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.
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 |
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.
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.
The South Korea minimally invasive surgery devices market has been segmented on the basis of
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.
The South Korea minimally invasive surgery devices market has been segmented on the basis of
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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