Market Trends of Europe Minimally Invasive Surgery Devices Industry
Gastrointestinal Segment is Expected to be the Fastest Growing Segment Over the Forecast Period
The gastrointestinal segment is expected to show growth over the forecast period due to the rising incidence of gastrointestinal diseases in the geriatric, young, and adult groups of the population. Dyspepsia, irritable bowel syndrome, and constipation are some examples of gastrointestinal disorders.
A gastroesophageal reflux disease is also a prevalent form of organic gastrointestinal disorder. The high burden of gastrointestinal diseases is the major factor driving the segment's growth. For instance, as per data from a new pan-European study on the burden of digestive diseases presented at UEG Week 2022, the report identified that digestive diseases affect over 300 million people across Europe and the Mediterranean. The incidence and prevalence of many digestive diseases are highest amongst the very young and the elderly, and as the European population ages, this disease burden will inevitably increase. Thus, the high burden of IBS is expected to drive the growth of the gastrointestinal segment.
Further, the high prevalence of cancer-related to the gastrointestinal tract, such as colon and rectal cancers, is expected to drive the demand for minimally invasive procedures, augmenting the market growth over the forecast period. For instance, as per the GLOBOCAN's estimates in 2020, there were 325,000 new cases of colon cancer and 182,000 new cases of rectum cancer in Europe 2020, these cases are expected to increase and reach up to 414,000 and 223,000, respectively, by 2040, and in recent years, minimally invasive surgeries such as laparoscopic or robot surgery have become the predominant treatment option for colon cancer, which is expected to boost the market.
Thus, the segment is anticipated to witness significant growth over the forecast period due to the abovementioned factors.
The United Kingdom is Expected to Hold a Significant Share in the Europe Minimally Invasive Device During Forecast Period
The United Kingdom is one of the major economies in the European region, with high healthcare expenditure and a technologically advanced healthcare system. The growing burden of chronic diseases, along with the rising geriatric population in the United Kingdom, is likely to lead to increased demand for minimally invasive surgery devices.
The United Kingdom has a high burden of cardiovascular diseases such as congestive heart failure, stroke, heart failure, atrial fibrillation, and other heart patients, which are expected to boost the growth of the market over the forecast period. For instance, according to the British Heart Foundation (BHF) 2022 Factsheet, as of August 2022, around 7.4 million people were living with heart and circulatory diseases in the United Kingdom, which is expected to drive market growth as this will increase the use of minimally invasive surgical devices in the management of the diseases as it is more preferential for the treatment of various CVDs.
Additionally, in September 2021, according to the BHF, more than 7 million people lived with cardiovascular diseases, and about 152,465 were mortalities due to cardiovascular diseases. Thus, all these factors are increasing the demand for minimally invasive surgery devices, which is driving the growth of the market.
The number of hospitals and surgical centers is increasing in both developed and emerging countries. The demand for surgical equipment such as MIS is increasing owing to the increasing patient population base undergoing surgeries in the United Kingdom. For instance, in October 2021, the Prime Minister of the United Kingdom initiated a plan to invest USD 4.3 billion in 40 hospitals and certain schemes for future funding for 48 hospitals by 2030.
Thus, owing to the above-mentioned factors, it is expected to show significant growth over the forecast period.
