Boston, MA -- (SBWIRE) -- 08/08/2012 -- A minimally invasive surgical (MIS) procedure refers to the surgery performed with minute incisions in the body; for instance, plaque blockages in the arteries of the heart and other vessel walls of peripheral organs, such as lower extremities, neck, kidneys, and brain. The principal advantage of these procedures over surgery is short recovery time, small scars, low risk of infection, less bleeding, and shorter hospital stays.
The MIS market is expected to grow at a fast rate with a CAGR of 8.2% and is expected to reach $35.5 billion by 2016. The surgical instruments segment commanded the larger share; i.e. 38.4%, of the global minimally invasive surgical devices market in 2011. This growth has been primarily attributed to the increased usage of these devices and instruments in MIS procedures. Devices such as guiding catheters and guidewires as well as balloons have been widely used in interventional angioplasty and peripheral extremity MIS procedures. Numerous innovations in the technologies of devices such as balloons have added to the growth in the market.
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The global minimally invasive surgical devices market is classified into handheld instruments, guiding devices, inflation systems, auxiliary devices, ultrasound, X-ray, CT & MRI imaging, visualization systems, electrosurgical devices and robotic systems. Newer innovations and rapidly evolving technologies in the field of surgical devices used in minimally invasive procedures will drive the MIS market. Imaging and diagnostic technologies such as ultrasound involving IVUS (intravascular ultrasound) and OCT (optical coherence tomography) have considerably changed the usage patterns of diagnostic techniques. These device systems show significant promise in terms of guidance in treatment and diagnosis. OCT has helped in high-resolution imaging of atherosclerotic plaque erosions that were previously not possible with imaging systems, thereby contributing to a boosting growth to the market.
North America constitutes the biggest market for the MIS devices and technologies, followed by Europe, and Asia. Pricing and reimbursement issues in certain regions of the world such as European and Asian countries have hampered the growth of the MIS devices market. Budgets constraints in hospitals force physicians to re-use accessory devices in MIS procedures, due to lack of reimbursements.
Major players in the minimally invasive surgery devices and imaging & visualization systems market include Intuitive Surgical (U.S.), GE Healthcare (U.K.), Philips (The Netherlands), Siemens (Germany) and Covidien (U.S.).
Scope of the Report
This research report categorizes the market for minimally invasive surgical devices and imaging systems into the following segments:
Minimally Invasive Surgery - Surgical devices and instruments, electrosurgical devices, imaging and visualization systems, robotic-assisted surgery systems
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