Transparency Market Research released a new report identifying key trends in the global minimally invasive surgery market.
Here are seven key trends:
1. The market is expected to grow at a compound annual growth rate of 10.5 percent between 2013 and 2019.
2. The market was valued at $25.03 billion in 2012.
3. It is forecasted to reach $50.60 billion by 2019.
4. Factors such as rising per capita expenditure on healthcare, technological developments and a growing global geriatric population are driving market growth.
5. In 2012, North America held the dominant position in the overall minimally invasive surgery market and the surgical devices segment held the dominant segment position.
6. Between 2013 and 2019, the Asia Pacific region will record highest rate of market growth.
7. Lack of reimbursement, high costs of minimally invasive surgeries and the imposition of excise duty on the sale of medical devices in the American market will hamper the growth of the global minimally invasive surgery market in the future.