This report provides exclusive insights into the COVID-19 impact on the Minimally Invasive Surgical Instruments Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Minimally Invasive Surgical Instruments Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Minimally Invasive Surgical Instruments Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on minimally invasive surgical instruments market provides an in-depth analysis of segments and sub-segments in the global as well as regional minimally invasive surgical instruments market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional minimally invasive surgical instruments market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global minimally invasive surgical instruments market. According to the report, the global minimally invasive surgical instruments market is projected to grow at a CAGR of 8.7% over the forecast period of 2018-2024.
The instruments used in minimally invasive surgery are called minimally invasive surgical instruments. These are specially designed surgical instruments, with easy permeability, high definition of visibility and other innovative features. Endoscopic, laparoscopic or catheter-based instruments are mostly used instruments during minimally invasive surgery. Now, patients are preferring those hospitals or health care institutions, which has these modern surgery facilities for better treatment. Although these healthcare institutions charge a premium price for these services, patients prefer these services owing to less pain to the body, quick recovery and less fear or chances for post-surgery side effects as infections. Hence, the demand for minimally invasive instruments is growing very rapidly.
The minimally invasive surgical instrument market is segmented on the basis of product type, application, and end-user. The product type instruments include handheld instruments, electrosurgical instruments, guiding devices, and inflation-related surgical instruments. Neurosurgery, cosmetic surgery, urology, obstetrics & Gynecology, ophthalmology, cardiovascular, orthopedic surgery, laparoscopy, and others are the key application of the market. The end-user of these instruments includes hospitals, ambulatory surgical clinics, and research institutes. The handheld instrument segment has the largest market share in the product segment. This segment is expected to grow at the highest CAGR of 9.3% during the forecast period. Additionally, visualizing scopes is growing at the highest CAGR in the handheld instrument segment.
North America holds the dominating position in the global minimally invasive surgical instruments markets. This market has a leading position owing to the presence of a large number of minimally invasive surgical instruments manufacturing companies. Additionally, a rapidly growing old age population, an increasing number of modern health care institutions offering these services, and availability of skilled health care professionals are helping to grow this market in this region. Europe is the second largest market of the minimally invasive instruments. Asia-Pacific is expected to grow with the highest CAGR during the forecasted period. The growing acceptance of modern minimally invasive techniques by the health care professionals is expected to propel the market in this region.
The report on global minimally invasive surgical instruments market covers segments such as product type, application, and end-user. On the basis of product type, the sub-markets include handheld instruments, electrosurgical instruments, guiding devices, and inflation systems. On the basis of application, the sub-markets include neurosurgery, cosmetic surgery, urology, obstetrics and gynecology, ophthalmology, cardiovascular, orthopedic surgery, laparoscopy, and others (cancer, wound closure, audiology). On the basis of end-user, the sub-markets include hospitals, ambulatory surgical clinics, and research institutes.
The report provides profiles of the companies in the market such as B. Braun Melsungen AG, Ethicon USA, LLC, Medtronic, Stryker, Smith & Nephew, Applied Medical Resources Corporation, CONMED Corporation, Abbott, Zimmer Biomet, and HOYA Corporation.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of minimally invasive surgical instruments market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.