Market Size of United Kingdom 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 | 5.90 % |
| 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?
United Kingdom Minimally Invasive Surgery Devices Market Analysis
The UK market for minimally invasive surgery devices is expected to register a CAGR of 5.9% over the forecast period.
The pandemic has significantly impacted the market studied. The number of visits to hospitals and clinics for medical and cosmetic purposes decreased, leading to a decrease in the demand for minimally invasive devices. In the United Kingdom, device manufacturers recorded a significant decrease in their revenue compared to growth rates in the past decade. Companies are taking significant measures to combat the impact of COVID-19. In February 2021, an article published in the BMJ journal stated that NHS England show that the number of patients awaiting treatment hit a record high of 4.46 million in the past year. Thus, initial restrictions adversely impacted the market growth. However, with the ease of lockdowns, the pending surgeries have started to undergo which is expected to increase the demand for minimally invasive surgeries in the country thus increasing market growth.
The major factors for the growth of the market include the increasing prevalence of lifestyle-related and chronic disorders, along with the rising geriatric population in the country and technological advancements. The growing burden of chronic diseases, along with the increasing technological advancements in the United Kingdom, is likely to lead to increased demand for minimally invasive surgery devices. As per the 'British Association of Aesthetic Plastic Surgeons (BAAPS)' report released in February 2021, approximately 15 thousand cosmetic surgeries were carried out in the United Kingdom in 2021. According to the same source, breast augmentation was the most popular cosmetic surgery among women in the country in the past year, with over 4.6 thousand treatments, followed by breast reduction with over 3.1 thousand procedures. In addition, with 413 operations performed in the past year, rhinoplasty was the most popular surgery among men in the same year. Such instances imply greater demand for minimally invasive surgeries in the country, bolstering the market's growth. Thus, owing to the above-mentioned factors, the demand for minimally invasive surgical devices is expected to increase during the forecast period.
However, the shortage of experienced professionals is expected to hinder market growth.
United Kingdom Minimally Invasive Surgery Devices Industry Segmentation
Minimally-invasive surgical devices refer to electrosurgical systems, robot-assisted surgical systems, and surgical equipment used during minimally-invasive procedures.
The UK market for minimally invasive surgery devices 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 values (USD million) for the above segments.
| By Products | |
| Handheld Instruments | |
| Guiding Devices | |
| Electrosurgical Devices | |
| Endoscopic Devices | |
| Laproscopic Devices | |
| Monitoring and Visualization Devices | |
| Robotic Assisted Surgical Systems | |
| Ablation Devices | |
| Laser Based Devices | |
| Other MIS Devices |
| By Application | |
| Aesthetic | |
| Cardiovascular | |
| Gastrointestinal | |
| Gynecological | |
| Orthopedic | |
| Urological | |
| Other Applications |
United Kingdom Minimally Invasive Surgery Devices Market Size Summary
The UK minimally invasive surgery devices market is poised for growth, driven by factors such as the increasing prevalence of lifestyle-related and chronic disorders, a rising geriatric population, and technological advancements. The market experienced a setback due to the pandemic, which led to a decrease in hospital visits and a subsequent drop in demand for these devices. However, as lockdowns eased and pending surgeries resumed, the demand for minimally invasive surgeries began to rise, contributing to market recovery. The market is further bolstered by the growing burden of chronic diseases and the popularity of cosmetic procedures, as evidenced by reports from the British Association of Aesthetic Plastic Surgeons. Despite challenges like a shortage of experienced professionals, government support and initiatives by key market players are expected to drive market expansion.
The market landscape is moderately consolidated, with key players such as Stryker Corporation, Medtronic PLC, Olympus Corporation, Abbott Laboratories, and Zimmer Biomet leading the charge. Partnerships and technological innovations, such as the introduction of robotic-assisted surgical systems, are significant contributors to market growth. The increasing incidence of gastrointestinal and cardiac diseases, along with obesity-related conditions, is driving demand for surgical interventions. Government grants and projects like CUOREMA are promoting industry development, while initiatives by organizations like the Royal College of Surgeons of England and CMR Surgical are enhancing the adoption of advanced surgical technologies. These factors collectively indicate a positive outlook for the minimally invasive surgery devices market in the UK over the forecast period.
United Kingdom 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 Increasing Prevalence of Lifestyle-related and Chronic Disorders
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1.2.2 Technological Advancements
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1.3 Market Restraints
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1.3.1 Shortage of Experienced Professionals
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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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 Products
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2.1.1 Handheld Instruments
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2.1.2 Guiding Devices
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2.1.3 Electrosurgical Devices
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2.1.4 Endoscopic Devices
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2.1.5 Laproscopic Devices
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2.1.6 Monitoring and Visualization Devices
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2.1.7 Robotic Assisted Surgical Systems
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2.1.8 Ablation Devices
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2.1.9 Laser Based Devices
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2.1.10 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 Gastrointestinal
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2.2.4 Gynecological
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2.2.5 Orthopedic
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2.2.6 Urological
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2.2.7 Other Applications
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United Kingdom Minimally Invasive Surgery Devices Market Size FAQs
What is the current United Kingdom Minimally Invasive Surgery Devices Market size?
The United Kingdom Minimally Invasive Surgery Devices Market is projected to register a CAGR of 5.90% during the forecast period (2024-2029)
Who are the key players in United Kingdom Minimally Invasive Surgery Devices Market?
Stryker Corporation, Medtronic PLC, Olympus Corporation, Abbott Laboratories and Zimmer Biomet are the major companies operating in the United Kingdom Minimally Invasive Surgery Devices Market.
