(PharmaNewsWire.Com, September 08, 2017 ) According to the report Asia Pacific minimally invasive surgical instruments Market, published by Market Data Forecast, the Market is expected to reach USD 3.28 billion by 2021 from USD 1.84 billion in 2016, growing at a CAGR of 12.20% for the next five years 2016-2021. Minimally invasive surgical procedures involve the use of surgery instruments (such as arthroscopic or laparoscopic devices) and remote controlled instruments to monitor the surgery through large display panel or endoscopy. Minimally invasive procedures eliminate large incisions & infections, reduce the long time hospital admission, and promote the early recovery. Currently, the utilization of minimally invasive surgical instruments has been increased. Some of the minimally invasive surgical instruments include, visualizing scope, stents, sutures, dilators, electrosurgical instruments, balloon inflation devices, guiding catheters, trocars, rasps, and cannulas, among others.
Presence of huge population undergoing surgeries, increasing number of geriatric population, rising awareness among the physicians about advanced surgical technologies & instruments, increasing demand for minimally invasive surgical instruments, and growing government initiative to reduce the healthcare expenditure are driving the growth of minimally invasive surgical instruments market in Asia-Pacific. However, high cost of advanced surgery technologies, scarcity of minimal invasive surgery professionals, and low adoption of advanced technologies are restraining the growth of minimally invasive surgical instruments market in Asia-Pacific.
Asia-Pacific minimally invasive surgical instruments market is segmented based on the product, application, and end users. Based on product, the market is further sub-segmented as handheld instruments, electrosurgical devices, inflation systems, guiding devices, cutter instruments, and auxiliary instruments. Handheld instruments segment is estimated to command the largest share of Asia-Pacific minimally invasive surgical instruments market by product in 2016. The electrosurgical devices segment is expected to grow at the highest CAGR during the forecast period 2016-2021.
Application segment is further categorized as orthopedic, gastrointestinal, cardiothoracic, urological, cosmetic, gynecology, vascular, and other applications. The orthopedic segment is estimated to command the largest share of Asia-Pacific minimally invasive surgical instruments market by application in 2016. Based on end users, the market is segmented as private hospitals & surgical clinics, government hospitals and academic & research institutes. The private hospitals & surgical clinics segment is estimated to account for the largest share of Asia-Pacific minimally invasive surgical instruments market by end users in 2016.
On the basis of geographical areas, Asia-Pacific minimally invasive surgical instruments market is segmented as Japan, China, and India. The key players in minimally invasive surgical instruments market such as, Medtronic plc (Ireland), Ethicon, Inc. (U.S.), Aesculap, Inc. (Germany), Stryker Corporation (U.S.), Smith & Nephew (U.K.), ConMed Corporation (U.S.), Abbott Laboratories (U.S.), Applied Biomedical Resources Corporation (U.S.), Microline Surgical (Japan), and Zimmer Biomet (U.S.).
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