The worldwide market for minimally invasive surgery has been growing at a rapid pace. This growth can be attributed to an increasing awareness among patients about single-incision surgical procedures. Surgical technology has grown by leaps and bounds and as a result of these factors, the minimally invasive surgery (MIS) market is projected to touch a market value of USD 90 billion by the end of 2015. Market analysts estimate that this sector will grow at a CAGR of 9.8% between 2010 and 2015.
Minimally invasive surgery can be of several types such as: orthopedic, spinal surgery, joint replacement, thoracic, gynecological, gastrointestinal, urological, breast surgery, bariatric and vascular surgery, and so on.
Endoscopic devices are a key product in this sector, accounting for nearly 45% of the minimally invasive surgery devices market as of 2010. Endoscopes are used extensively in plethora of surgeries, making them integral to this market.
Laparoscopy is yet another area within the MIS market that is fast gaining prominence. This segment comprised nearly 30% of the MIS applications market. Today, capsule endoscopes and surgical robots are buzzwords in the MIS arena. These have given birth to new trends that are likely to change the landscape of the MIS market over the next few years.
From the geographical perspective, the United States holds the highest market share in the MIS market at 65%. The U.S. MIS market is primarily driven by its aging population that demands higher healthcare facilities.
Competition in this sector continues to remain rife given that players are vying to reduce the size of incisions during surgeries. Multimillion dollar investments are being made in conducting trials and R&D activities.
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