The market for minimally invasive surgery is anticipated to expand significantly during the next few years. A number of factors are responsible for the growth, including the rising incidence of chronic diseases like cancer and cardiovascular diseases, technological developments in surgical instruments, the growing demand for shorter hospital stays and quicker recovery times, and the growing elderly population. The market for minimally invasive surgery is also predicted to rise as a result of the surge in demand for laparoscopic procedures. Due to the fact that older people are more prone to chronic diseases, an increase in the geriatric population is another factor driving the growth of the minimally invasive surgery market. Furthermore, the industry is growing due to the increase in surgeries.
RECESSION IMPACT
The healthcare sector and the market for minimally invasive surgery are just two examples of the many areas of the economy that can be significantly impacted by recessions. People may lose their employment, have their income decline, and have less money available during a recession, all of which can lower demand for medical services and surgical procedures. A recession can have a variety of effects on the market for minimally invasive surgery. Due to financial limitations, patients may delay or postpone elective surgeries, which lowers the demand for surgical procedures. Financial difficulties may also affect hospitals and healthcare organisations' capacity to invest in new machinery and technology, which may slow down the adoption of minimally invasive surgical techniques.
DRIVING FACTORS
Growing Incidence of Chronic Diseases to Drive Market Growth
The market for minimally invasive surgery is anticipated to grow in popularity as chronic diseases become more common. Long-lasting illnesses known as chronic diseases are frequently incurable but can occasionally be treated and managed. Chronic illnesses are caused by a changing lifestyle, poor eating habits, and failure to maintain a healthy weight; a few more protracted chronic infections increase the likelihood of developing cancer. The need for minimally invasive surgery for patients has increased as a result of increased awareness of this disease. Patients who undergo this type of surgery experience fewer complications, less post-operative pain, a shorter hospital stay, quicker recovery times, less scarring, and less immune system stress. For instance, a research report released by American Action Forum in September 2020 found that chronic disease incidence and costs are increasing and will continue to do so as the condition becomes more common among adolescents and young adults. Hence, the market for minimally invasive surgery is expanding due to the rising frequency of chronic disorders.
RESTRAINING FACTORS
High Cost of Minimally Invasive Surgery to Limit Market Growth
The high cost of these procedures is one of the main market inhibitors for the minimally invasive surgery business. The utilisation of cutting-edge technologies, specialised tools, and highly skilled personnel during minimally invasive surgery frequently raises the cost of the treatments. For instance, specialised tools like endoscopes, cameras, and robotic arms are needed for laparoscopic or robotic-assisted procedures, which are costly to purchase and maintain. Disposable tools may also be needed for these treatments, raising the overall cost. Moreover, preoperative testing such as imaging scans or blood tests as well as postoperative treatment such as follow-up visits, rehabilitation, and medication may be included in the cost of minimally invasive surgery. Each of these elements has the potential to raise the procedure's overall cost, making it more expensive than regular surgery.
SEGMENTATION
By Condition
Based on condition, the minimally invasive surgery market is segmented into gastrointestinal conditions, spinal conditions, gynecologic conditions and other conditions. The gynecologic conditions category dominated the market in 2022 due to strict government rules, an increase in the number of women and the occurrence of gynaecological disorders, leading to the development of advanced minimally invasive surgical devices. However, due to an increase in the frequency of axial spondyloarthritis and technological improvements in the healthcare industry, the spinal condition segment is anticipated to have significant growth over the forecast period.
By Service Type
Based on service type, the minimally invasive surgery market is segmented into laparoscopic surgery, (appendectomy, hysterectomy, myomectomy, colectomy, others), robotic surgery (colorectal surgery, gynecologic surgery and others). The robotic surgery category dominated the market in 2022 due to the growing number of patients with neurological, gynaecological, urological, and cardiovascular conditions. When compared to open surgery, robotic surgery has many advantages for patients, including quicker recovery times, smaller incisions, less blood loss, and minimal scarring. It also requires less time in the hospital.
By End User
Based on end user, the minimally invasive surgery market is segmented into hospitals & clinics and ambulatory surgical centers. The hospitals & clinics category dominated the market in 2022. This is a result of the numerous surgeries that are performed in hospitals. Furthermore, one of the primary factors in building trust among people is the abundance of medical specialists at hospitals.
REGIONAL INSIGHTS
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North America is projected to hold the largest share of the minimally invasive surgery market over the forecast period. The increased prevalence of minimally invasive surgeries and the rising incidence of chronic diseases are the main causes of the exponential growth. Moreover, advancements in a variety of surgical instruments from well-known, significant firms are projected to fuel market expansion in the United States. The development of healthcare services, the adoption of new technology, and growing public knowledge of alternative treatment choices are other drivers boosting market expansion. On the other hand, the Asia Pacific minimally invasive surgery market is anticipated to grow significantly. The region's growing healthcare infrastructure, increasing investments in the industry, rising healthcare costs, rising spending power, rising geriatric population, technology improvements, and the presence of international healthcare providers in the area are all contributing factors.
LIST OF KEY COMPANIES PROFILED:
- Apollo Hospitals Enterprise Ltd.
- Bedfordshire Hospitals
- Circle Health Ltd.
- Manipal Health Enterprises Pvt Ltd.
- King Fahd Medical City
- Mount Elizabeth Hospital
- Singapore General Hospital Ltd.
- Stanford Healthcare
- The General Hospital Corporation
- The Johns Hopkins Hospital
- In November 2019, Robot-assisted, minimally invasive surgery using the Avatera system was successfully evaluated for CE conformity by the pioneering German medical technology company Avateramedical GmbH.
| Attributes | Details |
| Market Size in 2022 | USD 20.5 Billion |
| Market Forecast in 2030 | USD 33.4 Billion |
| Compound Annual Growth Rate | 7.20 % |
| Unit | Revenue (USD Million) and Volume (Kilo Tons) |
| Segmentation | By Condition, By Service Type, By End User and By Geography |
| By Condition |
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| By Service Type |
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| By End User |
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| By Region |
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| Base Year | 2022 |
| Historical Year | 2016-2021 |
| Forecast Year | 2023-2030 |
