The global minimally invasive gastrointestinal surgical systems market size was US$ 5.08 billion in 2021. The global minimally invasive gastrointestinal surgical systems market is forecast to grow to US$ 9.8 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.9% during the forecast period from 2022 to 2030.
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COVID-19 Impact Analysis
The COVID-19 pandemic had a negative impact on various economies. Several industries in the healthcare domain witnessed a significant decline in terms of revenue generation. It increased the awareness about advanced robotic assistance for minimally invasive gastrointestinal surgical systems. However, the rising pressure on hospitals to cure the COVID-19 affected patients has been a major drawback for the market growth. As a result, surgeries and other treatments were either canceled or postponed during the pandemic. Thus, the demand for minimally invasive gastrointestinal surgical systems declined drastically.
Factors Influencing the Market Growth
- The global minimally invasive gastrointestinal surgical system is forecast to be driven by the beneficial applications of these systems, such as smaller incisions, high accuracy, low pain, and rapid recovery.
- Increasing investment in the healthcare sector will benefit the global minimally invasive gastrointestinal surgical systems market. Due to the COVID-19 pandemic, authorities’ focus has significantly shifted towards enhancing healthcare expenditure. As a result of this, the global minimally invasive gastrointestinal surgical systems market would grow significantly.
- Rapidly increasing population and geriatric population will result in creating ample growth opportunities for the market players.
- Increasing demand for surgeries and awareness about minimally invasive surgery is forecast to boost the market growth.
- Rising demand for efficient robots for GI surgical procedures will ultimately fuel the growth of the global minimally invasive gastrointestinal surgical systems market during the study period.
- Shortage of trained professionals and the high cost of technology may hamper the growth of the global minimally invasive gastrointestinal surgical systems market.
Geographic Analysis
North America is forecast to lead with the highest revenue in the global minimally invasive gastrointestinal surgical system market. The growth of the region is attributed to rapidly increasing cases of GI disorders and growing awareness related to minimally invasive GI surgery. In addition, increasing investments for technological advancements and trending robot-based surgeries will benefit the regional minimally invasive gastrointestinal surgical systems market.
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Asia-Pacific is forecast to emerge as a growing minimal invasive gastrointestinal surgical systems market, owing to growing healthcare infrastructure and rising consumer awareness in the region. Moreover, increasing the geriatric population would further benefit the regional market.
Competitors in the Market
- Olympus Corporation
- B. Braun Melsungen AG
- Karl Storz SE & Co. KG
- FUJIFILM Holdings Corporation
- Ambu A/S
- Medtronic
- Intuitive Surgical
- Stryker
- Asensus Surgical US, Inc.
- Xenocor, Inc.
- Other prominent players
Market Segmentation
The global minimally invasive gastrointestinal surgical systems market is segmented on the basis of Product Type, Surgery Type, End-User, and Region.
Insight by Product Type
- Conventional Minimally Invasive Gastrointestinal Surgical Systems (MISS)
- Surgical Robots.
Insight by Surgery Type
- Adrenalectomy
- Appendectomy
- Bariatric Surgery
- Cholecystectomy
- Colon
- Rectal Surgery
- Foregut Surgery
- Hernia Repair
Insight by End-User
- Specialty Clinics
- Hospitals
- Ambulatory Surgical Centers
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Insight by Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
What is the goal of the report?
- The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
- During the forecast period, the report analyzes the growth rate, market size, and market valuation.
- The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
- The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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