Laparoscopy Devices Market Overview:
The global laparoscopy devices market size was valued at $12,067.60 million in 2019, and is projected to reach $18,907.05 million by 2027, registering a CAGR of 5.8%.A laparoscope comprises a long, thin tube with high intensity light along with high resolution camera in front. The camera transmits images to monitor as it travels through the abdomen. Laparoscopy is used for diagnosis as well as treatment of endometriosis, ectopic pregnancy, pelvic inflammatory disease (PID), cysts, and fibroids.Laparoscopy devices are routinely used in diagnosis as well as in therapeutic procedures of various diseases such as prostatectomy, pancreatic cancer, and gastrointestinal disorders. Use of these devices in surgical procedures ensure minimal bleeding and assist in maintaining hemostasis. Laparoscopy devices are preferred by surgeons as well as physicians, owing to high level of precision offered by such devices in surgeries.
Rise in cases of morbid obesity at global level is the major factor that drives the laparoscopy market growth. In addition, growth in bariatric surgeries performed globally to reduce weight enhances the market growth. As per data published by the American Society for Metabolic & Bariatric Surgery (ASMBS), in 2018, the total number of bariatric surgeries performed in America alone were 252,000. However, dearth of skilled professionals and high cost of these devices restrain the market growth. Furthermore, increase in adoption of robot-assisted laparoscopic surgeries and introduction of innovative laparoscopic devices in the market offer lucrative opportunities for market growth.
By Product
The global laparoscopy devices market by product is segmented into laparoscopes, energy devices, insufflators, robot assisted surgical system, suction or irrigation system, closure devices, hand instruments, access devices, and accessories. Energy devices used in laparoscopic procedures constitute light sources, camera heads, wireless display & monitors, laparoscopy cameras, carts, video processors & video convertors, transmitters & receivers, and others. The energy devices segment represents a very strong market for laparoscopic technologies. These tools are bare necessities for proper functioning of laparoscopes. Energy devices are essentially employed in laparoscopic surgeries, owing to continuous technological advancements.The need to close wounds after performing laparoscopic surgeries has resulted in development of new energy devices. This aids in improving efficiency and minimizing variability of laparoscopic surgeries. Growth in demand for single incision surgeries and other laparoscopic surgeries boost requirement for energy devices in the laparoscopy device market.
By Product
The Energy Devices segment was the largest contributor to the market, owing to growth in demand for single incision surgeries and other laparoscopic surgeries
By Application
On the basis of application, the laparoscopy devices market is segmented into general surgery, bariatric surgery, gynecological surgery, urological surgery, colorectal surgery, and others. General surgery has dominated the laparoscopy devices market, owing to increasing cases of gall bladder removals, patients suffering from hernia, and surgical removal of appendix whereas, the bariatric segment is anticipated to growat a fast pace during the forecast period,owing to itspotential in the treatment of diabetes and conditions associated with cardiovascular diseases. In addition, laparoscopic bariatric surgery assists in the improvement of ailments associated with obesity such as type 2 diabetes, high blood pressure, unhealthy cholesterol levels, and sleep apnea.
By Application
General Surgery has dominated the laparoscopy devices market, owing to increasing cases of gall bladder removals, patients suffering from hernia, and surgical removal of appendix
By End User
On the basis of end user, the laparoscopy devices market is segmented into hospitals, clinics, and others. Others include ambulatory surgical centersand diagnostic centers. Among these, the hospitals segment dominated the market, whereas demand for laparoscopy devices in ambulatory surgical centers and physician offices is expectedto increase in the coming years.
By End User
Hospitals account for the largest market share in the global laparoscopy devices market, owing to increase in adoption of laparoscopy devices in the operation theaters
By Region
Region wise, the laparoscopy devices market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America is the leading revenue contributor to the global laparoscopy devices market, owing to increase in geriatric population and prevalence of gastrointestinal & abdominal diseases in the region. Furthermore, surge in incidences of morbid obesity among the American population is likely to increase the demand for bariatric surgeries performed in the region for reducing weight, thereby boosting the growth of laparoscopy devices. Advances in technologies and growth in adoption of minimally invasive techniques are the key factors that drive the growth of the North America laparoscopy devices market. In addition, use of robotic technology in laparoscopy devices has provided higher accuracy, hence creating many opportunities for the North America laparoscopy devices market. Europe has the second largest share in the global market. However, large population base, increased affordability, and improvement in healthcare facilities are expected to fuel the growth of the Asia-Pacific laparoscopy device market.
By Region
North America is the leading revenue contributor to the global laparoscopy devices market, owing to increase in geriatric population and prevalence of gastrointestinal & abdominal diseases in the region.
The report provides a comprehensive analysis of the key players operating in the global laparoscopy devices market, namely B. Braun Melsungen AG, Boston Scientific Corporation, ConMed Corporation, Johnson & Johnson, Karl Storz SE & CO. KG, Medtronic plc (Covidien), Olympus Corporation, Richard Wolf GmbH, Smith & Nephew plc., and Stryker Corporation.
Key Benefits For Stakeholders
This report provides a detailed quantitative analysis of the current laparoscopy devices market trends and forecast estimations from 2019to 2027, which assists to identify the prevailing laparoscopy devices market opportunities.
An in-depth laparoscopy devices market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
A comprehensive analysis of factors that drive and restrain the growth of the global is provided.
Region-wise and country-wise market conditions are comprehensively analyzed in this report.
The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2027, in terms of value.
An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
Key market players within the laparoscopy devices market are profiled in this report and their strategies are analyzed thoroughly, which helps in understanding competitive outlook of global laparoscopy devices market.
Laparoscopy Devices Market Report Highlights
| Aspects | Details |
 By PRODUCT |
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 By APPLICATION |
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 By END USER |
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 By Region |
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 Key Market Players | Stryker Corporation, Medtronic Plc. (Covidien), Olympus Corporation, Johnson & Johnson, Karl Storz SE & CO. KG, Richard Wolf GmbH, B. Braun Melsungen AG, Boston Scientific Corporation, ConMed Corporation, Smith & Nephew Plc |
Analyst Review
The utilization of laparoscopy devices is expected to witness significant growth, owing to increase in demand for minimally invasive surgeries. The global laparoscopy devices market has piqued the interest of healthcare providers because of the associated benefits offered by these devices for diagnosis and treatment of clinical disorders. There have been remarkable technological advancements in laparoscopy-based surgeries. Asia-Pacific and LAMEA are expected to offer lucrative growth opportunities to the key players in the industry.
In addition, rise in incidences of chronic diseases, technological advancements, and surge in emphasis on early prevention of diseases majorly drive the market growth. However, high cost of laparoscopy procedures and dearth of experienced professionals affect the market growth. Presently, the energy devices segment is the largest revenue contributor to the laparoscopy devices market. As the mean age of global population is drifting toward older age category, the incidence rate of chronic diseases in patients has drastically increased in recent years. This factor, along with increase in demand for minimally invasive surgeries, augment the growth of the laparoscopy devices market. In addition, laparoscopy devices manufacturers and distributors focus to expand their presence in the emerging economies. A rapid growth was observed in shipments of these devices by key manufacturers to improve healthcare services in emerging nations. This trend is expected to offset the challenging conditions in mature markets such as North America and Europe.
The total market value of laparoscopy devices market is $18,907.05
The forecast period in the report si from 2020 to 2027
The market value of laparoscopy devices market in 2019 was $12,067.60
The base year for the report is 2019
Yes, laparoscopy devices companies are profiled in the report
The top companies that hold the market share in laparoscopy devices market are B. Braun Melsungen AG, Boston Scientific Corporation, ConMed Corporation, Johnson & Johnson, Karl Storz SE & CO. KG
The top 5 emerging investments markets in the laparosocpy devices market are Germany, Japan, China, Canada, and France
The key trends in the laparosocpy devices market are Introduction of robot-assisted laparoscopy, demand for minimally invasive procedures, and increase in cases of morbid obesity across the globe
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