Global Laparoscopic Devices Market Set to Grow 7.3% – Industry Overview by Region, Device Types, Application, Growth Rate, Business Opportunities & Forecast 2019 to 2025 | Adroit Market Research
Laparoscopy is the minimally invasive surgical technique carried out by keyhole incision, precisely used for abdominal organs. The focused areas treated with the help of laparoscopy involve pancreas, liver, colon, bile duct and more. From the past years, demand for laparoscopy devices has amplified significantly, because of the beginning of technological developments in laparoscopes and energy devices.
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In the year 2017, the size of global laparoscopic devices market valued at USD 10.54 Bn. It is projected to increase the market with a CAGR of 7.3% in terms of revenue in the coming years. An increasing inclination for technological developments, rise in healthcare awareness and marginally invasive surgeries are important factors assisting the global laparoscopic devices market growth. Additionally, growth in the number of geriatric and obese population related to the increasing inclination for less hospital stay are other factors driving the growth of laparoscopic devices market growth.
Global laparoscopic devices market is fueled by the increase in the occurrence of morbid obesity leading to augment the demand for bariatric surgery like gastric banding, sleeve gastrectomy and gastric bypass through laparoscopy. Additionally, an increase in the expenditure on healthcare by developing Asian-Pacific regions, like China, India and more are anticipated to generate opportunities for the expansion of laparoscopic devices market. On the other hand, deprived of skilled professionals for the post-operative and laparoscopic procedures risks related to laparoscopy control the growth of global laparoscopic devices industry.
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Growing investments in the market of laparoscopic instruments, increase in the number of minimally invasive procedures performed in the world, rise in the laparoscopic bariatric procedures, increase in the occurrence of colorectal cancer, developments in technology and booming healthcare industry in BRICS nations are the factors driving the growth of laparoscopic devices market. In contrast, decrease in medicare payments to healthcare providers in the U.S, growing preference of robotic surgeries and lack of trained professionals to functioning the refined equipment hindering the growth of laparoscopic devices industry from attaining advanced profitability. In addition, the spaces in infrastructural support for the laparoscopic procedures in unfledged nation keeping the past latent patient pool from promoting. However, the rise in the number of free-trade agreements is projected to replicate positively in the coming future.
With increasing demand for minimally invasive surgeries would support the growth of the global laparoscopic devices market. Minimally invasive surgery devices market is expected to witness a high growth owing to shorter hospital stay and increased patient comfort in minimally invasive surgery compared to the traditional surgeries. In addition, technological advancements and rising healthcare awareness among the patient population for minimally invasive surgeries would support the growth of the global laparoscopic devices market. However, high cost of the devices is one of the factor that restricts the growth of the market to some extent during the forecast period. Smaller surgical incisions in MIS require equipment that have high precision and strength, and are lightweight. Hence, materials such as platinum, titanium, cobalt, and plastics such as ultem, radel, and polyetheretherketone are used to manufacture these devices such as surgical devices. As platinum is more expensive than other materials available, it adds to the overall cost of equipment.
Internationally, laparoscopic devices market is projected to experience healthy growth in the coming future because of the growth in the number of product launches and rise in the awareness of endoscopic surgeries in the emerging regions. Laparoscopic devices market is expected to witness the highest share in North America followed by Europe because of the technological developments and major companies producing laparoscopic devices in the regions. Even it is analyzed that the growth in the number of companies in Europe is accomplishing the CE mark approval to market the minimally invasive surgery devices across the globe. The Asia Pacific is anticipated to record faster growth because of growth in the number of endoscopic surgeries accredited to the growing occurrence of obesity and chronic disorders in the region during the forecast period.
Topographically, North America dominated the laparoscopic devices market and is anticipated to recollect the dominance in the coming years. Many of the manufacturers are concentrating on the Asia-Pacific market due to the increase in demand in the area related to the enormous available population and increasing medical tourism across the region.
ConMed Corporation, Smith & Nephew, Cook Medical Inc., Stryker Corporation, Olympus Corporation are the manufacturers developing in the global laparoscopic devices market.
What does the report include?
• The study on the global laparoscopic devices market includes qualitative factors such as drivers, restraints, and opportunities
• Additionally, the market has been evaluated using the value chain and Porter’s Five Forces’ analysis
• The study covers qualitative and quantitative analysis of the market segmented on the basis of devices, application and region. Moreover, the study provides similar information for the key geographies.
• Actual market sizes and forecasts have been provided for all the above-mentioned segments
• The study includes profiles of key players in the market with a significant global and/or regional presence
Key segments of the global laparoscopic devices market
Device Type Overview, 2015-2025 (USD million)
• Laparoscopes
• Energy Devices
• Insufflator Devices
• Robot-Assisted Surgery Devices
• Suction Devices
• Closure Devices
• Hand Instruments
• Access Devices
• Accessories
Application Type Overview, 2015-2025 (USD million)
• General Surgery
• Bariatric Surgery
• Gynecological Surgery
• Urological Surgery
• Colorectal Surgery
• Others
Regional Overview, 2015-2025 (USD million)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Russia
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• Korea
• India
• Southeast Asia
• Rest of Asia Pacific
• South America, Middle-East & Africa
• Brazil
• Egypt
• Saudi Arabia
• South Africa
• Nigeria
• Rest of the World
Some Points from TOC:
1. Executive Summary
2. Research Methodology
3. Market Outlook
4. Laparoscopic Devices Market, by Devices
5. Laparoscopic Devices Market, by Application
6. Laparoscopic Devices Market, by Region
7. Company Profiles
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