South Korea Minimally Invasive Surgery Devices Market by Products (Handheld Instruments, Guiding devices, Electrosurgical Devices, Endoscopic Devices, Laparoscopic Devices, Monitoring and Visualization Devices, Robotic Assisted Surgical Systems, Ablation Devices, Laser Based Devices, and Others), and Applications (Aesthetic, Cardiovascular, Gastrointestinal, Gynecological, Orthopedic, Urological, and Others) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The South Korea minimally invasive surgery devices market size is expected to expand at a significant CAGR of 5% during the forecast period, 2021–2028. The growth of the market is attributed to the minimally invasive surgery is increasingly used in cosmetic surgery, rise of medical tourism in Korea and technological advancement.
Minimally invasive surgery includes the use of surgical instruments (such as arthroscopy or laparoscope equipment) and remote-control equipment to monitor surgery through a large screen or endoscope. Minimally invasive surgery eliminates large-area incisions and infections, lessen the hospital stay, and early rehabilitation promotion. The use of minimally invasive surgical instrument has now expanded. Some minimally invasive surgical instruments include viewers, stents, sutures, dilators, electrosurgical instruments, balloon inflators, guide catheters, trocars, files, and cannulas.
Market Trends, Drivers, Restraints, and Opportunities
- Growing incidence of chronic diseases and diagnosed by surgeries is expected to boost the market during the forecast period.
- Rapid growth of the healthcare industry due to geriatric population and rising demand among patients for invasive treatments is major factors fueling the market during the forecast period.
- Increasing demand for minimally invasive surgical treatments and rising awareness among medical professionals is expected to drive the market during the forecast period.
- High cost of advanced invasive surgery technologies is anticipated to hamper the market growth.
- Lack of skilled professionals for invasive surgeries and lack of adoption of these technologies act as major factors that can restrict the market growth during the forecast period.
- R&D investment and technological advancement in minimally invasive surgery technologies, less-operative pain during surgeries, and faster recovery are projected to offer lucrative opportunities for the market players.
Scope of South Korea Minimally Invasive Surgery Devices Market Report
The report on the South Korea minimally invasive surgery device 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 |
Minimally Invasive Surgery Device Market - South Korea Industry Analysis, Growth, Share, Size, Trends, and Forecast |
|
Base Year |
2020 |
|
Historic Data |
2018–2019 |
|
Forecast Period |
2021–2028 |
|
Segmentation |
Products (Handheld Instruments, Guiding Devices, Electrosurgical Devices, Endoscopic Devices, Laparoscopic Devices, Monitoring and Visualization Devices, Robotic Assisted Surgical Systems, Ablation Devices, Laser Based Devices, and Others), and Applications (Aesthetic, Cardiovascular, Gastrointestinal, Gynecological, Orthopedic, Urological, and Others) |
|
Geography |
South Korea |
|
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
|
Key Players Covered in the Report |
Olympus Corporation, Smith & Nephew, Medtronic PLC, Siemens Healthineers, and GE Healthcare |
South Korea Minimally Invasive Surgery Devices Market Segment Insights
The handheld instrument segment is projected to hold major market share
Based on products, the minimally invasive surgery device market is segregated into handheld instruments, guiding devices, electrosurgical devices, endoscopic devices, laparoscopic devices, monitoring and visualization devices, robotic assisted surgical systems, ablation devices, laser based devices, and others.
The handheld instrument segment is expected to represent a key share of the market during the forecast period owing to its wide usage in surgical procedures. The number of minimally invasive surgery is increasing every year, which contributes to the growth of the market. Handheld instruments have increased the dexterity of surgeons. In addition, the aging population and technologically advanced equipment’s are accelerating the demand for advanced treatment methods, which is expected to grow rapidly during the forecast period.
On the other hand, the laparoscopic devices segment is anticipated to expand at a rapid pace during the forecast period due to the increasing acceptance of minimally invasive surgery in surgical operations such as ulcerative colitis, obesity, and diverticulitis. Laparoscopic equipment is dominating the market since past few years. There are several growth opportunities in this segment. Laparoscopic surgery is one of the most popular minimally invasive surgeries in the country.
The aesthetic segment is anticipated to expand at a rapid CAGR
Based on applications, the minimally invasive surgery device market is fragmented into aesthetic, cardiovascular, gastrointestinal, gynecological, orthopedic, urological, and others.
The aesthetic segment is expected to represent a key share of the market during the forecast period owing to beauty treatments which is very popular in South Korea. Compared to any other country in the world, South Korea has the most beauty treatments. The country also has a booming medical tourism industry, which is mainly engaged in beauty treatments.
Therefore, plastic surgery medical tourism is also an additional source of income for this market. In Korean society, facial features are considered the most important of all physical features especially for women between 25 and 60 years old. Most of the cosmetic surgeries in Korea are performed with minimally invasive equipment.
Segments
The South Korea minimally invasive surgery devices market has been segmented on the basis of
Products
- Handheld Instruments
- Guiding Devices
- Electrosurgical Devices
- Endoscopic Devices
- Laparoscopic Devices
- Monitoring and Visualization Devices
- Robotic Assisted Surgical Systems
- Ablation Devices
- Laser Based Devices
- Others
Applications
- Aesthetic
- Cardiovascular
- Gastrointestinal
- Gynecological
- Orthopedic
- Urological
- Others
Key Players
- Olympus Corporation
- Smith & Nephew
- Medtronic PLC
- Siemens Healthineers
- GE Healthcare
Competitive Landscape
Key players competing in the minimally invasive surgery devices market include Olympus Corporation, Smith & Nephew, Medtronic PLC, Siemens Healthineers, and GE Healthcare.
Some of these players are using several market strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Minimally Invasive Surgery 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 Surgery 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 Surgery Devices Market - Supply Chain
4.5. Global Minimally Invasive Surgery Devices Market Forecast
4.5.1. Minimally Invasive Surgery Devices Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Minimally Invasive Surgery Devices Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Minimally Invasive Surgery Devices Market Absolute $ Opportunity
5. Global Minimally Invasive Surgery 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 Surgery Devices Market Size and Volume Forecast by Applications
5.3.1. Aesthetic
5.3.2. Cardiovascular
5.3.3. Gastrointestinal
5.3.4. Gynecological
5.3.5. Orthopedic
5.3.6. Urological
5.3.7. Others
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Minimally Invasive Surgery 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 Surgery 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 Surgery Devices Demand Share Forecast, 2019-2026
7. North America Minimally Invasive Surgery 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 Surgery 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 Surgery Devices Market Size and Volume Forecast by Applications
7.4.1. Aesthetic
7.4.2. Cardiovascular
7.4.3. Gastrointestinal
7.4.4. Gynecological
7.4.5. Orthopedic
7.4.6. Urological
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 Surgery Devices Demand Share Forecast, 2019-2026
8. Latin America Minimally Invasive Surgery 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 Surgery 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 Surgery Devices Market Size and Volume Forecast by Applications
8.4.1. Aesthetic
8.4.2. Cardiovascular
8.4.3. Gastrointestinal
8.4.4. Gynecological
8.4.5. Orthopedic
8.4.6. Urological
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 Surgery Devices Demand Share Forecast, 2019-2026
9. Europe Minimally Invasive Surgery 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 Surgery 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 Surgery Devices Market Size and Volume Forecast by Applications
9.4.1. Aesthetic
9.4.2. Cardiovascular
9.4.3. Gastrointestinal
9.4.4. Gynecological
9.4.5. Orthopedic
9.4.6. Urological
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 Surgery Devices Demand Share Forecast, 2019-2026
10. Asia Pacific Minimally Invasive Surgery 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 Surgery 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 Surgery Devices Market Size and Volume Forecast by Applications
10.4.1. Aesthetic
10.4.2. Cardiovascular
10.4.3. Gastrointestinal
10.4.4. Gynecological
10.4.5. Orthopedic
10.4.6. Urological
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 Surgery Devices Demand Share Forecast, 2019-2026
11. Middle East & Africa Minimally Invasive Surgery 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 Surgery 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 Surgery Devices Market Size and Volume Forecast by Applications
11.4.1. Aesthetic
11.4.2. Cardiovascular
11.4.3. Gastrointestinal
11.4.4. Gynecological
11.4.5. Orthopedic
11.4.6. Urological
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 Surgery Devices Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Minimally Invasive Surgery Devices Market: Market Share Analysis
12.2. Minimally Invasive Surgery Devices Distributors and Customers
12.3. Minimally Invasive Surgery Devices Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Olympus Corporation
12.4.2. Smith & Nephew
12.4.3. Medtronic PLC
12.4.4. Siemens Healthineers
12.4.5. GE Healthcare
2. Assumptions and Acronyms Used
3. Research Methodology
4. Minimally Invasive Surgery 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 Surgery 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 Surgery Devices Market - Supply Chain
4.5. Global Minimally Invasive Surgery Devices Market Forecast
4.5.1. Minimally Invasive Surgery Devices Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Minimally Invasive Surgery Devices Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Minimally Invasive Surgery Devices Market Absolute $ Opportunity
5. Global Minimally Invasive Surgery 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 Surgery Devices Market Size and Volume Forecast by Applications
5.3.1. Aesthetic
5.3.2. Cardiovascular
5.3.3. Gastrointestinal
5.3.4. Gynecological
5.3.5. Orthopedic
5.3.6. Urological
5.3.7. Others
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Minimally Invasive Surgery 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 Surgery 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 Surgery Devices Demand Share Forecast, 2019-2026
7. North America Minimally Invasive Surgery 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 Surgery 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 Surgery Devices Market Size and Volume Forecast by Applications
7.4.1. Aesthetic
7.4.2. Cardiovascular
7.4.3. Gastrointestinal
7.4.4. Gynecological
7.4.5. Orthopedic
7.4.6. Urological
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 Surgery Devices Demand Share Forecast, 2019-2026
8. Latin America Minimally Invasive Surgery 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 Surgery 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 Surgery Devices Market Size and Volume Forecast by Applications
8.4.1. Aesthetic
8.4.2. Cardiovascular
8.4.3. Gastrointestinal
8.4.4. Gynecological
8.4.5. Orthopedic
8.4.6. Urological
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 Surgery Devices Demand Share Forecast, 2019-2026
9. Europe Minimally Invasive Surgery 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 Surgery 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 Surgery Devices Market Size and Volume Forecast by Applications
9.4.1. Aesthetic
9.4.2. Cardiovascular
9.4.3. Gastrointestinal
9.4.4. Gynecological
9.4.5. Orthopedic
9.4.6. Urological
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 Surgery Devices Demand Share Forecast, 2019-2026
10. Asia Pacific Minimally Invasive Surgery 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 Surgery 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 Surgery Devices Market Size and Volume Forecast by Applications
10.4.1. Aesthetic
10.4.2. Cardiovascular
10.4.3. Gastrointestinal
10.4.4. Gynecological
10.4.5. Orthopedic
10.4.6. Urological
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 Surgery Devices Demand Share Forecast, 2019-2026
11. Middle East & Africa Minimally Invasive Surgery 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 Surgery 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 Surgery Devices Market Size and Volume Forecast by Applications
11.4.1. Aesthetic
11.4.2. Cardiovascular
11.4.3. Gastrointestinal
11.4.4. Gynecological
11.4.5. Orthopedic
11.4.6. Urological
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 Surgery Devices Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Minimally Invasive Surgery Devices Market: Market Share Analysis
12.2. Minimally Invasive Surgery Devices Distributors and Customers
12.3. Minimally Invasive Surgery Devices Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Olympus Corporation
12.4.2. Smith & Nephew
12.4.3. Medtronic PLC
12.4.4. Siemens Healthineers
12.4.5. GE Healthcare
The South Korea minimally invasive surgery devices market has been segmented on the basis of
Products
- Handheld Instruments
- Guiding Devices
- Electrosurgical Devices
- Endoscopic Devices
- Laparoscopic Devices
- Monitoring and Visualization Devices
- Robotic Assisted Surgical Systems
- Ablation Devices
- Laser Based Devices
- Others
Applications
- Aesthetic
- Cardiovascular
- Gastrointestinal
- Gynecological
- Orthopedic
- Urological
- Others
Key Players
- Olympus Corporation
- Smith & Nephew
- Medtronic PLC
- Siemens Healthineers
- GE Healthcare
Key players competing in the minimally invasive surgery devices market include Olympus Corporation, Smith & Nephew, Medtronic PLC, Siemens Healthineers, and GE Healthcare.
Some of these players are using several market strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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