Australia Minimally Invasive Surgery Devices Market - Growth, Trends, and Forecast (2020 - 2025)

The Australian Minimally Invasive Surgery Devices Market is segmented by Product and Application

Market Snapshot

Study Period:

2017-2025

Base Year:

2019

CAGR:

5.2 %

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Market Overview

The market studied is expected to witness robust growth, due to the increasing demand for minimally-invasive surgeries over traditional surgeries and the 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 have been beginning to replace traditional surgical care in other medical domains as well. The demand for this surgery has been 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 has also been a major factor in driving the studied market's growth 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 has been increasing, which may drive the overall growth of the market.

Scope of the report

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 has been 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.

By Products
Handheld Instruments
Guiding Devices
Electrosurgical Devices
Endoscopic Devices
Laparoscopic Devices
Ablation Devices
Laser Based Devices
Other MIS Devices
By Application
Aesthetic
Cardiovascular
Gastrointestinal
Gynecological
Orthopedic
Urological
Other Applications

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Key Market Trends

Endoscopic Devices Segment is Expected to Grow Significantly

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, etc.

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 launched a new endoscopy service that enables patients to directly book into endoscopy examinations in Kirrawee, Sydney. A campaign was also launched by the 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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Competitive Landscape

The market studied is moderately competitive, and there are several international as well as local companies that are present in Australia and have been providing minimally invasive surgery (MIS) solutions. The major players in the Australian minimally invasive surgery devices market are Boston Scientific Corporation, Koninklijke Philips N.V, Medtronic PLC, Olympus Corporation, Stryker Corporation, Zimmer Biomet, etc.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Prevalence Lifestyle-related and Chronic Disorders

      2. 4.2.2 Increasing Preference for Minimally Invasive Procedures

    3. 4.3 Market Restraints

      1. 4.3.1 Shortage of Experienced Professionals

      2. 4.3.2 High Cost of the Devices and Surgery

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Products

      1. 5.1.1 Handheld Instruments

      2. 5.1.2 Guiding Devices

      3. 5.1.3 Electrosurgical Devices

      4. 5.1.4 Endoscopic Devices

      5. 5.1.5 Laparoscopic Devices

      6. 5.1.6 Ablation Devices

      7. 5.1.7 Laser Based Devices

      8. 5.1.8 Other MIS Devices

    2. 5.2 By Application

      1. 5.2.1 Aesthetic

      2. 5.2.2 Cardiovascular

      3. 5.2.3 Gastrointestinal

      4. 5.2.4 Gynecological

      5. 5.2.5 Orthopedic

      6. 5.2.6 Urological

      7. 5.2.7 Other Applications

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Boston Scientific Corporation

      2. 6.1.2 GE Healthcare

      3. 6.1.3 Intuitive Surgical Inc.

      4. 6.1.4 Koninklijke Philips NV

      5. 6.1.5 Medtronic PLC

      6. 6.1.6 Olympus Corporation

      7. 6.1.7 Siemens Healthineers

      8. 6.1.8 Smith & Nephew

      9. 6.1.9 Stryker Corporation

      10. 6.1.10 Zimmer Biomet

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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