Newark, Oct. 13, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global laparoscopy devices market is expected to grow from USD 9.60 billion in 2021 to USD 17.71 billion by 2030, at a CAGR of 7.04% during the forecast period 2022-2030.
The increasing adoption among healthcare practitioners worldwide is anticipated to expand the demand for the laparoscopy devices enterprise during the projection period. Moreover, the countries' supportive government policies and regulations, increasing incidences of morbid obesity, and ever-increasing demand from emerging nations are also helping to propel market growth. However, the shortage of skilled professionals and the high cost of these instruments restrain the market growth. Furthermore, the proliferation in the adoption of robot-assisted laparoscopic surgeries & introduction of innovative laparoscopic tools are opportunities for market growth.
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Laparoscopy Devices Market Report Scope
| Report Attributes | Details |
| Market Size (2030) | Around $17.71 Billion |
| Market Size (2021) | $9.60 Billion |
| CAGR (2022-2030) | Over 7.04% |
| Base Year | 2021 |
| Forecast Year | 2022-2030 |
| Market Segments | Application, Product, End-User, Regions |
| Geographic Analysis | North America, Europe, South America, Asia Pacific, the Middle East, and Africa |
Competitive Strategy
To enhance their market position in the global laparoscopy devices market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Market Growth & Trends
The growth of the laparoscopy devices market is driven by the rising disposable income and the ever-increasing awareness of the advantages of laparoscopy devices. Moreover, the growing adoption of minimally invasive surgery (MIS) is the market growth trend. This is mainly because minimally invasive therapies are more securer than conventional operational methods. Additionally, increased the number of bariatric surgery procedures globally in the last few years due to rising demand for obesity treatment. Further, the increasing number of patients suffering from health conditions like myomectomy & hysterectomy surgeries, uterine fibroids and endometriosis and expanding knowledge about the improved healthcare infrastructure in emerging nations are also helping to propel the market growth. Also, the increasing prevalence of chronic medical ailments like diabetes, cancer, and urological disorders is boosting market growth. Moreover, the development of innovative laparoscopic appliances & expanding healthcare industry in emerging economies such as South Africa, Russia, Brazil, India, and China are promoting market growth during the forecast period.
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Key Findings:
• In 2021, the general surgery segment dominated the market with the largest market share of 21.24% and market revenue of 2.03 billion.
The application segment is divided into bariatric surgery, colorectal surgery, general surgery, urological surgery, and others. In 2021, the general surgery segment dominated the market with the largest market share of 21.24% and a market revenue of 2.03 billion. This growth is attributed to the rising disposable income of consumers. Further, by 2030, the bariatric surgery segment will likely dominate the market due to the rise in the prevalence of obesity globally.
• In 2021, the energy systems segment dominated the market with the largest market share of 20.26% and market revenue of 1.94 billion.
The product segment is divided into robot assisted systems, laparoscopes, energy systems, hand access instruments, suction or irrigation systems, closure devices, and others. In 2021, the energy systems segment dominated the market with the largest market share of 20.26% and market revenue of 1.94 billion. This growth is attributed to the growing number of bariatric procedures.
• In 2021, the hospital's segment dominated the market with the largest market share of 41.12% and market revenue of 3.94 billion.
The end-user segment is divided into clinics, hospitals, and others. In 2021, the hospital's segment dominated the market with the largest market share of 41.12% and market revenue of 3.94 billion. This growth is attributed to the increasing demand for laparoscopy devices in ambulatory surgical centers & physician offices.
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Regional Segment Analysis of the Laparoscopy Devices Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North American region occurred as the largest market for the global laparoscopy devices industry, with a market share of 48.35% and a market value of around 4.64 billion in 2021. North America currently dominates the laparoscopy devices market due to the increase in the geriatric population and the region's prevalence of gastrointestinal and abdominal diseases. Moreover, the growing dependence on laparoscopic surgeries compared to open surgeries, growing cases of obesity, and different chronic diseases are also helping drive the region's market growth. Further, the Asia Pacific region is expected to show the fastest CAGR of 9.01% over the projection period. This growth is attributed to the raised number of advanced, well-equipped hospitals. In addition, the increasing trend of medical tourism and ever-growing investment are also driving market growth in this region.
Key players operating in the global laparoscopy devices market are:
• ConMed Corporation
• B. Braun Melsungen AG
• Karl Storz SE & CO. KG
• Boston Scientific Corporation
• Johnson & Johnson
• Smith & Nephew Plc
• Olympus Corporation
• Stryker Corporation
• Richard Wolf GmbH
• Intuitive Surgical
• Medtronic PLC
• Microline Surgical, Inc.
• SCHÖLLY Fiberoptic GmbH
• Mindray Medical International Limited
• Victor Medical Instruments Co., Ltd
• Richard Wolf GmbH
• Peters Surgical
• Cook Medical
• CONMED Corporation
• AMNOTEC International Medical
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global laparoscopy devices market based on below mentioned segments:
Global Laparoscopy Devices Market by Application:
• Bariatric Surgery
• Colorectal Surgery
• General Surgery
• Urological Surgery
• Others
Global Laparoscopy Devices Market by Product:
• Robot Assisted Systems
• Laparoscopes
• Energy Systems
• Hand Access Instruments
• Suction or Irrigation Systems
• Closure Devices
• Others
Global Laparoscopy Devices Market by End-User:
• Clinics
• Hospitals
• Others
About the report:
The global laparoscopy devices market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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