Top 5 Companies in the Minimally Invasive Surgical Instruments Market 2023
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28 April, 2023
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Growth Plus Reports
According to Growth Plus, Reports, the global minimally invasive surgical instruments market was valued at US$ 21.60 billion in 2020 and is expected to register a CAGR of 8.30% to reach US$ 52.06 billion by 2031. The growing number of surgeries, the increasing prevalence of chronic diseases, the benefits of minimally invasive procedures over traditional open surgeries, and the rising investment in developing and launching technologically enhanced instruments will drive the revenue growth of the minimally invasive surgical instruments market.
What are Minimally Invasive Surgical Instruments?
Minimally invasive surgery (MIS) is any surgical operation conducted through tiny incisions rather than a big opening. MIS specialists use procedures restricting the size and amount of incisions on the patient's body. Such operations provide faster recovery time, less discomfort than traditional open surgeries, shorter hospital stays, and the same benefits as regular surgeries. MIS employs a variety of surgical equipment, including portable instruments, electrosurgical instruments, inflating systems, monitoring and imaging devices, and guiding devices.
The Top 5 Players Operating in the Minimally Invasive Surgical Instruments Market are:
- Johnson & Johnson Services, Inc: Johnson & Johnson (J&J) is a multinational medical device, pharmaceutical, and consumer packaged goods corporation founded in 1886. The corporate offices of Johnson & Johnson are in New Brunswick, New Jersey, while the consumer division is in Skillman, New Jersey. The corporation has around 250 subsidiary firms that operate in 60 countries and sell products in over 175 countries.
- Medtronic: Medtronic is a medical device company headquartered in the United States. The company's operations and executive offices are in Minneapolis, Minnesota; due to its 2015 acquisition of Irish-based Covidien, its legal headquarters remain in Ireland. Over 90,000 individuals work for the firm, which operates in over 150 countries. It manufactures and develops healthcare technologies and medicines. Medtronic was established in 1949 in Minneapolis.
- Abbott: Abbott has been at the forefront of innovation since its inception. The company aims to provide cutting-edge medical treatments to battle severe diseases and infections. Abbott is a multinational medical equipment manufacturer headquartered in the United States. It was founded in 1888. The headquarters of the corporation is located in Illinois, USA.
- B. Braun Melsungen AG: B. Braun is a Germany-based medical and pharmaceutical equipment company with over 63,000 workers globally with offices and manufacturing facilities in more than 60 countries. The Braun family controls the company, which was founded in 1839. B. Braun has approximately 5.000 unique healthcare products, 95% manufactured in-house.
- Stryker Corporation: Stryker Corporation is an American multinational medical technology firm in Kalamazoo, Michigan. Stryker manufactures surgical instruments, endoscopic and communications systems, and other medical equipment in various medical disciplines. Stryker products are available in over 100 countries. The Orthopedic Frame Company, Stryker Corporation's forerunner, was founded in 1941. In 1964, the firm officially became the Stryker firm.
