Laparoscopy Devices Market Overview:
Laparoscopy Devices Market was valued at $9,350 million in 2015 and is expected to garner $14,046 million by 2022, registering a CAGR of 5.8% during the forecast period 2016 - 2022. The energy devices segment accounted for more than one-fourth of the global market in 2015.
The global laparoscopy devices market was valued at $9,350 million in 2015, and is expected to reach $14,046 million in 2022, registering a CAGR of 5.8% from 2016 to 2022. Laparoscopy is a minimal invasive surgical technique performed by keyhole incision, specifically used for abdominal organs. The targeted areas treated through laparoscopy include bile duct, colon, liver, pancreas, and others. Over the past years, the demand for laparoscopy devices has increased significantly, owing to the advent of technological advancements in energy devices and laparoscopes.
The laparoscopic devices market is driven by the growth in prevalence of morbid obesity that leads to the increased demand for bariatric surgery, such as gastric bypass, sleeve gastrectomy, and gastric banding through laparoscopy. In addition, surge in healthcare expenditure by emerging Asian-Pacific countries, such as India, China, and others, is expected to create new opportunities for market expansion. However, lack of skilled professionals for laparoscopic procedures and post-operative risks associated with laparoscopy restrict the market growth.
The laparoscopy devices market is segmented based on product, application, end user, and geography. Based on product, it is classified into laparoscopes, energy devices, insufflators, robot-assisted surgical systems, suction or irrigation systems, closure devices, hand instruments, access devices, accessories, and others. Based on application, it is divided into general surgery, bariatric surgery, gynecological surgery, urological surgery, colorectal surgery, and others. General surgical application is further classified into cholecystectomies, hernia repairs, appendectomies, anti-reflux surgeries, and others. Bariatric surgical application is classified into gastric bypass, sleeve gastrectomy, gastric banding, and others. Based on end users, it is segmented into hospitals, clinics, and others.
Hospitals possess high market potential for growth of laparoscopy devices, owing to increase in demand for minimal invasive surgeries (MIS) and upsurge in governmental initiatives to improve healthcare facilities.
Drivers, restraints, and opportunities
The impact of the driving factors is expected to surpass that of the restraints. Moreover, emergence of new markets and increase in adoption of robot-assisted technology provide new growth opportunities in the near future.
The report provides a comprehensive analysis of the key players operating in the global laparoscopy devices market, such as Johnson & Johnson (Ethicon, Inc.), Karl Storz GmbH & Co.KG, Boston Scientific Corporation, Medtronic PLC. (Covidien), Olympus Corporation, Richard Wolf GmbH, ConMed Corporation, B. Braun Melsungen AG (Aesculap, Inc.), Smith & Nephew PLC., and Stryker Corporation.
Other key players in the value chain include Intuitive Surgical Inc., Silex Medical, LLC., Life Care Medical Devices Limited, Cook Medical Incorporated, Fortimedix Surgical, TransEnterix, Inc., Encision Inc., Applied Medical Resources Corporation, Microline Surgical Inc., and Hill-Rom Holdings Inc.
- The study provides an in-depth analysis, current trends, and future estimations of the global laparoscopy devices market to elucidate the imminent investment pockets.
- Comprehensive analysis of factors that drive and restrict the market growth is provided.
- A quantitative analysis of the industry from 2014 to 2022 is provided to enable stakeholders to capitalize on the prevailing market opportunities.
- Extensive analyses of key segments of the industry is presented to help understand the type of products and applications used globally.
- Key market players and their strategies are analyzed to understand the competitive outlook of the market.
Laparoscopy Devices Market Key Segments:
- Energy Devices
- Robot-Assisted Surgery Systems
- Suction or Irrigation Systems
- Closure Devices
- Hand Instruments
- Access Devices
- General Surgery
- Hernia Repairs
- Anti-Reflux Surgeries
- Bariatric Surgery
- Gastric Bypass
- Sleeve Gastrectomy
- Gastric Banding
- Gynecological Surgery
- Urological Surgery
- Colorectal Surgery
By End User
- Other End Users
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA