Global Minimally Invasive Surgical Devices Market to Reach USD 28.5 Billion by 2026 Due to Need for Lesser Complications in Surgeries
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By HospiMedica International staff writers Posted on 08 Feb 2022 |
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The global minimally invasive surgical devices market is projected to grow at a CAGR of 5.56% from USD 20.93 billion in 2020 to USD 28.54 billion by 2026, driven mainly by the increasing preference for minimally invasive surgeries to avoid physical scar marks and painful recovery, and increasing instances of prolonged & chronic diseases such as cardiovascular diseases, neurological diseases, cancer, etc., where surgeries are a must as a treatment method.
These are the latest findings of Research and Markets (Dublin, Ireland), a market research company.
Minimally invasive devices are technologically advanced and require rather small entry points to enter the human body. Complications of surgeries like cancer removal surgeries, endoscopic surgeries, cardiovascular surgeries, etc. has also increased preference among surgeons for minimally invasive surgeries in order to avoid mistakes, post op-pain for patient, over bleeding, or other complications. Furthermore, increased investment in the healthcare sector, consistent research and development of innovative medical devices by multiple market players are further driving market growth.
However, technological advancements in existing medical devices demands financial and research investments from the market players, and the manufactured medical devices are also required to obtain approvals through clinical trials before being commercialized and utilized for patient treatment, that may restrain market growth.
Based on type, the handheld instruments segment is anticipated to hold the largest revenue share of the minimally invasive surgical devices market and maintain a dominant position on account of increasing demand for precision during surgeries. Moreover, a surge in the demand for technologically-advanced surgical devices like graspers, retractors, and elevators is also expected to support market growth.
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