The global minimally invasive gastrointestinal surgical systems market was valued at USD 5.42 billion in 2021 and is projected to reach USD 9.92 billion by 2030, registering a CAGR of 6.95% from 2022 to 2030
Through a small incision, minimally invasive neurosurgery is typically utilised to treat illnesses affecting many regions of the brain, spinal cord, or skull base. The minimally invasive techniques are gaining popularity over traditional surgical procedures because they need less recovery time, inflict minimum trauma, and require shorter hospital stays.
The rise in the benefits of minimally invasive surgeries over traditional open surgeries is a key factor driving the market growth. The rise in the growth of minimally invasive surgery devices, the rise in healthcare expenditures, and the rise in healthcare outcomes are also major factors driving the market for minimally invasive gastrointestinal surgical systems. In addition, a rise in public-private initiatives to support research activities on minimally invasive surgical instruments and a rise in research and development activities in the market will generate new opportunities for the market for minimally invasive gastrointestinal surgical systems during the period from 2022 to 2030.
Increasing investments are being made in the development of healthcare infrastructure, resulting in accumulating evidence of efficient and promising outcomes in surgical support. Consequently, this creates significant growth prospects for the market for minimally invasive gastrointestinal surgical systems. In addition, a large number of new companies are creating MIS surgical systems. Global sales of minimally invasive gastrointestinal surgical systems have increased significantly as a result of the aforementioned considerations.
In the growing and emerging economies of Asia-Pacific, Africa, and the Middle East, a lack of qualified personnel is impeding market expansion.
The government has taken numerous efforts and invested in universities and laboratories, which is anticipated to improve the situation in the near future.
The global market for minimally invasive gastrointestinal surgical systems is comprised of various large and small manufacturers and suppliers. With the increasing acceptance of technology in healthcare, there are several chances for manufacturers to develop their services and create a solid footing in the industry.
The market is split by region into North America, Europe, Asia-Pacific, and LAMEA.
The minimally invasive gastrointestinal surgical systems market report covers the U.S., Canada, and Mexico in North America, Germany, France, the U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Saudi Arabia, United Arab Emirates, South Africa, Egypt, and Israel in the Middle East and
North America dominates the market for minimally invasive gastrointestinal surgical systems because of an increase in the geriatric population, a rise in the growth of minimally invasive surgery equipment, an increase in healthcare expenditure, and an increase in healthcare results in this region. This region is likewise anticipated to experience a significant growth rate during the projected timeframe.
The major players covered in the minimally invasive gastrointestinal surgical systems market report are Medtronic, Medical Devices Business Services, Inc., Stryker, Smith & Nephew, Abbott, Applied Biomedical, LLC, California Resources Corporation, Microline Surgical, Zimmer Biomet, B. Braun Melsungen AG, CONMED Corporation, HOYA Corporation, Applied Medical Resources Corporation, Aesculap, Inc., Johnson & Johnson Services, Inc., Karl Storz Gmbh & Co. Kg, Novatract Surgical Inc., REMA Medizintechnik GmbH, Teleflex Incorporated, Boston Scientific Corporation and Given Imagin Ltd among other domestic and global players.
Many market participants have turned to a range of strategies, such as the development of new products and the expansion of their respective businesses, in order to maintain their footing in the face of the intense rivalry that exists in the market.