Portland, OR, May 27, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Indian Laparoscopy Devices Market generated $621.4 million in 2019, and is expected to garner $729.2 million by 2027, witnessing a CAGR of 6.9% from 2020 to 2027. The report provides an extensive analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Surge in preference for minimally invasive procedures, rise in healthcare expenditure, and growth in the number of bariatric procedures using laparoscopes drive the growth of the Indian laparoscopy devices market. In addition, the rise in incidences of colorectal cancer and technological advancements further fuel the growth of the market. However, lack of skilled professionals hinders the market growth. On the other hand, increase in adoption of robot-assisted laparoscopy devices presents new opportunities in the market.
Covid-19 Scenario:
- The COVID-19 pandemic has negatively impacted the laparoscopy device market. The manufacturing services and other operations of laparoscopy devices were suspended during the initial phase of lockdown.
- In addition, some of the laparoscopic and surgical services have been postponed during the coronavirus pandemic.
The report offers detailed segmentation of the Indian laparoscopy devices market based on product, application, and end user.
Based on product, the energy devices segment held the highest share in 2019, accounting for around one-fourth of the total market share, and is expected to maintain its lead position during the forecast period. However, the robot-assisted surgical systems segment is projected to portray the highest CAGR of 7.8% from 2020 to 2027.
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Based on application, the general surgery segment accounted for the highest market share in 2019, accounting for more than one-fourth of the Indian laparoscopy devices market, and is estimated to continue its leadership status during the forecast period. However, the bariatric surgery segment is expected to witness the fastest CAGR of 8.1% from 2020 to 2027.
Based on end users, the hospitals segment contributed to the highest share in 2019, accounting for nearly half of the market, and is estimated to maintain its dominant share in terms of revenue by 2027. However, the clinics segment is expected to portray the highest CAGR of 7.1% during the forecast period.
Leading players of the Indian laparoscopy devices market analyzed in the research include Boston Scientific Corporation, Stryker Corporation, Johnson & Johnson (Ethicon, Inc.), Olympus Corporation, Medtronic PLC. (Covidien), Karl Storz GmbH & Co. KG, Smith & Nephew PLC., Richard Wolf GmbH, B. Braun Melsungen AG (Aesculap, Inc.), and Dolphin Surgicals.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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