North America Minimally Invasive Surgery Devices Industry

North America Minimally Invasive Surgery Devices Market Analysis

The North America Minimally Invasive Surgery Devices Market is expected to register a CAGR of 8.5% during the forecast period.

North America minimally invasive surgical devices market is being driven by the growing burden of chronic diseases leading to the surgical interventions and high adoption of minimally invasive devices.

According to the data published by Centers for Disease Control and Prevention (CDC, 2018), there were 32.3 million of visits to physician offices, with diseases of the digestive system as the primary diagnosis in the United States. With the increase in the government's continuous effort to improve the health of people, the number of gastrointestinal surgeries is bound to rise, which, in turn, may improve the scope for minimally-invasive devices meant for gastrointestinal surgery. Similarly, about Nearly 18 million people in the United States underwent cosmetic surgical and minimally invasive procedures in 2018, states the ASPS. There has been a rise in the number of procedures in recent years, with over a quarter more million procedures performed in 2018 than 2017.

North America Minimally Invasive Surgery Devices Market Trends

Gastrointestinal Segment Expected to Have Notable Growth Over the Period.

The main factors driving the growth of the gastrointestinal segment is owing to the rising incidence of gastrointestinal diseases in the young, adult, and geriatric groups, in the United States. Dyspepsia, irritable-bowel syndrome and constipation are some of the examples of gastrointestinal disorders.

According to the International Foundation for Gastrointestinal Disorders, estimated that are approximately 2.4 to 3.5 million annual physician visits for irritable bowel syndrome (IBS) in the United States alone. The irritable bowel syndrome (IBS) is the most common disorder diagnosed by gastroenterologists, which accounts for up to 12% of total visits to primary care providers.

Moreover, with the increase in the government’s continuous effort to improve the health of people, the number of gastrointestinal surgeries is bound to rise, which, in turn, may improve the scope for minimally-invasive devices meant for gastrointestinal surgery.

North America Minimally Invasive Surgery Devices Industry Overview

The market studied is moderately consolidated, owing to the presence of a few key players in the market. The companies are focusing on the technological advancement of devices, in order to gain significant market share. Some of the market players are Abbott Laboratories, GE Healthcare, Intuitive Surgical Inc., Koninklijke Philips NV, Medtronic PLC, Olympus Corporation, Siemens Healthineers, Smith & Nephew, Stryker Corporation, and Zimmer Biomet.

North America Minimally Invasive Surgery Devices Market Leaders