The global minimally invasive surgery market is expected to grow at a compound annual growth rate of 10.5 percent between 2013 and 2019, based on a Transparency Market Research report.
Here are seven highlights:
1. The global minimally invasive surgery market will likely be worth $50.6 billion by 2019, up from $25 billion in 2012.
2. Patients seeking more comfort in surgical processes will serve as the primary market driver.
3. Additionally, increase in the geriatric population and in diseases requiring surgeries will boost the market.
4. The costliness of minimally invasive surgeries will hinder market growth, however. Also, the United States may see stunted market growth due to the sale of medical devices being impacted by excise duty.
5. The orthopedics segment will see a high growth rate as arthritis cases grow in prevalence.
6. By product type, surgical devices will see the highest growth rate, followed by endoscopy devices.
7. Although North America accounted for the highest revenue in the market, the Asia-Pacific region will see a CAGR of 13.3 percent from 2013 to 2019.