Early impacts of COVID-19 on Minimally Invasive Surgical Instruments Market

The on-going COVID-19 pandemic—and the worldwide reaction to it—has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.

At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Minimally Invasive Surgical Instruments Market. We are working diligently to help companies take rapid decisions by studying:

• The impact of COVID-19 on the Minimally Invasive Surgical Instruments Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market
• The rapid shifts in the strategies of the Top 50 companies in the Minimally Invasive Surgical Instruments Market
• The shifting short-term priorities of the top 50 companies’ clients and their client's clients

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According to the recent report “Minimally Invasive Surgical Instruments Market by Product (Handheld Instruments, Inflation Devices, Surgical Scopes), Type of Surgery (Cardiothoracic, Gastrointestinal), End User (Hospitals, Ambulatory Surgery Centers and Clinic) - Global Forecast to 2025", published by MarketsandMarkets™, the global MIS instruments market is expected to grow from USD 20.1 billion in 2019 to USD 32.7 billion by 2025, at a CAGR of 8.5% during the forecast period.

Browse in-depth TOC on “Minimally Invasive Surgical Instruments Market”

129 – Tables
32 – Figures
190 – Pages

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Handheld instruments accounted for the largest share of the global MIS instruments market in 2018.

Based on product, the MIS instruments market is segmented into handheld instruments, inflation devices, surgical scopes, cutting instruments, guiding devices, electrosurgical & electrocautery instruments, and other instruments. Handheld instruments accounted for the largest share of the MIS instruments market in 2018, owing to factors such as the increasing number of surgical procedures and the development of high-dexterity, low-cost articulating laparoscopic handheld surgical instruments.

By type of surgery, the cardiothoracic surgery segment accounted for the largest share of the global MIS instruments market in 2018.

Based on type of surgery, the global MIS instruments market is divided into cardiothoracic surgery, gastrointestinal surgery, orthopedic surgery, gynecological surgery, cosmetic & bariatric surgery, urological surgery, and other surgeries. The cardiothoracic surgery segment accounted for the largest share of the global MIS instruments market in 2018.

The large share of this segment can be attributed to the rising prevalence of cardiac diseases, growing awareness about the benefits of early detection of cardiovascular complications, the growing number of coronary and percutaneous cardiology interventions, and increasing adoption of MIS instruments owing to their convenience and better results as compared to other techniques.

The hospital segment accounted for the largest share of the global MIS instruments market in 2018.

Based on end user, the global MIS instruments market is divided into hospitals and ambulatory surgery centers & clinics. The hospitals segment accounted for the largest share of the MIS instruments market in 2018 due to the large number of minimally invasive surgical procedures performed in hospitals owing to the presence of highly skilled healthcare professionals.

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North America accounted for the largest share of the market in 2018.

In 2018, North America accounted for the largest share of the global MIS instruments market, followed by Europe. The large share of the North American market can be attributed to the large volume of surgical procedures performed in North American countries due to early diagnosis and treatment, high cost of procedures as compared to developing regions, increasing number of surgical centers, and growing adoption of minimally invasive surgical techniques.

The major companies in the global MIS instruments market include Medtronic plc (Ireland), Johnson & Johnson (US), Stryker Corporation (US), B. Braun Melsungen AG (Germany), Smith & Nephew plc (US), Boston Scientific Corporation (US), and CONMED Corporation (US).