Laparoscopy Devices Market Share, Global Overview, Business Growth, Sales Revenue & Competition
Market Research Future (MRFR) collected data on several factors including implications of COVID 19 Impact on Laparoscopy Devices Market and demographic challenges, showed how it could move forward in the coming years.
Laparoscopy Devices Market Competitive Analysis:
Leading players in the global laparoscopy devices market include Stryker Corporation, Karl Storz GmbH & Co. KG, WISAP Medical Technology GmbH, Mediflex Surgical Products, Richard Wolf GmbH, Smith & Nephew plc, Medtronic plc, Vimex Endoscopy, Scholly Fiberoptic GmbH, Johnson & Johnson Medical, Boston Scientific Corporation, Olympus Corporation, B. Braun Melsungen AG, Schindler, ConMed Corporation, and Integra Inc.
Laparoscopy Devices Market Overview
Global laparoscopy devices market size is expected to exhibit a robust 7.2% CAGR over the forecast period from 2018 to 2023, according to a new research report from Market Research Future (MRFR). The growing demand for minimally invasive medical procedures and the growing efficiency of laparoscopic procedures are likely to be the key drivers for the global laparoscopy devices market over the forecast period.
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Laparoscopy procedures are performed with a fiber-optic instrument, which is inserted into the abdominal wall to view the internal organs in the abdominal cavity. Small surgical procedures can also be performed with laparoscopy devices, although it’s not their primary remit. The demand for laparoscopy devices is mainly driven by the growing demand for effective imaging for diagnostic purposes in diseases such as urinary diseases, gynecological diseases, cancer, and other chronic diseases. Since laparoscopy consists of physically moving a camera up to the location of the disease, it provides better imaging results than other imaging modalities, which is likely to drive the demand from the laparoscopy devices market over the forecast period.
The growing prevalence of colorectal cancer and gynecological disorders is likely to be a major driver for the laparoscopy devices market over the forecast period. According to the CDC, more than two-thirds of all Americans in the age group of 50-75 were screened for colorectal cancer in 2016, leading to a consistent demand for laparoscopy devices. The growing prevalence of colorectal cancer is thus likely to be a major driver for the laparoscopy devices market over the forecast period. The growing demand for rapid and precise diagnostics and the rising innovation in the laparoscopy devices market, leading to the development of more advanced and more effective models, are likely to be major drivers for the global laparoscopy devices market over the forecast period.
Laparoscopy Devices Market Segmentation:
The global laparoscopy device market is segmented on the basis of product, application, end user, and region.
By product, the laparoscopy device market is segmented into laparoscopes, energy devices, insufflators, robot-assisted surgery systems, suction or irrigation systems, closure devices, hand instruments, access devices, accessories, and others.
On the basis of application, the global laparoscopy devices market is segmented into general surgery, bariatric surgery, gynecological surgery, urological surgery, colorectal surgery, and others. The general surgery segment is further sub-segmented into cholecystectomies, hernia repairs, appendectomies, anti-reflux surgeries, and others. Bariatric surgery is further subdivided into gastric bypass, sleeve gastrectomy, gastric banding, and others. The gynecological surgery segment is further categorized into ovarian cystectomy, oophorectomy, myomectomy, hysterectomy, biopsy, and others.
On the basis of end user, the global laparoscopy devices market is segmented into hospitals and clinics, ambulatory surgical centers, laparoscopic centers, and others.
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Laparoscopy Devices Market Regional Analysis:
The global laparoscopy device market is segmented by region into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas is likely to be the major regional market for laparoscopy devices over the forecast period due to the growing demand for bariatric surgeries in the region and the growing prevalence of colorectal cancer. Bariatric surgeries are becoming increasingly popular in the region due to the increasing prevalence of obesity, which has driven the demand for laparoscopic procedures and devices. The growing prevalence of lifestyle conditions enabling a steady rise in obesity is likely to be a major driver for the laparoscopy devices market in the Americas over the forecast period.
Europe is also likely to retain a dominant share in the global laparoscopy devices market over the forecast period due to the growing prevalence of colorectal cancer and gynecological conditions requiring the laparoscopy procedure. Bowel cancer is likely to remain a key application area for the laparoscopy devices market in Europe over the forecast period.
Asia Pacific is also likely to play a key role in the global laparoscopy devices market over the forecast period due to the increasing number of patients and the increasing demand for minimally invasive surgeries.