedic surgery,
gynaecological surgery, vascular surgery, urological surgery, and
others. The others segment includes ENT/respiratory surgery,
neurological surgery, dental surgery, and pediatric surgery.
• End
users included in this report are government hospitals, private
hospitals and surgical clinics, and medical colleges. In 2015, the
private hospitals and surgical clinics segment accounted for the largest
share of the global minimally invasive surgical instruments market.
Geographical Overview –
The
geographic segments included in this report are North America, Europe,
Asia-Pacific, and the Rest of the World (RoW). North America is further
segmented into the U.S. and Canada. In 2015, North America accounted for
the largest share of the global minimally invasive surgical instruments
market primarily due to the rising number of surgical procedures,
growing government investments, growing geriatric population, and rising
prevalence of lifestyle diseases in this region. With the rising
geriatric population, presence of a large patient pool undergoing
surgical treatments, growing awareness about modern surgical instruments
and techniques, and implementation of various initiatives to reduce the
rising healthcare expenditure in Asia-Pacific, the demand for minimally
invasive surgical instruments in this region is expected to grow, which
in turn will compel the key players to expand their geographical
presence in this region.
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Leading Market Players –
Major
players in the global minimally invasive surgical instruments market
are Medtronic plc (Ireland), Ethicon, Inc. (U.S.), Aesculap, Inc.
(Germany), Stryker Corporation (U.S.), and Smith & Nephew (U.K.).
These players have a strong presence in major as well as emerging
markets. Other players in this market are ConMed Corporation (U.S.),
Abbott Laboratories (U.S.), Applied Biomedical Resources Corporation
(U.S.), Microline Surgical (Japan), and Zimmer Biomet (U.S.).