Asia-Pacific minimally invasive surgical instruments market is expected to grow at a CAGR of around 8.6% during the forecast period. Asia Pacific minimally invasive surgical instruments market is expected to grow significantly owing to increasing prevalence of CVD diseases and significant rise in ageing population in the country. According to UN ESCAP (United Nations Economic and Social Commission for Asia and the Pacific), in 2016, nearly 12.4% of the population in APAC was 60 years and above. However, it is projected to rise to more than a quarter or 1.3 billion people by 2050.
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In East and North Asia (including countries with significant ageing population such as Japan and the Republic of Korea), more than a third of the population is expected to be aged 60 years and above by 2050, however in North and Central Asia, one in four persons will be 60 years and above. Additionally, the older population in less developed regions are growing rapidly as compared to more developed regions. By 2050, approximately 8 in 10 people of the world’s older population is expected to live in less developed regions. Growing ageing population leads to significant rise in multiple diseases, including orthopedic, heart disease, cataract and Alzheimer’s. This results in fueling the adoption of minimally invasive surgeries to offer effective outcomes for patients and further encouraging the demand for MIS instruments in the region.
The major companies operating in the market comprise Abbott Laboratories, Inc., Boston Scientific Corp., Medtronic plc, Koninklijke Philips N.V., and Olympus Corp. These companies are adopting several strategies, including mergers and acquisitions, product launches, and partnerships and collaborations, to expand market share and gain a competitive advantage over their competitors. The platforms offered by these companies are significantly adopted in hospitals to efficiently perform minimally invasive procedures. In August 2019, Asian Hospital and Medical Center’s (AHMC) introduced its Catheterization Lab which includes next-generation image-guided therapy platform, Philips Azurion 7 C20. This platform allows clinicians to perform open and minimally invasive procedures in one room. This shows increasing preference towards minimally invasive procedures, which is supporting to drive the growth of the market in the region.
Asia-Pacific Minimally Invasive Surgical Instruments Market Segmentation
By Product
- Inflation Systems
- Cutter Instruments
- Guiding Devices
- Handheld Instruments
- Stents
- Sutures
- Monitoring and Visualization Equipment
- Robotic Assisted Surgical Systems
By Technology
- Endoscopy
- Laparoscopy
- Robot-Assisted Methods
- Arthroscopic Techniques
- Ablative Methods
By Application
- Cardiac Surgery
- Colorectal Surgery
- Dermatological Surgery
- ENT Surgery
- Gastrointestinal Surgery
- Gynecological Surgery
- Lung & Respiratory Care
- Neurosurgery
- Ophthalmology
- Orthopedics
- Others
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Regional Analysis
- China
- India
- Japan
- Rest of Asia-Pacific
Company Profiles
- Abbott Laboratories, Inc.
- Boston Scientific Corp.
- Edwards Lifesciences Corp.
- Johnson & Johnson Services, Inc.
- Koninklijke Philips N.V.
- Medtronic plc
- Olympus Corp.
- Teleflex, Inc.
- Terumo Medical Corp.
- Zimmer Biomet Holdings, Inc.
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