As per the National Cancer Institute, minimally invasive surgery is defined as, “surgery that is done using small incisions (cuts) and few stitches. During minimally invasive surgery, one or more small incisions may be made in the body. A laparoscope (thin, tube-like instrument with a light and a lens for viewing) is inserted through one opening to guide the surgery. Tiny surgical instruments are inserted through other openings to do the surgery. Minimally invasive surgery may cause less pain, scarring, and damage to healthy tissue, and the patient may have a faster recovery than with traditional surgery.”
As per the U.S. Food and Drug Administration (FDA), “Different types of computer-assisted surgical systems can be used for pre-operative planning, surgical navigation, and to assist in performing surgical procedures. Robotically assisted surgical (RAS) devices are one type of computer-assisted surgical system. Sometimes referred to as robotic surgery, RAS devices enable the surgeon to use computer and software technology to control and move surgical instruments through one or more tiny incisions in the patient’s body (minimally invasive) for a variety of surgical procedures.”
The global minimally invasive surgical systems market is estimated to be valued at $27,882.8 million in 2020 and is anticipated to reach $55,716.7 million by the end of 2031, growing at a CAGR of 6.3% during 2021-2031. North America dominates the market in 2020 and is anticipated to uphold its dominance throughout the forecast period. The growth in the market is majorly driven by the increasing research and development activities and many companies being located in the U.S. Latin America, and Middle East and Africa market is expected to grow with the highest CAGR of 7.8% during the forecast period.
Potential opportunities that is likely to boost the growth of the market include development of low-cost surgical robotic systems, development of surgical simulators for the training of professionals, and engagement in mergers and acquisitions to diversify the endoscopic portfolio. The current radiation therapy systems have a price of around $2 million, therefore many companies are working in developing cost-effective system and even working towards the development of a low-cost surgical robotic platform. And with time, technologically advanced products are being working, researched to get an upgraded product.
Some of the key players operating in the market include: Arthrex Inc., Asensus Surgical Inc. (formerly TransEnterix Inc.), Boston Scientific Corporation, Conmed Corporation, Fujifilm Holdings Corporation, Intuitive Surgical Inc., Karl Storz SE & Co. KG, Medtronic plc, Olympus Corporation, Hoya Corporation (Pentax Medical), Siemens Healthineers AG, Smith & Nephew plc, Sony Corporation, Stryker Corporation, Zimmer Biomed Holdings Inc.
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