Minimally
invasive surgical instruments are used in minimally invasive
surgeries (MIS). These surgeries are performed to limit the size and
number of cuts and incisions to lessen the wound healing time. These
surgeries, reduce hospital stay with less pain and few complications.
Minimally invasive surgeries are preferred by majority of people due
to its benefits. Different type of instruments are used in minimally
invasive such as small tubes, compact cameras, catheters, and others.
Minimally invasive surgeries are widely conducted in cosmetology, as
it involves minimum scarring and quick healing. Another type of
minimally invasive surgery is robotic surgery. It provides a
magnified, 3-D view of the surgical site and helps the surgeon to
operate with precision, flexibility, and control.
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The
global minimally invasive surgical instruments market size was valued
at US$
12,878.3 million
in 2017, and is expected to witness a CAGR of 6.1%
over the forecast period (2018 – 2026).
Increasing
numbers of minimally invasive surgeries is expected to drive growth
of the minimally invasive surgical instrument market
Increasing
number of minimally invasive surgeries is major driving factor for
growth of the minimally invasive surgical instruments market revenue,
as minimally invasive surgeries are less painful, cost effective, and
reduces hospital stay. According to Healthcare Cost and Utilization
Project (HCUP) in 2014, around 11.4 million outpatient surgeries were
performed in the U.S. Most performed minimally invasive surgeries are
cholecystectomy, colectomy, heart surgery, kidney surgery, etc.
Market
Dynamics
Minimally
invasive surgical instrument market size is expected to witness
significant growth owing to increasing number of diseases, which can
be treated with minimally invasive surgeries such as cancer and heart
diseases. Minimally invasive surgical
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instruments
are widely used for removal of cancerous tumors from brain, stomach,
kidney, ovary, prostate, pancreas, etc. According to the National
Cancer Institute (NCI) in 2016, there were an estimated 16.8 million
people suffering cancer in the U.S., and around 595,690 deaths
occurred from the disease. Moreover, the number of people suffering
from cancer is expected to reach to 19 million by 2024.
Minimally
Invasive Surgical Instrument Market - Competitive Landscape
Key
players operating in the global minimally invasive surgical
instrument market include Medtronic Plc, Ethicon Inc., Aesculap Inc.,
Stryker Corporation, B. Braun Melsungen Ag and Smith & Nephew
Plc. Other players in this market include ConMed Corporation, Abbott
Laboratories, Applied Biomedical Resources Corporation, Boston
Scientific Corporation, Microline Surgical, Alcon Laboratories Inc.,
and Zimmer Biomet Holdings Inc.
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