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Healthy growth for minimally invasive medical devices

By 2014, the global market worth for minimally invasive medical devices is predicted to reach $23 million, up from $14.8 billion in 2008.

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That represents a compound annual growth rate of 7.8%. The forecast comes from a new technical market research report, “The market for minimally invasive medical devices” from BCC Research.

The U.S. accounted for about 60% ($8.3 billion) of this market in 2007, and is expected to reach $13.6 billion in 2014, according to the report. Other key findings in the report include the following:

• Surgical devices (stents, catheters, guidewires) represent the largest minimially invasive surgery product segment in the U.S., with 69% market share in 2007. Monitoring and visualization systems were second at 11% market share, followed by endosurgical instruments (9%), electrosurgical equipment (8%), and robotics (3%). Surgical robots, however, represent the fastest-growing equipment/device segment, with an expected 12% CAGR between now and 2014.

• Cardiothoracic surgery was the largest application segment for these devices and equipment.

• U.S. hospitals with in-house surgery departments represented the largest user segment, with 45% of the total market in 2007. Outpatient surgery clinics accounted for 35% of the U.S. market, individual physicians and surgeons 15%, while medical schools and other medical education programs accounting for the remaining 5% of the market.

An electronic PDF of the report is available for $4,850 by contacting BCC Research, 40 Washington St., Suite 110, Wellesley, MA. Phone: 866-285-7215, or [email protected].
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