The Laparoscopy Devices Market Size was valued at USD 10.96 billion in 2022 and is projected to grow from USD 11.53 Billion in 2023 to USD 18.91 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.65% during the forecast period (2023 - 2032). Treatment of various ailments, including prostate cancer, pancreatic cancer, and gastrointestinal issues, are the key market drivers enhancing market growth.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
The industry is expected to grow throughout the review period due to the rising demand for minimally invasive procedures. The adoption of minimally invasive surgery is likely to rise along with awareness of the procedure's benefits, which is anticipated to be a key driver of market expansion over the study period. In addition, rising funding and favorable policies provided by the governments of various nations are projected to expand significantly the market over the assessment period. The growing elderly population is also anticipated to be a significant driver supporting market expansion over the research period.
Over the assessment period, it is anticipated that the rising demand for data-integrated systems will present numerous profitable market expansion chances. Also, it is expected that developing nations will play a significant role in delivering prospects for market expansion. Untapped market opportunities may help to improve the industry in the upcoming years.
The demand for new treatment options is increasing as chronic diseases become more prevalent. Therefore, it is anticipated that the number of surgeries will be driven by the patient population for chronic diseases, supporting the expansion of disposable laparoscopy equipment. For instance, the World Health Organization estimates that in 2021, cardiovascular conditions will cause 17.9 million deaths worldwide, followed by malignancies (9.3 million), respiratory illnesses (4.1 million), and diabetes (4.1 million) (1.5 million). Therefore, such medical condition has enhanced the market CAGR of Laparoscopy Devices across the globe in the recent years.
Due to the advantages associated with minimally-invasive operations, the adoption rate has been rising, which may further boost the laparoscopy devices market revenue overall growth throughout the forecast period
The  market segments of Laparoscopy devices, based on product type, the laparoscopy devices market is divided into Laparoscopes, Energy Devices. The laparoscope is expected to dominate the market, which is likely to grow at the most significant CAGR while amassing the  laparoscopy market revenue of USD 5091.77 million during the forecast period. The insufflation device segment is anticipated to experience the highest CAGR of 7.9% over the projection period. Insufflation devices allow for easy and safe insufflation with humidified carbon dioxide in the abdominal cavity. The rising frequency and incidence of diseases such as colorectal cancer are the factors most likely to drive market expansion. For instance, colorectal cancer ranked third among all cancer in women and men in 2020, with almost 1.90 million newly diagnosed cases. Laparoscopic surgery is the most used form of treatment for colorectal cancer.
In September 2021 Â Olympus Corporation launched the POWERSEAL family of cutting-edge bipolar surgical energy products; They offer surgeons state-of-the-art sealing, dissection, and grasping capabilities in laparoscopic or open surgery while significantly lowering the force needed by the surgeon to close the jaws.
In April 2021 Genesis MedTech entered a strategic distribution agreement with LivsMed. This medical device company brings ground-breaking technology to minimally invasive surgery for the sales and marketing of the ArtiSential line for the Chinese and Singaporean markets.
The  Laparoscopy devices market segmentation, based on application, the  market for laparoscopy devices is divided into General Surgery, Gynecological Surgery. Overall, the general surgery market is expected to grow at a CAGR of 7.79% during the forecast period. Because surgical centers have lower overhead costs than hospitals most minimally invasive surgeries take place in a surgical center and cost around 45% to 60% cheaper than the same procedure performed in a regular hospital environment. Increased prevalence of chronic illnesses and rising awareness of minimally invasive operations among patients are some of the critical factors to boost market growth.
Figure 1 Laparoscopy Market, by Application, 2022 & 2030 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
The Laparoscopy devices market data based on end-user, the market for laparoscopy device equipment is divided into Hospitals & Clinics, Specialty Centers. Overall, hospitals and clinics will dominate the market during the projected period. The hospital sector led the laparoscopic device market in 2021, with 61.6% of total revenue. The rise in patients with various chronic conditions and the resulting increase in surgical procedures are the fundamental causes of this market segment's expansion. Due to the ease of handling any emergencies that may arise during surgical procedures and the availability of a wide range of treatment options in such facilities, hospitals experience a significantly higher inflow of patients for bariatric surgeries or other laparoscopic procedures than different healthcare settings. For instance, 256,000 Americans received weight-loss surgery in 2019 alone, according to the American Association for Metabolic and Bariatric Surgery.
On the other hand, lower postsurgical complications in minimally invasive laparoscopic surgery are anticipated to boost demand for ambulatory surgery facilities. Compared to hospitals, they provide patients with several advantages such as, including same-day release and quicker operation times. Because laparoscopic operations are less invasive, most intra-abdominal surgeries can now be performed at ambulatory surgical facilities. Aesthetic processes at mobile surgery facilities are less time-consuming and less expensive than inpatient procedures, reducing the cost to the patient.
In 2021Â The SIF-H190 single-balloon enteroscopy solution to reach deep inside the small intestine was introduced by Olympus Corporation (Japan).
In 2019Â The da Vinc X Surgical System was approved by the US FDA for Intuitive Surgical, Inc. (US).
By Region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America Laparoscopy devices market is expected to exhibit a significant CAGR growth during the study period. One of the main factors propelling the market is the growing reliance on laparoscopic operations compared to open surgeries. Also, the competition between well-known manufacturers in product innovation will impact the demand for the laparoscopic device. Moreover, surgeons prefer laparoscopy over traditional procedures since it promotes quick recovery and successful results. Also, rising healthcare costs in the US may encourage new and established competitors to enter the market.
Further, the major countries studied in the market report are The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2 LAPAROSCOPY Devices MARKET SHARE BY REGION 2022 (%)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Laparoscopy devices market accounts for the second-largest market share over the review period. Moreover, it is anticipated that the market of Laparoscopy devices in the region will grow during the forecast period due to rising healthcare costs and the acceptance of integrated monitoring devices. The UK Laparoscopy market is expected to see a significant market value increase during the evaluation period.
The Asia-Pacific Laparoscopy devices Market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to expanding the patient pool and the rapid development in the healthcare infrastructure are projected to develop the regional market in the assessment tenure. Moreover, South Korea Laparoscopy market held the largest market share, and the India Laparoscopy market was the fastest growing market in the Asia-Pacific region
For instance, Singapore and South Korea market of Laparoscopy devices are some of the emerging economies in the Asia Pacific region. Advancing technology, increasing investment, improving reimbursement scenarios, and growing medical tourism are likely to drive the market in the area. Other driving factors for the country are affordable devices, an increase in mergers and acquisitions, and government initiatives to improve healthcare services. The government has made significant investments to provide basic health insurance to all citizens. Hence, Asia-Pacific is anticipated to register the highest growth rate over the forecast period from 2022–2030.
Laparoscopy Key Market Players& Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the market of Laparoscopy devices grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Laparoscopy industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the  Laparoscopy industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, Laparoscopy industry has provided medicine with some of the most significant benefits. The Laparoscopy devices market major player such as Becton, Medtronic PLC (US), Cook Medical LLC (US),Fujifilm Holdings Corporation (Japan),Olympus Corporation (Japan),Stryker Corporation (US),KARL STORZ SE & Co. KG (Germany),Richard Wolf GmbH (Germany).
February 2020, the company has aligned with VirtaMed-a Swiss manufacturer of medical simulators-to release a simulator for laparoscopic training. This device is a mixed-reality simulator that combines fundamental laparoscopic tools with a computer-generated representation of what is happening inside the model patient.
Genesis MedTech Group is a medical device company headquartered in Singapore. Founded by professionals and entrepreneurs with MedTech experience ly and in Asia, its product portfolio focuses on value segment multi-therapy medical device products for emerging markets with sales and distribution through its established commercial network. Genesis MedTech Group covers the entire industry value chain of research and development, manufacturing, quality management, supply chain, marketing, and sales. Genesis MedTech entered a strategic distribution agreement with LivsMed, a medical device company that brings ground-breaking technology to minimally invasive surgery, for the sales and distribution of the ArtiSential line of products for the Chinese and Singaporean markets.
Key Companies in the market of Laparoscopy devices includes
Laparoscopy Industry Developments
In September 2021 Â Olympus Corporation launched the POWERSEAL family of cutting-edge bipolar surgical energy products; They offer surgeons state-of-the-art sealing, dissection, and grasping capabilities in laparoscopic or open surgery while significantly lowering the force needed by the surgeon to close the jaws.
 In April 2021 Genesis MedTech entered a strategic distribution agreement with LivsMed. This medical device company brings ground-breaking technology to minimally invasive surgery for the sales and marketing of the ArtiSential line for the Chinese and Singaporean markets.
Laparoscopy Devices Regional Outlook
| Report Attribute/Metric | Details |
| Market Size2022 | USD 10.96 billion |
| Market Size 2023 | USD 11.53 billion |
| Market Size 2032 | USD 18.91 billion |
| Compound Annual Growth Rate (CAGR) | 5.65% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2019- 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, End User and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Becton, Medtronic PLC (US), Cook Medical LLC (US),Fujifilm Holdings Corporation (Japan),Olympus Corporation (Japan),Stryker Corporation (US),KARL STORZ SE & Co. KG (Germany),Richard Wolf GmbH (Germany) |
| Key Market Opportunities | Rising Demand for Data-Integrated Systems |
| Key Market Dynamics | Increasing Demand for Minimally Invasive Surgeries to Favor the Market Growth |
Laparoscopy Device Market Highlights:
Frequently Asked Questions (FAQ) :
The Laparoscopy market size was valued at USD 10.96 Billion in 2022.
The market is projected to grow at a CAGR of 5.65% during the forecast period, 2023-2032.
North America had the largest share in the market.
The key players in the market are Becton, Medtronic PLC (US), Cook Medical LLC (US),Fujifilm Holdings Corporation (Japan),Olympus Corporation (Japan),Stryker Corporation (US),KARL STORZ SE & Co. KG (Germany),Richard Wolf GmbH (Germany)
The increasing prevalence of chronic diseases and the growing geriatric population are the key restraints on the laparoscopy devices market.
The General surgery had the largest share in the market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
