Medtronic PLC (US), Johnson & Johnson (US) are Leading Players in the Minimally Invasive Surgical Instruments Market
The minimally invasive surgical devices market is projected to reach USD 49.9 Billion by 2029 from USD 31.7 Billion in 2024, at a CAGR of 9.5% during the forecast period. The growth of this market is primarily fueled by the rising prevalence of surgical procedures globally, the benefits of minimally invasive surgery compared to traditional open techniques, and the growing utilization of advanced robotics in ambulatory surgical centers. Nevertheless, changing regulatory landsape and the need for substantial high capital investments present significant obstacles to market expansion.
The major players in this market are Medtronic PLC (US), Johnson & Johnson (US), Intuitive Surgical Inc. (US), Boston Scientific Corporation (US), Stryker Corporation (US), Abbott Laboratories, Inc. (US), B. Braun SE (Germany), Conmed Corporation (US), Smith + Nephew (UK), Zimmer Biomet Holdings, Inc. (US), Becton, Dickinson and Company (US), The Cooper Companies Inc. (US), Surgical Innovations Group PLC(UK), Koninklijke Philips N.V. (Netherlands), FUJIFILM Holdings Corporation(Japan).
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Medtronic PLC (US)
Medtronic plc has established itself as the top player in the minimally invasive surgical instruments market, leveraging its robust distribution networks spanning North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The company employs organic strategies as part of its growth approach to further solidify its leadership in this sector. For instance, in November 2023, Medtronic received approval from the United States Food and Drug Administration (FDA) for the Symplicity Spyral renal denervation (RDN) system. These advancements will empower Medtronic to incorporate cutting-edge technologies and products into its portfolio, thereby enhancing its position in the minimally invasive surgical instruments market.
Johnson & Johnson (US)
Johnson & Johnson held the second-largest portion of the minimally invasive surgical instruments market. Its prominent standing in this sector is credited to its robust worldwide sales and distribution channels, facilitating efficient product marketing across diverse regions. Furthermore, Johnson & Johnson allocates a substantial portion of its revenue to research and development, empowering the company to innovate and introduce new products to the market. In November 2023, Johnson & Johnson MedTech announced that the MONARCH Platform and MONARCH Bronchoscope have received regulatory approval in China.
Intuitive Surgical (US)
The dominant market position is attributed to heightened sales of advanced surgical instruments and an increase in general surgery procedures. Additionally, the surge in investments aimed at expanding product offerings in the surgical robots market contributes to this leading status. Moreover, the strategic escalation of investments aimed at broadening the array of product offerings within the surgical robots market significantly bolsters this leading position.
Related Reports:
Minimally Invasive Surgical Instruments Market by Product (Handheld, Inflation Devices, Surgical Scopes), Type of Surgery (Cardiothoracic, Gastrointestional, Bariatric, Orthopedic, Urological), Technology (Non-robotic, Robotic) - Global Forecast to 2029
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