Market Highlights
Global minimally-invasive surgery devices market expected to grow significantly over the forecast period. It is anticipated that the market held a market value of USD 20093.4 Million in 2018 and is Projected to Grow at a CAGR of 9.8% over the forecast period.
The global minimally-invasive surgery devices market is growing at a rapid pace, the major factor influencing the growth of the market include; increasing geriatric population, increasing prevalence of chronic diseases. Chronic disease has been one of the major application of minimally-invasive surgery device.
Chronic diseases and conditions are on the rise worldwide. As said by the World Health Organization (WHO), the amount of the burden of chronic diseases is expected to escalate to 60% by 2020 and 79% of deaths due to these diseases would occur in developing countries. According to a 2016 study published in “The Journal of Pediatrics,” it is observed that among the US population functional constipation and abdominal migraine are the most frequently occurring gastrointestinal disorders in children and adolescents. The occurrence of functional constipation is dominated in females than in males.
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Moreover, as per the Centers for Disease Control and Prevention, in 2015, an estimated 1.3% of the US adults reported being diagnosed with irritable bowel syndrome (IBD) (Either Crohn’s disease or ulcerative colitis). In accordance with the Cancer Research UK, about 1590 new cases of small intestine cancer were reported in the UK in 2015.
The incidences of obesity and urological diseases have also increased in recent years. According to WHO, in 2016 over 1.9 billion adults were obese. More than one-third of the adult population in the US has obesity. Additionally, WHO stated that over 50% of the women are reported to have the urinary tract infection at some point in their lives. With the increasing incidences of diseases, the demand for the minimal-invasive procedure is also expected to increase which leads to driving the global minimal-