Impact Analysis of Covid-19
The complete version of the REPORT will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Summary
The global Minimally Invasive Surgical Devices Market is expected to witness a CAGR of xx% over the forecast period 2020-2026 and is expected to reach US$ xx million in 2026, from US$ xx million in 2019.
One of the major benefits of minimally invasive surgery is the shorter recovery period. There are no narcotic medications to take after the procedure, which can be dangerous and addictive. Furthermore, minimally invasive surgery allows the patient to leave the hospital on the same day. Moreover, minimally invasive surgery reduces the chances of scarring. Minimally invasive surgery is also more cost-effective, as it reduces hospital expenses and overheads. There are two types of minimally invasive thoracic surgery: robotic-assisted thoracoscopic surgery and video-assisted thoracoscopic thoracic surgery. Neither technique has a definitive advantage over the other, though there are some similarities. The benefits of both techniques include shorter hospital stays, less postoperative pain, faster recovery, and lower cost. However, minimally invasive surgery has risks and should be performed by an experienced surgeon.
Growing prevalence of chronic disease is driving growth of the global minimally invasive surgery market. According to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S. Moreover, advancement in technology coupled with the growing aging population is again fostering market growth. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.
North America is expected to gain significant growth over the forecast period owing to the growing research & development activities by key players. For instance, in June 2020, Titan Medical Inc. entered into a development and license agreement with Medtronic plc for R&D in robotic-assisted surgical technologies.
Key Developments:
- In October 2019, InMode Ltd. received Health Canada Certification for AccuTite, a minimally invasive technology that delivers RF heating
- In November 2018, Medtronic plc received CE Mark approval for the Valiant Navion thoracic stent graft system for the minimally invasive repair of blunt traumatic aortic injuries, penetrating atherosclerotic ulcers, and others
- In February 2020, Integer Holdings Corporation acquired Inomec, an Israel-based manufacturer of medical devices, including minimally invasive tools, delivery systems, metal implants, drug-device combination devices, and laser processing services
- In June 2020, Fractyl Inc. received approval from the U.S. Food and Drug Administration of an Investigational Device Exemption to begin a pivotal study of Revita DMR, a same-day, outpatient endoscopic procedure that uses heat to resurface the lining of the upper intestine in a minimally invasive, outpatient procedure, in type 2 diabetes patients treated with insulin
The Minimally Invasive Surgical Devices Market report highlights product development and growth strategies such as mergers and acquisitions adopted by market players along with SWOT Analysis, PEST and Porter’s Five Forces analyses of the Minimally Invasive Surgical Devices Market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Manufacturers covered in this Report:-
- GE Healthcare
- Siemens Healthcare
- Philips Healthcare
- Medtronic
- Stryker
- Zimmer Biomet
- Abbott
- Johnson & Johnson
- Smith & Nephew
- Boston Scientific
- Olympus
By the Product Type, the market is primarily segmented into:
- Electrocoagulation Scissors
- Claw
- Minimally Invasive Needle Clamp
- Others
By Applications, the market is segmented into:
- In-vitro Diagnosis
- Cardiology
- Orthopedics
- Ophthalmology
- Plastic Surgery
- Others
The report covers the following Regions:
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Central & South America
- Middle East & Africa
- Turkey
- GCC Countries
- Egypt
- South Africa
Objective of the Minimally Invasive Surgical Devices Market Report:
- To assess the size of the market by value and volume
- Analyze the Minimally Invasive Surgical Devices Market in terms of regions and major countries
- Highlight recent developments and trends in the market
- Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
- Determine share of the Minimally Invasive Surgical Devices Market in terms of various segments such as by product type, application, and end-user
- Offer accurate projection of the market for the forecast period using state–of–the–art tools and the current primary and secondary research approaches
- Discuss major factors that impact growth of the Minimally Invasive Surgical Devices Market
The Minimally Invasive Surgical Devices Market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Minimally Invasive Surgical Devices Market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.
For the data information by region, company, type and application, 2019 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Stakeholders:
- Material suppliers/wholesalers
- Market Distributors/traders
- Regulatory bodies
- Research organizations, and consulting firms
- Commercial research & developments (R&D)
- Trade associations and industry bodies
- Importers and exporters
- End-use industries
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