Soaring European Market for MIS

The European market for minimally invasive surgery (MIS) is forecast to soar from the current U.S.$779 million to $1.164 billion in 2011, according to a recent report from Frost & Sullivan (Palo Alto, Ca, USA), an international consulting firm.

This increase is linked to a steady growth in surgical procedures, which is set to trigger more opportunities for MIS. Because of its potential for fewer complications, less complex procedures, and reduced hospital stays, MIS holds particular appeal to cost-conscious health-care authorities. The long-term cost efficiencies may encourage more use of MIS devices despite their higher capital costs.

The emergence of several clinical conditions that lend themselves to MIS techniques is also supporting this market. Clinical specialties such as prostate resection, nephrectomy, ureteric surgery, laparoscopic ablation, fibroids, carpal tunnel syndrome, shoulder and knee surgery, mandibles surgery, gastric bypass, spenectomy, bowel surgery, as well as gastrectomy are among the niche applications that MIS device manufacturers can target.

Also, MIS procedures in pediatrics, oncology, and cardiology are set to widen the adoption of MIS devices. Miniaturization and instrument development will also aid the expanding scope of MIS devices. Companies with product lines catering only to a niche segment can focus on application expansion.

"Such companies need to identify newer surgical procedures that have potential for use of MIS and they should focus more on organ-specific studies than on system-specific studies,” advised Aarti Ajay, a research analyst with Frost & Sullivan.

Cost-containment measures and escalating competition are contributing to overall price erosion within the market. The repair and exchange of endoscopes by companies at a lower price is resulting in further price undercutting. Strategies to maintain profit margins include forging relations with managed-care providers to increase volume sales, developing high-quality, enhanced product features, and continuously improving product technology. In this highly competitive setting, technologic innovation and new-product development are poised to be crucial to retaining profitability.



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