Rockville, April 25, 2023 (GLOBE NEWSWIRE) -- The use of laparoscopic devices is expanding due to the growing desire for minimally invasive operations to reduce hospital stay, discomfort, and other consequences. As a result, overall sales of laparoscopic devices are expected to reach US$ 15.3 billion, with a 7.1% CAGR throughout the projection period (2022-2032). The global laparoscopic devices market is expected to be worth $7.8 billion in 2022, with sales increasing by 1.9x between 2022 and 2032.
Furthermore, as people with obesity become more conscious of the importance of physical fitness, the number of laparoscopic operations such as bariatric surgeries is increasing. This is expected to boost laparoscopic gadget sales.
In addition, important firms are incorporating robots, artificial intelligence, and machine learning into laparoscopic devices to do difficult procedures. This is projected to provide the market with numerous prospects for expansion.
Furthermore, growing worries about scarring after surgery are pushing the preference away from traditional surgical approaches and towards laparoscopy. This is expected to boost sales in the future years.
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| Laparoscopic Devices Market Scope | |
| Report Coverage | Details |
| Historic period | 2017-2021 |
| Forecast period | 2022-2032 |
| Growth momentum & CAGR | Accelerate at a CAGR of 7.1% |
| Market structure | Fragmented |
| Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
| Key countries | US, Canada, UK, France, and Germany |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Subsequently, increasing prevalence of uterine fibroids and endometriosis among women is surging the need of laparoscopic surgeries to avoid risks of infection. Backed by this, the use of laparoscopic devices is likely to increase over the coming years.
Key Takeaways:
- In terms of end user, hospitals segment held nearly 72% of the overall market share in 2021.
- By product type, energy systems segment is estimated to hold maximum share in the market, expanding at 8.5% CAGR until 2032.
- Based on application, general surgery segment is expected to dominate the market, registering 7.3% CAGR during the assessment period.
- North America is estimated to spearhead the growth in laparoscopic devices market, creating an absolute $ opportunity of US$ 2.5 Bn.
- In 2021, the U.S. held nearly 83% of demand share in North America market and the trend is likely to continue over the coming years.
Growth Drivers:
- Adoption of laparoscopic procedures to treat lifestyle diseases such as obesity, gall bladder-related problems, and diverticulitis will boost the market.
- Growing preference for minimally invasive surgeries for reduced hospitals stay, low pain, and minimal bleeding is increasing the demand in the market.
Restraints:
- Lack of skilled surgeons in underdeveloped regions might hamper the growth in the market.
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Competitive Landscape:
Key players profiled in the global laparoscopic devices market are integrating innovative technologies in laparoscopic devices to gain competitive edge. Some of the players are adopting new market strategies such as joint ventures, collaborations, and acquisitions to strengthen their global footprint.
For instance,
- September 2021: Olympus Corporation introduced the POWERSEAL line, which are innovative bipolar surgical energy tools that provide surgeons with an advanced dissection, sealing, and gripping capabilities during laparoscopic or open surgeries.
- April 2021: Genesis MedTech entered into a joint venture agreement with LivsMed, for commercialization of the ArtiSential product line in Singapore and China.
Key Companies Profiled by Fact.MR
- Karl Storz SE & CO. Kg
- BD
- Medtronic
- Stryker Corporation
- Johnson and Johnson
- Olympus Corporation
- B. Braun Melsungen AG
- Richard Wolf GmbH
- Shenzen Mindray Bio Medical Electronics Co., Ltd.
- The Cooper Companies Inc.
- CONMED Corporation
- Microline Surgical
- Intuitive Surgical
- Welfare Medical Ltd.
- DEAM
Market Segments Covered in Laparoscopic Devices Industry Analysis
- By Product Type:
- Trocars
- Energy Systems
- Closure Devices
- Suction / Irrigation Devices
- Insufflation Devices
- Laparoscopes
- Hand Access Instruments
- Robot-assisted System
- By Application:
- Bariatric Surgery
- Colorectal Surgery
- General Surgery
- Gynaecological Surgery
- Urological Surgery
- Others
- By End-use:
- Hospitals
- Clinic
- Ambulatory
- By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
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Key Questions Covered in the Laparoscopic Devices Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Laparoscopic Devices sales grow until 2033?
- Which are the factors hampering the Laparoscopic Devices demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Laparoscopic Devices Market during the forecast period?
Check out more related studies published by Fact.MR Research:
Laparoscopic Needle Holder Robotic Devices Market: Laparoscopy is the minimal-invasive surgery which is carried out by specialized technique to do an incision in skin. In past this surgery was carried out for gynecologic surgery and gall bladder surgery. Various laparoscopic procedures involve the cutting and stitching of internal tissue. Robotic-assisted surgery is one of the latest of the innovations in the field of minimally invasive surgery.
Laparoscopic Sutures Market: The laparoscopic procedure is performed using video laparoscopes, which allows the surgeons to have a view of the organs in the body. Minimally invasive surgeries have advantages such as less blood blood loss because of the small incisions and occurrence of less pain, which is expected to increase the growth of laparoscopic sutures market.
Electrosurgery Devices Market: The global electrosurgery devices industry reached US$ 5.20 Billion in valuation as of FY 2021. The market is projected to be valued at US$ 5.40 Billion in 2022. Across the 2022-2032 forecast period, the market is scheduled to embark on a positive trajectory, registering a CAGR of 4% to reach US$ 8 Billion.
Plastic Surgery Scaffold Market: The increasing effectiveness of properly designed biodegradable scaffolds in facilitating regeneration and repair of stromal tissues has been one of the key growth contributors of growth of plastic surgery scaffold market. Over the past few years, a vast variety of synthetic and semi-synthetic scaffolds have been developed, which has immensely contributed to the rising vigor of plastic surgery scaffold.
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