Dublin, Dec. 16, 2024 (GLOBE NEWSWIRE) -- The "Laparoscopic Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030" report has been added to ResearchAndMarkets.com's offering.
The global laparoscopic devices market was valued at USD 11.35 billion in 2023, growing at a CAGR of 9.14% during the forecast period from 2024 to 2030, in order to reach USD 19.13 billion by 2030.
As the prevalence of gastrointestinal and colorectal cancers rises, the demand for effective surgical interventions also increases. Furthermore, the growing adoption of minimally invasive surgeries across the globe due to numerous benefits, including shorter hospital stays and lower overall healthcare costs will drive the market for laparoscopic devices. Moreover, advancements in laparoscopic technology, such as enhanced imaging systems, more precise instruments, and robotic-assisted devices, which improve the outcomes of these surgeries are some of the key factors driving the growth of the laparoscopic market during the forecast period from 2024 to 2030.
Laparoscopic Devices Market Dynamics:
As the incidence of colorectal and gastrointestinal cancers continues to rise globally, there is a growing need for effective surgical solutions that not only remove tumors but also minimize the physical trauma associated with surgery. Laparoscopic surgery has become the preferred approach for many colorectal and gastrointestinal cancer surgeries due to its numerous advantages. In the case of colorectal cancer, laparoscopic colectomy, which involves the removal of part or all of the colon, is a commonly performed procedure.
The laparoscopic approach allows surgeons to remove the cancerous portion of the colon with high precision while preserving as much healthy tissue as possible. This technique also enables a quicker return to normal bowel function and reduces the overall impact on the patient's quality of life. Similarly, in gastrointestinal cancers, such as stomach cancer, laparoscopic gastrectomy is often used to remove part or all of the stomach. This minimally invasive approach is particularly beneficial for patients, as it reduces the surgical trauma and enhances postoperative recovery thereby escalating the overall market of laparoscopic devices across the globe.
Additionally, companies are amplifying their production of laparoscopic devices and securing regulatory approvals, thereby strategically expanding their market presence and driving further growth. For instance, in July, 2023, Genesis MedTech, announced that its ArtiSentialT, a revolutionary series of articulating laparoscopic instruments, had successfully obtained approval from China's National Medical Products Administration (NMPA) for market release.
Laparoscopic Devices Market Segment Analysis:
In the product type segment of laparoscopic devices market the trocars are expected to hold a significant share in 2023. Trocars are playing a crucial role in boosting the overall market of laparoscopic devices due to their fundamental importance in minimally invasive surgical procedures. As a key component in laparoscopic surgery, trocars are used to create access ports through the abdominal wall, allowing surgeons to insert various instruments, including cameras and surgical tools, into the body with minimal tissue disruption.
The increasing demand for laparoscopic procedures, driven by the numerous advantages of minimally invasive surgery - such as reduced postoperative pain, shorter recovery times, smaller scars, and lower risk of complications - has led to a growing need for high-quality, reliable trocars. These devices are essential for maintaining the integrity of the surgical site and ensuring the safe and efficient passage of instruments during the procedure. The market for trocars is further bolstered by continuous innovations in design and functionality, addressing specific surgical needs and improving overall outcomes. For instance, advancements in trocar technology have led to the development of bladeless, optical, and balloon-tip trocars, which minimize the risk of injury to internal organs and tissues during insertion.
These improvements enhance the safety and precision of laparoscopic surgeries, making them more accessible to a broader range of patients and reducing the learning curve for surgeons. Additionally, disposable trocars are gaining popularity due to their ability to reduce the risk of cross-contamination and infection, which is increasingly important in modern healthcare settings.
Laparoscopic Devices Market Key Players:
Some of the key market players operating in the laparoscopic devices market include Medtronic, Stryker, Shenzen Mindray Bio Medical Electronics Co., Ltd., Johnson & Johnson, Olympus Corporation, B. Braun Melsungen AG, Intuitive Surgical., CONMED, Becton, Dickinson, Smith & Nephew, Microline Surgical., Optomic., Palliare, Sejong Medical Co, BIOSISHEALING, Richard Wolf GmbH., Bolder Surgical, RUDOLF Medical, EMOS Technology, Teleflex and others.
Recent Developmental Activities in the Laparoscopic Devices Market:
- In June 2023, Xpan, a leading surgical instrument firm based in Canada, received approval of 510(k) from the U.S. FDA for its Universal Trocars System, which was designed to minimize tissue damage and enhance access during laparoscopic surgery.
- In March 2023, Peters Surgical acquired Vectac, a France-based company, as part of its strategic expansion initiatives. This acquisition was poised to bolster Peters Surgical's product portfolio with extended product range encompassing trocars, scissors, and endoscopic forceps, particularly tailored for laparoscopic surgery to cater to the evolving needs of gynecology, urology, and visceral surgery fields.
Key Takeaways From the Laparoscopic Devices Market Report Study:
- Market size analysis for current laparoscopic devices size (2023), and market forecast for 6 years (2024 to 2030)
- Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
- Key companies dominating the laparoscopic devices market.
- Various opportunities available for the other competitors in the laparoscopic devices market space.
- What are the top-performing segments in 2023? How these segments will perform in 2030?
- Which are the top-performing regions and countries in the current laparoscopic devices market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for laparoscopic devices market growth in the coming future?
Key Topics Covered:
1. Laparoscopic Devices Market Report Introduction
1.1. Scope of the Study
1.2. Market Segmentation
1.3. Market Assumption
2. Laparoscopic Devices Market Executive Summary
3. Competitive Landscape
4. Regulatory Analysis
4.1. The United States
4.2. Europe
4.3. Japan
4.4. China
5. Laparoscopic Devices Market Key Factors Analysis
5.1. Laparoscopic Devices Market Drivers
5.1.1. Increasing incidence of cancer such as gastrointestinal and colorectal cancer
5.1.2. Rising adoption of minimally invasive surgeries across the globe
5.1.3. Growing advancement in laparoscopic technology
5.2. Laparoscopic Devices Market Restraints and Challenges
5.2.1. Limitations associated with the devices such as reduced depth perception and visualization, and others
5.2.2. Stringent regulatory concerns for product approval
5.3. Laparoscopic Devices Market Opportunities
5.3.1. Integration of robot assisted technology in laparoscopic devices
6. Laparoscopic Devices Market Porter's Five Forces Analysis
7. Laparoscopic Devices Market Assessment
7.1. By Product Type
7.1.1. Laparoscopes
7.1.2. Insufflators
7.1.3. Suction/Irrigation Pumps
7.1.4. Energy Devices
7.1.5. Trocars
7.1.6. Others
7.2. By Application
7.2.1. General Surgery
7.2.2. Urological Surgery
7.2.3. Bariatric Surgery
7.2.4. Gynaecological Surgery
7.2.5. Colorectal Surgery
7.2.6. Others
7.3. By End-User
7.3.1. Hospitals
7.3.2. Ambulatory Surgical Centers
7.3.3. Others
7.4. By Geography
8. Laparoscopic Devices Market Company and Product Profiles
- Medtronic
- Stryker
- Shenzen Mindray Bio Medical Electronics Co.
- Johnson & Johnson
- Olympus
- Intuitive Surgical
- CONMED
- Becton, Dickinson and Company
- Smith & Nephew
- Microline Surgical
- Optomic
- Palliare
- Sejong Medical Co.
- BiosisHealing
- Richard Wolf
- Bolder Surgical
- RUDOLF Medical
- EMOS Technology
- Teleflex
- B. Braun Melsungen
For more information about this report visit https://www.researchandmarkets.com/r/7hg9t
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