European minimally invasive surgical instruments market is expected to grow at a CAGR of around 7.2% during the forecast period. European minimally invasive surgical instruments market is significantly driven by the increasing prevalence of chronic diseases, high focus on improving patient’s quality of life and increasing healthcare expenditure in the region. In addition, the rising ageing population is also an important driving factor affecting the demand for minimally invasive surgical instruments in the region. According to the Eurostat, in 2017, approximately 19%, one-fifth of the EU population was aged 65 and over.
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Moreover, by 2080, the proportion of people aged 80 and over should more than double to reach 13% of the total population. In Jan 2017, the population in the EU-28 was estimated at 511.5 million. Among this population, the young people (0-14 age group) consist of 15.6% of the total EU-28 population. However, the people aged 15-64 years old accounted for 64.9% of the total population. The people aged 65 and over accounted 19.4% share, which is a rise of 0.2% points than the previous year and a rise of 2.4% points than 10 years earlier. The share of people aged 65 and above in the overall population includes Italy, Greece and Germany with 22.3%, 21.5% and 21.2%, respectively. These countries hold the highest share among people aged 65 and over, while Ireland had the lowest share with 13.4%.
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Across EU member states, Ireland held the largest share of young people in the overall population with 21.1%, in 2017, whereas the lowest share of young people was observed in Germany (13.4%). The growth in the ageing population leads to a rise in orthopedic conditions such as osteoarthritis, fractures and osteoporosis. It usually occurs as people grow older, their bone mineral density declines and decreased mineral level resulting in weaker bones. Hence, minimally invasive surgery is one of the major options for the treatment of these conditions as it enables to treat injuries associated with knee, shoulder, wrist, ankle and elbow with considerable safety among people of all age groups.
The major companies operating in the market comprise Abbott Laboratories, Inc., Boston Scientific Corp., Medtronic plc, B. Braun Melsungen AG, and Koninklijke Philips N.V. 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. For instance, in April 2018, Medtronic declared the introduction of the Visualase MRI guided laser ablation system in Europe. The system will provide a further minimally invasive option to the neurosurgeons for accurate targeting and treating small areas of tissue.
Market Segmentation
European Minimally Invasive Surgical Instruments Market by Product
- Inflation Systems
- Cutter Instruments
- Guiding Devices
- Handheld Instruments
- Stents
- Sutures
- Monitoring and Visualization Equipment
- Robotic Assisted Surgical Systems
European Minimally Invasive Surgical Instruments Market by Technology
- Endoscopy
- Laparoscopy
- Robot-Assisted Methods
- Arthroscopic Techniques
- Ablative Methods
European Minimally Invasive Surgical Instruments Market by Application
- Cardiac Surgery
- Colorectal Surgery
- Dermatological Surgery
- ENT Surgery
- Gastrointestinal Surgery
- Gynecological Surgery
- Lung & Respiratory Care
- Neurosurgery
- Ophthalmology
- Orthopedics
- Others
Regional Analysis
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Company Profiles
- Abbott Laboratories, Inc.
- Braun Melsungen AG
- Boston Scientific Corp.
- Edwards Lifesciences Corp.
- Johnson & Johnson Services, Inc.
- Koninklijke Philips N.V.
- Medtronic plc
- Teleflex, Inc.
- Terumo Medical Corp.
- Zimmer Biomet Holdings, Inc.
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
