The global minimally invasive surgical instruments market was valued at USD 31,650.6 million in 2023 and is expected to reach USD 63,045.5 million by 2030, growing at a CAGR of 10.3% from 2024 to 2030. The rapid adoption of surgical robots has transformed the MIS landscape, with surgeon acceptance increasing worldwide. Minimally invasive procedures offer significantly lower costs compared to inpatient and traditional open surgeries, while delivering comparable outcomes—resulting in strong value benefits for both patients and insurance providers.
This momentum is expected to persist in the coming years, supported by a surge in new product launches and regulatory approvals as companies strive to expand their market presence. For example, in December 2022, Abbott launched Navitor, an advanced transcatheter aortic valve implantation system designed for treating aortic stenosis, further broadening the scope of MIS applications.
Key Market Trends & Insights
- North America held the largest market share in 2023 at 29.9%.
- By end-use, hospitals accounted for 68.8% of total revenue in 2023.
- By device, the handheld instruments segment led the market, capturing 22.1% of revenue in 2023.
- By application, orthopedics dominated with a 23.6% revenue share in 2023.
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Market Size & Forecast
- 2023 Market Size: USD 31,650.6 Million
- 2030 Projected Market Size: USD 63,045.5 Million
- CAGR (2024–2030): 10.3%
- Largest Market (2023): North America
- Fastest-Growing Region: Asia Pacific
Competitive Landscape
Market participants maintain strong collaborations with manufacturers and suppliers to ensure consistent global supply. Strategic partnerships, mergers, and acquisitions remain central to their growth strategies.
- In February 2023, Encision Inc. signed a Proof of Concept Services Agreement with Vicarious Surgical Inc., supporting the development of a next-generation surgical robot aimed at enhancing precision, control, and visualization in robotic-assisted MIS.
- In November 2022, New View Surgical, Inc. secured USD 12.1 million in Series funding to support commercialization of its VisionPort System.
Prominent Companies
- Medtronic
- Siemens Healthineer AG
- Ethicon, Inc. (Johnson & Johnson)
- Depuy Synthes
- GE Healthcare
- Abbott Laboratories
- Intuitive Surgical, Inc.
- NuVasive, Inc.
- Zimmer Biomet
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Conclusion
The minimally invasive surgical instruments market continues to advance rapidly, driven by technological innovation, increased adoption of robotic surgery, and expanding clinical applications. As healthcare providers prioritize efficiency, safety, and cost-effectiveness, MIS technologies are expected to play an increasingly pivotal role in the global surgical landscape.
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