Global Laparoscopy Devices Market Research Report: Information By Product (Laparoscopes, Energy Devices), By Application (General Surgery, Gynecological Surgery), By End User (Hospitals & Clinics, Specialty Centers) - Forecast till 2027

Market Overview

As per the assessment conducted by Market Research Future (MRFR), the Global Market for Laparoscopy Devices Market is expected to acquire the market value of USD 17,206.32 Million while expanding at a CAGR of 8.30% by 2023. The growing funding and favorable reimbursement policies are predicted to play a salient role in steering the global market during the review timeframe.

Impact of COVID-19

The outbreak of COVID-19 is expected to negatively impact the market owing to the temporary shutdown of the manufacturing units owing to the imposition of lockdown in various countries. The lockdown caused a severe downfall in the production of laparoscopy devices. However, the market is expected to pick up the pace since multiple countries have lifted the lockdown.

Market Dynamics

Drivers

Increasing Demand for Minimally Invasive Surgeries to Favor the Market Growth

The surging demand for minimally invasive surgeries is anticipated to boost the industry during the review timeframe. The growing awareness about minimally invasive surgeries is likely to increase its adoption as well, which is predicted to be a crucial factor in promoting market expansion in the analysis timeframe. Besides, increasing funding and favorable policies offered by the government of various countries are likely to augment the market significantly in the assessment tenure. Also, the expanding geriatric population is projected to be another salient factor strengthening the market expansion during the review tenure.

Opportunities

Rising Demand for Data-Integrated Systems to Offer Significant Opportunities for Market Expansion

The increasing demand for data-integrated systems is projected to offer several lucrative opportunities to bolster the market during the assessment period. In addition, developing countries are predicted to play a salient role in providing opportunities for market growth. The presence of untapped market opportunities can assist to strengthen the trade in the coming period.

Restraints

Lack of Expertise to Hinder the Market Growth during the Forecast Tenure

The lack of trained healthcare professionals is projected to hinder the market growth during the forecast period. There is a need for trained healthcare professionals for laparoscopic procedures to strengthen the trade in the coming period.

Challenges

Post-Impact of Laparoscopy Procedures to Pose a Significant Challenge

The post-impact of the laparoscopic surgery is expected to pose a significant challenge that can limit market expansion during the assessment period.

Cumulative Growth Analysis

The global market for laparoscopy devices is anticipated to show significant growth during the forecast period owing to the growing demand for minimally invasive surgical procedures and the presence of favorable reimbursement policies. However, the market can be hampered with a lack of expertise.

Market Segmentation

Global Laparoscopy Devices Market is segmented into Application, End-User, and Product.

By Application

Based on application, the global market for laparoscopy devices market is segmented into bariatric surgery, general surgery, gynecological surgery, colorectal surgery, urological surgery, and others. Among all, the general surgery segment is predicted to expand at a CAGR of 7.79% CAGR during the forecast period

By End-User

Based on end-user, the global market for laparoscopy devices market is segmented into hospitals and clinics, ambulatory centers, and specialty centers. Among all, the hospitals and clinics are expected to dominate the market during the forecast period.

By Product

Based on product, the global market for laparoscopy devices market is segmented into energy devices, laparoscopes, insufflation devices, handheld instruments, suction/irrigation devices, access devices, internal closure devices, trocars, and others. Among all, the laparoscope is predicted to lead the market, which is likely to grow at the highest CAGR while amassing the market value of USD 5091.77 million by 2023.

Regional Analysis

The Americas to Acquire the Largest Market Share During the Forecast Period

The Americas is projected to acquire the largest market share during the review period owing to the rising GDP per capita income and the growing geriatric population. The growing incidence of chronic ailment is predicted to surge the need for an effective diagnosis and therapeutics. The US is projected to make the most salient contribution in developing the regional market during the review period.

Europe to Acquire the Second Largest Market Share during the Review Period

Europe is predicted to procure the second largest market share during the review period owing to the expanding patient pool and the growing research on laparoscopy. Also, the rising healthcare expenses and adoption of integrated monitoring devices into the market are projected to bolster the regional market during the forecast period. The UK is predicted to make a significant market value during the assessment timeframe.

APAC Expected to be the Fastest-Growing Market During the Forecast Period

APAC is predicted to be the fastest-growing market during the forecast period while amassing the market value of USD 4205.58 million by 2023. The expanding patient pool and the rapid development in the healthcare infrastructure are projected to develop the regional market in the assessment tenure. In addition, the participation of developing countries is likely to further drive the regional market.

MEA to Acquire the Least Market Share

MEA region is predicted to procure the least market share during the review period owing to lack of awareness and poor healthcare infrastructure. The Middle East is projected to make the most notable contribution in developing the regional industry due to its economic stability and better health awareness than the African region.

Competitive Landscape

Several players are adopting various strategies such as acquisition, partnership, and mergers that are expected to strengthen the market and intensify the competition.

Key Players Profiled in the Report

• Becton, Dickinson and Company (US)


• Smith & Nephew PLC (UK)


• B. Braun Melsungen AG (Germany)


• 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)

Recent Developments

October 2020- Xenocor, Inc., a US-based healthcare company offering the world's first disposable articulating laparoscope, announced a group purchasing agreement with Premier Inc., a renowned healthcare company headquartered in North Carolina, for their single-use Xenoscope. The Xenocor disposable laparoscopic system is designed to improve image quality, eliminate fogging, lower hospital costs, and reduce biohazard risk for patients and staff.

September 2020- TransEnterix, a US-based medical device company, announced that it established the first training center for the Senhance® Surgical System in the Asia-Pacific region in Japan at the Saitama Medical University International Medical Center in the Greater Tokyo Area.

Segmentation Table

 Laparoscopy Devices Market, By Application

• General Surgery


• Bariatric Surgery


• Gynecological Surgery


• Urological Surgery


• Colorectal Surgery

Laparoscopy Devices Market, By End-User

• Ambulatory centers


• Hospitals and Clinics, and Specialty Centers

Laparoscopy Devices Market, By Product

• Laparoscopes


• Energy Devices


• Insufflation Devices


• Suction/Irrigation Devices


• Handheld Instruments


• Access Devices


• Trocars


• Internal closure devices

Report Scope:

Report Attribute/Metric	Details
Market Size	USD 17,206.32 Million
CAGR	2019-2023: 8.30%
Base Year	2019
Forecast Period	2027
Historical Data	2018
Forecast Units	Value (USD Million)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Product, Application, End User
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	Becton, Dickinson and Company (US), Smith & Nephew PLC (UK), B. Braun Melsungen AG (Germany), 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 Drivers	Increasing Demand for Minimally Invasive Surgeries to Favor the Market Growth

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