Minimally Invasive Surgical Instrument Market – Analysis and Forecast To 2024 | Medtronic PLC, Johnson & Johnson.

Minimally invasive surgical (MIS) is a less invasive, and highly accurate surgical procedure. The global minimally invasive surgical instrument market is growing at a significant rate, due to advantages of minimally invasive surgeries above traditional open surgeries and mounting occurrence of lifestyle associated diseases. A different product such as inflation systems, auxiliary instruments, handheld instruments, cutter instruments, and electrosurgical devices contributed to the minimally invasive surgical instrument market size. The market has witnessed high demand for handheld instruments in the coming years due to convenience in usage and extensive implementation in MIS surgeries.

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Lack of skilled surgeons, limited reimbursement, stringent regulatory framework are the major challenges for the growth of minimally invasive surgical instrument market.

Globally, the manufacturing companies trying to enter the minimally invasive surgical instrument market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier to the entry of new players. This offers an edge to the established players in the industry competition.

Geographically, North America is the largest minimally invasive surgical instrument market as in the region the geriatric population is increasing. In addition, the mounting occurrence of lifestyle associated diseases, technological advancement and mounting awareness of MIS are also up surging growth of the North American minimally invasive surgical instrument market.

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Key players in the minimally invasive surgical instrument market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In February 2018, Stryker Corporation acquired Entellus Medical, to improve its product portfolio. Medtronic PLC, Smith & Nephew PLC, Johnson & Johnson, Conmed Corporation, Stryker Corporation, Hoya Corporation, B. Braun Melsungen Ag, Applied Medical Resources Corporation, and Zimmer Biomet Holdings, Inc. are the key players offering minimally invasive surgical instrument.

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