Minimally Invasive Surgery Market Size by Product (Robotics, Imaging, Instrument (Handheld, inflation, Guiding, Electrosurgery, Endoscopy)), Application (CVD, Thoracic, Neuro, ENT, OB/GYN, Orthopedic), End User & Region - Global Forecast to 2029
The global size of minimally invasive surgery market in terms of revenue was estimated to be worth $34.0 billion in 2024 and is poised to reach $74.6 billion by 2029, growing at a CAGR of 17.0% from 2024 to 2029. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market.
An increase in chronic disorders and the aging population, increasing research & funding initiatives from organizations, and worldwide advancement in surgical procedures are a few drivers that collectively contribute to the growth of the minimally invasive surgery market, and as healthcare technologies continue to evolve, the demand for minimally invasive surgical procedure is expected to rise further in the upcoming years. However, challenges for high cost, regulatory issues can limits the market growth.
Attractive Opportunities in the Minimally Invasive Surgery Market
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Minimally Invasive Surgery Market: Market Dynamics
Driver: Increase adoption of MIS over open surgeries
Laparoscopic procedures are less invasive and save costs in terms of pre- and post-operation care and the length of stay in hospitals. These surgeries result in less blood loss, fewer postoperative complications, and a shorter recovery time for patients. In addition, minimally invasive surgeries are increasingly being covered by health insurance providers in select countries. Physicians prefer minimally invasive surgeries over traditional open surgeries as they consider it to be a cost-saving opportunity for hospitals.
Restraint: High cost of Robotic systems
Robot-assisted surgeries are much more expensive than minimally invasive surgeries. This often results in deferred or altogether avoided treatments. The high cost of robotic surgery is further increased by the fact that the annual maintenance cost of robots is around USD 125,000. Hospital budget cuts were similar throughout European countries, and more cuts are anticipated in the upcoming years. Budget cuts have made cost-containment measures necessary in many areas of hospital operations.
Opportunity: Emerging markets- growth opportunities
Emerging markets are evolving into growth areas for the minimally invasive surgery. A myriad of factors contribute to the growth opportunities within these markets, attributed to their low regulatory barriers, improvements in healthcare infrastructure, growing patient population, and rising healthcare expenditure, escalating disposable incomes, and a burgeoning aging demographic. Asia Pacific region are more adaptive and business-friendly than those in developed countries. This, along with the increasing competition in mature markets, has drawn top players in the minimally invasive surgery market to focus on emerging countries.
Challenge: High degree of market consolidaton
The minimally invasive surgery market is highly consolidated. Only key companies are able to afford high capital invaestments as well as the high cost of research & development and manufacturing. It will prevent new entrant to enter the minimally invasive surgery market. Top player salso enjoys the high degree of brand loyalty. Whereas new entrant have to compete with existing key players to offer and set themselves by developing innovative product offerings.
Minimally Invasive Surgery Industry Ecosystem
Major companies in this market include well-established and financially stable suppliers of minimally invasive surgery. Prominent companies in this market include Medtronic plc (Ireland), Johnson & Johnson (US), Stryker corporation (US), NuVasive (US), Abbott Laboratories (US), Zimmer Biomet holdings (Warsaw), Boston Scientific Corporation (US), GE Healthcare (US) among several others.
Surgical devices segment to register largest market share of the minimally invasive surgery industry in the year 2023.
Based on the product, the minimally invasive surgery market is segmented into Surgical Devices, Imaging & Visualization Systems, Endoscopy Devices, Electrosurgical Devices, and Medical Robotics. Surgical Devices segment to register largest market share in the forecast period of 2023-2029. The surgical devices further divided into Handheld instruments, laparoscopy devices, guiding devices and inflation system. Key drivers fostering the expansion of minimally invasive surgery (MIS) via surgical devices encompass ongoing technological advancements, which continuously elevate the precision, adaptability, and safety of these instruments. Furthermore, the market's growth is further bolstered by the introduction of advance surgical technologies by key industry players.
Neurological Surgery segment is the highest market rate application segment in the minimally invasive surgery industry forecasted year 2023-2029.
The Neurological surgery application segment register highest market rate in the forecasted year 2023-2029 . Key factors propelling the adoption of minimally invasive surgery (MIS) in neurological procedures include advancements in technology, particularly in imaging modalities and surgical instrumentation, which enable more precise and minimally invasive interventions. Additionally, the imperative to minimize patient morbidity, lower post-operative complications, and accelerate recovery periods serves as a significant impetus for the adoption of MIS in neurological surgery. Furthermore, evolving healthcare paradigms prioritizing value-based care and patient-centric outcomes further propel the integration of MIS in neurological surgery.
Asia-Pacific is expected to be the highest CAGR of the minimally invasive surgery industry during the forecast period.
The minimally invasive surgery market is divided into key regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2023, North America held the largest market share in the global minimally invasive surgery market. However, the Asia Pacific region is anticipated to exhibit the highest CAGR during the forecast period. This growth is primarily attributed to the a rise in healthcare budgets, demographic shift with a rapidly aging population,and investing in healthcare infrastructure. Patients increasingly seek minimally invasive alternatives to traditional surgery due to the perceived benefits, such as shorter hospital stays, reduced pain, and quicker recovery. As patient awareness and demand for MIS options rise, healthcare providers are more likely to offer and promote these procedures. This includes advancements in surgical techniques and the adoption of advanced minimally invasive surgery. Additionally, the market in the Asia Pacific region is set to receive a boost from the growing number of local manufacturers offering minimally invasive surgery products.
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As of 2022, prominent players in the market are Medtronic plc (Ireland), Johnson & Johnson Medtech (US), Stryker corporation (US), NuVasive (US), GE Healthcare (US), Zimmer Biomet holdings (Warsaw), Becton, Dickinson & Company. (US), Boston Scientific Corporation (US), Abbott Laboratories (US) among several others.
Scope of the Minimally Invasive Surgery Industry
Report Metric |
Details |
Market Revenue in 2024 |
$34.0 billion |
Projected Revenue by 2029 |
$74.6 billion |
Revenue Rate |
Poised to Grow at a CAGR of 17.0% |
Market Driver |
Increase adoption of MIS over open surgeries |
Market Opportunity |
Emerging markets- growth opportunities |
This report has segmented the minimally invasive surgery market to forecast revenue and analyze trends in each of the following submarkets:
By Product (USD Million; 2021—2029) *
-
Surgical Devices
-
Handheld Instruments
- Tubular Retractor
- Dilator
-
Suturing Instruments
- Probes
- Laser fiber devices
-
Guiding Devices
- Guiding catheters
- Guidewires
-
Inflation Systems
- Balloon Catheters
- Balloon inflation system
-
Laparoscopy Devices
- Laparoscope
- Trocar and Cannula
- RASP (Robotic- Assisted Simple Prostatectomy)
- Graspers and Dissectors
-
Handheld Instruments
-
Imaging & Visualization Systems
- Ultrasound
- CT imaging
- MRI imaging
- X-Ray imaging
- Visualization systems
-
Electrosurgical Devices
- Electrosurgical generators & accessories
- Electrocautery devices
-
Endoscopy Devices
- Rigid endoscopes
- Flexible endoscopes
- Diagnostic endoscopes
-
Medical Robotics
- Robotic Systems
- Robotic Instruments
- Robotic softwares & Services
By Application (USD Million; 2021—2029) *
- Cardio-Thoracic Surgery
- Vascular Surgery
- Neurological Surgery
- Ent & Respiratory Surgery
- Cosmetic Surgery
- Gastrointestinal & Abdominal Surgery
- Gynecological Surgery
- Urological Surgery
- Orthopedic Surgery
- Oncology Surgery
- Dental Surgery
- Others
By End User (USD Million; 2021—2029) *
- Hospitals, Clinics & Ablation centers
- Ambulatory Surgical Centers
- Orthopedic, Emergency & Trauma Centers
- Others
By Region
-
North America
- US
- Canada
-
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
-
Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia Pacific
-
Latin America
- Brazil
- Mexico
- MEA
Recent Market Developments of Minimally Invasive Surgery Industry:
- In 2023, Medtronic receives CE Mark approval for Affera Mapping and Ablation System to treat atrial arrhythmias.
- In 2023, J&J MONARCH Platform is the first minimally invasive, robotic-assisted technology approved for bronchoscopy in China with significant burden of lung cancer.
- In 2023, Stryker’s Q Guidance System for cranial applications received US FDA clearance to support cranial surgeries.
Frequently Asked Questions (FAQ):
What is the projected market revenue value of the global minimally invasive surgery Market?
The global minimally invasive surgery market boasts a total revenue value of $74.6 billion by 2029.
What is the estimated growth rate (CAGR) of the global minimally invasive surgery Market?
The global minimally invasive surgery market has an estimated compound annual growth rate (CAGR) of 17.0% and a revenue size in the region of $34.0 billion in 2024. .
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This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.
Secondary Research
The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, company house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the minimally invasive surgery market. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.
Primary Research
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations in product therapy markets. The primary sources from the demand side include medical OEMs, Analytical instrument OEMs, CDMOs, and service providers, among others. Primary research was conducted to validate the market segmentation, identify key players in the market, and gather insights on key industry trends & key market dynamics.
A breakdown of the primary respondents is provided below:
*Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.
Note: Companies are classified into tiers based on their total revenue. As of 2021, Tier 1 = >USD 2 billion, Tier 2 = USD 50 million to USD 2 billion, and Tier 3 = <USD 50 million.
To know about the assumptions considered for the study, download the pdf brochure
Market Estimation Methodology
In this report, the minimally invasive surgery market size was determined using the revenue share analysis of leading players. For this purpose, key players in the market were identified, and their revenues from the minimally invasive surgery market business were determined through various insights gathered during the primary and secondary research phases. Secondary research included the study of the annual and financial reports of the top market players. In contrast, primary research included extensive interviews with key opinion leaders, such as CEOs, directors, and key marketing executives.
To calculate the global market value, segmental revenues were calculated based on the revenue mapping of major solution/service providers. This process involved the following steps:
- Generating a list of major global players operating in the minimally invasive surgery market.
- Mapping annual revenues generated by major global players from the minimally invasive surgery market(or nearest reported business unit/product category)
- Revenue mapping of key players to cover a major share of the global market, as of 2022
- Extrapolating the global value of the minimally invasive surgery market
Global Minimally Invasive Surgery Market: Bottom-Up Approach
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Global Minimally Invasive Surgery: Top-Down Approach
Data Triangulation
After arriving at the overall market size from the market size estimation process explained above, the minimally invasive surgery market was split into segments and subsegments. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Additionally, the minimally invasive surgery market was validated using both top-down and bottom-up approaches.
Market Definition
Minimally invasive surgery (MIS) is a surgical procedure done in a manner that causes little to no trauma or injury to a patient. MIS is executed through a cannula using lasers, endoscopes or laparoscopes. MIS involves less bleeding, smaller amounts of anesthesia, less pain, and minimal scarring than other procedures. The surgical instruments used to make minute incisions in the body and perform MIS procedures are minimally invasive.
Key Stakeholders
- Manufacturers and distributors of minimally invasive surgical instruments
- Hospitals and clinics
- Ambulatory surgical centers
- Research and development (R&D) companies
- Clinical research organizations
- Research laboratories and academic institutes
- Minimally invasive surgical instruments service providers
- Government associations
- Venture capitalists and investors
Objectives of the Study
- To define, describe, and forecast the minimally invasive surgery market on Product, application and end user.
- To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
- To strategically analyze the micro markets concerning individual growth trends, prospects, and contributions to the total market.
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
- To profile the key market players and comprehensively analyze their market shares and core competencies.
- To forecast the revenue of the market segments concerning five main regions, namely, North America (US and Canada), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), the Asia Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa.
- To track and analyze competitive developments such as new product launches and approvals; agreements, partnerships, expansions, acquisitions; and collaborations in the minimally invasive surgery market.
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the present global minimally invasive surgery market
Product Analysis
- Product matrix, which gives a detailed comparison of the product portfolios of the top thirteen companies.
Company Information
- Detailed analysis and profiling of additional market players (up to 15)
Geographic Analysis
- Further breakdown of the Rest of Europe's minimally invasive surgery market Russia, Belgium, the Netherlands, Switzerland, Austria, Finland, Sweden, Poland, and Portugal among other
- Further breakdown of the Rest of Asia Pacific minimally invasive surgery market Singapore, Taiwan, New Zealand, Philippines, Malaysia, and other APAC countries
- Further breakdown of the Rest of the world minimally invasive surgery market Latin America, MEA, and Africa
Growth opportunities and latent adjacency in Minimally Invasive Surgery Market