The minimally invasive surgical instruments market is anticipated to hit $18.14 billion by 2021, according to a MarketsandMarkets report.
Here are six observations:
1. The MIS instruments market will likely grow at a compound annual growth rate of 10.2 percent.
2. The consumer demand for MIS procedures over traditional surgeries and an increase in the number of procedures in the geriatric population will boost market growth.
3. The orthopedic segment captured the largest market share in 2015, due to an increase in bone conditions and spine injuries.
4. In 2015, private hospitals and surgical clinics accounted for the largest MIS instrument market share.
5. North America dominated the market in 2015, but the Asia Pacific region will likely see the highest growth rate during the forecast period, partly due to an increasing awareness of advanced surgical instruments and techniques.
6. Medtronic, Ethicon, Aesculap, Stryker and Smith & Nephew dominate the MIS instruments market. ConMed, Abbott Laboratories, Applied Biomedical Resources, Microline Surgical and Zimmer Biomet are also active in the space.