Wilmington, Delaware, United States, Aug. 30, 2023 (GLOBE NEWSWIRE) -- The global laparoscopy devices market is projected to flourish at a CAGR of 6.5% from 2020 to 2030. As per the report published by TMR, a valuation of US$ 16.4 billion is anticipated for the market in 2031. As of 2023, the market for laparoscopy devices is expected to close at US$10.9 billion.
An increase in the number of minimally invasive surgical procedures performed, as minimally invasive surgery offers benefits like smaller incisions, reduced post-operative pain, faster recovery times, and shorter hospital stays, thus is the major driver for the laparoscopy devices market.
An increasing number of the population suffers from diseases related to gynaecological, urological, and cardiology, which, in turn, increases the number of surgical procedures. This factor is expected to propel the demand for laparoscopy devices during the forecast period
The growing consumer awareness and technological advancements in laparoscopy devices, including imaging systems, energy sources, robotic-assisted systems, and instruments, drive the market growth. Improved visualization and precision contribute to enhanced surgical outcomes.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 8.5 Bn | |
| Estimated Value | US$ 16.4 Bn | |
| Growth Rate - CAGR | 6.5% | |
| Forecast Period | 2020-2030 | |
| No. of Pages | 301 Pages | |
| Market Segmentation | Product, Application, End User, Region | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Ethicon US, LLC (Johnson & Johnson), CONMED Corporation, Medtronic, Aesculap, Inc. (B. Braun company), Fujifilm Holding Corporation, Smith & Nephew, Stryker, KARL STORZ, Olympus Corporation, Richard Wolf GmbH, Cook Medical, Inc., Boston Scientific Corporation, | |
Key Takeaways from the Market Study
- As of 2022, the laparoscopy devices market was valued at US$ 10.2 billion
- By product, the energy system segment enjoys high demand, accumulating a high revenue share during the forecast period.
- Based on the application, the general surgery segment accounts for the highest market share
- Based on end-users, the hospitals segment is expected to generate significant revenue during the forecast period, due to the increased number of surgical procedures performed in hospitals
Laparoscopy Devices Market: Key Trends and Opportunistic Frontiers
- Increased consumer trends towards adopting minimally invasive surgical techniques for reduced patient trauma, faster recovery, and shorter hospital stays, are expected to increase the market growth
- The increasing prevalence of chronic diseases, such as obesity, diabetes, and gastrointestinal disorders, necessitates surgical interventions the number of laparoscopic procedures performed has increased.
- The development of healthcare infrastructure, particularly in emerging economies, is contributing to the adoption of advanced surgical techniques and devices like laparoscopy.
- Increasing technological advances such as improved imaging systems, energy sources, and robotic-assisted surgical systems, drive the demand for laparoscopy devices market.
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Laparoscopy Devices Market – Regional Analysis
- North America is expected to dominate the laparoscopic devices market owing to the huge number of surgical procedures performed in the country, which benefits the laparoscopic industry. The increasing healthcare expenditure in countries like the United States and Canada provides an opportunity for market growth.
- Asia Pacific is expected to witness a significant share in the laparoscopy devices market. The increasing prevalence of chronic diseases, increasing healthcare expenditure, and improvements in healthcare infrastructure are driving the demand for laparoscopic devices.
- The high adoption of advanced medical technology in countries like China, Japan, India, and South Korea, is witnessing rapid growth in the laparoscopy devices market
Competitive Landscape
The global laparoscopy devices market is moderately fragmented, with the presence of a small number of leading players in the international market and several small players in regional markets. The top players hold major share of the global laparoscopy devices market. Prominent players operating in the global laparoscopy devices market include
- Ethicon US
- LLC (Johnson & Johnson)
- CONMED Corporation
- Medtronic
- Aesculap, Inc. (B. Braun company)
- Fujifilm Holding Corporation
- Smith & Nephew
- Stryker
- KARL STORZ
- Olympus Corporation
- Richard Wolf GmbH
- Cook Medical, Inc.
- Boston Scientific Corporation
Key Developments in Laparoscopy Devices Market
- In September 2022 - Stryker opened a research and development lab in Brisbane, in partnership with Queensland University of Technology, The University of Queensland, Metro North Hospital and Health Service and Queensland Health, to advance research focused on the development of innovative medical technology products.
- KARL STORZ has been developing advanced imaging systems for laparoscopy. Their recent developments include high-definition imaging solutions that provide enhanced visualization during laparoscopic procedures.
- Richard Wolf has been working on laparoscopic systems that offer ergonomic designs and user-friendly interfaces. Their developments focus on enhancing the surgeon's experience during laparoscopic procedures.
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Laparoscopy Devices Market –key Segments
Product
- Energy Systems
- Robot Assisted Systems
- Laparoscopes
- Video Laparoscopes
- High-definition Cameras
- Standard Definition Cameras
- Fiber Laparoscopes
- Video Laparoscopes
- Hand Access Instruments
- Trocars
- Closure Devices
- Insufflation Devices
- Suction/Irrigation Devices
Application
- Gynecological Surgery
- General Surgery
- Urological Surgery
- Bariatric Surgery
- Colorectal Surgery
- Others
End-user
- Hospitals
- Clinics
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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