Sweden Minimally Invasive Surgery Devices Market Size
![Sweden Minimally Invasive Surgery Devices Market Summary](https://s3.mordorintelligence.com/sweden-minimally-invasive-surgery-devices-market/1666162898503_sweden-minimally-invasive-surgery-devices-market_Market_Summary.webp)
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 6.50 % |
Market Concentration | Low |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Sweden Minimally Invasive Surgery Devices Market Analysis
Sweden's minimally invasive surgery devices market is expected to register a CAGR of 6.5% during the forecast period.
The COVID-19 pandemic has had ramifications on various surgical procedures, including minimally invasive procedures. Due to lockdown restrictions, a delay in diagnosis and treatments was observed in patients with various lifestyle-related and chronic diseases as a result of a reduction in hospital visits, which impacted the market studied. For instance, as per the study published in July 2022 by BMC Surgery, a total of 1,329 patients underwent hernia surgery during the study period; 579 were operated on during the COVID-19 period and 750 during the control period. The number of emergency ventral hernia repairs increased during the COVID-19 pandemic, but no difference in the inguinal hernia repair rate was seen.
The major factors for the growth of the market studied include the higher acceptance rate of minimally invasive surgeries over traditional surgeries, the increasing prevalence of lifestyle-related and chronic diseases, and technological advancements in the area.
MIS procedures have several advantages over conventional procedures, such as less post-operative pain, fewer major operative and post-operative complications, faster recovery times, less scarring, less stress on the immune system, and smaller incisions. These benefits of minimally invasive procedures reduce the overall cost of the treatment, due to which MIS procedures are being preferred all over the world, driving the market growth. Further, the growing prevalence of chronic diseases, such as cancer and cardiovascular diseases, among others, is driving the demand for surgical procedures for treatment, augmenting the growth of the market. For instance, as per Country Health Profile 2021, nearly two in five Swedish adults (38%) reported having at least one chronic condition - a slightly higher proportion than in the European Union as a whole (36%). This proportion increases with age; 55% of people aged over 65 reported at least one chronic condition. Many of these conditions increase the risk of severe complications from COVID-19. As with self-reported health, there is a gap in the prevalence of chronic conditions by income group: 46% of Swedish adults in the lowest income group report having at least one chronic condition, compared to 30% of those in the highest. Thus, due to the high burden of mortality due to chronic diseases, the demand for treatment procedures is increasing. As minimally invasive procedures have more advantages over traditional procedures, they are gaining traction. Thus, the market studied is expected to grow over the forecast period.
Additionally, new product launches due to technological advancements, collaborations, mergers, and acquisitions are the key strategic initiatives undertaken by the industry players, which are expected to have a positive impact on the market. Thus, due to the development of innovative solutions, the market is expected to experience stable growth over the forecast period. For instance, in July 2022, Accelus, a privately held medical technology company focused on accelerating the adoption of minimally invasive surgery (MIS) as the standard of care in the spine, announced the closing of a USD 12 million lead investment in the company's Series D equity financing by Concord Innovation Fund II, LP.
The rising awareness about the benefits of minimally invasive procedures and increasing adoption of robotic-assisted surgery systems around the world are further expected to boost market growth over the forecast period. However, the lack of trained professionals and uncertain regulatory policies in different parts of the world are expected to restrain the market growth during the forecast period.
Sweden Minimally Invasive Surgery Devices Market Trends
This section covers the major market trends shaping the Sweden Minimally Invasive Surgery Devices Market according to our research experts:
Gastrointestinal Segment is Expected to Hold the Major Market Share Over the Forecast Period
The gastrointestinal segment is expected to occupy a major market share and register rapid growth over the forecast period, owing to the rising incidence of gastrointestinal diseases around the world. The gastrointestinal system in the body comprises the gastrointestinal tract, digestive tract, and alimentary canal. The major diseases associated with the system are irritable bowel syndrome (IBS), Crohn's disease, peptic ulcers, and others. The high burden of gastrointestinal diseases is the major factor driving the growth of the segment. For instance, as per the study published in May 2022, by PLOS One, in Sweden, the overall incidence rate was 360/1000 persons per year. Moreover, acute gastrointestinal illnesses (AGI) impose a substantial economic burden on the population and healthcare system. Thus, the high prevalence of acute gastrointestinal illnesses is expected to drive the growth of the gastrointestinal segment.
The high prevalence of cancers related to the gastrointestinal tract, such as colon and rectum cancers, is expected to drive the demand for minimally invasive procedures, augmenting the market growth over the forecast period. For instance, as per GLOBOCAN's estimates, in 2020, there were 4.42 thousand new cases of colon cancer and 2.18 thousand new cases of rectum cancer in Sweden. In recent years, minimally invasive surgeries, such as laparoscopic or robotic surgery, have become the predominant treatment option for colon cancer, which is expected to boost the market's growth.
Thus, all the aforementioned factors are expected to boost the segment's growth over the forecast period.
![Sweden Minimally Invasive Surgery Devices Market : Estimated Numbers of New Cancer Cases (in Thousand), Sweden, 2020-2040](https://s3.mordorintelligence.com/sweden-minimally-invasive-surgery-devices-market/1666163031185_sweden-minimally-invasive-surgery-devices-market_Estimated_Numbers_of_New_Cancer_Cases_in_Thousand_Sweden_2020-2040.png)
Endoscopy Segment is Expected to Witness Growth in the Forecast Period
Endoscopes are minimally-invasive devices and can be inserted into natural openings of the body to observe an internal organ or a tissue in detail. Endoscopic surgeries are performed for imaging procedures and minor surgeries.
The increasing prevalence of chronic disorders, like cancer, the rising aging population, increasing demand for flexible endoscopes, technological innovations, and new product launches are expected to drive the endoscopy segment during the forecast period.
Gastrointestinal tumors are the second-largest cause of cancer-related deaths worldwide. Endoscopy has proved to be the standard for the diagnosis of gastrointestinal cancers. Thus, an increase in endoscopic procedures for the early diagnosis of gastrointestinal cancers is expected to boost the market in the coming years. The majority of gastrointestinal stromal tumors usually start in the rectum, colon, and esophagus. Most people diagnosed with gastrointestinal stromal tumors are over 50 years of age. The rising prevalence of these tumors will drive the market. According to GLOBOCAN data updated in 2020, the country had 2.18 thousand new rectum cancer cases, which is expected to increase to 2.72 thousand cases by 2040. Thus, the high incidence of colorectal cancer will drive its diagnosis and treatment, therefore driving the endoscopy segment.
Thus, owing to the above-mentioned factors, the segment is expected to witness significant growth over the forecast period.
![Sweden Minimally Invasive Surgery Devices Market : Estimated Numbers of New Rectum Cancer Cases (in Thousand), Sweden, 2020-2040](https://s3.mordorintelligence.com/sweden-minimally-invasive-surgery-devices-market/1670507951077_sweden-minimally-invasive-surgery-devices-market_Estimated_Numbers_of_New_Rectum_Cancer_Cases_in_Thousand_Sweden_2020-2040.png)
Sweden Minimally Invasive Surgery Devices Industry Overview
Sweden's market for minimally invasive surgery devices is moderately consolidated, owing to the presence of a few key players. The companies are focusing on the technological advancement of devices to gain a significant market share. Some of the market players are Abbott Laboratories, GE Healthcare, Intuitive Surgical Inc., Koninklijke Philips NV, Medtronic PLC, Olympus Corporation, Siemens Healthineers, Smith & Nephew, Stryker Corporation, and Zimmer Biomet.
Sweden Minimally Invasive Surgery Devices Market Leaders
-
Abbott Laboratories
-
GE Company (GE Healthcare)
-
Koninklijke Philips NV
-
Medtronic PLC
-
Olympus Corporation
*Disclaimer: Major Players sorted in no particular order
![Sweden Minimally Invasive Surgery Devices Market Concentration](https://s3.mordorintelligence.com/sweden-minimally-invasive-surgery-devices-market/sweden-minimally-invasive-surgery-devices-market_1670508102551_Picture.webp)
Sweden Minimally Invasive Surgery Devices Market News
- In September 2022, Olympus Corporation launched VISERA ELITE III, its newest surgical visualization platform that addresses the needs of healthcare professionals (HCPs) for endoscopic procedures across multiple medical disciplines. VISERA ELITE III offers various imaging functions, all supported in one system, enabling minimally invasive surgeries such as laparoscopic colectomy and laparoscopic cholecystectomy.
- In July 2022, Accelus, a privately held medical technology company focused on accelerating the adoption of minimally invasive surgery (MIS) as the standard of care in the spine, announced the closing of a USD 12 million lead investment in the company's Series D equity financing by Concord Innovation Fund II, LP.
Sweden Minimally Invasive Surgery Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Higher Acceptance Rate of Minimally Invasive Surgeries over Traditional Surgeries and Technological Advancements
4.2.2 Increasing Prevalence of Lifestyle-related and Chronic Disorders
4.3 Market Restraints
4.3.1 Shortage of Experienced Professionals and Uncertain Regulatory Framework
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Handheld Instruments
5.1.2 Guiding Devices
5.1.2.1 Guiding Catheters
5.1.2.2 Guidewires
5.1.3 Electrosurgical Devices
5.1.4 Endoscopic Devices
5.1.5 Laproscopic Devices
5.1.6 Monitoring and Visualization Devices
5.1.7 Ablation Devices
5.1.8 Laser-based Devices
5.1.9 Robotic-assisted Surgical Systems
5.1.10 Other MIS Devices
5.2 By Application
5.2.1 Aesthetic
5.2.2 Cardiovascular
5.2.3 Gastrointestinal
5.2.4 Gynecological
5.2.5 Orthopedic
5.2.6 Urological
5.2.7 Other Applications
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 GE Company (GE Healthcare)
6.1.3 Intuitive Surgical Inc.
6.1.4 Koninklijke Philips NV
6.1.5 Medtronic PLC
6.1.6 Olympus Corporation
6.1.7 Siemens Healthineers
6.1.8 Smith & Nephew
6.1.9 Stryker Corporation
6.1.10 Zimmer Biomet Holdings Inc.
6.1.11 Johnson & Johnson Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Sweden Minimally Invasive Surgery Devices Industry Segmentation
Minimally invasive surgical devices refer to electrosurgical systems, robot-assisted surgical systems, and surgical equipment which are used during a minimally invasive procedure. Minimally invasive surgery refers to any surgical procedure that is performed through tiny incisions instead of a large opening, leading to quicker recovery, minimal blood loss, and less pain than traditional open surgery.
The Swedish market for minimally invasive surgery devices is segmented by product (handheld instruments, guiding devices, electrosurgical devices, endoscopic devices, laparoscopic devices, monitoring and visualization devices, ablation devices, laser-based devices, robotic-assisted surgical systems, and other MIS devices) and application (aesthetic, cardiovascular, gastrointestinal, gynecological, orthopedic, urological, and other applications). The report offers the value (in USD million) for all the above segments.
By Product | ||||
Handheld Instruments | ||||
| ||||
Electrosurgical Devices | ||||
Endoscopic Devices | ||||
Laproscopic Devices | ||||
Monitoring and Visualization Devices | ||||
Ablation Devices | ||||
Laser-based Devices | ||||
Robotic-assisted Surgical Systems | ||||
Other MIS Devices |
By Application | |
Aesthetic | |
Cardiovascular | |
Gastrointestinal | |
Gynecological | |
Orthopedic | |
Urological | |
Other Applications |
Sweden Minimally Invasive Surgery Devices Market Research FAQs
What is the current Sweden Minimally Invasive Surgery Devices Market size?
The Sweden Minimally Invasive Surgery Devices Market is projected to register a CAGR of 6.5% during the forecast period (2024-2029)
Who are the key players in Sweden Minimally Invasive Surgery Devices Market?
Abbott Laboratories, GE Company (GE Healthcare), Koninklijke Philips NV, Medtronic PLC and Olympus Corporation are the major companies operating in the Sweden Minimally Invasive Surgery Devices Market.
What years does this Sweden Minimally Invasive Surgery Devices Market cover?
The report covers the Sweden Minimally Invasive Surgery Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Sweden Minimally Invasive Surgery Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Sweden Minimally Invasive Surgery Devices Industry Report
Statistics for the 2024 Sweden Minimally Invasive Surgery Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Sweden Minimally Invasive Surgery Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.