Pune, July 19, 2022 (GLOBE NEWSWIRE) -- Laparoscopic Devices Market is expected to reach US$ ~6.90 billion by 2030. Laparoscopic devices emerge as a promising option for small surgeries and boost the market at a CAGR of 7.10% from 2022 to 2030, states Growth Plus Reports.
Laparoscopy is a surgical procedure that uses a tiny cut for the procedure with minimum injuries. This growth of the market can be attributed to the increasing prevalence of problems such as uterine fibroids, and endometriosis, the increasing number of cases of hysterectomy & myomectomy procedures, and also growing awareness of improvised healthcare infrastructure in the merging countries. The rapid expansion of market players into the different regions also contributes to market growth. Furthermore, the growing supportive government policies and laws and favorable reimbursement policies help in propelling the market. Additionally, the growing geriatric population and affordability & high availability of laparoscopic devices is also a reason for the boost in the laparoscopic devices market.
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However, there are some challenges to the optimum growth of the laparoscopic devices market. These issues are the high cost of the devices and the lack of skilled professionals.
Market Drivers
The rising adoption of robotic surgeries in the global market can raise the laparoscopic devices’ market value in the near future. The adoption of advanced technology helps the physician to attain optimized output with ease & convenience. The introduction of automation/full automation in laparoscopic devices can be a great opportunity for the laparoscopic devices market and can also help to gain profits globally, thereby upsurging the market.
The global laparoscopic devices market has been analyzed from four different perspectives – Product, Application, End-User, and Region.
Excerpts from ‘By Product Segmentation’
Different products of the laparoscopic devices market have been segmented into different categories, viz.
- Energy Devices
- Laparoscope
- Insufflation Devices
- Suction/Irrigation Devices
- Internal Closure Devices
- Robot-Assisted Surgical Systems
- Hand Instruments
Energy devices lead the market with the largest revenue share. The energy devices allow rapid tissue & vessel healing and coagulation during laparoscopic surgeries. Energy devices have a wide application in bariatric surgeries such as gastric bypass, adjustable gastric band, biliopancreatic diversion with duodenal switch, and sleeve gastrectomy.
Additionally, the insufflation device segment is expected to witness a hike in the forecast period. The rising incidence of diseases such as colorectal cancer is the reason that fuels market development. For instance, according to the World Cancer Research Fund International, colorectal cancer ranked the third most common cancer among people in 2020, which was nearly 1.90 million cases. And this colorectal cancer is most commonly treated with laparoscopic surgery, thereby propelling the laparoscopic devices market.
Excerpts from ‘By Region Segmentation’
Geographically, the global laparoscopic devices market is collective in North America, Europe, Asia Pacific, and the Rest of the World (RoW)
North America leads the global market with the largest revenue share. The growth of the market in North America is attributed to the rising demand for physicians, growing elderly population, increasing cases of chronic diseases, large patient base, increasing initiatives, adoption of technological advancements, and many more.
On the other hand, Asia Pacific is expected to be the fastest-growing market for laparoscopic devices. This growth can be attributed to the growing number of advanced & improvised healthcare infrastructure hospitals and a large number of surgical procedures that are boosting the market growth in the Asia Pacific over the forecast period. Adoption of advanced technology, increasing funds & investment, and favorable reimbursement facilities are likely to drive the market in the region.
Excerpts from ‘Competitive Landscape’
Some of the prominent players operating in the global laparoscopic devices market are
- Welfare Medical Ltd
- Karl Storz SE & CO. KG
- Braun Melsungen AG
- Olympus Corporation
- Stryker Corporation
- DEAM
- ConMed Corporation
- Medtronic Plc
- Smith & Nephew Plc
- Richard Wolf GmbH
- Among others
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Report Scope & Segmentation:
| Report Coverage | Details |
| Market Size in 2021 | USD ~ 6.90 billion |
| Revenue forecast in 2030 | USD ~ 12.79 billion |
| Growth Rate | CAGR of ~ 7.10%from 2022 to 2030 |
| Base year for estimation | 2021 |
| Forecast period | 2022-2030 |
| Segments covered | Products, Application, End User |
| Regional scope | North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
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