Chile Minimally Invasive Surgical Instruments Market Share, Current Impact, and Holistic View 2028

Chile Minimally Invasive Surgical Instruments Industry Overview

The Chile minimally invasive surgical instruments market size is expected to reach USD 101.4 million by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.9% from 2021 to 2028. Minimally invasive surgery is highly efficient as it enables the surgeons to use advanced technology and surgical techniques during surgery in a less harmful manner. It reduces the number and size of incisions made, lowering the risk of complications and damage to surrounding muscle and tissue. The improving healthcare infrastructure and the ease with which the instruments are accessible are contributing to the market growth. In addition, the growing geriatric population is expected to boost market growth. For instance, as per the Ministry of Foreign Affairs, Chile’s population over age 65 is expected to reach 24.9% by 2050.

Chile minimally invasive surgical instruments market size, by device, 2018 - 2028 (USD Million)

Chile Minimally Invasive Surgical Instruments Market Segmentation

Grand View Research has segmented the Chile minimally invasive surgical instruments market based on device and application:

Based on the Device Insights, the market is segmented into Handheld Instruments, Inflation Devices, Cutter Instruments, Guiding Devices, Electrosurgical Devices, Auxiliary Devices, Monitoring & Visualization Devices.

  • The handheld instruments segment dominated the market and held a revenue share of 24.3% in 2020. This is attributed to an increase in the number of surgical procedures performed, its higher precision and versatility, safe performance, high accuracy, and affordability. Furthermore, surgeons are progressively adopting technological developments in handheld surgical devices as the ease of use of these instruments improves. The market for handheld tools is being driven by technical advancements and their increasing use in minimally invasive surgeries.
  • The electrosurgical devices segment is anticipated to expand at the fastest CAGR of 9.6% over the forecast period. The use of electrosurgical devices has grown significantly to include a wide range of surgical specialties owing to benefits such as less operating time, minimal blood loss, and less damage to the surrounding tissues as these devices are highly precise, where the low voltage is chosen for cut modes and high voltage is preferred for coagulation modes. Furthermore, the minimal cost and reduced post-operative recovery period are expected to boost the segment growth.

Based on the Application Insights, the market is segmented into Cardiac, Gastrointestinal, Orthopedic, Vascular, Gynecological, Urological, Thoracic, Cosmetic, Dental, Others.

  • The orthopedic segment held the largest revenue share of 23.1% in 2020. The adoption of minimally invasive surgery (MIS) is high in orthopedics due to advantages such as minimum blood loss, minimal soft tissue damage, shorter turnaround time, and faster rehabilitation with smaller scars. In orthopedics, minimally invasive surgery is becoming the desired standard, principally due to technological advancements. The approach is proving to be particularly effective in joint replacement, fracture and bone reconstruction, and limb realignment.
  • The cosmetic segment is expected to expand at the highest CAGR during the forecast period. Owing to the rise in cosmetic surgery procedures, the decision to get cosmetic surgery has recently received a lot of attention. 

Key Companies Profile & Market Share Insights

With a significant number of manufacturers, the market is highly competitive. In order to acquire a significant share in the market, major companies are implementing various growth methods, such as new product development, product differentiation approaches, and financing and international strategy.

Some of the prominent players in the Chile minimally invasive surgical instruments market include,

  • Medtronic
  • Stryker
  • Smith & Nephew
  • Abbott
  • Zimmer Biomet
  • Intuitive Surgical, Inc.

Order a free sample PDF of the Chile Minimally Invasive Surgical Instruments Market Intelligence Study, published by Grand View Research.

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