Demand for minimally invasive surgical instruments to top US$23 bln by 2014

A minimally invasive procedure is any procedure (surgical or otherwise) that is less invasive than open surgery used for the same purpose, as per Wikipedia. A minimally invasive procedure typically involves use of laparoscopic devices and remote-control manipulation of instruments with indirect observation of the surgical field through an endoscope or similar device, and is carried out through the skin or through a body cavity or anatomical opening. This may result in shorter hospital stays, or allow outpatient treatment. Minimally invasive surgical procedures involve incisions small enough for a surgeon to insert a catheter into a blood vessel. These small incisions are a conduit through which instruments and devices can be inserted for the surgical procedure.With a share of 50%, plastics now represents the largest group of materials used in medical technology. The building blocks of advanced medical devices are biomedical polymers tailored to achieve specific performance properties. A growing number of surgical procedures are carried out using minimally invasive techniques. This has created a multibillion-dollar market for specialized devices and instruments used for these procedures. They include monitors and imaging equipment, electrosurgical devices, handheld instruments, auxiliary devices, and accessories. Selecting the appropriate polymer for these devices requires an understanding of the biological, physical and chemical, characteristics needed. The components are essentially miniature in size and have small dimensions and thin wall thickness. Devices designed require excellent mechanical properties, materials used should be able to withstand steam, hot air, gamma radiation, etc as well as remain unaffected in contact with organic materials/substances. Medical implants are required to be bio compatible to avoid rejection by the human body.
According to BCC Research, estimated global demand for minimally invasive surgical instruments (including stents, catheters, balloons and other devices used in angioplasty) reached US$14.8 bln in 2008 and is estimated to top US$23 bln by 2014. USA is the major consumer of minimally invasive devices, accounting for about 60% (US$8.3 bln) of the world market in 2007. Surgical instruments, including stents, guide wires and catheters, was the leading U.S. product segment in 2007, cardiothoracic surgery was most frequent application of the devices and orthopedic surgery is the fastest growing minimally invasive procedure. Cardiothoracic surgery was the largest application segment for MIS devices and equipment in 2007, representing 70% of the total market. Cardiothoracic surgery was followed in order of size by orthopedic surgery (12%), gastrointestinal surgery (10%) and gynecology (3%).
As per a new report by BCC, the global MIS devices and instruments market was worth an estimated US$13.4 bln in 2010. The market is expected to reach US$14.4 bln in 2011 and US$21.1 bln by 2016, a compound annual growth rate (CAGR) of 7.9% between 2011 and 2016. Cardiothoracic surgery was the largest application segment for MIS devices and equipment in 2010, representing 68% of the total market. Orthopedic surgery is the fastest growing application segment, with a CAGR of 11.2% between 2011 and 2016, followed by cardiothoracic surgery (8%) and vascular surgery (7.8%). A growing number of surgical procedures are carried out using minimally invasive techniques. This created a multibillion-dollar market for specialized devices and instruments used for these procedures. They include monitors and imaging equipment, electrosurgical devices, handheld instruments, auxiliary devices, and accessories. Three of the five largest medical device markets in the world are in Western Europe; Germany, France and the UK. Beyond the current recession the countries of Western Europe are expected to return to growth with leading markets averaging CAGR of 3.4% to 2016. Factors affecting the market�s growth potential include changes in the regulatory environment or government measures such as spending controls on medical devices. The significant increase in the migratory population, along with an increasing and needy population of elderly people will see demand for medical devices and equipment maintained.
According to espicom.com, the UK has one of the largest medical device markets in the world, valued at US$8.5 bln in 2011. The domestic market vies with France as the second largest in Europe behind Germany. Per capita expenditure is equal to US$136. The UK market for medical devices is predicted to increase by 3.5% pa to attain a value of US$10.1 bln by 2016. The growth of the UK medical device market is predominantly import-led as many domestic manufacturers are not able to rapidly adjust to changes in demand. This led to a trade deficit for the seventh year in succession in 2008. The import market has not been immune to the recession, however. It has faltered since mid 2008, and the total was 11.8% lower in 2009 than in 2008. There was a period of huge growth in public health spending under the Labour government after 2001, which saw the NHS budget almost triple. In 2008, total health expenditure was estimated at �131 billion (US$232.2 billion). Of this, �114 billion is public, equal to around 87% of the total. Expenditure is set to slow in the wake of the 2009 recession and enormous government deficit, however. The newlyelected (May 2010) Conservative/Liberal-Democrat coalition government has pledged to maintain some sort of growth in recurrent health spending, although this may prove difficult. The latest published government plans involve a 9% cut in capital health spending in 2011.
As per espicom, France ranks among the top five largest medical device markets in the world, spending 2.9% of total health expenditure on medical equipment and supplies and 0.3% of GDP, which is average for a West European country. Whilst the overall market is generally well developed, there are sectors which remain underdeveloped, particularly for the more innovative forms of technology, despite efforts to reform the hospital planning process and increase investment. Whilst the public sector is the largest purchaser of most diagnostic and therapeutic equipment, the private sector is the dominant purchaser of surgical equipment and supplies. The continuing deficit of the national health insurance funds has prompted new measures to control spending on medical devices, similar to those already in force for pharmaceuticals. A target of 2.9% growth in health insurance spending has been set for 2011. To meet this target, efficiency savings of 2.4 bln euros need to be found with healthcare products required to contribute 500 mln euros. Specific measures include lowering the reimbursement rate for medical devices reimbursed at 65% to 60% with the aim of saving 100 million euros. The medical market is only likely to see moderate growth, rising from US$8.3 billion in 2011 to US$9.8 billion by 2016. The medical manufacturing industry has seen an influx of foreign companies; most larger manufacturers are now subsidiaries of multinational groups. With flagging domestic production in several sectors the French medical device market is increasingly reliant upon imports, which now account for around 80% of consumption. The value of medical device imports exceeds the total market value due to the fact that not all imported products are destined for the domestic market, but are re-exported to other countries.
The population served by established markets is aging, bringing new surgical needs, while new markets are opening up. Technological advances have expanded the range of surgical procedures that can be performed using minimally invasive techniques, while giving physicians new tools for the diagnosis and treatment of injuries and pathologies.