A minimally invasive surgery (MIS) usually involves small incisions (cuts) and few stitches. Some of the instruments used in these surgeries include handheld instruments, electrosurgical instruments, guiding devices, and inflation systems. The minimally invasive surgical instruments market has been growing with the growing number of minimally invasive surgical instruments being used during surgeries. Growing geriatric population, surge in prevalence of chronic diseases and increasing government healthcare expenditure are the other factors leading to the growth of minimally invasive surgical instruments
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Europe held a 28.6% share in the global market in 2017. The growth in the region can be attributed to the surge in rate of chronic disorders and aging population. The WHO released 2014 European union obesity data, which stated that Germany accounted for 54.8%, France 60.7%, Spain 60.9% and U.K. 63.4% of the obese population. The governments, institutes, and companies are introducing various programs for increasing the adoption of minimally invasive surgery instruments. For instance, the European Research programme, Horizon 2020 funded SMARTsurg (SMart weArable Robotic Teleoperated SURgery) project to develop a wearable robotic system for minimally invasive surgery, which was launched on in January 2017 for three years. This program aims to reduce surgeon’s cognitive load (shorter training time), increase accuracy and safety, reduce MIS procedure time and expand applicability thereby fueling the development of minimally invasive surgical instruments market. Furthermore, persistent R&D in minimally invasive surgical instruments is anticipated to create new opportunities during the forecast period.
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In 2016, Medtronic Plc dominated the global minimally invasive surgical instruments market, owing to its broad product portfolio and acquisition. Medtronic’s acquisition of Medina Medical, RF Surgical Systems, Inc., Twelve, Inc., and Covidien Plc in 2015 added a large amount of revenue to the company, increasing its market share. Further, Johnson and Johnson held the second position in the global market, attributed to its wide product portfolio and wide geographical presence. Acquisition of NeuWave Medical, Inc. in 2016 contributed to the growth of the company’s minimally invasive surgical instrument sector.
Some of the key players operating in the minimally invasive surgical instruments market are B. Braun Melsungen AG, Applied Medical Resources Corporation, HOYA Corporation, CONMED Corporation, Abbott Laboratories, Stryker Corporation and Johnson and Johnson.
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