Laparoscopy Devices Market Worth $21.83 Billion by 2030 at a CAGR of 7.81%

New York, United States, June 14, 2022 (GLOBE NEWSWIRE) -- Laparoscopy devises Market Worth $21.83 Billion by 2030 at a CAGR of 7.81%

Global Laparoscopy Devices Market accounted for up to USD 10.83 billion in 2020 and is likely to reach around USD 21.83 billion by 2030, fostering at a CAGR of 7.81%. The rising prevalence of chronic or NCD (non-communicable diseases) and the rising awareness of undergoing minimally invasive surgeries among patients worldwide are augmenting the market growth.  

Laparoscopy is regarded as a process that helps to diagnose some of the most critical conditions that develop inside the pelvis or abdomen. It is also used to perform surgical procedures, like a biopsy, removal of a damaged or diseased organ, etc. Laparoscopy devices are widely used in minimally invasive surgical procedures as it reduces the risk of extra bleeding and also assist in the proper maintenance of hemostasis. These devices are implemented in the surgery of various diseases like pancreatic cancer, gastrointestinal disorders, prostatectomy, cholecystectomy, etc. Moreover, the Laparoscopy devices are highly preferred by the surgeons due to the higher level of precision offered by these devices as compared to others. For End-User, the ‘Hospital’ segment significantly led the market growth with a share of nearly 61.6%. In terms of region, the territory of North America continued its sheer dominance throughout the period (2020-2030) with a share of around 34.6% of the entire market.

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The report crafted by Strategic Market Research (STRATEGIC MARKET RESEARCH) on the Laparoscopy Devices Market is segregated based on:

Type of Product

Ø Fibre Laparoscopes
Ø Energy Devices
Ø Video Laparoscopes
Ø Closure Devices
Ø Medical Laparoscopic Robots
Ø Access Devices
Ø Accessories
Ø Hand Instruments
Ø Suction/Irrigation Pumps
Ø Insufflators

Applications:

Ø Gynaecological Surgery
Ø General Surgery
Ø Pediatric Surgery
Ø Bariatric Surgery
Ø Urological Surgery
Ø Colorectal Surgery

End-User:

Ø Ambulatory Surgical Centers
Ø Hospitals
Ø Clinics
Ø Others

Regions:
North America

• Mexico
• Canada
• United States of America
• The rest of North America

Europe

• Deutschland
• Switzerland
• Italy
• Finland
• Russia
• UK
• Poland
• The rest of Europe

Asia Pacific

• Japan
• India
• China
• Singapore
• South Korea
• Australia
• Malaysia
• New Zealand
• The rest of APAC
  
  

LAMEA

• UAE
• Brazil
• Saudi Arabia
• Argentina
• The rest of LAMEA
  
  

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The most prominent factors spearheading the market growth:

• The rise of Non-communicable or chronic diseases like diabetes, obesity, etc., is the major factor proliferating the market growth. The International Diabetes Federation has announced that each year around 537 million people aged between (20 to 79) suffer from diabetes all across the globe. In 2030, and 2045, this number is expected to reach around 643 million and 783 million, respectively. Also, the National Health Council stated that around 133 million people in the United States suffer from chronic/non-communicable diseases each year. In 2020, around 157 million Americans suffered from chronic diseases, out of which nearly 81 million people showed multiple chronic disease symptoms. 
  
  
• Apart from the rapidly growing cases of chronic diseases, the increasing awareness of undergoing MI surgical procedures (Laparoscopic procedures, Hysterectomy. Myomectomy, etc.) Are proliferating the market growth. Strategic Market Research conducted a global survey where it was found that around 13 million laparoscopic procedures are performed every year. Also, the National Library of Medicine deciphered that in the United States, 1 out of every 9 women undergoes a hysterectomy in due course of her lifetime, and nearly 600k hysterectomy procedures are carried out all across the country each year.
  
  

For Type of Product, the ‘Energy Devices’ segment spearheaded the market growth.

In terms of Type of Product, the market is significantly demarcated into (Fibre Laparoscopes, Energy Devices, Video Laparoscopes, Closure Devices, Medical Laparoscopic Robots, Access Devices, Accessories, Hand Instruments, Suction/Irrigation Pumps and Insufflators). The ‘Energy Devices’ segment led the market growth comprehensively in 2020 with an overall share of around 21.51%, owing to the rise in the number of colorectal cancer cases. The World Cancer Research Fund International (WCRFI) announced that colorectal malignancy is the 3rd most common type of cancer among men and women, and in 2020, around 1.9 million new cases of colorectal cancer were recorded. Also, the American Cancer Society, on the other hand, asserted that in 2020 around 1,880,725 people in the USA were diagnosed with colorectal cancer, out of which 1,148,515 cases were of colon cancer, and 732,210 cases constituted rectal cancer, respectively.

In the case of Applications, the ‘General Surgery’ segment proliferated the market growth in 2020 with the highest share.

Based on Applications, the market is sub-divided into Gynaecological Surgery, General Surgery, Pediatric Surgery, Bariatric Surgery, Urological Surgery, and Colorectal Surgery. The ‘General Surgery’ segment led the market growth in 2020 with a share of approximately 22.8% and a CAGR of 7.79% due to the rise in the number of patients suffering from a hernia, increasing cases of surgical removals of gall bladder and appendix. Hernia repair is a common surgical procedure conducted in the United States. Nearly 1 million hernia repair surgeries are conducted all across the country each year out of which 800k are related to the repair of inguinal hernias, and the rest 200k are other types of hernias.

For End-User, the ‘Hospital’ segment successfully led the market growth.

For End-User, the market bifurcation is done on the basis of Ambulatory Surgical Centers, Hospitals, Clinics, and Others. The ‘Hospital’ segment dominated with a mammoth share of around 61.6% in 2020. Due to the relative ease of handling emergencies and the availability of a broad range of treatment options, the hospitals have witnessed a greater flow of patient admissions for laparoscopic surgeries over the years, which in turn is augmenting the growth of this segment.

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North America dominated the market significantly throughout the prevised time frame of 2020-2030.

In 2020, North America led the regional market growth constituting up to 34.6% of the total sales of laparoscopic devices. The increase in expenditure towards the healthcare sectors, the presence of highly skilled surgeons, and the continuous rise of chronic illnesses like obesity, diabetes, and cancer are driving the market growth of this region. The CDC has reported that in the USA, the overall expenditure for obesity-related medical devices sums up to USD 150 billion each year. Further, research conducted at Harvard University revealed that 1 out of every 3 individuals in America suffers from obesity, thereby accounting for up to 36% of the total US population.

List of some pivotal players prevailing in the Laparoscopy Devices Market:

• Stryker Corporation
• ConMed Corporation
• SCHÖLLY Fiberoptic GmbH 
• Optomic
• B. Braun Melsungen AG
• J&J
• Victor Medical Instruments Co., Ltd 
• Medtronic Plc. (Covidien)
• Olympus Corporation
• Boston Scientific Corporation
• Smith & Nephew Plc
• Karl Storz SE & CO. KG
• Intuitive Surgical 
• Richard Wolf GmbH
• Seger
• Microline Surgical, Inc. 

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Global Recent Developments:

• On 19th May 2022, Dubai Hospital introduced the Da Vinci Xi Surgical Robot to perform accurate robotic-assisted MI (Minimally Invasive) surgeries. This robot is regarded as one of the highly advanced laparoscopic surgical robots that will help to enhance the various laparoscopic surgeries performed at hospitals.
  
  

• On 5th Jan 2022, Seger introduced its highly advanced Next Generation Laparoscopic Bowel Closure Device in the market. With the help of this device, Serger has successfully completed its veterinary studies and is currently working in collaboration with Watson Medical, one of the top-most Chinese medical firms, to validate the product for further human clinical trials & FDA approvals.
  
  

• On 30th Nov 2021, Hologic acquired Bolder Surgical with an amount of nearly USD 160 million. Hologic’s acquisition of Bolder added laparoscopic vessel dividing, sealing, & dissecting devices to its surgical portfolio. , Hence, this acquisition is expected to help in the expansion of Hologic’s growing laparoscopic portfolio in the upcoming years.
  
  

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