Global Minimally Invasive Surgical (MIS) Instruments Market Driven by Growing Preference for MIS Procedures
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By HospiMedica International staff writers Posted on 17 Jul 2023 |
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Minimally invasive surgical (MIS) procedures are designed to cause less trauma compared to traditional open surgeries, resulting in lower blood loss, minimal scarring, and reduced infection risks. The demand for MIS procedures is on the rise due to their less traumatic nature and the faster recovery process they offer. Patients are able to return to their daily activities quicker following MIS procedures. Additionally, MIS procedures are significantly more cost-effective compared to in-patient and traditional open surgeries. As a result, the global MIS instruments market is projected to grow at a CAGR of 10.3% from 2023 to 2030, reaching USD 63 billion in 2030.
These are the latest findings of Grand View Research (San Francisco, CA, USA), a market research and consulting company.
Based on device, the handheld instruments segment accounted for the largest revenue share of the MIS instruments market in 2022. However, the electrosurgical devices segment is predicted to experience the fastest growth rate during the forecast period from 2023 to 2030. On the basis of application, the orthopedic segment held the largest revenue share of the MIS instruments market in 2022. MIS procedures within orthopedics provide surgical options that cause minimal tissue disruption. Furthermore, the ongoing adoption of MIS techniques for spine-related procedures has led to an increase in procedural volumes for orthopedic MIS.
Based on end use, the hospital segment held the largest revenue share of the MIS instruments market in 2022. However, the ambulatory surgical center segment is expected to experience the fastest growth in the coming years. Geographically, North America held the majority share of the global MIS instruments market in 2022, primarily due to the supportive reimbursement framework for innovative MIS devices and procedures in the region.
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