Farmington, Feb. 16, 2023 (GLOBE NEWSWIRE) -- The global Laparoscopy Instruments Market was valued at US$ 14.13 Billion in 2022 and is projected to reach USD 25.26 Billion by 2030, growing at a CAGR of 8.7% from 2023 to 2030. Laparoscopy, commonly known as "keyhole surgery," is a sort of minimally invasive surgery that enables doctors to operate within the pelvis and abdomen without making larger incisions. Laparoscopic energy devices and endomechanical instruments are available on the market for laparoscopic devices. Ultrasonic waves, high frequencies, and microwaves are emitted by energy instruments to aid surgeons cut tissue and organs for the operation.
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Typically, endomechanical devices are used to connect, remove, or attach abdominal organs or tissue. Both surgeons and patients are growing increasingly interested in laparoscopic treatments, which is a major factor in the market's expansion. The market is also expanding due to factors such as the increase in surgically-required medical problems and laparoscopic procedures. The expansion of the market is also anticipated to be bolstered by the development of new technologies by industry participants that could alleviate problems that now arise during laparoscopic procedures.
Laparoscopy Instruments Market Recent Developments:
- January 2022 - Microline Surgical introduced a new sales team to the Southeast region to strengthen product distribution across the United States.
- November 2021 - Erbe Elektromedizin GmbH acquired Maxer Endoscopy, which manufactures a wide range of endoscopic systems and instruments for laparoscopic and otolaryngological surgeries.
- September 2021 - Olympus Corporation launched the POWERSEAL device. The POWERSEAL device can be used in open or laparoscopic surgery.
Laparoscopy Instruments Market Segmentation Analysis:
The remaining equipment in the energy devices category include generators, vessel sealers, and other devices. In 2021, the energy devices sector held the biggest market share, and it is expected to grow at a quick CAGR throughout the forecast period. The highest share of this market may be attributed to the fact that electrosurgical devices are advancing and healthcare facilities are placing a higher emphasis on capital equipment purchases.
In 2021, disposables made up a significant portion of the market. Numerous discussions occur between medical experts regarding whether to use disposable or reusable laparoscopic devices. Laparoscopy devices are inexpensive, safe, and simple to use, which is why they account for a significant portion of the disposable market.
In 2021, general surgery held the largest market share, and it is anticipated to increase at a rapid CAGR during the period of forecast. General surgery encompasses a variety of procedures, including appendectomies, cholecystectomies, hernia repairs, and bariatric surgery. The segment's largest proportion is attributable to factors such as the increase in general surgeries and the number of persons with acute appendicitis.
In 2021, hospitals and ASCs dominated the global healthcare market. The category is dominated by laparoscopic procedures performed in hospitals and outpatient surgical centres, where a high number of patients go.
Regional Outlook:
In terms of geographies, the North American market was worth USD 7.1 billion in 2021. This region held the largest share of the worldwide laparoscopy instruments market in 2021, and this trend is anticipated to continue throughout the remainder of the forecast period. The increase in surgical operations is the primary factor in the expansion of the market in the region. In addition, both physicians and patients are becoming increasingly interested in laparoscopic surgery, which has led to an increase in the number of individuals utilising laparoscopic devices. In addition, the expansion of the market in the United States is aided by the presence of important companies such as Medtronic, BD, and CONMED.
During the period between 2022 and 2029, the Asia-Pacific market is anticipated to expand at the quickest rate. The reason for the greatest CAGR is that disorders requiring surgery, such as colectomy, acute appendicitis, and gallstones, are growing more prevalent.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | 8.7% from 2023 to 2030 |
| Market Size in 2022 | USD 14.13 Billion |
| Revenue Forecast by 2030 | USD 25.26 Billion |
| By Type | Energy Devices, Smoke Evacuation Systems, Closure Devices, Insufflation Devices, Suction/Irrigation Devices, Handheld instruments, Trocars, Accessories |
| By Usage | Reusable, Disposable |
| By Application | General Surgery, Urology, Gynecology, Others |
| By End-user | Hospitals & ASCs, Specialty Clinics and Others |
| By Companies | Microline Surgical (U.S.), KARL STORZ SE & Co. KG (Germany), BD (U.S.), Medtronic (Ireland), CONMED (U.S.), Olympus Corporation (Japan), Erbe Elektromedizin GmbH (Germany), Stryker (U.S.), ETHICON (Johnson & Johnson Services, Inc.) (U.S.), LIVSMED, INC. (South Korea), and Others |
| Base Year | 2022 |
| Historical Year | 2017 to 2021 |
| Forecast Year | 2023 to 2030 |
Market Drivers:
Laparoscopic treatments cause less harm, which reduces the cost of care before and after surgery and the length of hospital stay. Patients recover more quickly from these operations because they lose less blood and experience fewer complications afterwards. Additionally, health insurance policies in several nations are increasingly covering minimally invasive surgeries. Due to these factors, patients are now more likely to choose for less invasive procedures. Every year, over 15 million laparoscopic procedures are performed worldwide, and this figure is likely to increase significantly in the next years.
Market Restraints:
The United States government said in August 2012 that it would lower Medicare expenditures by USD 716 billion over the next decade (till 2022). As part of its healthcare reform, the government stated it will slash funding to Critical Access Hospitals (CAH) and Cancer Hospitals by 2%. (beginning in April 2013) In addition, the government placed a 2.3% excise tax on domestic sales of taxable medical equipment beginning in 2013. (under the Patient Protection and Affordable Care Act, 2010). Industry experts fear that these changes will negatively impact the cash flow of U.S. medical device producers. This decrease in Medicare expenditures is expected to affect reimbursement rates for medical procedures.
Market Opportunity:
In emerging markets, the healthcare sector is experiencing rapid expansion. The economies of the BRICS nations (Brazil, Russia, India, China, and South Africa) are among the fastest-growing in the world. This is because market participants in these countries are taking more public and private initiatives, there are few barriers to trade, healthcare infrastructure is continuously improving, the number of patients is increasing, healthcare costs are rising, market leaders are improving their distribution networks, and there is more medical tourism in these countries. Numerous individuals travel to underdeveloped nations for surgery because they can receive high-quality care for less money than in developed nations.
Laparoscopy Instruments Market Key Segments Covered:
Top Market Players:
Microline Surgical (U.S.), KARL STORZ SE & Co. KG (Germany), BD (U.S.), Medtronic (Ireland), CONMED (U.S.), Olympus Corporation (Japan), Erbe Elektromedizin GmbH (Germany), Stryker (U.S.), ETHICON (Johnson & Johnson Services, Inc.) (U.S.), LIVSMED, INC. (South Korea), and Others.
By Type
- Energy Devices
- Smoke Evacuation Systems
- Closure Devices
- Insufflation Devices
- Suction/Irrigation Devices
- Handheld instruments
- Trocars
- Accessories
By Usage
- Reusable
- Disposable
By Application
- General Surgery
- Urology
- Gynecology
- Others
By End-user
- Hospitals & ASCs
- Specialty Clinics and Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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