Market Size of United Kingdom Minimally Invasive Surgery Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.90 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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United Kingdom Minimally Invasive Surgery Devices Market Analysis
The UK market for minimally invasive surgery devices is expected to register a CAGR of 5.9% over the forecast period.
The pandemic has significantly impacted the market studied. The number of visits to hospitals and clinics for medical and cosmetic purposes decreased, leading to a decrease in the demand for minimally invasive devices. In the United Kingdom, device manufacturers recorded a significant decrease in their revenue compared to growth rates in the past decade. Companies are taking significant measures to combat the impact of COVID-19. In February 2021, an article published in the BMJ journal stated that NHS England show that the number of patients awaiting treatment hit a record high of 4.46 million in the past year. Thus, initial restrictions adversely impacted the market growth. However, with the ease of lockdowns, the pending surgeries have started to undergo which is expected to increase the demand for minimally invasive surgeries in the country thus increasing market growth.
The major factors for the growth of the market include the increasing prevalence of lifestyle-related and chronic disorders, along with the rising geriatric population in the country and technological advancements. The growing burden of chronic diseases, along with the increasing technological advancements in the United Kingdom, is likely to lead to increased demand for minimally invasive surgery devices. As per the 'British Association of Aesthetic Plastic Surgeons (BAAPS)' report released in February 2021, approximately 15 thousand cosmetic surgeries were carried out in the United Kingdom in 2021. According to the same source, breast augmentation was the most popular cosmetic surgery among women in the country in the past year, with over 4.6 thousand treatments, followed by breast reduction with over 3.1 thousand procedures. In addition, with 413 operations performed in the past year, rhinoplasty was the most popular surgery among men in the same year. Such instances imply greater demand for minimally invasive surgeries in the country, bolstering the market's growth. Thus, owing to the above-mentioned factors, the demand for minimally invasive surgical devices is expected to increase during the forecast period.
However, the shortage of experienced professionals is expected to hinder market growth.
