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The Australia Minimally Invasive Surgery Devices market is segmented by Products and Application
The market is expected to witness robust growth due to the increasing demand for minimally-invasive surgeries over traditional surgeries and rising prevalence of lifestyle-related and chronic disorders. In minimally invasive surgery, doctors use various methods to operate with minimal damage to the body as opposed to traditional open surgery. In general, minimally invasive surgery is associated with less pain, a shorter hospital stay, and fewer complications. By developing truly integrated solutions, minimally invasive procedures are beginning to replace traditional surgical care in other medical domains as well. The demand for this surgery is increasing at a very high rate, due to several factors that include a higher accuracy rate with relatively reduced pain, and fewer infections. The growing prevalence of chronic diseases is also a major factor in driving the market in the country. According to the Australia Bureau of Statistics, just under half (47.3%) of Australians, in 2017-18, had one or more chronic diseases, an increment from 2007-08, where two-fifth (42.2%) of individuals reported one or maybe more chronic diseases. Thus, owing to the benefits associated with minimally invasive surgeries, the adoption rate is increasing, which may drive the overall growth of the market.
Minimally-invasive surgical devices refer to electrosurgical systems, robot-assisted surgical systems, and surgical equipment, which are used during the minimally-invasive procedure. The minimally-invasive neurosurgery device market is growing at a significant rate, due to various benefits associated with minimally-invasive procedures, such as less recovery time, minimal pain to the patients, shortened hospital stay, and high accuracy.
|Laser Based Devices|
|Other MIS Devices|
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Endoscope devices are minimally invasive that can be inserted into natural openings of the human body, in order to observe an internal organ or a tissue in detail. Endoscopic surgeries are performed for imaging procedures and minor surgeries. Endoscopy can be indicated in various types of conditions such as GIT disorders, pancreatitis. Gastric/stomach cancer, Respiratory tract disorders, Urinary tract disorders e.t.c.
The market for an endoscope is expected to be driven by favorable reimbursement policies, technological advancements, and an increasing number of new players in the endoscopy devices market.
In August 2019, President Private Hospital Kirrawee has launched new endoscopy service that enables patients to directly book into endoscopy examinations in Kirrawee, Sydney. A campaign was also launched by President Private Hospital in July 2019. to boost low bowel screening participation rates across St George and Sutherland Shire. The campaign promotes Australia's National Bowel Cancer Screening Program and urges more people in the community to do to free life-saving test.
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The market studied is moderately competitive and there are several international as well as local companies that are present in Australia and are providing Minimally Invasive Surgery (MIS) solutions. The major players in Australia's minimally invasive surgery devices market are Boston Scientific Corporation, Koninklijke Philips N.V, Medtronic PLC, Olympus Corporation, Stryker Corporation, and Zimmer Biomet E.t.c.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence Lifestyle-related and Chronic Disorders
4.2.2 Increasing Preference for Minimally Invasive Procedures
4.3 Market Restraints
4.3.1 Shortage of Experienced Professionals
4.3.2 High Cost of the Devices and Surgery
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Products
5.1.1 Handheld Instruments
5.1.2 Guiding Devices
5.1.3 Electrosurgical Devices
5.1.4 Endoscopic Devices
5.1.5 Laparoscopic Devices
5.1.6 Ablation Devices
5.1.7 Laser Based Devices
5.1.8 Other MIS Devices
5.2 By Application
5.2.7 Other Applications
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Boston Scientific Corporation
6.1.2 GE Healthcare
6.1.3 Intuitive Surgical Inc.
6.1.4 Koninklijke Philips NV
6.1.5 Medtronic PLC
6.1.6 Olympus Corporation
6.1.7 Siemens Healthineers
6.1.8 Smith & Nephew
6.1.9 Stryker Corporation
6.1.10 Zimmer Biomet
7. MARKET OPPORTUNITIES AND FUTURE TRENDS