South Korea Minimally Invasive Surgery Devices Market 2031

Segments - 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 2023 – 2031

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Vishal Golekar

Report Description

The South Korea minimally invasive surgery devices market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 8.4% during 2023–2031. 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.

South Korea Minimally Invasive Surgery Devices Market Outlook

South Korea Minimally Invasive Surgery Devices 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	2022
Historic Data	2016–2021
Forecast Period	2023–2031
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.

South Korea Minimally Invasive Surgery Devices Market Product

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.

South Korea Minimally Invasive Surgery Devices Market Application

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.

South Korea Minimally Invasive Surgery Devices Market Key Players

Table Of Content

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 (000â€™ 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