In 2022, the minimally invasive surgical instruments market was worth around USD 21,312.4 million, and it is projected to advance at a 7.2% CAGR from 2022 to 2030, hitting USD 37,155.7 million by 2030, according to P&S Intelligence.
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This growth can be credited to the increasing research and development expenditure in the healthcare industry, the increasing occurrence of chronic syndromes, the high acceptance rate of progressive innovative technology in healthcare, and the increasing load of non-communicable illnesses.
In 2022, the handheld instruments category held the largest market share of approximately 40%, and the category is also projected to continue to be dominance in the future as well. This is mainly because of the growing acceptance of these instruments for several MIS operations, the growing adoption of robotic operations, and the increasing preference of doctors for these instruments.
In 2022, North America dominated the minimally invasive surgical instruments market, with the largest revenue share of approximately 40%, and it is also projected to continue with the dominance in the future as well.
This can be ascribed to the existence of deep-rooted healthcare systems, the surge in the occurrence of illnesses, including orthopedic and cardiac disorders, a higher acceptance rate for technologically progressive devices, and a moving preference towards outpatient operations.
Hence, the increasing research and development expenditure in the healthcare industry, increasing occurrence of chronic syndromes, and the high acceptance rate of progressive innovative technology in the healthcare sector are the major factors propelling the minimally invasive surgical instruments industry.
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