Number of pages: 100 | Report Format: PDF | Published date: 14 July, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
The global laparoscopic devices market was pegged at US$ 6.90 billion in 2021 and is expected to witness a CAGR of 7.10% during the forecast period from 2022 to 2030.
Laparoscopy is a type of surgical procedure which is performed using small cuts and is minimally invasive surgery. This procedure is performed using a laparoscope, a slender tool that includes a tiny video camera with a light on the end. This device helps the physician to have a clear understanding of the illness with just a tiny cut using an inbuilt video monitoring system in the laparoscopic device. Laparoscopy includes various devices such as energy devices, laparoscopes, insufflation devices, suction/irrigation devices, and so on during the procedure.
The laparoscopic devices market is experiencing steady growth and is expected to grow over the forecast period. The increasing prevalence of various health issues such as uterine fibroids and endometriosis, and growing hysterectomy & myomectomy procedures contribute to the overall market growth. Additionally, the growing geriatric population and high availability of laparoscopic devices are also some of the major drivers in this market. Furthermore, the rapid development of infrastructure in emerging countries (India, China, Russia, etc.) also gave a boost to laparoscopic devices. Also, the expansion strategies of the market key players prove to be a beneficial factor in this market. Moreover, the growing supportive government policies/laws and favorable reimbursement policies help in propelling the market.
The global laparoscopic devices market has been analyzed from four perspectives: By Product, Application, End-User, and Region.
Laparoscopic Devices Market by Product
Based on product, the laparoscopic devices market has been segmented into energy devices, laparoscopes, insufflation devices, suction/irrigation devices, internal closure devices, robot-assisted surgical systems, and hand instruments. Energy devices dominate this segment with the largest revenue share in the market. The energy devices allow rapid tissue and vessel healing & coagulation during laparoscopic surgeries. These energy devices have a wide application in bariatric surgeries such as gastric bypass, adjustable gastric band, biliopancreatic diversion with duodenal switch, and sleeve gastrectomy, thereby fueling the laparoscopic devices market.
Laparoscopic Devices Market by Application
The laparoscopic devices market has various applications such as gynecology surgery, general surgery, urology surgery, bariatric surgery, colorectal surgery, and so on. However, general surgery dominates the market with the largest share. The growth of the market can be attributed to the demand for the application of trocars in general surgeries. The trocars are utilized widely in surgery as they provide a clear & deep view of the tissue without using high-tech cameras. Furthermore, benefits such as low postoperative infection, high success rate, and rapid recovery are estimated to propel market growth.
Laparoscopic Devices Market by End User
Based on end-user, the market has been segmented into hospitals & clinics, ambulatory surgical centers, and specialty centers. The hospital & clinic segment is expected to show constant dominance in the laparoscopic devices market with the largest revenue share in the forecast period. This service acts as a bridge between patients and conventional healthcare facilities such as hospitals and clinics.
Laparoscopic Devices Market by Region
Based on regions, the market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America dominates the global laparoscopic devices market with the largest revenue share and is also expected to retain its lead in the forecast period. The growth of this market can be owed to the increasing demand for skilled physicians, the growing geriatric population, rising prevalence of chronic diseases, increasing patient base, growth in government initiatives, adoption of technological advancements, and many more.
Some of the prominent players operating in the global laparoscopic devices market are