North America Minimally Invasive Devices Market by Products (Inflation devices, Handheld Instruments, and Surgical Scopes), Applications (Gastrointestinal, Urological, Cardiovascular, Orthopedic, Aesthetic, Gynecological, and Others), and Region - North America Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
The North America Minimally Invasive Devices Market size was valued at USD XX Billion in 2022 and is expected to surpass USD XX Billion by 2031, expanding at a CAGR of 8.5% during the forecast period, 2023 – 2031. The growth of the market is attributed to the rise in the number of patients along with insurance providers, reduced cost of the minimally surgery procedure, and convenience in the open surgeries. Growing geriatric population and rising number of surgeries performed is anticipated to drive the market.
Minimally invasive surgery is a type of surgical technique, which decreases the size of incisions required and also has a lesser recovery time. The minimally device is an instruments and equipments that are used to do this type of surgeries. The medical device is placed within the patients at the time of surgery. There are various procedures they require the need of laparoscopic or arthroscopic devices and endoscope along with large display panel for indirect observations as well as remote control manipulation of equipments.
The surgery is majorly carried out through the small body cavity or through the skin or an anatomical opening and it can also involve a robot assisted system. Minimally invasive devices are a simply invasive device that enters the body by using a minimal footprint. These devices pack more controls and tools into rapidly growing compact architectures are posing different new challenges in manufacture, engineering, and design.
Market Trends, Drivers, Restraints, and Opportunities
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Rising number of surgeries is expected to boost the market growth in the coming years.
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Rapid growth of the hospital sector is major factor propelling the market expansion during the forecast period.
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High cost of the minimally invasive devices is estimated to restrict the market growth in the coming years.
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Lack of knowledge about devices to the people acts as main challenge that can impede the market expansion during the forecast period.
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R&D investment and technological advancement in minimally invasive devices are projected to offer lucrative opportunities for the market players.
Scope of the Report
The report on the North America minimally invasive devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
North America Minimally Invasive Devices Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016–2021 |
Forecast Period |
2023–2031 |
Segmentation |
Products (Inflation devices, Handheld Instruments, and Surgical Scopes), Applications (Gastrointestinal, Urological, Cardiovascular, Orthopedic, Aesthetic, Gynecological, and Others) |
Regional Scope |
North America |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Smith & Nephew; Abbott Laboratories; Medtronic Plc.; Zimmer Biomet; Intuitive Surgical Inc.; Johnson & Johnson; B.Braun Melsungen AG; Boston Scientific Corp.; Stryker Corp.; CONMED Corp.; GE Healthcare; Siemens Healthineers; Olympus Corp.; and Koninklijke Philips NV |
Market Segment Insights:
Handheld instruments segment is projected to account for a large market share
Based on products, the North America minimally invasive devices market is divided into inflation devices, handheld instruments, and surgical scopes. The handheld instruments segment is expected to constitute a key share of the market during the forecast period owing to the development of dexterity, rising number of surgical procedures, and decreasing cost of articulating laparoscopic handheld surgical instruments. However, the inflation devices segment is anticipated to expand at a rapid pace during the forecast period due to growing adoption of inflation devices.
Cardiovascular segment is projected to hold a key market share
On the basis of applications, the market is segmented into gastrointestinal, urological, cardiovascular, orthopedic, aesthetic, gynecological, and others. The cardiovascular segment is expected to represent a key share of the market in the coming years due to increasing awareness regarding the importance of early detection of cardiovascular competitions and rising prevalence of cardiac diseases. On the other hand, the orthopedic segment is anticipated to expand at a rapid pace during the forecast period owing to growing adoption of minimally invasive devices and convenience.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Minimally Invasive Devices Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Minimally Invasive Devices Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Minimally Invasive Devices Market - Supply Chain
4.5. Global Minimally Invasive Devices Market Forecast
4.5.1. Minimally Invasive Devices Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Minimally Invasive Devices Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Minimally Invasive Devices Market Absolute $ Opportunity
5. Global Minimally Invasive Devices Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Minimally Invasive Devices Market Size and Volume Forecast by Applications
5.3.1. Gastrointestinal
5.3.2. Urological
5.3.3. Cardiovascular
5.3.4. Orthopedic
5.3.5. Aesthetic
5.3.6. Gynecological
5.3.7. Others
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Minimally Invasive Devices Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Minimally Invasive Devices Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Minimally Invasive Devices Demand Share Forecast, 2019-2026
7. North America Minimally Invasive Devices Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Minimally Invasive Devices Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Minimally Invasive Devices Market Size and Volume Forecast by Applications
7.4.1. Gastrointestinal
7.4.2. Urological
7.4.3. Cardiovascular
7.4.4. Orthopedic
7.4.5. Aesthetic
7.4.6. Gynecological
7.4.7. Others
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Minimally Invasive Devices Demand Share Forecast, 2019-2026
8. Latin America Minimally Invasive Devices Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Minimally Invasive Devices Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Minimally Invasive Devices Market Size and Volume Forecast by Applications
8.4.1. Gastrointestinal
8.4.2. Urological
8.4.3. Cardiovascular
8.4.4. Orthopedic
8.4.5. Aesthetic
8.4.6. Gynecological
8.4.7. Others
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Minimally Invasive Devices Demand Share Forecast, 2019-2026
9. Europe Minimally Invasive Devices Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Minimally Invasive Devices Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Minimally Invasive Devices Market Size and Volume Forecast by Applications
9.4.1. Gastrointestinal
9.4.2. Urological
9.4.3. Cardiovascular
9.4.4. Orthopedic
9.4.5. Aesthetic
9.4.6. Gynecological
9.4.7. Others
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Minimally Invasive Devices Demand Share Forecast, 2019-2026
10. Asia Pacific Minimally Invasive Devices Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Minimally Invasive Devices Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Minimally Invasive Devices Market Size and Volume Forecast by Applications
10.4.1. Gastrointestinal
10.4.2. Urological
10.4.3. Cardiovascular
10.4.4. Orthopedic
10.4.5. Aesthetic
10.4.6. Gynecological
10.4.7. Others
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Minimally Invasive Devices Demand Share Forecast, 2019-2026
11. Middle East & Africa Minimally Invasive Devices Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Minimally Invasive Devices Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Minimally Invasive Devices Market Size and Volume Forecast by Applications
11.4.1. Gastrointestinal
11.4.2. Urological
11.4.3. Cardiovascular
11.4.4. Orthopedic
11.4.5. Aesthetic
11.4.6. Gynecological
11.4.7. Others
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Minimally Invasive Devices Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Minimally Invasive Devices Market: Market Share Analysis
12.2. Minimally Invasive Devices Distributors and Customers
12.3. Minimally Invasive Devices Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Smith & Nephew
12.4.2. Abbott Laboratories
12.4.3. Medtronic Plc.
12.4.4. Zimmer Biomet
12.4.5. Intuitive Surgical Inc.
12.4.6. Johnson & Johnson
12.4.7. B.Braun Melsungen AG