Minimally Invasive Surgical Instruments, Imaging & Visualization Systems and Medical Robotics Market (2011 - 2016)

Hyderabad, Andhra Pradesh -- (SBWIRE) -- 08/31/2012 -- 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. MIS market is expected to grow at a faster rate with a CAGR of 8.2% and is expected to reach $35.5 billion by 2016.

Surgical devices represent the largest segment in MIS product market. The global market for surgical devices and instruments was valued at $9.2 billion in 2011 and is expected to reach $11 billion by 2016, with a CAGR of 3.6% during the forecast period. 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 procedures as well as in peripheral extremity MIS procedures. Numerous innovations in the technologies of devices such as balloons have added to the growth in the market.

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. The principal advantage of minimally invasive endovascular procedures over surgery is short recovery time, short length scars, low risk of infection, bleeding, and shorter hospital stays.

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.

The worldwide market for minimally invasive surgery devices and imaging & visualization systems including robotic systems is principally commanded by major multinationals, such as Intuitive Surgical, GE Healthcare, Philips, Siemens and Covidien.

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