According to a new report published by Allied Market Research, titled, “Minimally Invasive Surgery Market by Service Type, Condition, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global minimally invasive surgery market was valued at $60.643 billion in 2020, and is estimated to reach $94.421 billion by 2030, growing at a CAGR of 4.7% from 2021 to 2030.
Minimally invasive surgery is defined as a surgical procedure in which instruments enter the body with minimum incision. Incision is done through various instruments on skin, a body cavity or a physical opening. There are various advantages of minimal invasive surgical procedure such as decrease in postoperative pain, decrease in bleeding, and decrease in inflammatory reaction to the surgical site.
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Growth of the global minimally invasive surgery market is attributed to increase in number of surgical procedures, advancements in diagnostic instruments, and surge in demand for minimally invasive surgical procedure. In addition, rise in prevalence of chronic diseases such as cardiovascular disease, respiratory disease, kidney disease, heart disease, orthopedic, gastrointestinal, and urinalysis notably contributes toward growth of the global minimally invasive surgery market.
Minimally Invasive Surgery Market players are focused on development of advanced instruments for conducting minimal invasive surgery. For instance, in April 2021, Genesis MedTech, announced agreement with LivsMed, a medical device company, to launch laparoscopic technology and perform minimal invasive surgery and increase quality of life.
Moreover, initiatives taken by governments for development of advanced diagnostic instruments and increase in number of hospitals and clinics to conduct surgical procedures are the key factors that boost growth of the minimally invasive surgery market. Furthermore, advancements in technology in the healthcare sector and surge in geriatric population, who are more vulnerable to chronic disease propel growth of the market.
The global minimally invasive surgery market is segmented on the basis of service type, condition, end user, and region. On the basis of service type, the market is divided into laparoscopic surgery and robotic surgery. The laparoscopic surgery segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to advancements in technology in the healthcare sector, increase in demand for laparoscopic surgery, and rise in number of surgical procedures.
Comprehensive competitive analysis and profiles of major market players, such as, Apollo Hospitals Enterprise Ltd, Bedfordshire Hospitals, Circle Health Ltd, Manipal Health Enterprises Pvt Ltd, King Fahd Medical City, Mount Elizabeth Hospital, Singapore General Hospital Ltd, Stanford Healthcare, The General Hospital Corporation, and The Johns Hopkins Hospital
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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