Maximum growth for minimally invasive medical devices

08-Apr-09
A 7.8% pa global growth rate has been forecast for minimally invasive medical devices as per a report by BCC Research, increasing market's value to US$23.0 bln in 2014, from US$14.8 bln in 2008 and an estimated US$15.8 bln in 2009. In 2007, USA accounted for about 60% of the world market at US$8.3 bln. The US market is increasing at an annual rate of 7.4%, from US$$8.9 bln in 2008, to US$9.5 bln in 2009 and US$13.6 bln by 2014. Surgical devices, such as stents, catheters and guidewires, are the largest product segment of the US minimally invasive surgery market. They accounted for about a 69% share in 2007. Monitoring and visualisation systems were the second largest segment in 2007, with an 11% market share. This was followed by endosurgical instruments (9%), electrosurgical equipment (8%) and robotics (3%). Surgical robots are the fastest-growing equipment/device segment at a growth rate of 12% pa between 2009 and 2014, followed by surgical devices, with an annual rate of 8%. The dominant surgical area using minimally invasive devices in 2007 was cardiothoracic surgery, representing 70% of the total market. This was followed in order of size by orthopedic surgery (12%), gastrointestinal surgery (10%) and gynecology (3%). US hospitals with in-house surgery departments are the biggest user segment, with 45% of the total market in 2007. Outpatient surgery clinics accounted for 35% of the US market, and individual physicians and surgeons represented 15%. Medical schools and other medical education programs accounted for the remaining 5%.
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