The new report by Expert Market Research titled, ‘Global Laparoscopy Devices Market Size, Share, Scope, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global laparoscopy devices market, assessing the market based on its segments like products, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 14.3 billion
- Forecast CAGR (2023-2028): 6.3%
- Forecast Market Size (2028): USD 20.3 billion
The global laparoscopy devices industry is driven by the growing incidences of morbid obesity, leading to an increased demand for bariatric surgery, such as gastric bypass, sleeve gastrectomy, and laparoscopic gastric banding.
Increasing incidence and prevalence of diseases such as colorectal cancer are also expected to drive the market. In addition, the initiation of robot-assisted surgery could be a key factor driving the number of laparoscopic surgeries performed for different surgeries such as prostatectomy, cancer, hernia repair, and colorectal cancer.
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The market is being driven by an increase in the use of minimally invasive operations over traditional methods, an increase in the number of laparoscopic bariatric procedures, and other surgical-related technology breakthroughs. Therefore, an increase in the number of laparoscopic surgeries performed every year is expected to drive the demand for and subsequent consumption of laparoscopy devices in the global market.
Laparoscopy Devices Industry Definition and Major Segments
A laparoscope is a long, thin tube with high-intensity light on the front and a high-resolution camera on the back. As it moves into the abdomen, the camera sends photos to a monitor. Endometriosis, ectopic pregnancy, pelvic inflammatory disease (PID), cysts, and fibroids are all diagnosed and treated by laparoscopy. Laparoscopy devices are commonly employed in the diagnosis and treatment of a variety of ailments, including prostatectomy, pancreatic cancer, and gastrointestinal disorders.
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The laparoscopy devices market, on the basis of laparoscopy-products, is divided into:
- Energy Devices
- Robot-Assisted Surgical Systems
- Suction or Irrigation Systems
- Closure Devices
- Hand Instruments
- Access Devices
The laparoscopy devices market can be broadly categorised based on its application into:
- General Surgery
- Hernia Repairs
- Antireflux Surgeries
- Bariatric Surgery
- Gastric Bypass
- Sleeve Gastrectomies
- Gastric Banding
- Gynaecological Surgery
- Urological Surgery
- Colorectal Surgery
On the basis of region, the industry is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Laparoscopy Devices Market Trends
Small incisions reduce postoperative pain and speed recovery, resulting in widespread acceptance of these procedures, which drives the research and development of laparoscopic device. The market is expected to grow as more people become aware of the advantages of minimally invasive operations and laparoscopic treatments.
In addition, increasing healthcare expenditure may also favour the entry of both new and old players. The industry is growing due to an increase in the number of advanced, well-equipped hospitals and a large number of surgical procedures.
Manufacturers are collaborating with researchers to develop high precision instruments, such as ligation clip appliers, trocars, and endoscopes, to improve clinical outcomes. Companies in the laparoscopy devices market are developing reusable instruments that are suitable for complex, minimally invasive procedures. A large population base, increased affordability, and improvement in healthcare facilities are expected to fuel the growth of the market.
Key Market Players
The major players in the market are Conmed Corporation, Johnson & Johnson Services, Inc., Boston Scientific Corporation, Karl Storz SE & Co. Kg, Olympus Corporation, B. Braun Melsungen AG, Smith & Nephew Plc., Stryker Corporation, Medtronic Plc (Covidien), and Richard Wolf Gmbh.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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