North America Minimally Invasive Medical Robotics, Imaging and Visualization Systems and Surgical Instruments Market, By Product (Surgical Devices, Imaging and Visualization Systems, Electrosurgical Devices, Medical Robotics), Technology (Surgical Devices, Imaging Devices Technology), Application (Cardio-Thoracic Surgery, Vascular Surgery, Neurological Surgery, ENT (Ear, Nose, and Throat)/Respiratory Surgery, Cosmetic Surgery, Gastrointestinal Surgery, Gynecological Surgery, Urological Surgery, Orthopedic Surgery, Oncology Surgery, Dental Surgery) – Industry Trends and Forecast to 2030.
North America Minimally Invasive Medical Robotics, Imaging and Visualization Systems and Surgical Instruments Market Analysis and Size
The increased use and acceptance of imaging and rising demand for minimally invasive treatment are the significant factors responsible for driving the market growth. In addition, the growing consumer awareness for preventive diagnostic screening and their approval by the surgeons and the cost of minimally invasive surgical procedures is much less when compared with in-patient and conventional open surgeries with equal outcomes, which also drives the overall market growth. However, the lack of knowledge and learning curve expertise in robotic-assisted surgery and declining average selling prices restrain market growth.
The rapid advancements in new technologies along with demand for outpatient surgeries are expected to generate profitable opportunities for market growth. On the other hand, the lack of favorable reimbursement scenarios and technology penetration in developing economies, competition from traditional surgical procedures and treatment accessories, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market growth in the forecast period of 2023-2030.
Data Bridge Market Research analyzes that the North America minimally invasive medical robotics, imaging and visualization systems and surgical instruments market which was USD 20,887.43 million in 2022, and would rocket up to USD 37,864.43 million by 2030, and is expected to undergo a CAGR of 7.9% during the forecast period. This indicates that the market value. The “Imaging and Visualization Systems” segment is expected to dominate the product segment of the market owing to the growing demand for better surgical, diagnostic, and treatment methods.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
North America Minimally Invasive Medical Robotics, Imaging and Visualization Systems and Surgical Instruments Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Surgical Devices, Imaging and Visualization Systems, Electrosurgical Devices, Medical Robotics), Technology (Surgical Devices, Imaging Devices Technology), Application (Cardio-Thoracic Surgery, Vascular Surgery, Neurological Surgery, ENT (Ear, Nose, and Throat)/Respiratory Surgery, Cosmetic Surgery, Gastrointestinal Surgery, Gynecological Surgery, Urological Surgery, Orthopedic Surgery, Oncology Surgery, Dental Surgery)
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Countries Covered
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U.S., Canada, and Mexico
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Market Players Covered
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General Electric (U.S.),Koninklijke Philips N.V. (Netherlands), CONMED Corporation (U.S.), Siemens (Germany), LiDCO (U.K.), Applied Medical Resources Corporation (U.S.), CNSystems Medizintechnik GmbH (Austria), Uscom (Australia), Smith + Nephew (U.K.), Getinge AB (Sweden), ICU Medical, Inc. (U.S.), Alphatec Spine Inc. (U.S.), Baxter (U.S.), Abbott (U.S.), Edwards Lifesciences Corporation (U.S.), Olympus Corporation (Japan), CooperSurgical, Inc. (U.S.), Zimmer Biomet (U.S.), Drägerwerk AG & Co. KGaA (Germany), FUJIFILM Corporation (Japan), and Osypka Medical GmbH (Germany)
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Market Opportunities
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Market Definition
Minimally Invasive Surgery or MIS refers to a surgical procedure that is performed with minute incisions in the body, such as plaque blockages in the arteries of the heart and other peripheral organ vascular walls, such as the lower extremities, the chest, the kidneys, and the brain. It offers various advantages such as minimal bruises, shorter hospital stays, reduced risk of infection, less leakage, and quick rehabilitation.
North America Minimally Invasive Medical Robotics, Imaging and Visualization Systems and Surgical Instruments Market Dynamics
Drivers
- Rising Prevalence of Chronic Diseases
Increasing incidence of chronic diseases such as obesity, heart disease, and cancer have been on the rise in North America, leading to an increased demand for surgical interventions. MIS techniques are often preferred for treating these conditions. Thus, the prevalence of chronic diseases such as cancer, cardiovascular diseases, and diabetes is increasing, which is driving the demand for minimally invasive surgical procedures. These procedures offer several benefits such as reduced pain, shorter hospital stays, and faster recovery times.
- Growing Aging Population
The aging population in North America has increased the demand for minimally invasive procedures. These patients often prefer less invasive treatments, driving the adoption of MIS techniques with an aim to develop devices, which is expected to boost the market growth rate.
- Reduced Healthcare Costs
MIS techniques have the potential to lower healthcare costs by shortening hospital stays and reducing recovery times. It becomes a significant driver as healthcare cost control remains a priority. Moreover, regulatory bodies, such as the FDA in the U.S., have been supportive of innovative medical technologies and often expedite approvals for minimally invasive medical devices, encouraging innovation in the market.
Opportunities
- Increasing Technological Advancements
Continuous advancements in robotics, imaging, and visualization technologies have enabled surgeons to perform complex procedures with greater precision, which is a major driver for market growth.
In addition, the adoption of robotic systems such as the da Vinci Surgical System has revolutionized surgical procedures. These systems provide surgeons with enhanced dexterity and visualization, leading to improved patient outcomes, which is expected to provide profitable opportunities for market growth.
Restraint/Challenge
- Lack of Skilled Workforce
On the other hand, operating robotic surgical systems and advanced imaging and visualization equipment requires specialized training. There may be a shortage of healthcare professionals with the necessary skills and expertise to operate these systems effectively, which is expected to restrain market growth. Moreover, the lack of favorable reimbursement scenarios and technology penetration in developing economies, competition from traditional surgical procedures and treatment accessories, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market growth.
The North America minimally invasive medical robotics, imaging and visualization systems and surgical instruments market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analysis opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on this market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you make an informed market decision to achieve market growth.
Recent Developments
- In October 2020, Intuitive Surgical launched its new da Vinci X robotic surgical system, which is designed to make minimally invasive surgery more accessible and affordable for hospitals and healthcare providers
- In September 2020, Medtronic launched its new Hugo RAS system, which is a robotic-assisted surgery platform designed to enable more precise and efficient surgery
North America Minimally Invasive Medical Robotics, Imaging and Visualization Systems and Surgical Instruments Market Scope
The North America minimally invasive medical robotics, imaging and visualization systems and surgical instruments market is segmented on the basis of product, technology, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Surgical Devices
- Handheld Instruments
- Forceps and Spatula
- Retractor
- Dilator
- Grasper
- Guiding Devices
- Guiding Catheters
- Guidewires
- Inflation Systems
- Balloons
- Balloon Inflation Device
- Auxiliary Devices
- Cannula
- Staplers
- Clamp and Closure
- Mechanical Cutters
- Trocar
- Rasp
- Scissors
- Imaging and Visualization Systems
- Ultrasound
- CT Imaging
- MRI Imaging
- X-Ray Imaging
- Visualization Systems
- Electrosurgical Devices
- Electrosurgical Generators & Accessories
- Vessel Sealing Instruments
- Electrocautery Devices
- Medical Robotics
- Da Vinci System
- Robodoc
- Mako System
- Neuromate
- Spine Assist.
Technology
- Surgical Devices
- Balloons
- Old/Normal Balloons
- Cutting Balloons
- Scoring Balloons
- Drug-Eluting Balloons
- Others
- Imaging Devices Technology
- 2d Imaging
- Ultrasound
- 3d Imaging
- Ultrasound
- MRI Imaging
Application
- Cardio-Thoracic Surgery
- Vascular Surgery
- Neurological Surgery
- ENT (Ear, Nose, and Throat) /Respiratory Surgery
- Cosmetic Surgery
- Gastrointestinal Surgery
- Gynecological Surgery
- Urological Surgery
- Orthopedic Surgery
- Oncology Surgery
- Dental Surgery
North America Minimally Invasive Medical Robotics, Imaging and Visualization Systems and Surgical Instruments Market Regional Analysis/Insights
The North America minimally invasive medical robotics, imaging and visualization systems and surgical instruments market is analyzed and market size insights and trends are provided by country, product, technology, and application as referenced above.
The countries covered in this market report are U.S., Canada, and Mexico.
The U.S. is expected to dominate the market and is the fastest-growing country during the forecast period of 2023 to 2030 due to the high rate of accidental injuries and large geriatric population in the country.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of regional brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The North America minimally invasive medical robotics, imaging and visualization systems and surgical instruments market also provides you with detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for biomaterials market, impact of technology using life line curves and changes in healthcare regulatory scenarios, and their impact on the biomaterials market. The data is available for the historic period 2011-2021.
Competitive Landscape and Minimally Invasive Medical Robotics, Imaging and Visualization Systems and Surgical Instruments Market Share Analysis
The North America minimally invasive medical robotics, imaging and visualization systems and surgical instruments market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the North America minimally invasive medical robotics, imaging and visualization systems and surgical instruments market are:
- General Electric (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- CONMED Corporation (U.S.)
- Siemens (Germany)
- LiDCO (U.K.)
- Applied Medical Resources Corporation (U.S.)
- CNSystems Medizintechnik GmbH (Austria)
- Uscom (Australia)
- Smith + Nephew (U.K.)
- Getinge AB (Sweden)
- ICU Medical, Inc. (U.S.)
- Alphatec Spine Inc. (U.S.)
- Baxter (U.S.)
- Abbott (U.S.)
- Edwards Lifesciences Corporation (U.S.)
- Olympus Corporation (Japan)
- CooperSurgical, Inc. (U.S.)
- Zimmer Biomet (U.S.)
- Drägerwerk AG & Co. KGaA (Germany)
- FUJIFILM Corporation (Japan)
- Osypka Medical GmbH (Germany)
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