(MENAFN- America News Hour)In a recently published report, Minimally Invasive Devices Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Minimally Invasive Devices Market products.
''Final Report will add the analysis of the impact of COVID-19 on this industry.''
Request For Sample@
Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Minimally invasive procedures involve tiny incisions made instead of one large opening. The surgeon inserts a thin tube through the tiny incision with a small camera attached at the end. These procedures are carried out using minimally invasive devices. The main advantages of these devices are that they cause less pain, enable shorter hospital stay, impose less injury to tissue and have a higher accuracy rate. The largest product segment of the minimally invasive devices market are surgical devices (stents, catheters and guide wires).
Technology
Cardiothoracic applications are the less invasive surgeries than the traditional open-heart ones, with concomitant advantages in terms of shorter recovery times and are expected to dominate the Global minimally invasive devices market. Orthopedic surgery on damaged joints is often conducted using MIS (Minimally Invasive Surgery) techniques, such as arthroscopy. Gallbladder removals, Nissen fundoplication, adhesiolysis, appendectomies, colon resections and hernia repairs are among the most frequently performed gastrointestinal surgical procedures using MIS techniques. Gynecological surgeons were among the initial ones to use MIS techniques. The urology surgical procedures that involve MIS techniques are Nephrectomy, Cystocele/Rectocele Repair, and Pediatric Urology. The other MIS applications include vascular, thoracic and cosmetic.
Market Dynamics
The major driver in the growth of the minimally invasive devices market is the ever-increasing demand for minimally invasive procedures to be undertaken at medical facilities and the ultimate goal of having a better quality of patient life. Advancements in technology, the rise in physician-owned ASCA, Reduced healthcare expenditure, an increase in the aging population around the globe and the increasing prevalence of spinal disorders are the other driving factors. New products have been developed with innovative platforms. Better equipped devices help in improving the precision of the surgery, thereby minimizing surgical errors and improving the overall clinical outcomes of the patient. Conversely, factors inhibiting the market growth are the lack of skilled surgeons and the high cost of treatment. The number of skilled surgeons available for laparoscopic surgeries is also lacking. Difficulty in handling devices and restricted operating area vision also add to the complexity of the procedure.
Market Segmentation
The global minimally invasive devices market is segmented on the basis of type of products (surgical equipment, monitoring & visualization equipment, CT scanners, X-Ray and ultrasound equipment, robotic-assisted surgical systems, electrosurgical systems, and laparoscopic instruments), technology (laparoscopy, endoscopy, robot – assisted methods, arthroscopic techniques and ablative techniques), applications (cardiac surgery, colorectal surgery, dermatological surgery, ENT surgery, gastrointestinal surgery, gynecologic surgery, lung & respiratory care, neurosurgery, ophthalmology, orthopedic, urology and weight loss) and by end user (hospitals, stand-alone outpatient surgery centers, individual physicians/surgeon, medical education institutes and others).
Geographic Analysis
The global minimally invasive devices market in North America is bound to attain the largest share by 2022 owing to the presence of the leading vendors. US and Canada have advanced infrastructure-based medical facilities which has led to the high adoption of MI spinal procedures. Increasing medical tourism toward the Asia-Pacific owing to the low cost of surgery will drive the market revenue in countries such as India, China, Singapore, and Malaysia. The market here is anticipated to grow at a significant pace, with Japan being the leading contributor. Developed countries such as the UK, Spain, Germany, France, and Italy in the European Continent also have advanced medical infrastructure to adapt MIS procedures.
Request For Sample@
Key Players
Some of the major players in the Minimally Invasive Devices market are Abbot Laboratories, Arthro Care Corp., Arthrex, Biomet, Boston Scientific, Covidien Ltd., C. R. Bard, Inc., Conmed Corp., Cooper Surgical Inc., Ethicon Inc., Getinge AB, Given Imaging Ltd., Hill-Rom Holdings, Inc., Hitachi High- Technologies Corporation, Hologic, Inc., Integrated Endoscopy Inc., Intuitive Surgical, Inc., Karl Storz GmbH & Co. KG, MAKO Surgical Corp, Medtronic Inc., NovaTract Surgical Inc., Olympus Optical Co. Ltd., Omniguide Surgical, Philips Healthcare, REMA Medizintechnik GmbH, Smith & Nephew Plc., Stryker Corp., Surgical Innovations Group Plc., Teleflex Inc., Toshiba Medical Systems, and Zimmer-Biomet Holdings Inc. Boston Scientific and Ethicon Inc. are two major companies in the industry to look out for.
The report contains comprehensive analysis on:
Global Minimally Invasive Devices Market Segments
Global Minimally Invasive Devices Market Drivers, Restraints and Opportunities. Global Minimally Invasive Devices Market Size & Forecast 2016 to 2022.
Supply & Demand Value Chain
Global Minimally Invasive Devices Market Current Trends
Competition & Major Companies
Technology and R & D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
Regional analysis for Feed Software Market includes
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.
Report Highlights:
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
In-depth Market Segmentation
Historical and Projected Market Sizing in terms of volume and value
Recent market trends and Impact Factors
R & D Status and Technology Overview
Extensive Industry Structure Coverage
Request For Sample Request:
Contact Us
Name: David
Email :
Phone: +1 313 462 0609
Darlene Dooley
Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.
MENAFN15062021004545010068ID1102278688