The tire changing machine market is part of the automobile industry. These devices simplify tyre replacement and maintenance. Several factors affect market dynamics. These reflect shifting client needs and technological advances.
Desire for enhanced tire-changing productivity and speed drives market dynamics. As the automotive industry grows and vehicle ownership rises, fast, easy tire replacements are in demand. This has led to the development of tire change equipment with touchless technology, robotic arm assistance, and automatic bead loosening. These technologies enhance safety, speed, and personnel efficiency during tire-changing.
Technological advances are vital to tire changing machine market dynamics. Tire changers are increasingly user-friendly and complicated due to digitalization and automation. Tire-changing devices with touchscreens, sensors, and precise controls make the process easy. These technologies appeal to car specialists and DIYers. Such cutting-edge equipment enables changing tires faster and reduces human error, ensuring precise and accurate tire installation and balance.
The market dynamics and types of cars serviced are also linked. The automotive industry is shifting toward hybrid and electric automobiles (EVs), thus tire changing equipment are being modified to meet their demands. Electric vehicles (EVs) have tires of different sizes, structures, and handling capabilities than internal combustion engine cars. Thus, manufacturers must provide tire changing devices that can handle electric car tire issues. This makes the equipment suitable and efficient in this growing vehicle industry segment.
Environmental issues are also affecting the tire changing equipment industry. As sustainability becomes increasingly essential across all sectors, including the car industry, environmentally friendly and energy-efficient solutions are needed. Manufacturers are adding energy-saving technology to tire changing equipment to comply with global carbon reduction goals. Improved motor efficiency and standby modes are included. The development of tire-changing technology that reduces waste and encourages recycling shows the industry's commitment to environmental responsibility.
The aftermarket is crucial to the tire changing machine business. Because more automobiles are becoming older and more tires need to be changed, independent garages, tire shops, and service centers are witnessing a surge in demand for tire changing equipment. Tire changing equipment for a range of vehicle types and sizes is a hallmark of the aftermarket business. Manufacturers and suppliers in this area must respond to market developments and provide flexible, adaptable equipment to meet aftermarket customers' needs.
Innovation and adaptation to improved tire technology are among the industry's problems. Run-flat tires, low-profile tires, and other specialist tire designs need tire changing gear to evolve. Manufacturers must spend in R&D to ensure their machinery can manage changing tire technology. This will keep their tire-changing equipment compatible and efficient.
To conclude, technology, vehicle industry developments, environmental concerns, and aftermarket dynamics affect the tire changing machine market. Manufacturers in this industry must be adaptable and open to these aspects and innovate to meet the changing needs of automobile professionals and consumers. As the automotive industry evolves, tire changing equipment will be crucial to vehicle tire care.
Minimally-invasive Surgery Devices Market Size was valued at USD 12.9 Billion in 2022. The minimally-invasive surgery devices market industry is projected to grow from USD 14.06 Billion in 2023 to USD 28.483 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.20% during the forecast period (2023 - 2032). The rise in the prevalence of chronic diseases like gastrointestinal illness, kidney disease, heart disease, and respiratory illness, the increase in funding from private and public organizations for the construction of healthcare infrastructure, the rise in demand for minimally invasive surgery, and technological developments in the field of minimally invasive surgery are the primary market drivers driving the growth of the minimally-invasive surgery devices market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The increased prevalence of chronic illnesses is expected to raise the need for minimally invasive surgery equipment. Long-term illnesses known as chronic diseases are often incurable but occasionally treatable and controllable. A few longer-lasting chronic infections increase the risk of cancer, whereas a changing lifestyle, bad eating habits, and inability to maintain a healthy weight are the major causes of chronic diseases. As people become more aware of this issue, there is an increasing need for minimally invasive surgical tools. Less scarring, less post-operative discomfort, shorter hospital stays, speedier recovery times, and less immune system stress are all common outcomes for patients who have this kind of surgery. For instance, a research report released by American Action Forum in September 2020 revealed that the prevalence and expense of chronic disease in the United States are growing and would continue to rise as the disease's prevalence among children and young adults rises. Chronic disease is a major healthcare problem in the United States, where its annual total cost is rising and now equals $3.7 trillion, or around 19.6 percent of the country's GDP. Thus, the market CAGR for minimally invasive surgery technologies is expanding as chronic diseases become more common.
Minimally invasive surgery has replaced traditional surgery as the standard surgical method. Surgery that requires little to no incision is more precise and is helped by video. These procedures preserve the organ's natural structure while causing less scarring and smaller incisions, all without compromising the cellular layers that make up the organ. Carbon dioxide is additionally utilized in minimally invasive surgery to widen the abdominal cavity and lessen blood loss. Additionally, minimally invasive procedures have reduced post-operative pain, which adds to their rising appeal.
A crucial trend that is becoming more and more popular in the market for minimally invasive surgery devices is technological improvement. As science and technology have advanced and people's living standards have improved, there has been an increase in the need for special medical care and high-quality therapy. The utilization of minimally invasive surgery (MIS) techniques for performing complex surgical procedures has increased as a result of this development. The development of new technological solutions, such as improvements in optics, equipment, materials, robotics, computer systems, and others, is a key emphasis for major firms in the market for minimally invasive surgery devices. For instance, Ethicon, a US-based advanced medical device manufacturer for open and minimally invasive surgical procedures, announced an ECHELON+ stapler with GST reloads in March 2021. Ethicon is a member of the Johnson & Johnson Medical Devices Companies. A new motor with dynamic firing, which adjusts firing speed in thick tissue to improve compression, and gripping surface technology (GST) reloads are two features of this technology. GST reloads provide more consistent compression to better capture and make staples. Thus, driving the minimally-invasive surgery devices market revenue.
The minimally-invasive surgery devices market segmentation, based on type includes Handheld Instruments, Inflation Devices, Cutter Instruments, Guiding Devices, Electrosurgical Devices, Auxiliary Devices. The handheld instruments segment dominated the market. Handheld instruments lessen the harm done to extraneous tissues, hastening the patient's recuperation while minimizing pain and other negative effects. Most portable surgical instruments used in minimally invasive procedures are single-use items. Additionally, with the aid of instrument triangulation, handheld instruments facilitate access during surgery, reducing the possibility of errors. It is expected that the benefits of handheld instruments would greatly raise consumer demand.
The minimally-invasive surgery devices market segmentation, based on end-user, includes Ambulatory Surgical Centers, Hospitals & Clinics and Others. The hospitals & clinics category generated the most income due to the rise in the prevalence of chronic illnesses among the senior population, there has been a rise in the number of patients being admitted to hospitals to treat these illnesses.
Figure 1: Minimally-invasive Surgery Devices Market, by Distribution channel, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The minimally-invasive surgery devices market segmentation, based on application, includes Cardiac Surgery, Gastrointestinal Surgery, Orthopedic Surgery, Vascular Surgery, Gynecological Surgery, Urological Surgery, Thoracic Surgery, Cosmetic Surgery and Dental Surgery. The orthopedic surgery category generated the most income. Hip and knee replacement surgeries frequently use minimally invasive techniques. Surgical techniques with fewer operating and postoperative problems and shorter hospital stays are preferred by hospitals and doctors. On the other hand, patients want for surgical procedures that lessen trauma and promote quick healing.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American minimally-invasive surgery devices market area will dominate this market. The prevalence of chronic illnesses linked to lifestyle choices is increasing, and minimally invasive procedures are becoming more and more popular in comparison to more invasive ones. Growing population and the number of surgeries performed as a result are two factors contributing to rising demand for surgical instruments. Furthermore, there is a high frequency of chronic illnesses, such as cancer, neurological disorders, and CVDs.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: MINIMALLY-INVASIVE SURGERY DEVICES MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe minimally-invasive surgery devices market accounts for the second-largest market share. This is linked to an increase in surgical procedures, an aging population more susceptible to chronic illnesses, and increased knowledge of the range of treatment options. Additionally, the prevalence of chronic diseases can be linked to rising overall surgery rates. Further, the German minimally-invasive surgery devices market held the largest market share, and the UK minimally-invasive surgery devices market was the fastest growing market in the European region
The Asia-Pacific Minimally-invasive surgery devices Market is expected to grow at the fastest CAGR from 2023 to 2032. This is because more people are choosing cosmetic surgical operations, there are more consumers in general, more accidents are happening, and chronic diseases are more common. According to the World Economic Forum, India and China are the two nations with the greatest populations, and as a result, they also have the largest patient populations. Moreover, China’s minimally-invasive surgery devices market held the largest market share, and the Indian minimally-invasive surgery devices market was the fastest growing market in the Asia-Pacific region.
Minimally-invasive Surgery Devices Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the minimally-invasive surgery devices market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, minimally-invasive surgery devices industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the minimally-invasive surgery devices industry to benefit clients and increase the market sector. In recent years, the minimally-invasive surgery devices industry has offered some of the most significant advantages to market. Major players in the minimally-invasive surgery devices market attempting to increase market demand by investing in research and development operations include Abbott, GE Healthcare, Medtronic, Inc, Ethicon, Inc., Intuitive Surgical, Inc, Siemens Healthcare GmbH ArthroCare Corporation, DePuy Synthes, NuVasive, Inc., Biomet, Inc, Norwood Medical, KEBOMED Europe AG, Fortimedix Surgical, Freudenberg Medical, and others.
Branded generic pharmaceuticals, diagnostic devices and methods, and newborn, child, and adult nutritional supplements are just a few of the many healthcare products that Abbott Laboratories identifies, develops, produces, and promotes. The company also offers a variety of medical devices for heart failure, electrophysiology, neuromodulation, and rhythm control. The company also offers nutritional products, minerals, and dietary supplements.
A medical device firm called NuVasive Inc. provides procedurally integrated, minimally invasive spine treatments. The company's products are concentrated on the treatment of conditions such as early-onset scoliosis, lumbar spinal stenosis, degenerative spondylolisthesis, cervical disc degeneration, and limb length disparity, among others. The business offers the eXtreme Lateral Interbody Fusion procedure (XLIF), a platform for minimally invasive surgery that enables surgeons to carry out a variety of minimally invasive spine treatments in all regions of the spine and using different surgical techniques. It uses its XLIF platform for procedures on the cervical, thoracic, and lumbar spine from the anterior, including lateral, and posterior.
Key Companies in the minimally-invasive surgery devices market include
Minimally-invasive Surgery Devices Industry Developments
January 2023:The i20c video endoscope series, the new premium video processor, and the PENTAX Medical INSPIRA all received CE certification. The new video processor raises the bar with the new i20c video endoscope generation while maintaining compatibility with recent endoscope models from PENTAX Medical.
September 2022:Medical device manufacturer Titan Medical Inc. and world-renowned healthcare technology pioneer Medtronic plc have inked a Definitive Agreement to jointly develop and market novel surgical solutions for single access robotic surgery (RAS).
February 2021:In Germany, Versius Surgical Robotic System was made available, according to CMR Surgical. Despite being used in more than a thousand clinical instances around Europe, Australia, and India, Klinikum Chemnitz in Saxony is the first hospital in Germany to install Versius. Versius system deployment is planned at Klinikum Chemnitz for a range of laparoscopic (keyhole) procedures.
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