Canada minimally invasive surgical (MIS) instruments market is expected to grow at a CAGR of around 6.3% during the forecast period. Canada minimally invasive surgical instruments market has been primarily driven by the increasing ageing population and non-communicable diseases in the country. The increasing number of joint replacements is boosting the demand for minimally invasive surgical instruments in Canada. For instance, according to the Canadian Institute for Health Information (CIHI), in 2016-2017, the number of hip replacements performed was 55,981 in Canada. Whereas, this number was 47,541 in 2012-2013. It represents a 17.8% rise in the number of hip replacements from the period 2012-2013 to 2016-2017.
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Ontario has the highest number of hip replacements, 18,926 in Canada in 2012-2013 and this number reached to 22,540 in 2016-2017. It was accounted for 19.1% rise in the 5 years. However, Quebec held the second position in with 9,004 hip replacements in 2012-2013. It remains to hold the second position with 10,778 hip replacements in 2016-2017 and representing a 5-year percentage change of 19.7% from the period 2012-2013 to 2016-2017. This, in turn, is expected to contribute to the adoption of minimally invasive joint replacement surgeries and thereby drives the growth of the market.
The major players in the market include Abbott Laboratories, Inc., Stryker Corp., Johnson & Johnson Services, Inc., and Medtronic plc. These companies are adopting several strategies to expand market share and gain a competitive advantage over their competitors. For instance, in June 2017, Stryker declared the acquisition of Novadaq, a Canadian imaging firm for $701 million. Novadaq's technology complements Stryker's advanced imaging portfolio that will expand its product offerings into open and plastic reconstructive surgery.
Canada Minimally Invasive Surgical Instruments Market Segmentation
By Product
- Inflation Systems
- Cutter Instruments
- Guiding Devices
- Handheld Instruments
- Stents
- Sutures
- Monitoring and Visualization Equipment
- Robotic Assisted Surgical Systems
By Technology
- Endoscopy
- Laparoscopy
- Robot-Assisted Methods
- Arthroscopic Techniques
- Ablative Methods
By Application
- Cardiac Surgery
- Colorectal Surgery
- Dermatological Surgery
- ENT Surgery
- Gastrointestinal Surgery
- Gynecological Surgery
- Lung & Respiratory Care
- Neurosurgery
- Ophthalmology
- Orthopedics
- Others
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Company Profiles
- Abbott Laboratories, Inc.
- Conavi Medical Inc.
- Edwards Lifesciences Corp.
- Johnson & Johnson Services, Inc.
- Medtronic plc
- NuMED, Inc.
- Stryker Corp.
- Teleflex, Inc.
- Terumo Medical Corp.
- Zimmer Biomet Holdings, Inc.
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