Transparency Market Research includes new market research report "Latin America Minimally Invasive Surgery Market - Industry Analysis, Trends and Forecast, 2014 - 2020" to its huge collection of research reports.
Albany, NY -- (SBWIRE) -- 04/06/2015 -- According to a recent market study published by Transparency Market Research (TMR), the minimally invasive surgery market in Latin America had reached a value of US$925 million in 2013. It is estimated that this market will rise at a 10.8% compound annual growth rate during the period of 2014 to 2020 and will reach a value of US$1,927.4 million by the end of the forecast period.The research report provides a comprehensive study of the Latin America minimally invasive surgery Market with a quantitative as well as qualitative analysis of the industry. This report is titled "Latin America Minimally Invasive Surgery Market - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020".
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A minimally invasive surgery refers to an operation performed with the minimum necessary amount of incisions on the patient's body utilizing technically advanced devices. Currently, the Latin America minimally invasive surgery industry is growing at a faster pace, as minimally invasive surgery procedures are becoming popular all over the region. A minimally invasive surgery does not need the patient to stay for long in the hospital and provides less discomfort as compared to a conventional surgery. Apart from this, costs of minimally invasive surgeries are also much less as compared to traditional ones.
On the basis of product types, the biggest share in the market for minimally invasive surgery across Latin America was held by surgical devices in 2013. Extensive usage of advanced surgical devices while performing most types of minimally invasive surgery is the main reason for the dominance of this segment. The surgical medical robots segment is expected to exhibit the maximum growth rate within the surgical devices market during the forecast period.In 2013, cardiac surgery generated the highest revenue in the Latin America minimally invasive surgery market according to the types of surgery. However, the market for cardiac surgery is expected to be declining due to the increase in the demand for cosmetic surgeries in the Mexican and Brazilian markets. The markets for cosmetic and orthopedic surgeries are estimated to register the highest and second highest growth rate, respectively, during the forecast period.
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Mexico and Brazil collectively occupied more than 50% of the total Latin America minimally invasive surgery market in 2013. In addition to this, during the period of 2014 to 2020, Mexico is expected to show the fastest growth in the minimally invasive surgery market across Latin America. However, the Brazil market is not to be left behind. According to the International Society of Aesthetic Plastic Surgery, Brazil surpassed the U.S in 2013 in the number of cosmetic surgeries performed in the country annually; between 2009 and 2012, the number of plastic surgery procedures rose by 120% in Brazil.
The major participants operating in the Latin American minimally invasive surgery market are Philips Healthcare, Biomet, Inc., DePuy Synthes, Inc., Teleflex, Covidien plc, Medtronic, Inc., GE Healthcare, Siemens Healthcare, Varian Medical Systems, Inc., Abbott Laboratories, Inc., and Stryker Corporation. The technically advanced product portfolios of these companies have helped them grab major shares in the minimally invasive surgery market across Latin America.
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