New York, United States , May 29, 2023 (GLOBE NEWSWIRE) -- The Global Laparoscopic Devices Market Size is to grow from USD 7.2 billion in 2022 to USD 16.3 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 8.5% % during the forecast period.
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A tiny, two-dimensional camera with a light source is a component of laparoscopic equipment. Laparoscopy is a type of minimally invasive surgery that makes far smaller incisions than standard surgery, minimizing pain, hastening healing time, and blood loss. Laparoscopic device reprocessing necessitates specialized training and equipment. The camera attached to the laparoscopic instruments allows surgeons to operate specialist laparoscopic equipment at the target site and carry out the surgery. There has been a significant increase in the need for laparoscopic equipment as energy devices, laparoscopes, and robot-assisted systems have gotten more technologically advanced. Laparoscopy is increasingly more commonly selected over conventional operations due to its many benefits, which include a shorter hospital stay, less blood loss, and lower patient morbidity. It also offers rapid healing times, good outcomes that happen quickly, reduced risk of infection, little to no incision, and less discomfort. The popularity of laparoscopic surgery is expected to drive up demand for laparoscopic equipment throughout the forecast period.
The primary drivers of market growth are the increase in patients suffering from illnesses including uterine fibroids and endometriosis as well as the increased demand for hysterectomy and myomectomy operations. Growing public knowledge of the nascent healthcare systems in emerging nations is another element. Additionally, it is projected that advantageous reimbursement rules in some nations may boost sales of laparoscopic power morcellators in those nations. Due to the significant increase in the world's old population and the advancement of energy systems, which have increased their availability and cost, which may drive the laparoscopic devices. Furthermore, the lack of qualified professionals, restricted spending, pricey equipment, and inadequate reimbursement restrictions significantly limit the market's rate of expansion. The surge in product recalls by regulatory agencies like the Government of Canada is one of the primary factors limiting the growth of the global market for laparoscopic devices. For instance, the Canadian authorities ordered the universal plus laparoscopic electrode, a class II device produced by the CONMED medical technology firm, to be recalled. The universal plus laparoscopic electrode's tip could split while being used, which led to a product recall.
Browse key industry insights spread across 210 pages with 123 market data tables and figures & charts from the report on "Global Laparoscopic Devices Market Size, Share, and COVID-19 Impact Analysis, By Product (Laparoscopes, Energy Systems, Trocars, Closure Devices, Suction/Irrigation Devices, Robot Assisted Systems, Hand Access Instruments), By Application (Bariatric Surgery, Gynecological Surgery, Colorectal Surgery, and Other surgeries), By End User (Ambulatory Centers, Hospitals, Clinics, and Other End Users), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032 " Get Detailed Report Description Here:
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The energy systems segment is dominating the market with the largest market share over the forecast period.
The global market for laparoscopic devices is divided into many categories based on the product types that are used, including laparoscopes, energy systems, trocars, closure devices, suction/irrigation devices, robot-assisted systems, and hand access tools. Energy systems have the highest revenue among these segments, with a projected 21% growth. The Fast-sequential vascular transaction, coagulation, and tissue closure are made possible by energy systems during laparoscopic surgery. These tools are widely used during a variety of bariatric procedures, such as sleeve gastrectomy, gastric bypass, adjustable gastric bands, and biliopancreatic diversion with a duodenal switch.
The other surgeries segment is dominating the largest market growth during the forecast period.
On the basis of applications, the market for laparoscopic devices is bifurcated into several segments such as bariatric surgery, gynecological surgery, colorectal surgery, and other operations. A market share of around 22.5% of the revenue for laparoscopic devices was represented by the category of other surgeries, which was one of these categories. Laparoscopies for the colon, thorax, prostate, and cholecystectomy are a few of the additional surgical treatments. The need for colon laparoscopy is driving growth in the global market for laparoscopy equipment. The segment's growth is being aided by the use of less invasive laparoscopic instruments.
The hospital segment is leading the market with the largest market share of 38.1% during the forecast period.
On the basis of end users, the global laparoscopic devices market is classified into segments such as ambulatory centers, hospitals, clinics, and other end users. Among these, the hospital segment holds the highest market revenue share of 61.1% during the forecast period. An increase in patients with various chronic illnesses and the resulting rise in surgical procedures may be the primary causes of this market's growth. Due to the ease of handling any emergencies that may arise during surgical procedures and the accessibility of a wide range of treatment options in such facilities, hospitals experience a significantly higher influx of patients for bariatric surgeries or other laparoscopic procedures compared to other healthcare settings.
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North America is influencing the market with the largest market growth over the forecast period.
North America is dominating the highest revenue share of 34.4% during the forecast period, due to the growing demand for laparoscopic procedures over open surgery. The competition between influential firms over the development of new products would also influence the laparoscopic device industry.
Asia Pacific region is expected to witness a CAGR of 7.8% for the laparoscopic device market during the forecast period, owing to there are more modern, well-equipped facilities there and more surgeries being done, the Asia Pacific region is expected to see a CAGR of 7.8% for the laparoscopic device market during the projected period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in Global Laparoscopic Devices Market include Karl Storz SE & CO. Kg, Medtronic, Johnson and Johnson, Olympus Corporation, CONMED Corporation, B. Braun Melsungen AG, The Cooper Companies Inc., Richard Wolf GmbH, Microline Surgical, BD, Welfare Medical Ltd, Intuitive Surgical, Shenzen Mindray Bio Medical Electronics Co., Ltd, & Others.
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Recent Development
In September 2021, Olympus Corporation announced the cutting-edge POWERSEAL line of bipolar surgical energy tools, enabling surgeons to perform cutting-edge sealing, dissection, and grasping techniques during laparoscopic or open surgery while dramatically reducing the amount of effort required to close the jaws.
Global Laparoscopic Devices Market, By Product
- Laparoscopes
- Energy Systems
- Trocars
- Closure Devices
- Suction/Irrigation Devices
- Robot Assisted Systems
- Hand Access Instruments
Global Laparoscopic Devices Market, By Application
- Bariatric Surgery
- Gynecological Surgery
- Colorectal Surgery
- Other Applications
Global Laparoscopic Devices Market, By End Users
- Ambulatory Centers
- Hospitals
- Clinics
- Other End Users
Laparoscopic Devices Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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