The various types of minimally invasive surgeries performed include orthopedic, cosmetic, breast, vascular, thoracic, gynecological, bariatric, cardiac, gastrointestinal and urological surgery.
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Minimally invasive surgery market detailed analysis and forecast by 2019
1. Minimally Invasive Surgery Market Detailed Analysis and
Forecast by 2019
Report Description
The rise in geriatric population throughout the globe is
contributing greatly to the increasing number of various
minimally invasive surgeries (MIS) such as breast, orthopedic,
2. cardiac, gynecological and urological surgeries.This is mainly
because, elderly people belong to the high risk patient
category for performing conventional open surgeries due to
their already compromised health and slow recovery from
debilitating conditions. MIS is performed with a tiny incision
in the patient’s body that results in faster recovery, minimal
stay in the hospital, and minimal pain and trauma to the
patient. These surgeries are performed with the help of
various devices that include surgical devices, monitoring and
visualization devices, and endoscopy devices.The overall
global market for minimally invasive surgery is expected to
grow at a CAGR of 10.5% from 2013 to 2019 to reach an
estimated value of USD 50.60 billion in 2019.
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Other key reasons for the double digit growth of this market
include the rise in incidences of various diseases such as
kidney stone, cancer, cardiovascular diseases (CVDs) and
arthritis globally that has greatly expanded the target patient
population seeking MIS procedures. Similarly, rise in
disposable incomes in various nations such as India, China,
Brazil, Mexico and others will also augment the growth of
this market since it will increase the affordability for these
medical services for the patients. The large aged population
in developed nations such as the U.S., Japan, U.K., Germany,
and Italy will continue to grow and in turn propel market
4. growth for MIS during the forecast period. However, the
growth of this market may get hampered to some extent due
to factors such as lack of proper reimbursements in some key
markets and high cost of surgeries.
The market for surgical devices,that includes ablation
devices, electrosurgical devices and medical robotic systems,
accounted for the largest share of the total MIS market in
terms of revenue in 2012.This market is expected to record
the highest CAGR during the forecast period owing to the
extensive utilization of these devices while performing
minimally invasive surgeries. For instance, ablation devices
are utilized on a large scalefor treating majority of the
cancer types. The market for endoscopy devices accounted for
5. the second largest share of the total MIS market in 2012 due
to their popularity among surgeons for locating the surgical
site as well as guiding the movement of surgical instruments.
Monitoring & visualization devices are utilized in combination
with surgical devices wherein they guide the movement of
surgical devices and track the progress of the surgery.
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The various types of minimally invasive surgeries performed
include orthopedic, cosmetic, breast, vascular, thoracic,
gynecological, bariatric, cardiac, gastrointestinal and
urological surgery. The market for cosmetic surgeries is
expected to grow at the highest CAGR in the near future due
6. to the increasing demand for cosmetic surgeries along with
rise in disposable incomes. The orthopedic surgery market is
expected to show the second highest growth rate owing to
the rise in incidences of various orthopedic conditions such
as arthritis and reduced bone density. In 2012, the market
for cardiac surgery accounted for the largest share in terms
of revenue due to the presence of a large patient pool
suffering from cardiovascular conditions around the globe.
Geographically, the largest market share in terms of revenue
was contributed by the North American region in 2012. This
is due to the presence of a large patient pool, presence of
leading device manufacturers in the region and a well-
established reimbursement scenario. The Asia-Pacific market
7. is expected to show the highest growth rate of 13.3% during
the forecast period 2013 to 2019 owing to various factors
such as rise in medical tourism in emerging nations like India
and Thailand, aging population and the growing interest of
device manufacturers in the region. It is estimated that
around 456,303 million people will be aged above 65 years
by 2025 in Asia-Pacific.
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invasive-surgery-market
The major players operating in the global MIS market include
Intuitive Surgical, Inc., GE Healthcare, Siemens Healthcare,
Philips Healthcare, Medtronic, Inc., Stryker Corporation and
8. Biomet, Inc. These companies have captured leading positions
in the market due to their broad product portfolios andheavy
investmentsin the development and introduction of
technologically advanced products in the market. For
instance,introduction of da Vinci Surgical System by Intuitive
Surgical, Inc. strengthened the company’s presence in the
medical robotics market since this newly launched medical
robotic system is an advanced version of other robotic
systems.
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