The Market for Minimally Invasive Medical Devices
The global minimally invasive medical devices market should reach $41.0 billion by 2028 from $28.5 billion in 2023 at a compound annual growth rate (CAGR) of 7.6% for the forecast period of 2023 to 2028.
- 21 data tables and 26 additional tables
- An up-to-date overview and industry analysis of the global markets for minimally invasive medical surgical devices and instruments within the industry
- Analyses of the global market trends, with historical market revenue data (sales figures) for 2020-2022, estimates for 2023, and projections of compound annual growth rates (CAGRs) through 2028
- Estimation of the current market size and revenue growth forecast for the global minimally invasive medical devices market in USD million values, and corresponding market share analysis based on equipment type, application, end user, and region
- Identification of the segments of main types of minimally invasive devices and instruments that have been commercialized till date
- Analysis of historical and current volume and value of shipments of each of these product segments in specified end user and geographic markets
- Updated information on key market drivers and opportunities, industry shifts and regulations, and other region and industry specific macroeconomic variables that will influence this market in the coming years (2023-2028)
- Identification of promising new surgical procedures and products still in the development and testing stage and assess their probability of successful commercialization in the next 5 years
- A look at the leading device manufacturers and analyze the structure of the minimally invasive surgical devices industry (e.g., market shares, concentration and recent merger and acquisition (M&A) activity)
- Discussion of the current state of minimally invasive medical surgical devices and instruments, commercialized and pipeline products, regulations and standards, as well as key industry aspects
- Review of the key patent grants and patent applications on minimally invasive medical surgical devices and instruments
- Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
- Descriptive company profiles of the leading global players of the industry, including 3M, Abbott, Danaher Corp., Johnson & Johnson and Olympus Corp.
This report on minimally invasive medical devices is segmented based on equipment types, application types and end users.
A detailed analysis illustrating market dynamics and market structure is incorporated in the report. A Porter’s Five Forces analysis and the supply and distribution chain are discussed in detail for an in-depth market understanding. The report covers the current regulations and guidelines for minimally invasive medical devices. The report includes top market players detailing their business operations, segment focus, revenue, and strategy analysis. Market share analysis of leading market players, product launches, and pipeline products are also captured in the information.
Regarding geography, the reports analyze the market across North America, Europe, and Asia-Pacific. Key countries like the U.S., Canada, Mexico, Europe (top five countries), China, India, and Japan are discussed due to the high concentration of minimally invasive medical device manufacturing companies and contract manufacturing organizations in these countries.
The base year for market data is 2022, with historical data for 2020 and forecast data for 2028. Historical, base year and forecast data are provided for each market segment of the report.
Frequently Asked Questions (FAQs)
- B Braun
- Johnson & Johnson
Kalyani Kottapenta – Assistant Manager, Life Sciences
Kalyani Kottapenta is a research professional with nine years of experience in the life sciences and healthcare industry. Her expertise in qualitative and quantitative market information, including market dynamics like market sizing, advanced excel based market modeling, data analysis, forecasting, company share analysis, and competitive landscape assessment of the medical device industry, developing custom reports. She holds a master’s degree in Microbiology and a bachelor’s in Biotechnology and Chemistry.
|Base year considered||2022|
|Forecast period considered||2023-2028|
|Base year market size||$26.4 billion|
|Market size forecast||$41.0 billion|
|Growth rate||CAGR of 7.6%|
|Units considered||$ Millions|
|Segments covered||equipment type, application, and end user|
|Regions covered||North America, Europe, Asia-Pacific, and Rest of the World (ROW)|
|Key Market Drivers||
The global market for MIS devices and equipment sales should grow from $21.2 billion in 2019 to $29.9 billion by 2024 with a compound annual growth rate (CAGR) of 7.1% for the period of 2019-2024.
- 38 tables
- An overview of the global markets for minimally invasive medical devices
- Analyses of global market trends with data from 2018, estimates for 2019, and projections of compound annual growth rates (CAGRs) through 2024
- Regional dynamics of the market covering Americas, EMRA, APAC and other emerging economies
- Discussion of current state of minimally invasive surgical devices and equipments, commercialized and pipeline products, regulations and legislations, as well as key industry aspects
- Examination of vendor landscape and profiles of industry leading players, including B. Braun Aesculap, Fujifim Holdings Corp., Medtronic Ent Inc., Stryker Corp., Olympus Optical Co., Ltd. and Gyrus Acmi Corp.
The global market for MIS devices and equipment was about $14.5 billion in 2013. This market reached about $15.4 billion in 2014 and is expected to reach $21.5 billion in 2019, registering a compound annual growth rate (CAGR) of 6.8% for the period 2014-2019.
- An overview of the global markets for minimally invasive medical devices and instruments.
- Analyses of global market trends, with data from 2013, estimates for 2014, and projections of CAGRs through 2019.
- Historical and current volume and value data for shipments, specified by end user and geographic markets.
- Evaluation of demographic, economic, and other factors that will drive future demand for minimally invasive devices.
- Details concerning promising new surgical procedures and products still in the development and testing stage, and assessments of the probability that they will be commercialized successfully in the next five years.
- Analysis of the potential market for these developmental procedures and products, taking into account the estimated probability that they will be commercialized.
- A look at the structure of the minimally invasive surgical devices industry (e.g., market shares, concentration, and recent M&A activity).
The global market for MIS devices and instruments was worth an estimated $13.4 billion in 2010. The market is expected to reach $14.4 billion in 2011 and $21.1 billion by 2016, a compound annual growth rate (CAGR) of 7.9% between 2011 and 2016.
- The global market for MIS devices and instruments was worth $14.8 billion in 2008. This should reach $15.8 billion in 2009 and $23.0 billion in 2014, for a compound annual growth rate (CAGR) of 7.8%.
- The U.S. has the largest share of the market, worth $8.9 billion in 2008 and an estimated $9.5 billion in 2009. This segment is expected to reach $13.6 billion in 2014.
- Cardiothoracic surgery was the largest application segment for MIS devices and equipment in 2007, representing 70% of the total market. Cardiothoracic surgery was followed in order of size by orthopedic surgery (12%), gastrointestinal surgery (10%) and gynecology (3%).
The global market for minimally invasive surgery (MIS) devices and instruments was worth an estimated $12 billion in 2005, and is expected to reach $12.9 billion in 2006 and $18.5 billion by 2011, an average annual growth rate (AAGR) of 7.5% between 2006 and 2011. (These figures include catheters, balloons, stents and other devices used in minimally invasive angioplasty.)
The U.S. accounted for about 60% of the world market, or $7.2 billion in 2005, and is growing at an AAGR of 7.2%. The U.S. market should reach $7.7 billion in 2006 and $11.0 billion by 2011.
Surgical devices (e.g, stents, catheters, guidewires) are the largest product segment of the U.S. minimally invasive surgery market, of which they accounted for about a 69% share in 2005. Monitoring and visualization systems were the second largest segment of the U.S. market in 2005, with an 11% market share, followed by endosurgical instruments (10%), electrosurgical equipment (8%), and robotics (2%). Surgical robots are the fastest-growing equipment /device segment, with an AAGR of 12% between 2006 and 2011, followed by surgical devices, with an AAGR of 8%.
Globally, the MIS devices market saw an average annual growth rate (AAGR) of 10% from 1999 to 2002.
By 2007, the market should rise to approximately $8.3 billion at an AAGR of 6.6%.
The U.S. market represents nearly 60% of the total world market.
Market drivers include demographics, epidemiology, new devices.
The lack of surgeons opting to train in MIS is a potential constraint on the market.