Dublin, Aug. 19, 2022 (GLOBE NEWSWIRE) -- The "Laparoscopy and Endoscopy Devices Market - A Global and Regional Analysis: Focus on Therapeutic Area, End User, Product Type, and Country-Wise Analysis - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The global laparoscopy and endoscopy devices market was valued at $23,809.2 million in 2021 and is projected to reach $38,942.2 million by the end of 2031, growing at a CAGR of 4.94% during the forecast period 2022-2031.
The global laparoscopy and endoscopy devices market is a huge market comprised of various endoscopy, laparoscopy, and capsule endoscopy devices.
These include endoscopes and endoscopic systems, video and visualization systems, instruments and accessories, workstations and data recorders, capsule, laparoscopes and systems, energy devices, insufflators, suction or irrigation devices, closure devices, hand instruments, and access devices among others.
Global Laparoscopy and Endoscopy Devices Market Drivers
The market is driven by factors such as the increasing prevalence of chronic diseases, several benefits of minimally invasive Surgeries Over Invasive Open Surgeries, Growing Geriatric Population, Rapidly Increasing healthcare costs, technological advancements in minimally invasive surgeries, and the growing number of surgical procedures.
Minimally invasive surgeries offer greater benefits as compared to conventional open surgery approaches. These benefits may include smaller incisions, faster recovery times, less pain, scarring, and better accuracy than their counterparts. Due to the benefits of minimally invasive surgeries, the popularity of these surgeries has increased tremendously after the 70s (the time these surgeries were developed).
Currently, laparoscopic surgery (a minimally invasive procedure) has become a gold standard for procedures ranging from gallbladder removal, bariatric surgeries as well as colon cancer removal.
Global Laparoscopy and Endoscopy Devices Market Challenges
The factors restraining the market growth of laparoscopy and endoscopy devices market include the shortage of skilled professionals and the lack of reimbursement frameworks in emerging markets.
On an institutional level, surgeons often have to face a dearth of enabling functional equipment and devices during a surgery which significantly impedes the uptake of minimally invasive surgeries. Also, surgeons often resort to open surgical procedures due to lack of skilled nurses to assist surgeons in MIS procedures. Also, there is the shortage of required resources in public referral hospitals.
Global Laparoscopy and Endoscopy Devices Market Opportunities
The opportunity for growth of the global laparoscopy and endoscopy devices market lies in the opportunity to engage in mergers and acquisitions to diversify endoscopic portfolio and investments and regional expansion.
Impact of COVID-19 on the Global Laparoscopy and Endoscopy Devices Market
The COVID-19 pandemic had thrusted the global laparoscopy and endoscopy devices market. The impact of the pandemic global laparoscopy and endoscopy devices market has been moderate. One of the major impacts of COVID-19 on the global laparoscopy and endoscopy were the shutdown of elective surgeries and delayed installations which had an immediate negative impact on the market's growth in 2020.
Market Segmentation
Hospitals accounts for the major share in the global laparoscopy and endoscopy devices market. The growth in the hospitals segment is primarily driven by the uptake of laparoscopic and endoscopic procedures by private hospitals.
North America and Europe are two of the largest markets for laparoscopy and endoscopy while developing countries are expected to register strong growth in their adoption shortly.
Competition Synopsis
In the past few years, the global laparoscopy and endoscopy devices market has witnessed several strategic and technological developments undertaken by the different market players to attain their respective market shares in this emerging domain.
Some of the strategies covered in this segment are funding activities, mergers and acquisitions (M&A), partnerships, alliances, business expansions, regulatory and legal activities, and new offerings. The preferred strategy for companies has been new offerings of products followed by partnerships, alliances, and business expansions.
How This Report Can Add Value
Assuming that the reader is a developer of laparoscopy and endoscopy devices, they will be able to do the following:
- Understand their position as compared to some of the key players in the market
- Stay updated with novel technology integration, features, and the latest developments in the market
- Understand the impact of COVID-19 on the adoption of laparoscopy and endoscopy devices and the entry barriers as a result of it
- Gain insights into which regions to target globally
- Gain insights into the end-user perception concerning the adoption of laparoscopy and endoscopy devices
- Identify some of the key players in the market and understand their valuable contribution
Key Topics Covered:
1 Market
1.1 Market Outlook
1.1.1 Product Definition
1.1.2 Inclusion and Exclusion Criteria
1.1.3 Global Market Scenario
1.1.3.1 Realistic Growth Scenario
1.1.3.2 Optimistic Growth Scenario
1.1.3.3 Pessimistic/Conservative Growth Scenario
1.2 Industry Outlook
1.2.1 Key Trends
1.2.1.1 Growing Implementation of 4K Technology in Endoscopy and Laparoscopy
1.2.1.2 Growing Adoption of Robotics in Endoscopic and Laparoscopic Procedures
1.2.1.3 Growing Focus on Infection Control in Medical Facilities
1.2.1.4 Growing Focus of OEM on Customized Device Manufacturing
1.2.2 Opportunity Analysis
1.2.2.1 Short-Term Opportunity
1.2.2.2 Long-Term Opportunity
1.2.3 Patent Analysis
1.2.3.1 By Year
1.2.3.2 By Country
1.2.4 Ongoing Clinical Trials
1.3 Impact of COVID-19 on Global Laparoscopy and Endoscopy Devices Market
1.3.1 Impact on Device Adoption
1.3.2 Impact on Manufactures
1.4 Competitive Analysis
1.4.1 Patient Compliances and End-User Perceptions
1.4.2 Comparison Between Open Surgery and Endoscopic Surgery
1.5 Business Dynamics
1.5.1 Overview
1.5.2 Business Drivers
1.5.2.1 Increasing Prevalence of Chronic Diseases
1.5.2.2 Benefits of Minimally Invasive Surgeries Over Invasive Open Surgeries
1.5.2.3 Growing Geriatric Population
1.5.2.4 Rapidly Increasing Healthcare Costs
1.5.2.5 Technological Advancements in Minimally Invasive Surgeries
1.5.3 Business Restraints
1.5.3.1 Lack of Skilled Professionals
1.5.3.2 Lack of Reimbursement Frameworks in the Emerging Markets
1.5.4 Business Opportunities
1.5.4.1 To Engage in Mergers and Acquisitions To Diversify Endoscopic Portfolio
1.5.4.2 Investment and Regional Expansion Opportunities
2 Global Laparoscopy and Endoscopy Device Market (by Therapeutic Area)
2.1 Overview
2.2 Opportunity Assessment
2.3 Growth Share Matrix
2.4 General Surgery
2.5 Cardiac Surgery
2.6 Gynecology Surgery
2.7 Orthopedic Surgery
2.8 Urology Surgery
2.9 Neurological Surgery
2.1 Others
3 Global Laparoscopy and Endoscopy Devices Market (by End User)
3.1 Overview
3.2 Opportunity Assessment
3.3 Growth Share Matrix
3.4 Hospitals
3.5 Ambulatory Surgery Centers
3.6 Others
4 Global Laparoscopy and Endoscopy Devices Market (by Product Type)
4.1 Overview
4.2 Opportunity Assessment
4.3 Growth Share Matrix
4.4 Endoscopes and Endoscopic Imaging Systems
4.4.1 Rigid Endoscopes
4.4.2 Flexible Endoscopes
4.5 Video and Visualization Systems
4.5.1 Endoscopy Cameras
4.5.2 Displays and Monitors
4.5.3 Video Convertors
4.5.4 Video Recorders
4.6 Instruments and Accessories
4.6.1 Insufflators
4.6.2 Irrigation Systems
4.6.3 Endoscope Tip Protector, Tubing, Water Systems
4.6.4 Procedure Kits
4.6.5 Forceps
4.6.6 Retrieval Kit
4.6.7 Injection Needle
4.6.8 Others
4.7 Others (Reprocessing, Sterilization, etc.)
4.8 Capsule Endoscopy Devices
4.8.1 Workstations and Data Recorders
4.8.2 Capsule
4.8.3 Other (Services and Patency System)
5 Global Laparoscopy and Endoscopy Devices Market (Region)
5.1 Laparoscopy and Endoscopy Devices Market
5.1.1 Regulatory Framework
5.1.2 Key Findings and Opportunity Assessment
5.1.3 Market Dynamics
5.1.4 Sizing and Forecast Analysis
6 Markets-Competitive Benchmarking and Company Profiles
6.1 Competitors Snapshot
6.2 Competitive Landscape
6.2.1 Market Share Analysis
6.2.2 Key Developments and Strategies
6.2.2.1 Regulatory and Legal
6.2.2.2 Funding
6.2.2.3 New Offerings
6.2.2.4 Mergers and Acquisitions
6.2.2.5 Partnerships, Collaborations, and Business Expansion
6.3 Company Profiles
6.3.1 Endoscopy and Laparoscopy Companies
- Ambu A/S
- Arthrex, Inc.
- B.Braun Melsungen AG
- Boston Scientific Corporation
- CONMED Corporation
- Cook Group Incorporated
- FUJIFILM Holdings Corporation
- HOYA Corporation
- Johnson & Johnson
- KARL STORZ SE & Co. KG
- Laborie
- Olympus Corporation
- Richard Wolf GmbH
- Smith & Nephew Plc
- Stryker Corporation
- CapsoVision, Inc.
- Medtronic plc
For more information about this report visit https://www.researchandmarkets.com/r/306tyi
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