North America Minimally Invasive Surgery Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Minimally Invasive Surgery Devices Market Analysis
North America minimally invasive surgical devices market is being driven by the growing burden of chronic diseases leading to the surgical interventions and high adoption of minimally invasive devices.
According to the data published by Centers for Disease Control and Prevention (CDC, 2018), there were 32.3 million of visits to physician offices, with diseases of the digestive system as the primary diagnosis in the United States. With the increase in the government's continuous effort to improve the health of people, the number of gastrointestinal surgeries is bound to rise, which, in turn, may improve the scope for minimally-invasive devices meant for gastrointestinal surgery. Similarly, about Nearly 18 million people in the United States underwent cosmetic surgical and minimally invasive procedures in 2018, states the ASPS. There has been a rise in the number of procedures in recent years, with over a quarter more million procedures performed in 2018 than 2017.
North America Minimally Invasive Surgery Devices Market Trends
This section covers the major market trends shaping the North America Minimally Invasive Devices market according to our research experts:
Gastrointestinal Segment Expected to Have Notable Growth Over the Period.
The main factors driving the growth of the gastrointestinal segment is owing to the rising incidence of gastrointestinal diseases in the young, adult, and geriatric groups, in the United States. Dyspepsia, irritable-bowel syndrome and constipation are some of the examples of gastrointestinal disorders.
According to the International Foundation for Gastrointestinal Disorders, estimated that are approximately 2.4 to 3.5 million annual physician visits for irritable bowel syndrome (IBS) in the United States alone. The irritable bowel syndrome (IBS) is the most common disorder diagnosed by gastroenterologists, which accounts for up to 12% of total visits to primary care providers.
Moreover, with the increase in the government’s continuous effort to improve the health of people, the number of gastrointestinal surgeries is bound to rise, which, in turn, may improve the scope for minimally-invasive devices meant for gastrointestinal surgery.
North America Minimally Invasive Surgery Devices Industry Overview
The market studied is moderately consolidated, owing to the presence of a few key players in the market. The companies are focusing on the technological advancement of devices, in order to gain significant market share. Some of the market players are Abbott Laboratories, GE Healthcare, Intuitive Surgical Inc., Koninklijke Philips NV, Medtronic PLC, Olympus Corporation, Siemens Healthineers, Smith & Nephew, Stryker Corporation, and Zimmer Biomet.
North America Minimally Invasive Surgery Devices Market Leaders
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Medtronic Plc
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Smith & Nephew
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Zimmer Biomet
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Abbott Laboratories
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Intuitive Surgical Inc.
*Disclaimer: Major Players sorted in no particular order
North America Minimally Invasive Surgery Devices Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Higher Acceptance Rate of Minimally-invasive Surgeries over Traditional Surgeries
- 4.2.2 Increasing Prevalence of Lifestyle-related and Chronic Disorders
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4.3 Market Restraints
- 4.3.1 High Cost of Advanced Devices
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Products
- 5.1.1 Handheld Instruments
- 5.1.2 Guiding Devices
- 5.1.2.1 Guiding Catheters
- 5.1.2.2 Guidewires
- 5.1.3 Electrosurgical Devices
- 5.1.4 Endoscopic Devices
- 5.1.5 Laproscopic Devices
- 5.1.6 Monitoring and Visualization Devices
- 5.1.7 Robotic Assisted Surgical Systems
- 5.1.8 Ablation Devices
- 5.1.9 Laser Based Devices
- 5.1.10 Other MIS Devices
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5.2 By Application
- 5.2.1 Aesthetic
- 5.2.2 Cardiovascular
- 5.2.3 Gastrointestinal
- 5.2.4 Gynecological
- 5.2.5 Orthopedic
- 5.2.6 Urological
- 5.2.7 Other Applications
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Stryker Corporation
- 6.1.2 Siemens Healthineers
- 6.1.3 Abbott Laboratories
- 6.1.4 GE Healthcare
- 6.1.5 Koninklijke Philips NV
- 6.1.6 Intuitive Surgical Inc.
- 6.1.7 Olympus Corporation
- 6.1.8 Smith & Nephew
- 6.1.9 Medtronic PLC
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America 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 minimally-invasive neurosurgery device market is growing at a significant rate, due to various benefits associated with minimally-invasive procedures, such as less recovery time, minimal pain to the patients, shortened hospital stay, and high accuracy.
North America Minimally Invasive Surgery Devices Market Research FAQs
What is the current North America Minimally Invasive Surgery Devices Market size?
The North America Minimally Invasive Surgery Devices Market is projected to register a CAGR of 8.5% during the forecast period (2024-2029)
Who are the key players in North America Minimally Invasive Surgery Devices Market?
Medtronic Plc, Smith & Nephew, Zimmer Biomet, Abbott Laboratories and Intuitive Surgical Inc. are the major companies operating in the North America Minimally Invasive Surgery Devices Market.
What years does this North America Minimally Invasive Surgery Devices Market cover?
The report covers the North America Minimally Invasive Surgery Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Minimally Invasive Surgery Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Minimally Invasive Surgery Devices Industry Report
Statistics for the 2024 North America Minimally Invasive Surgery Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Minimally Invasive Surgery Devices analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
