Wilmington, Delaware, United States, Aug. 09, 2023 (GLOBE NEWSWIRE) -- The global market for visualization instruments for MIS was estimated to have garnered a global market valuation of around US$ 10.4 billion in 2022. The market is anticipated to grow with a steady 7.2% CAGR from 2022 to 2031 and by 2031, the market is likely to gain US$ 21 billion.
In comparison to open surgery, the use of MIS results in much reduced blood loss, lower painkiller intake, and a shorter postoperative hospital stay. It enables a quicker time to initial flatus and soft death. Therefore, MIS for stomach cancer may be done safely on people in their 80s and older.
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A combination of technical advancements, including the use of more efficient motors, small and light materials, power backup, advanced controls and safety measures, as well as more affordable versions, may be credited for the rapid rise of medical robotic systems.
Visualization system technological developments are driving the market. For example, in March 2019, Stryker introduced innovative imaging technology intended to improve the arthroscopy surgical procedure.
Key Findings of Market Report
- In terms of product category, the visualization systems market share for MIS visualization tools was the greatest globally in 2021.
- According to MIS type, the endoscopy segment accounted for a significant portion of the visualization tools for MIS industry in 2021.
- The healthcare sector accounted for the greatest end-user share of visualization tools for MIS in 2021.
- In 2021, Europe accounted for a sizable portion.
Market Trends For Visualization Instruments for MIS
- In terms of end users, the hospital sector possessed the majority of the visualization tools for MIS market share in 2021. This might be attributed to the rise of MIS operations carried out in hospitals, which has increased along with the number of hospitals. The American Hospital Association (AHA) estimates that there will be 6,093 hospitals in the United States by the year 2022, up from 5,564 in 2017. The number of MIS operations conducted has increased as a result of the expansion of hospitals in the area.
- According to MIS type, the endoscopy segment accounted for a significant portion of the visualization tools for MIS industry in 2021. This can be attributed to the growth in endoscopic operations as well as the increased use of MIS and visualization tools during endoscopy procedures. According to Becker's Healthcare, 51.5 million (68%) of the 75 million endoscopies carried out in the U.S. each year are gastrointestinal endoscopies.
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Global Visualization Instruments for MIS Regional Market Outlook
- In 2021, Europe accounted for a sizable portion. This can be attributed to the rise in chronic as well as lifestyle-related diseases, technical developments in MIS visualization tools, rising healthcare costs, and a higher acceptability of minimally invasive procedures than conventional ones in the area. Government spending on healthcare in the EU was estimated by the European Commission to be $1,220.4 billion in 2021, or roughly 7.0% of GDP.
- During the projection period, Latin America is anticipated to have considerable market growth. This can be attributed to the region's growing senior population, expanding healthcare system, and elevated awareness of MIS operations.
Global Visualization Instruments for MIS Market: Key Players
To compete in the market, businesses are concentrating on techniques like new product launches, mergers, as well as partnerships & collaborations. The leading market participants are Arthrex GmbH, B. Braun Melsungen AG, CONMED Corporation, Medtronic plc, Millennium Surgical Corp, Richard Wolf GmbH, Lazurite Holdings LLC, Olympus Corporation, Smith & Nephew plc, and Stryker Corporation.
Some developments by the key players in the global market for visualization instruments for MIS are:
- The VISERA ELITE III surgical visualization platform from Olympus Corporation was introduced in 2022. It offers a variety of imaging capabilities supported by a single system, allowing minimally invasive procedures such laparoscopic colectomy as well as laparoscopic cholecystectomy. The VISERA ELITE III system combines the 4K imaging function from the VISERA 4K UHD system with the 3D and infrared imaging features from the VISERA ELITE II system. Narrow Band Imaging (NBI) and fluorescence-guided surgery are also supported.
- The United States the Food and Drug Administration approved Lazurite Holdings LLC's ArthroFree Wireless Camera System, which is utilized in minimally invasive procedures, in 2022. Through cost reductions, energy efficiency, and shortened setup/breakdown times, the system is intended to bring patient safety, enhanced operating room productivity, and economic value.
- The digital care coordination and communication business Vocera Communications, Inc. was purchased by Stryker Corporation in February 2022. The purchase presents Stryker with tremendous opportunity to enhance its technologies and speed up its digital goals to allow safer patient care and help clients achieve better results.
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Global Visualization Instruments for MIS Market Segmentation
- Product Type
- Visualization Systems
- 2D Systems
- 3D Systems
- Consumables & Accessories
- Visualization Systems
- MIS Type
- Endoscopy
- Arthroscopy
- Laparoscopy
- Obstetrics & Gynecology Endoscopy
- Urologic Endoscopy
- Bronchoscopy
- Gastroscopy
- Others
- Robotic Surgery
- Endoscopy
- End-user
- Hospitals
- Clinics
- Ambulatory Surgery Centers
- Others
- Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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