According to a market report by Lucintel, the future of the global minimally invasive surgical instrument market looks promising with opportunities in the hospital & clinic and ambulatory surgery center & clinic markets. The global minimally invasive surgical instrument market is expected to reach an estimated $45.6 billion by 2028 with a CAGR of 7.9% from 2023 to 2028. The major drivers for this market are increasing incidence of chronic disorders, escalating funding towards healthcare research and development, growing concern towards lifestyle-related illnesses, and growing geriatric population across the globe.
In this market, handheld instruments, inflation devices, surgical scopes, cutting instruments, guiding devices, and electrosurgical & electrocautery instruments are the different segments of minimally invasive surgical instrument market by product. Lucintel forecasts that handheld instruments will remain the largest segment over the forecast period because these instruments are cost effective and easy to use and it also helps in minimizing harm to surrounding tissues, thus leading to quicker patient recuperation while mitigating discomfort and other unfavourable outcomes.
Within this market, hospitals & clinics segment will remain the largest segment because of the rise in chronic conditions among the elderly population that resulted in an increase in hospital admissions aiming at addressing the chronic aliment issues, as well as increasing initiatives by the governments worldwide to enhance healthcare infrastructure.
North America will remain the largest region over the forecast period due to existence of robust healthcare facilities, supportive government reimbursement policies, along with the widespread occurrence of chronic illnesses in this region.
Medtronic, Johnson & Johnson, Stryker Corporation, Abbott Laboratories, Boston Scientific Corporation, GE Healthcare, Intutive Surgical, Nuvasive, and Zimmer Biomet are the major suppliers in the global minimally invasive surgical instrument market.
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