Australia Minimally Invasive Surgery Devices Market Size (2024 - 2029)

Australia Minimally Invasive Surgery Devices Market Analysis

The Australian minimally invasive surgery (MIS) devices market is expected to witness a CAGR of 5.2% over the forecast period.

The COVID-19 pandemic impacted the studied market significantly. Due to restricted hospital visits and delayed surgeries, the demand for MIS devices declined and hampered the market growth during the initial phase of the pandemic. For example, as per an article published in IOVS journal in June 2022, during the initial phases of the pandemic, the rate of ophthalmic surgical services decreased with restrictions, largely for non-critical conditions. The study also showed that cataract surgery with minimally invasive glaucoma surgical device insertion decreased by 71%. Thus, initially, the pandemic had an adverse impact on the studied market. Currently, the surgeries are operating normally, like in the pre-pandemic days in Australia. As MIS decreased hospital stays, it decreased the chances of COVID-19 co-infection during the limited hospital stays. Hence, the demand for MIS increased, further contributing to the MIS devices demand generation in the country. In addition, the market growth is stabilizing in the current scenario after COVID-19 as the worldwide restrictions have eased down and surgeries have been resumed.

Factors such as an increasing prevalence of lifestyle-related and chronic disorders and a rising preference for minimally invasive procedures are the major contributors to the market's growth.

Lifestyle-related diseases have become common in Australia, and arthritis, asthma, back pain, cancer, cardiovascular disease, chronic obstructive pulmonary disease, diabetes, and mental health conditions are the major conditions that are commonly seen among the target population. According to a report published by AIHW in October 2022, approximately 162,163 new cancer cases were diagnosed in 2022, which increased from 158,530 new cancer cases that were diagnosed in 2021. As MIS provides benefits to patients such as less postoperative pain, fewer operative and postoperative complications, shortened hospital stay, faster recovery times, minimal stress on the immune system, and smaller incisions, the demand for MIS surgeries increases for the treatment of cancer and other lifestyle-related chronic diseases, driving the demand for MIS devices.

Furthermore, global and regional market players are developing and innovating advanced products in the country. For instance, in April 2022, Nova Eye Medical Limited, a medical technology company headquartered in Australia and committed to advanced ophthalmic treatment technologies and devices, launched its next-generation canaloplasty device, iTrack Advance, in selected markets. Dr. Nathan Kerr, an authority on minimally invasive glaucoma surgery and head of glaucoma surgical trials at the Centre for Eye Research Australia, performed the world's first surgical case with the iTrack Advance following the launch of the product. Thus, such activities are anticipated to create opportunities for MIS device innovation and development in Australia, thereby driving market growth over the analysis period.

Therefore, owing to the abovementioned factors, the market studied is expected to witness growth. However, the lack of skilled professionals and the high cost of MIS surgeries and devices are expected to hinder market growth over the studied period.

Australia Minimally Invasive Surgery Devices Industry Segmentation

As per the scope of this report, minimally invasive surgical devices refer to electrosurgical systems, robot-assisted surgical systems, and surgical equipment which are used during minimally invasive procedures. The Australian Minimally Invasive Surgery Devices Market is Segmented by Product (Handheld Instruments, Guiding Devices, Electrosurgical Devices, Endoscopic Devices, Laparoscopic Devices, Monitoring and Visualization Devices, Robotic Assisted Surgical Systems, Ablation Devices, Laser Based Devices, and Other MIS Devices), Application (Aesthetic, Cardiovascular, Gastrointestinal, Gynecological, Orthopedic, Urological, and Other Applications). The report offers the value (in USD million) for the above segments.