Laparoscopy Device Market Overview

Laparoscopy was initially used in the field of gynaecology as a diagnostic tool and now it has developed as a standard procedure for several surgeries. These procedures are becoming affordable for large number of patients due to continuous decline in the cost of laparoscopy and thus rising demand for laparoscopic devices.

Laparoscopy technique has different advantages over existing techniques such as cost efficiencies in treatment, fast recovery, and limited post-operative trauma and less scars. This technique is used in various surgical fields namely, hernia repair, appendectomy and gallbladder surgery. The laparoscopic device used in the surgery consists of a tube which is placed through the abdominal wall and enables the surgeon to view the internal organs.

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Main factors driving the laparoscopy devices market are increasing health awareness regarding obesity, increasing aged population, rising adoption of single-port laparoscopy and rising interest in scarless surgeries. The growth of the laparoscopy device market is benefited from continuous improvements in technology and alongside reduction in the charges of high-end laparoscopic instruments. The market has observed a change from direct energy based devices to multifunctional instruments. Lack of skilled surgeons and high price of laparoscopic devices are hindering the growth of the market.



Laparoscopy Device Market Forecast Report (2018-2023)

The Global Laparoscopy Device Market worth was USD 8.98 billion in 2018 and estimated to be growing at a CAGR of 7.45%, to reach USD 12.86 billion by 2023.



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Laparoscopy Device Market Segmentation

The global laparoscopic market is classified on the basis of product into internal closure devices, laparoscopes, hand access instruments, robotic assisted surgical system, direct energy systems and insufflation devices. Based on therapeutic application the market is classified into colorectal surgery, gynaecological surgery, general surgery, bariatric surgery and urological surgery. On the basis of end-users the market is divided into hospitals, clinics and ambulatory surgical centres. Direct energy system devices classified has accounted for maximum share in 2016 and is projected to register a healthy CAGR in the forecast period.

Based on geography the market is classified under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. North America is supposed to lead the global laparoscopic devices market in terms of revenue share during the forecast period. Asia-Pacific is estimated to witness major growth fuelled by the factors like increasing geriatrics population and increase in abdominal disorders in the region.



Key Developments in the Market

The study gives an in-depth analysis, current trends, and future estimations of the global laparoscopy devices market to explain the imminent investment pockets.
Comprehensive study of factors that drive and restrict the market growth is provided.
A quantitative analysis of the industry from 2014 to 2022 is provided to allow stakeholders to capitalize on the prevailing market opportunities.
Extensive analyses of main segments of the industry is presented to help understand the type of products and applications used globally.
Major market players and their strategies are analyzed to understand the competitive outlook of the market.


Major Players:

Some of the major players in the laparoscopy device market are

Boston Scientific Corporation
Karl Storz, ConMed
Aesculap
Covidien
Olympus
Intuitive Surgical
Stryker
Medtronic
Braun Melsungen AG
Ethicon US LLC
Smith & Nephew.
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