Medtronic, Stryker and Smith & Nephew leading minimally invasive surgical instruments market
Medtronic, Stryker and Smith & Nephew are the market leaders of the minimally invasive surgical instruments market. The market is expected to hit USD 18.14 billion by 2021. Other companies which are also well established in the market are Ethicon, Aesculap, ConMed, Abbott Laboratories, Applied Biomedical Resources, Microline Surgical and Zimmer Biomet. The market is likely to grow at a CAGR of 10.2%. The key factors boosting the market growth include high demand among patients for minimally invasive surgical procedures over traditional surgeries and an increase in the number of procedures in the elderly population. The orthopedic segment captured the largest market share in 2015, owing to an increase in bone conditions and spine injuries. Private hospitals and surgical clinics accounted for the largest MIS instrument market share in 2015. North America dominated the market in 2015, but the Asia Pacific is considered to witness the highest growth rate.