Market Size of France Minimally Invasive Surgery Devices Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 5.60 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
France Minimally Invasive Surgery Devices Market Analysis
The France minimally invasive surgery devices market is expected to witness a 5.6% CAGR during the forecast period.
- The COVID-19 pandemic significantly impacted France's minimally invasive surgery devices market during the initial phases as the surgeries got delayed due to the lockdown, and the import and export of medical devices, including minimally invasive surgery devices, were restricted in the country. However, the sector has been recovering well since the restrictions were lifted. Over the last two years, the market recovery has been led by an increase in minimally invasive surgery device sales, new product launches, and surgical procedures.
- The major factors expected to drive the market growth are the rising number of surgical procedures, the burden of chronic diseases in the country, and technological advancement in the products. For instance, according to the International Agency for Research on Cancer (IARC) estimations, cancer incidence is estimated at 579,388 by 2040 in France. Additionally, demand for minimally invasive operations is routine for many illness areas. Hence, as chronic diseases such as cancer increase, the chance of adopting minimally invasive devices increases, thereby boosting the market growth.
- For instance, a study published in July 2022 by researchers in France stated that median arcuate ligament syndrome (MALS) relief with robot-assisted laparoscopy was found to be safe and provides satisfactory outcomes in symptom relief and coeliac artery (CA) compression release. Therefore, considering the improved results of minimally invasive surgery performed in France is projected to increase demand for minimally invasive surgery equipment and fuel market expansion during the forecast period.
- Moreover, the benefits associated with minimally invasive surgeries also increase the adoption rate of minimally invasive surgery devices. As minimal cuts or stitches are involved, the hospital stay is relatively shorter, and patients need not visit the hospital frequently. Traditional open surgeries involve long incisions made through the muscles, and these muscles take a considerable amount of time to heal. In contrast, minimally invasive surgery procedures involve smaller incisions, leading to a quicker recovery.
- Additionally, product launches, mergers, acquisitions, and related conferences in minimally invasive surgery devices are likely to boost the market growth. For instance, during EuroPCR 2022 in May 2022, Corindus, a manufacturer of precision vascular robotics, displayed the CorPath GRX System, a medical device that has received CE and FDA clearance for robotic-assisted coronary procedures. conducted in France. Such product demonstrations increase the product awareness of minimally invasive surgery systems in France, thereby driving the studied market's growth over the forecast period.
- Hence, considering the rising number of surgical procedures along with the burden of chronic diseases, France's minimally invasive surgery devices market is likely to witness growth over the forecast period. However, the need for more skilled professionals may limit the market growth during the forecast period.
France 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 the minimally-invasive procedure.
The France minimally invasive surgery devices market is segmented by product (handheld instruments, monitoring and visualization devices, robotic assisted surgical systems, ablation devices, other mis devices) and application (aesthetic, cardiovascular, gynecological and urological, orthopedic, other applications).
The report offers the value (in USD million) for the above segments.
By Product | |
Handheld Instruments | |
Monitoring and Visualization Devices | |
Robotic Assisted Surgical Systems | |
Ablation Devices | |
Other MIS Devices |
By Application | |
Aesthetic | |
Cardiovascular | |
Gynecological and Urological | |
Orthopedic | |
Other Applications |
France Minimally Invasive Surgery Devices Market Size Summary
The France minimally invasive surgery devices market is poised for significant growth, driven by an increasing number of surgical procedures and advancements in technology. The market experienced initial setbacks due to the COVID-19 pandemic, which caused delays in surgeries and restrictions on the import and export of medical devices. However, the sector has shown resilience and is recovering well, with a surge in device sales and surgical procedures. The rising incidence of chronic diseases, such as cancer, is expected to further propel market growth, as minimally invasive surgeries become more routine for various medical conditions. The benefits of these surgeries, including shorter hospital stays and quicker recovery times, are also contributing to the increased adoption of minimally invasive devices. Additionally, product launches, mergers, and acquisitions in the sector are anticipated to enhance market expansion.
The orthopedic segment of the market is expected to grow due to the increasing geriatric population and the rise in road accidents, which necessitate orthopedic surgeries. Collaborations and technological advancements in robotic-assisted surgeries are also set to boost the market. The acceptance of robotic surgery, which offers greater control and precision, is on the rise, particularly in complex procedures like radical prostatectomies and cardiovascular surgeries. The demand for robotic-assisted systems is anticipated to increase with the growing number of cancer cases, further driving market growth. The competitive landscape is characterized by the presence of both global and regional players, with companies like Terumo Corporation, Karl Storz GmbH, and Olympus Corporation leading the market.
France Minimally Invasive Surgery Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Higher Acceptance Rate of Minimally-Invasive Surgeries Over Traditional Surgeries in Country
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1.2.2 Increasing Prevalence of Lifestyle-Related and Chronic Disorders
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1.3 Market Restraints
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1.3.1 Lack of Skilled Professionals
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Product
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2.1.1 Handheld Instruments
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2.1.2 Monitoring and Visualization Devices
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2.1.3 Robotic Assisted Surgical Systems
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2.1.4 Ablation Devices
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2.1.5 Other MIS Devices
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2.2 By Application
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2.2.1 Aesthetic
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2.2.2 Cardiovascular
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2.2.3 Gynecological and Urological
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2.2.4 Orthopedic
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2.2.5 Other Applications
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France Minimally Invasive Surgery Devices Market Size FAQs
What is the current France Minimally Invasive Surgery Devices Market size?
The France Minimally Invasive Surgery Devices Market is projected to register a CAGR of 5.60% during the forecast period (2024-2029)
Who are the key players in France Minimally Invasive Surgery Devices Market?
Karl Storz GmbH, Terumo Corporation, Drägerwerk AG & Co. KGaA, Olympus Corporation and General Electric Company (GE Healthcare) are the major companies operating in the France Minimally Invasive Surgery Devices Market.