Global Laparoscopic Devices Market Size, Share, and COVID-19 Impact Analysis, By Product (Laparoscopes, Energy Systems, Trocars, Closure Devices, Suction/Irrigation Devices, Robot Assisted Systems, Hand Access Instruments), By Application (Bariatric Surgery, Gynecological Surgery, Colorectal Surgery, and Other surgeries), By End User (Ambulatory Centers, Hospitals, Clinics, and Other End Users), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032Industry: Healthcare
Global Laparoscopic Devices Market Insights Forecasts to 2032
- The Global Laparoscopic Devices Market Size was valued at USD 7.2 billion in 2022.
- The market is growing at a CAGR of 8.5% from 2022 to 2032.
- The worldwide Laparoscopic Devices Market size is expected to reach USD 16.3 billion by 2032.
- Asia Pacific is expected to grow the fastest during the forecast period.
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The Global Laparoscopic Devices Market Size is expected to reach USD 16.3 billion by 2032, at a CAGR of 8.5% during the forecast period 2022 to 2032.
Laparoscopic equipment includes a small, two-dimensional camera with a light source. A minimally invasive surgical procedure called laparoscopy uses much smaller incisions than traditional surgery, resulting in less discomfort, a quicker recovery, and less blood loss. Laparoscopic device reprocessing calls for particular training and tools. Surgeons can operate specialized laparoscopic devices at the target location and perform the procedure thanks to the camera linked to laparoscopic tools. As energy devices, laparoscopes, and robot-assisted systems have become more advanced technologically, there has been a huge growth in the need for laparoscopic gadgets. As a result of its many advantages including a shorter hospital stay, less blood loss, and lower patient morbidity laparoscopy is now more frequently chosen than traditional surgeries. It also provides quick recovery times, quick and successful outcomes, a low risk of infection, a small or no incision, and less pain. The demand for laparoscopic equipment is projected to increase throughout the forecast period because laparoscopic surgery is becoming increasingly popular.
This research report categorizes the global laparoscopic devices market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global laparoscopic devices market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global laparoscopic devices market. Technological innovation and advancement will further optimize the performance of the product, enabling it to acquire a wider range of applications in the downstream market.
Global Laparoscopic Devices Market Report Coverage
|Market Size in 2022:||USD 7.2 billion|
|Forecast Period:||2022 - 2032|
|Forecast Period 2022 - 2032 CAGR:||8.5%|
|2032 Value Projection:||USD 16.3 billion|
|Historical Data for:||2018 - 2021|
|No. of Pages:||210|
|Tables, Charts & Figures:||123|
|Segments covered:||By Product, By Application, By End User, By Region|
|Companies Covered:||Karl Storz SE & CO. Kg, Medtronic, Johnson and Johnson, Olympus Corporation, CONMED Corporation, B. Braun Melsungen AG, The Cooper Companies Inc., Richard Wolf GmbH, Microline Surgical, BD, Welfare Medical Ltd, Intuitive Surgical, Shenzen Mindray Bio Medical Electronics Co., Ltd|
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The rise in patients with conditions like uterine fibroids and endometriosis, as well as the rising demand for hysterectomy and myomectomy surgeries, are the main factors fueling the market's expansion. Another factor is growing public awareness of the developing healthcare infrastructure in emerging economies. Additionally, favorable reimbursement policies in some countries are anticipated to increase laparoscopic power morcellator sales in those countries. Applications for laparoscopic devices are expanding as a consequence of considerable growth in the world's elderly population and the development of energy systems, which have improved their availability and affordability. The development of the laparoscopic equipment industry is also being aided by the nation's pro-laparoscopy government policies and regulations. Furthermore, a growing preference for less invasive laparoscopic technology is driving this industry forward. Because of the decreased trauma, less invasive surgical techniques are becoming increasingly popular.
The market's growth pace is severely hampered by a shortage of skilled specialists, limited expenditure, expensive equipment, and lax reimbursement regulations. One of the main reasons restraining the growth of the worldwide market for laparoscopic devices is the rise in product recalls by regulatory bodies like the Government of Canada. For instance, the universal plus laparoscopic electrode, a class II device made by the medical technology company CONMED, was recalled by the Canadian government in April 2022. The tip of the universal plus laparoscopic electrode might separate during usage, which is what prompted the product recall.
- In 2022 the energy systems segment is influencing the market with the largest market share over the forecast period.
On the basis of product type, the global laparoscopic devices market is into different segments such as laparoscopes, energy systems, trocars, closure devices, suction/irrigation devices, robot-assisted systems, and hand access instruments. Among these segments, the energy systems segment holds the largest revenue of 21% during the forecast period. During laparoscopic surgery, energy systems enable quick sequential vascular transaction, coagulation, and tissue sealing. Various bariatric operations, including sleeve gastrectomy, gastric bypass, adjustable gastric bands, and biliopancreatic diversion with a duodenal switch, frequently employ these devices.
Over the projected period, it is estimated that the insufflation device sector will register a CAGR of 7.9%. The abdominal cavity may be easily and safely insufflated with humidified carbon dioxide using insufflation devices. The factors most likely to drive market expansion are the increasing prevalence and incidence of illnesses such as colorectal cancer.
- In 2022, the other surgeries segment is dominating the largest market growth during the forecast period.
Based on the applications, the market for laparoscopic devices is divided into several subsectors based including bariatric surgery, gynecological surgery, colorectal surgery, and other operations. The other procedures category, which made up one of these categories and held a market share of about 22.5% of the revenue for laparoscopic devices. Colon, thoracic, prostate, and cholecystectomy laparoscopies are among the other surgical procedures. The worldwide laparoscopy equipment market is expanding as colon laparoscopy usage increases. The adoption of less invasive laparoscopic tools is assisting in the segment's expansion. For example, it is expected that demand for colon laparoscopy would increase consistently as new techniques are developed to increase its success rate. Consequently, a moderate growth rate for this market segment is anticipated throughout the forecast period.
- In 2022, the hospital segment is dominating the market with the largest market share of 61.1% during the forecast period.
Based on the end users, the global laparoscopic devices market is bifurcated into segments such as ambulatory centers, hospitals, clinics, and other end users. Among these, the hospital segment holds the highest market revenue share of 61.1% during the forecast period. The expansion of this market may be primarily due to an increase in the number of patients with various chronic conditions and the ensuing rise in surgical operations. Hospitals see a significantly higher influx of patients for bariatric surgeries or other laparoscopic procedures compared to other healthcare settings because of the simplicity of handling any emergencies that may arise during surgical procedures and the accessibility of a wide range of treatment options in such facilities.
Regional Segment Analysis of the global laparoscopic devices market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America dominates the global laparoscopic devices market with 34.4% growth over the forecast period
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North America dominated the laparoscopic devices market and accounted for the highest revenue share of 34.4%. The increased preference for laparoscopic treatments over open surgeries is one of the key reasons driving the market. Additionally, the market for the laparoscopic device would be impacted by rivalry among major manufacturers, connected to product innovation. Moreover, because laparoscopy encourages speedy healing and effective outcomes, it is now chosen above conventional treatments by surgeons. Furthermore, growing healthcare expenses in the US may encourage both fresh and existing rivals to enter the market.
The Asia Pacific region is predicted to experience a CAGR of 7.8% for the laparoscopic device market during the forecast period, because there are more contemporary, well-equipped hospitals and more surgical procedures being performed.
The report offers the appropriate analysis of the key organizations/companies involved within the global laparoscopic devices market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Karl Storz SE & CO. Kg
- Johnson and Johnson
- Olympus Corporation
- CONMED Corporation
- B. Braun Melsungen AG
- The Cooper Companies Inc.
- Richard Wolf GmbH
- Microline Surgical
- Welfare Medical Ltd
- Intuitive Surgical
- Shenzen Mindray Bio Medical Electronics Co., Ltd
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In September 2021, The POWERSEAL range of cutting-edge bipolar surgical energy tools was introduced by Olympus Corporation, giving surgeons cutting-edge sealing, dissection, and gripping capabilities in laparoscopic or open surgery while significantly lowering the force needed to shut the jaws.
- In July 2021, A medical device business called Palliare declared that the US FDA has granted 510(k) approval for their END-200 tubes. The possibilities of EVA15 insufflation technology can be increased with END-200 tubes. The EVA15 smoke evacuation and insufflation device is utilized in endoscopic, laparoscopic, and endoluminal surgery and offers hands-free control and continuous pressure delivery during therapeutic endoscopic treatments.
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Laparoscopic Devices Market based on the below-mentioned segments:
Global Laparoscopic Devices Market, By Product
- Energy Systems
- Closure Devices
- Suction/Irrigation Devices
- Robot Assisted Systems
- Hand Access Instruments
Global Laparoscopic Devices Market, By Application
- Bariatric Surgery
- Gynecological Surgery
- Colorectal Surgery
- Other Applications
Global Laparoscopic Devices Market, By End Users
- Ambulatory Centers
- Other End Users
Laparoscopic Devices Market, By Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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