The last few years have witnessed an increase in patient preference for medical surgeries that involve fewer incisions. As a result, the demand for visualization instruments, which aid in achieving improved patient outcomes and help healthcare personnel perform examinations efficiently, has increased, thereby driving the growth of the global visualization instruments for minimally invasive surgery (MIS) market. Moreover, the leading market players are investing in research and development to introduce improved visualization systems that can meet the requirements of healthcare infrastructure facilities such as hospitals and clinics.
The increasing demand for visualization systems for complex surgical procedures, growing demand for minimally invasive surgeries, and rising prevalence of chronic diseases are expected to help the global visualization instruments for MIS market register a CAGR of 7.2% between 2022 and 2031 and reach a value of USD 21 billion by 2031. The increasing usage of robotics while performing medical procedures for greater precision and reduced human intervention are anticipated to further fuel market growth during the forecast period.
These are the latest findings of Transparency Market Research (Wilmington, DE, USA), a global market research company.
Based on product type, the visualization systems segment accounted for the largest share of the visualization instruments for MIS market in 2021 and is expected to maintain its dominant position during the forecast period. The rise in technological advancements in visualization systems for minimally invasive surgeries aimed at improving imaging capacities, coupled with the launch of a growing number of new visualization systems is contributing to the segment’s growth.
Based on consumables & accessories, the endoscopy MIS segment accounted for a major share of the visualization instruments for MIS market in 2021 due to an increasing number of endoscopy procedures and rising adoption of visualization instruments and MIS instruments in endoscopy medical procedures, worldwide. Based on end-use, the hospital end-use segment held the largest share of the visualization instruments for MIS market in 2021, due to an increasing number of minimally invasive surgeries performed in hospitals, as well as a rise in number of hospitals globally.
Geographically, Europe accounted for major share of the visualization instruments for MIS market in 2021 due to increasing demand for minimally invasive surgeries and rising prevalence of chronic diseases in European countries such as the U.K. and Germany. The visualization instruments for MIS market in Latin America is expected to witness significant growth during the forecast period owing to its increasing geriatric population and growing awareness about minimally invasive surgeries in Latin American countries such as Brazil and Argentina.
Transparency Market Research