The Australia minimally invasive surgery devices market size is estimated to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to factors such as higher acceptance rate of minimally invasive procedures over traditional procedures, increasing prevalence of lifestyle-related and chronic disorders, and technological advancements in the MIS devices.
Minimally-invasive surgical devices are known as robot-assisted surgical systems, electrosurgical systems, and surgical equipment, which are used during the minimally-invasive procedure. The minimally-invasive neurosurgery device market is growing at a significant rate, due to various benefits associated with minimally-invasive procedures, such as minimal pain to the patients, less recovery time, shortened hospital stay, and high accuracy.
MIS causes less post-operative pain, and receives smaller dosages of pain killers. There are no cuts or stitches involved and patients are not required to visit the hospital, frequently. Traditional open surgeries includes long incisions that have to be made through muscle which take longer time to heal; whereas, MIS procedures involve smaller incisions leading to a quicker recovery. Moreover, the body scars involved in MIS is barely noticeable.
The Covid-19 pandemic had a positive impact on the Australia minimally invasive surgery devices market. The market observed rise in demand for invasive surgery owing to high patient turnaround volume and prevailing medical conditions due to COVID.
Market Trends, Drivers, Restraints, and Opportunities
- Higher acceptance rate of minimally invasive procedures over traditional procedures is expected to drive the market during the forecast period
- Rising prevalence of lifestyle-related and chronic disorders is anticipated to boost the MIS market.
- Higher precision of MIS over its competitor due to video-assisted equipment, which generates better and magnified images of the organs or body parts, plays a crucial role in propelling the market expansion.
- Factors such as less recovery time, shortened hospital stay, minimal pain to the patients, and high accuracy are projected to surge the market during the forecast period.
- R&D investment and technological advancement in Australia minimally invasive surgery devices market are expected to offer lucrative opportunities for the market players.
Scope of the Report
The report on Australia minimally invasive surgery devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Australia Minimally Invasive Surgery Devices Market –Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Product (Handheld Instruments, Guiding Devices, Electrosurgical Devices, Endoscopic Devices, Laproscopic, Devices, Monitoring and Visualization Devices, Ablation Devices, Laser Based Devices, Robotic Assisted Surgical Systems, and Others) and Application (Aesthetic, Cardiovascular, Gastrointestinal, Gynecological, Orthopedic, Urological, and Others)
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Medtronic Plc; Olympus Corporation; Siemens Healthcare GmbH; Smith and Nephew; and Zimmer Biomet
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Market Segment insights
The handheld instruments segment is projected to constitute a large market share
Based on product, the Australia minimally invasive surgery devices market is segregated into handheld instruments, guiding devices, electrosurgical devices, endoscopic devices, laproscopic, devices, monitoring and visualization devices, ablation devices, laser based devices, robotic assisted surgical systems, and others. The handheld instruments segment is expected to account for a key share of the market during the forecast period owing to it being the most preferred device in the market as it tends to result in greater and more consistent reports among patients, along with a greater reduction in chronic related health problems. Furthermore, increasing prevalence of chronic diseases is anticipated to boost the segment growth.
The aesthetic segment is expected to register a substantial CAGR
Based on application, the market is divided into aesthetic, cardiovascular, gastrointestinal, gynecological, orthopedic, urological, and others. The aesthetic segment accounts for a key share of the market and is estimated to propel even further over the forecast period as minimally invasive aesthetic procedures are a growing in day-to-day clinical routine and these cosmetic and aesthetic procedures are now an established interdisciplinary topic. Furthermore, as per a 2017 report by the International Society of Aesthetic Plastic Surgery, several procedures like minimally invasive facelift and fat reduction procedures have become popular in countries like Australia, where most aesthetic surgical procedures were implemented.
Segments
Segments Covered in the Report
The Australia minimally invasive surgery devices market has been segmented on the basis of:-
Product
- Handheld Instruments
- Guiding Devices
- Electrosurgical Devices
- Endoscopic Devices
- Laproscopic Devices
- Monitoring and Visualization Devices
- Ablation Devices
- Laser Based Devices
- Robotic Assisted Surgical Systems
- Others
Application
- Aesthetic
- Cardiovascular
- Gastrointestinal
- Gynecological
- Orthopedic
- Urological
- Others
Key Companies
- Medtronic Plc
- Olympus Corporation
- Siemens Healthcare GmbH
- Smith and Nephew
- Zimmer Biomet
Competitive Landscape
Key players competing in the Australia minimally invasive surgery devices market include Medtronic Plc; Olympus Corporation; Siemens Healthcare GmbH; Smith and Nephew; and Zimmer Biomet.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
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