Albany, NY, Jan. 21, 2016 (GLOBE NEWSWIRE) -- According to a recent market research report released by Transparency Market Research, the global minimally invasive surgery market, according to a report published by Transparency Market Research. The report, titled “Minimally Invasive Surgery Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, states that exhibiting a robust CAGR of 10.50% from 2013 to 2019, the minimally invasive surgery market is anticipated to expand from a value of US$25 bn in 2012 to US$50.6 bn in 2019.
Key reasons for the double-digit growth of this market include the rise in incidences of various diseases such as kidney stone, cancer, cardiovascular diseases (CVDs) and arthritis globally that has greatly expanded the target patient population seeking MIS procedures. Similarly, rise in disposable incomes in various nations such as India, China, Brazil, Mexico and others will also augment the growth of this market since it will increase the affordability for these medical services for the patients.
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Recent Trends in the Market:
The minimally invasive surgery market is divided into three categories based on product type: surgical devices, endoscopy devices, and monitoring and visualization devices. In 2012, the surgical devices segment – comprising medical robotic systems, electrosurgical devices, and ablation devices – held the largest share of the minimally invasive surgery market and this segment is also anticipated to register the highest growth rate during the forecast period.
On the basis of type of surgery, the market for minimally invasive surgeries is categorized into cosmetic, vascular, gynecological, cardiac, urological, orthopedic, breast surgery, thoracic, bariatric, and gastrointestinal. In terms of revenue, the cardiac surgery segment held the largest share of the minimally invasive surgery market in 2012 owing to rising prevalence of cardiovascular diseases and ailments across the globe. Cosmetic surgery, on the other hand, is anticipated to develop at the highest growth rate from 2013 to 2019 thanks to rising disposable incomes and increasing demand for cosmetic surgeries
Based on geography, the global minimally invasive surgery market is segmented into Asia-Pacific, North America, Europe, and Rest of the World. Among these, North America dominates the overall market thanks to large patient population, presence of leading manufacturers, and a well-defined reimbursement policy.
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Asia Pacific, on the other hand, is estimated to emerge as the fastest growing regional segment of the minimally invasive surgery market, demonstrating a 13.30% CAGR from 2013 to 2019. This regional market is fueled by rising geriatric population, growth of medical tourism in countries such as Thailand, Malaysia, and India, increasing medical and healthcare expenditure, growing interest in the region by medical device manufacturers, and rise in disposable incomes.
The leading companies engaged in the global minimally invasive surgery market include NuVasive, Inc., Biomet, Inc., Surgical Innovations Group plc. Given Imaging Ltd., Teleflex, Inc., Philips Healthcare, Medtronic, Inc., Stryker Corporation, Varian Medical Systems, Inc., Siemens Healthcare, Abbott Laboratories, Inc., ArthroCare Corporation, Intuitive Surgical, Inc., DePuy Synthes, Inc., and GE Healthcare. These players are profiled in the minimally invasive surgery market report based on attributes such as product portfolio, business strategies, company overview, recent developments, and financial outlook.
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research