The minimally invasive surgery market has been forecast to reach a market value of $35.5 billion by the end of 2016, growing at a compound annual growth rate (CAGR) of 8.2%.
Growth within the minimally invasive surgery market is being fuelled by a number of factors including, newer innovations, and the rapidly evolving technologies in the field of surgical devices used in minimally invasive procedures.
A minimally invasive surgical procedure refers to the surgery performed with minute incisions in the body; for instance, plaque blockages in the arteries of the heart and other vessel walls of peripheral organs, such as lower extremities, neck, kidneys, and brain.
Devices used within the minimally invasive surgical market are classified into handheld instruments, guiding devices, inflation systems, auxiliary devices, ultrasound, X-ray, CT & MRI imaging, visualization systems, electrosurgical devices and robotic systems.
Segment wise, the surgical instruments sector commanded the largest share of the minimally invasive surgery market, with a share of 38.4%. This growth has been primarily attributed to the increased usage of these devices and instruments in MIS procedures.
The US constitutes the largest region within the minimally invasive surgery market, followed by Europe, and Asia-Pacific. Pricing and reimbursement issues in certain regions of the world such as European and Asian countries have hampered the growth of the minimally invasive surgery market.
For more information on the minimally invasive surgery market, see the latest research: Minimally Invasive Surgery Market Report
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