The Europe minimally-invasive surgery devices market is expected to register a CAGR of 7.7%, over the forecast period. The major factors for the growth of the Europe minimally-invasive surgery devices market include increasing prevalence of lifestyle-related and chronic disorders, technological advancements and higher acceptance rate of minimally-invasive surgeries over traditional surgeries.
Minimally-invasive surgeries (MIS) cause less post-operative pain, and patients receive smaller dosages of pain killers. As there are minimal cuts or stitches involved, the hospital stay is relatively shorter, and patients need not visit the hospital frequently.
Moreover, According to the European Society of Cardiology 2019 report, every year, there are more than 11 million people in Europe with cardiovascular diseases (CVD). With almost 49 million people living with the cardiovascular disease in the Europe, the cost to the European economies is high at EURO 210 billion a year. Thus, owing to the benefits associated with minimally-invasive surgeries along with growing chronic diseases, which may increase the overall growth of the market over the forecast period.
Key Market Trends
Gastrointestinal Segment, under Application, is expected to be the Fastest Growing Segment over the Forecast Period.
Gastrointestinal segment is expected to show growth over the forecast period due to rising incidence of gastrointestinal diseases in the geriatric, young, adult groups of population. Dyspepsia, irritable-bowel syndrome, and constipation are some of the examples of gastrointestinal disorders.
Gastroesophageal reflux disease is also a prevalent form of the organic gastrointestinal disorder. Minimally-invasive surgery has gained popularity for benign diseases, and has proved its safety and efficacy over traditional methods, owing to which, it has gained substantial attention in the past several years.
As per Società Italiana di Medicina Generale 2019 report, in Italy, population affected by gastroesophageal reflux disease was increased from 6.2% in 2007 to 17.9% in 2017. Thus, rising number of gastrointestinal disorders is expected to increase use of minimally-invasive devices and expected to drive market growth.
The Europe Minimally Invasive Surgery Devices Market is consolidated, owing to the presence of a few key players in the market. 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.