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Global Minimally Invasive Medical Devices Market Driven by Benefits of MIS Procedures

By HospiMedica International staff writers
Posted on 31 Jul 2023
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Image: The global minimally invasive medical devices market is forecasted to reach USD 41 billion in 2028 (Photo courtesy of Freepik)
Image: The global minimally invasive medical devices market is forecasted to reach USD 41 billion in 2028 (Photo courtesy of Freepik)

The global demand for minimally invasive surgical (MIS) devices is being driven by the many benefits MIS procedures offer, such as fewer serious surgical and post-surgical complications and faster recovery times. Coupled with a rising prevalence of chronic diseases, these factors are fuelling the growth of the global MIS devices market. As a result, the global market for minimally invasive medical devices which was valued at USD 26.4 billion in 2022 is projected to register a compound annual growth rate (CAGR) of 7.6% to reach USD 41 billion in 2028, driven by the increasing demand for MIS procedures which will be fueled by the growing burden of non-communicable diseases.

These are the latest findings of Research and Markets (Dublin, Ireland), a market research firm.

MIS procedures are typically viewed as less traumatic than traditional open surgeries, which use conventional laparoscopic tools, making them more complex. In MIS, minimally invasive laparoscopic cameras and specialized tools are introduced into the body via small incisions, leading to quicker recovery times and reduced pain for patients compared to other surgical methods. The significantly lower costs of MIS procedures, relative to in-patient and traditional open surgeries, without compromising on treatment outcomes, are one of the primary factors propelling the growth of the MIS devices market.

Technological advancements, particularly within cardiac, ophthalmic, neurological, orthopedic, and oral surgical procedures, leading to higher-quality instruments with superior efficiency, are set to further boost the MIS devices market. The emergence of surgical robots and their global adoption by surgeons will also contribute to market growth. Other key drivers of market growth include an aging population, increased awareness of the benefits of MIS over traditional open surgeries, a surge in healthcare spending, and growing demand for surgeries. Additionally, improved product design providing enhanced control and precision in the operating theater, coupled with increased public-private partnerships supporting research activities, will present substantial growth opportunities for market players during the forecast period.

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