Minimally Invasive Surgery Market

Minimally Invasive Surgery Market to reach an estimated value of USD 50.60 billion in 2019
A recent study by Transparency Market Research (TMR) forecasts that the global minimally
invasive surgery market will grow at a CAGR of 10.5% between 2013 and 2019. TMR a market
intelligence firm based in the United States, in its report states that the global minimally invasive
surgery market, which was valued at US$25.03 billion in 2012, will reach a worth of US$50.60
billion by 2019. The report titled ‘Minimally Invasive Surgery Market - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast, 2013 - 2019’ is available for sale on the website. Factors
such as rising per capita expenditure on healthcare, technological developments, and a growing
global geriatric population stimulate the global minimally invasive surgery market. Greater
preference for minimally invasive procedures and rising incidence of target diseases such as cancer
also drive the market for minimally invasive surgery. The preference for minimally invasive
procedures over the conventional surgical procedures can be attributed to the benefits of the former
type which includes low degree of patient trauma, quick recovery time, and a lesser duration of
hospital stays.
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The global minimally invasive surgery market is segmented on the basis of type of device, type of
surgery, and geography. Based on device type, this market is categorized into surgical devices,
monitoring and visualization devices, and endoscopy devices. In 2012, the segment for surgical
devices held the dominant position in the minimally invasive surgery market. The market for
surgical devices is anticipated to witness robust growth during the forecast period owing to
widespread utilization of these devices in minimally invasive surgeries. On the basis of type of
surgery, the minimally invasive surgery market is segmented into urological, cardiac,
gastrointestinal, bariatric, gynecological, thoracic, vascular, breast, cosmetic, and orthopedic
surgeries. Owing to rising income levels and high demand for cosmetic surgeries, the segment for
cosmetic surgeries is expected to expand substantially in the forecasting horizon.
From the regional perspective, the global minimally invasive surgery market is segmented into
Europe, North America, Asia Pacific, and Rest of the World. In 2012, North America held the
dominant position in the overall minimally invasive surgery market. The growth of this market can
be attributed to a well-defined reimbursement policy, the presence of a large pool of key
manufacturers, and a large patient population. However, between 2013 and 2019, the Asia Pacific
minimally invasive surgery market will record highest rate of growth because of the growth of the
medical tourism industry in countries such as Thailand and India. Some of the prominent companies
operating in the global minimally invasive surgery market include Varian Medical Systems Inc.,
Teleflex Inc., Stryker Corporation, Siemens Healthcare, NuVasive Inc., and Given Imaging Ltd.
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The presence of a large patient pool in most developing economies is anticipated to create several
opportunities for growth of the global minimally invasive surgery market in the near future. Lack of
reimbursement, high costs of minimally invasive surgeries, and the imposition of excise duty on the
sale of medical devices in the American market will hamper the growth of the global minimally
invasive surgery market in the years to come.

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