Overview:
The healthcare industry has recently witnessed the adoption of many new technologies that increase the efficiency of various medical treatments. Minimally invasive surgery (MIS) is one of the most important developments among all such cutting-edge medical technologies. This report uses the term ‘minimally invasive surgery’ to include non-invasive surgeries as well. The increasing demand of specialized treatment has propelled the market growth for MIS; and many companies – especially the new entrants from developing nations – are competing to benefit out of the rapid growth of this market.
With its progressive technological advancements such as capsule endoscopy and drug eluting stent, the MIS market is set to evolve due to the increasing demand for patient convenience, such as painless treatment and reduced post-operative stay. The MIS market has a current potential of $16.4 billion and is expected to grow at a CAGR of 8.3% between 2009 and 2014. The U.S. holds the major share of the global MIS market; and the growth of the U.S. market is driven by its growing ageing population and improvements in MIS technologies.
As the people are demanding more convenience such as painless treatment, and less post operative stay in surgeries, the market is set to evolve as a miniature instrument based surgery in the future, which will ensure further convenience in such type of surgeries. The introduction of capsule endoscopy is one such example. The minimal invasive surgery market is evolving towards more convenience for the patients and subsequent technological advancements. This showcases the growth potential of the miniature instruments based surgeries in future.
In 2009, the global minimal invasive/ non invasive market is estimated to be approximately $16.4 billion and is expected to reach $24.4 billion by 2014 at a CAGR of 8.3%.
Major driving factors for the minimal invasive/ non invasive surgery market
Increase in aging population (65 years and above) Increase in demand of less risky operating methods Pressure to reduce heath care cost Lesser hospitalization period compared to conventional surgeries Higher rate of acceptanceMajor restraints for the minimally invasive/ non invasive surgery market
Limited number of surgeries performed with minimally invasive technique Requirement of specialized training and equipments to perform such surgeriesMajor opportunities for the minimally invasive/ non invasive surgery market lies in its huge market size and growth which is driving new entrants in the market.
In the minimally invasive product market (which includes surgical devices, monitoring and visualization system, endosurgical equipments, medical robotics, and electrosurgical equipments), medical robotics is the fastest growing segment which is expected to reach $1.1 billion by 2014 growing at a CAGR of 21.3%, while surgical device alone constitute approximately $11.3 billion in 2009, which is more than 65% of the entire market.
In the minimally invasive application market (which includes gastrointestinal surgery, gynecology surgery, urology surgery, cosmetic surgery, obesity surgery, thoracic surgery, cardiac surgery, vascular surgery, orthopaedic surgery, and other surgery), cardiac surgery forms the major share of this market with estimated annual revenue of $11.2 billion in 2009. While orthopedic surgery is the highest growing market with a CAGR of 12.9% for the period 2009 to 2014 mainly due to introduction of new technologies such as joint replacements and bio implants in such surgeries.
The report covers the following markets and their subsequent micro markets as well in detail which includes their market size, forecast up to 2014, market drivers, restraints, competitive landscape, and issued patents.
Product (surgical devices, monitoring and visualization system, endosurgical equipments, medical robotics, and electrosurgical equipments) Application (gastrointestinal surgery, gynecology surgery, urology surgery, cosmetic surgery, obesity surgery, thoracic surgery, cardiac surgery, vascular surgery, orthopaedic surgery, and other surgery) Technology (Transcatheter surgery, laparoscopy surgery, non visual imaging and robotics) End user (Hospital surgical departments, outpatient surgery centers, group practices, individual surgeons, medical schools, and other users)
Market estimates and forecasts
The report provides in-depth market estimates and forecast for global minimally invasive/non-invasive market as follows:
• MIS market – products
Surgical devices, monitoring and visualization systems, endosurgical equipment, medical robotics, and electrosurgical equipment
• MIS market – application
Gastrointestinal surgery, gynecological surgery, urological surgery, cosmetic surgery, obesity surgery, thoracic surgery, cardiac surgery, vascular surgery, orthopaedic surgery, and other surgery
• MIS market – technology
Transcatheter surgery, laparoscopy, non-visual imaging, and medical robotics
• MIS market – end user
Hospital surgical departments, outpatient surgery centers, group practices, individual surgeons, medical schools, and other users
Each section will provide market data, market drivers, trends and opportunities, top-selling products, key players, and competitive outlook. This report will also provide more than 100 market tables for various geographic regions covering the sub-segments and micro-markets. In addition, the report also provides 50 company profiles for each of its sub-segments.
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Key questions answered
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