Minimally Invasive Surgery Market Statistics - 2030
The global minimally invasive surgery market was valued at $60,643.0 million in 2020, and is estimated to reach $94,421.7 million by 2030, growing a CAGR of 4.7% from 2021 to 2030. Minimally invasive surgery is defined as the surgical procedure conducted through small incision in place of large opening. A surgeon uses a wide range of technique to operate with minimally damage to the body.
Minimally invasive surgery is associated with less pain, fewer complications and shorter hospital stay. Surgeries such as cardiothoracic surgery, gastroesophageal reflux disease, gastroenterology, gynecological surgery, heart surgery, pediatric surgery, urogynecology and pelvic reconstructive surgery, and urological surgery are conducted through minimally invasive surgical procedures. Both diagnostic and treatment surgeries can be performed with minimally invasive surgery.
Growth of the global Minimally invasive surgery market is majorly driven by increase in prevalence of chronic diseases such as gastrointestinal disease, kidney disease, heart disease, and respiratory disease; rise in demand for Minimally invasive surgery; increase in funding from private & government organizations for development of healthcare infrastructure; and advancements in technologies in the field of Minimally invasive surgery. According to the World Health Organization (WHO) in 2021, various types of chronic diseases, such as cardiovascular diseases, cancer, respiratory diseases, and diabetes are responsible for approximately 17.9 million, 9.3 million, 4.1 million, and 1.5 million deaths, respectively. As per the same source, 41 million people die each year due to chronic disease, which is equivalent to 71% of all deaths, globally. Furthermore, surge in demand for laparoscopic surgery is anticipated to fuel growth of the minimally invasive surgery market. For instance, in April 2021, Genesis MedTech, a medical device company, announced launch of novel laparoscopic technology in Singapore and China. This technology allows physicians to conduct Minimallyly invasive surgery instead of open surgery in complicated procedures to reduce risk of patients and enhance recovery time.
In addition, rise in geriatric population fuels the minimally invasive surgery market growth, owing to the fact that aged individuals are more susceptible to chronic diseases. Moreover, rise in number of surgeries boost growth of the market. According to the World Health Organization (WHO), in 2019, it was reported that around 235 million major surgeries are conducted every year across the globe. Further, in March 2021, the U.S. Food and Drug Administration (USFDA) announced that they have given authorized marketing approval to the Hominis Surgical System, a new robotically-assisted surgical device (RASD), which can help facilitate transvaginal hysterectomy in certain patients.
Thus, technological advancements in robotic assistive technology and rise in awareness among individuals regarding advantages of minimally invasive surgery propels growth of the market. However, high cost associated with minimally invasive surgical procedures is expected to restrict the minimally invasive surgery market growth during the forecast period.
Minimally Invasive Surgery Market Segmentation
The global minimally invasive surgery market is segmented into service type, condition, end user, and region. By service type, the market is categorized into laparoscopic surgery, and robotic surgery. The laparoscopic surgery segment is further classified into appendectomy, hysterectomy, myomectomy, colectomy, and others. Further, the robotic surgery services segment is classified into colorectal surgery, gynecologic surgery, and others.
Depending on condition, it is categorized into gastrointestinal conditions, spinal conditions, gynecologic conditions, and other conditions. By end user, the market is fragmented into hospitals & clinics and ambulatory surgical centers.
By Service Type
Laparoscopic Surgery segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.
Region wise, the minimally invasive surgery market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Depending on service type, the laparoscopic surgery segment dominated the minimally invasive surgery market in 2020, and this trend is expected to continue during the forecast period, owing to advancement in minimally invasive surgery technology in healthcare sector, increase in demand for laparoscopic surgery, and rise in number of surgical procedure. However, the robotic surgery segment is expected to witness considerable growth during the forecast period, owing to technological advancement in robotic assisted surgery, increase in number of approval, and distribution agreement of the robotic surgery systems in the hospitals and clinics.
Gynaecologic Conditions segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.
On the basis of condition, the gynecologic conditions segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in incidence of gynecology disorder, rise in female population and stringent government regulations to develop advanced minimally invasive surgical instruments. However, the spinal condition segment is expected to witness considerable growth during the forecast period, owing to increase in prevalence of axial spondyloarthritis, and advancements in technology in healthcare sector.
By end user, the hospitals & clinics segment was the major contributor in 2020, and is expected to maintain its lead during the forecast period, owing to increase in number of hospitals and initiatives taken by governments for development of healthcare infrastructure. However, the ambulatory surgical center segment is expected to witness considerable growth during the forecast period, owing to initiatives taken by governments for advancement of ambulatory surgical centers, surge in demand for minimally invasive surgery, and rise in prevalence of chronic diseases.
By End User
Hospitals and Clinics segment is projected as one of the most lucrative segment.
North America garnered the major share in the Minimally invasive surgery market in 2020, and is expected to continue to dominate during the forecast period, owing to rise in prevalence of chronic diseases, presence of key players, development of the healthcare sector, and advancements in technology for diagnostic instruments in the region. However, Asia-Pacific is expected to register highest CAGR of 5.7% from 2021 to 2030, owing to increase in number of surgical procedures, rise in demand for minimally invasive surgery, improvement in healthcare infrastructure, and technological advancements in minimally invasive surgical instruments.
The key players operating in the global Minimally invasive surgery market include Apollo Hospitals Enterprise Ltd, Bedfordshire Hospitals, Circle Health Ltd, Manipal Health Enterprises Pvt Ltd, King Fahd Medical City, Mount Elizabeth Hospital, Singapore General Hospital Ltd, Stanford Healthcare, The General Hospital Corporation, and The Johns Hopkins Hospital.
North America was holding a dominant position in 2020 and would continue to maintain the lead over the analysis period.
Minimally Invasive Surgery Market Research Study Key Benefits:
- The study provides an in-depth analysis of the minimally invasive surgery market, and the current trends & future estimations to elucidate imminent investment pockets.
- It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing minimally invasive surgery market opportunities.
- Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the minimally invasive surgery market.
Key Market Segments
By Service Type
- Laparoscopic Surgery
- Robotic Surgery
- Colorectal Surgery
- Gynecologic Surgery
- Gastrointestinal Conditions
- Spinal Conditions
- Gynecologic Conditions
- Other Conditions
By End User
- Hospitals & Clinics
- Ambulatory Surgical Centers
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Apollo Hospitals Enterprise Ltd.
- Bedfordshire Hospitals
- Circle Health Ltd.
- Manipal Health Enterprises Pvt Ltd.
- King Fahd Medical City
- Mount Elizabeth Hospital
- Singapore General Hospital Ltd.
- Stanford Healthcare
- The General Hospital Corporation
- The Johns Hopkins Hospital
Minimally Invasive Surgery Market Report Highlights
By SERVICE TYPE
By END USER
Key Market Players
Stanford Healthcare, MOUNT ELIZABETH HOSPITAL, APOLLO HOSPITALS ENTERPRISE LTD, MANIPAL HEALTH ENTERPRISES PVT LTD, KING FAHD MEDICAL CITY, Singapore General Hospital Ltd, The General Hospital Corporation, CIRCLE HEALTH LTD, The Johns Hopkins Hospital, BEDFORDSHIRE HOSPITALS
Growth of the minimally invasive surgery market is attributed to factors such as technological advancements in the healthcare sector; rise in prevalence of chronic disease such as gastrointestinal disease, kidney disease, heart disease, and respiratory disease; initiatives taken by governments for development of various pharmaceutical and biotechnology industries; and rise in awareness among individuals about advantages of minimal invasive surgery procedure. The minimally invasive surgery market gains interest of pharmaceutical and biotechnology companies, owing to surge in demand for laparoscopic surgery and robotic assisted procedure. This leads to increase in adoption of minimal invasive surgery for treatment of chronic disease. Moreover, minimally invasive surgery technology, such as handheld instruments, inflation devices, and surgical scopes, have gained high traction in the market in recent years as minimally invasive surgery tools are used in diagnosis of infectious diseases.
North America is expected to witness the highest growth, in terms of revenue, owing to rise in prevalence of chronic diseases, increase in number of surgical procedure, and advancement in technology for development of innovative technology for minimal invasive surgical procedure in the region.
Asia-Pacific was the second largest contributor to the market in 2020, and is expected to register the fastest CAGR during the forecast period, owing to increase in prevalence of chronic diseases, rise in government initiative for development of healthcare sector, surge in demand for laparoscopic surgery, and increase in adoption of robotics in ambulatory surgical centers.
However, high cost associated with minimal invasive surgical procedure is anticipated to restrain the market growth during the forecast period.