Laparoscopy Devices Market Analysis by Application (Gynecological, Urological, General, Bariatric, and Other Surgery); by End Users (Ambulatory, Hospital, and Clinic); and by Product (Robotic Assisted Systems, Laparoscopes, Hand Access Instruments, Energy Systems, and Others)-Global Supply & Demand Analysis & Opportunity Outlook 2022-2031
26 Jul 2022
Healthcare & Pharmaceuticals
Impact Analysis on the Growth of Market
Inflation and looming Recession to Haunt Businesses:
In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022...
The Research Report is Updated with 2021 Base Year, 2022 Estimated year and Forecast till 2031 with Market Insights.
With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2021 as base year, 2022 as estimated year and forecast to 2031. This will have market drivers, recovery rate in the market, insights and competitive analysis.
Global Laparoscopy Devices Market Size, Forecast, and Trend Highlights Over 2022 - 2031
The global laparoscopy devices market is estimated to garner a revenue of approximately USD 14.0 billion by the end of 2031 by growing at a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. Further, the market generated a revenue of approximately USD 7.0 billion in the year 2021. The growth of the market can be attributed to the surge in the number of patients suffering from several health disorders, such as hysterectomy, uterine cancer, endometrial cancer, and others. For instance, according to the American Society of Clinical Oncology, there are approximately 65, 950 people diagnosed with endometrial and uterine cancer.
Laparoscopy also known as minimally invasive surgery is a surgical procedure that allows a surgeon to see inside the abdomen and pelvis without making large incisions in the skin. The main types of laparoscopic instruments or devices are divided on the basis of product into robotic assisted systems, laparoscopes, hand access instruments, energy systems, and others. Moreover, a laparoscope, which is a thin telescope equipped with a cold light source and a video camera, is used in conjunction with laparoscopic instruments while conducting the surgery. There has been an increase in the laparoscopic devices market size owing to the growing awareness and demand among people for laparoscopic surgeries. More than 13 million laparoscopic procedures are performed every year globally.
Global Laparoscopy Devices Market: Growth Drivers and Challenges
Surge in Bariatric Surgeries– Bariatric surgeries are performed to help people lose weight and there has been a surge in bariatric surgeries owing to the rise in the number of people that are severe affected by obesity. Therefore, it is expected to spur the growth of the global laparoscopy devices market. According to the American Society for Metabolic and Bariatric Surgery, there has been an increasing trend in the number of bariatric surgeries in the United States from 105,448 in 2015 to 122,056 in 2020.
Increasing Robotic Surgeries – With the advance of technology, people are opting for minimally invasive surgeries that are conducted with robot assistance. Hence, it is expected to rise the growth of the global laparoscopy devices market. As per the National Library of Medicine, there are nearly 66 centers and 71 robotic installations till July 2019 with over 12,800 surgeries performed with robotic assistance in the past years.
Rising Complicated Pregnancy Cases– Approximately 15 per cent of pregnant women require skilled care with some major intervention for survival.
Improving Healthcare Infrastructure– Laparoscopy is linked with reduced hospital stays and lower hospital costs in relation to open surgery. Improving healthcare infrastructure provides more hospitals with better instruments and devices, which is expected to increase the growth of the global laparoscopy devices market. As per the Department of Foreign Affairs and Trade, the Indian healthcare system has allowed 100 per cent investment in the hospital sector and the manufacturing of medical devices.
High Cost of Laparoscopic Devices
Limited Range of Motion through a Tiny Invasion Hole
Lack of Skilled Professionals to Use Devices
The laparoscopy devices market is segmented and analyzed for demand and supply by application into gynecological, urological, general, bariatric, and other surgery. Out of these, bariatric surgery is anticipated to hold the largest share over the forecast period in the global laparoscopy devices market. This can be attributed to the surging incidence of obesity among people owing to the unrestricted intake of calories. As per the World Obesity Organization, it is anticipated that nearly 2.7 billion adults will be overweight and 1 billion affected by obesity by 2025
Global Laparoscopy Devices Market Regional Synopsis
Regionally, the global laparoscopy devices market is studied into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these markets, the market in North America region is projected to hold the largest market share by the end of 2031 on the back of a rise in the incidence of obesity among the population, the rising prevalence of abdominal diseases, and an increase in the demand for minimally invasive surgery techniques. For instance, according to the data provided by the Centers for Disease Control and Prevention in 2018, the number of adults diagnosed with ulcers was 14.8 million.
Our in-depth analysis of the global laparoscopy devices market includes the following segments:
By End Users
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Key Companies Dominating the Global Laparoscopy Devices Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global laparoscopy devices market that are included in our report are Olympus Corporation, Medtronic, Medical Devices Business Services, Inc., (Johnson & Johnson), Stryker, Boston Scientific Corporation, Cook Group Incorporation, Aesculap, Inc., CONMED Corporation, Richard Wolf GmbH, Smith & Nephew, and others.
Global Laparoscopy Devices Market: Latest Developments
September, 2021– Olympus Corporation announced the release of the first devices in the new POWERSEAL family of advanced bipolar surgical energy products. The POWERSEAL 5mm Curved Jaw Tissue Sealer and Divider, Double-Action devices deliver consistent sealing reliability in an ergonomic, multifunctional design that promotes procedural efficiency.
June, 2022: CONMED Corporation announced the acquisition of In2Bones Global Inc., a privately held company that is a developer, distributor and manufacturer of medical devices for the treatment of disorders.
Key Reasons to Buy Our Report
The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
The report includes detailed company profiles of the major players dominating the market.
We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
FREQUENTLY ASKED QUESTIONS
Rising complicated pregnancy cases, increasing robotic surgeries, surge in bariatric surgeries, improving healthcare infrastructure, and surge in the number of patients suffering from several health disorders.
The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022 – 2031.
High cost of laparoscopy devices, limited range of motion through a tiny invasion hole and lack of skilled professionals to use devices.
Which region will provide more business opportunities for growth of laparoscopy devices market in future?
The market in North America region is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market are Olympus Corporation, Medtronic, Medical Devices Business Services, Inc., (Johnson & Johnson), Stryker, Boston Scientific Corporation, Cook Group Incorporation, Aesculap, Inc., CONMED Corporation, Richard Wolf GmbH, Smith & Nephew, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by end users, product, application, and by region.
The bariatric surgery is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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- Olympus Corporation
- Medical Devices Business Services Inc. (Johnson & Johnson)
- Boston Scientific Corporation
- Cook Group Incorporation
- Aesculap, Inc.
- CONMED Corporation
- Richard Wolf GmbH
- Smith & Nephew