The global laparoscopic instruments market is anticipated to reach market size of around US$ 21,000 Mn by 2027 and is anticipated to grow at a CAGR of around 10% in terms of revenue during the forecast period 2020 – 2027. Laparoscopic operation is a procedure where small incisions are performed at a distance. A video camera and several instruments known as laparoscopic devices are used to carry out the surgical procedure. The camera provides a image of the interior of the body on a television or monitor from which the surgeon can see the operating internal organs. So the operator performs in a 3D plane during a laparoscopic procedure, while the operation is viewed on a 2D screen. Such surgeries have other benefits , such as reduced discomfort and less loss of blood because of narrower incisions and quicker after-operative healing due to wider incisions during laparoscopic procedures.
The key reason for the growth of the global laparoscopy procedure market is the growing number of admissions due to rising numbers of bariatric surgeries, such as gastro-circulation, flexible gastric band, and other. as the incidence of obesity grows. The latter has also led to increased healthcare expenses and the implementation of advanced technology in minimal invasive surgery, increasing insurance coverage and the inclination of operators to prescribe minimally invasive surgeons for patients as a result of early postoperative recovery and less postoperative complications. The factors expected to limit laparoscopic instruments market revenue growth over the forecast are high costs, though, for minimally-invasive operations and the lack of laparoscopic surgeons.
With the advancement of robotic procedures and minimally invasive approaches of medical therapies the need for laparoscopy grows daily. The laparoscopic techniques and the high use of laparoscopic instruments are widely used in neurosurgery. Space technology can be used in many medical uses, in particular to enhance endoscopic vision and include high-definition 3D images. Such laparoscopic instruments are used in many procedures in hospitals and in specialist clinics, including general, colorectal, urologic, bariatric and gynecological operations. Professionals are switching from the reusable laparoscopic instruments into disposable devices in most hospitals or specialty clinics, as improperly cleaned and reprocessed devices put patients at high risk of HAI, operating infections and cross-contamination.
In the near future, the demand in Laparoscopic Instruments is likely to see healthy growth due to expanded product releases in developed countries and a growing understanding of endoscopic surgeries. Owing to advancement in technology and the growing number of companies producing laparoscopic instruments in these countries, the laparoscopic instruments market is projected to be the largest share in North America and Europe. It has also been analyzed that more and more European companies are being approved for the CE mark to market their minimally invasive operational devices in the region. Increasing numbers of endoscopic surgeries due to the increased prevalence of obesity and other chronic disorders in the region over the prediction time are expected to register the rapidest growth in Asia-Pacific.
Major players included in this report are Ethicon Inc., Apollo Endosurgery, Boston Scientific, Intuitive Surgical, Medtronic Plc (Covidien), Karl Storz GmbH, Olympus Corporation, Smith & Nephew Inc., CONMED Corporation, Richard Wolf GmbH, Cook Medical Inc., Aesculap, Stryker Corporation, Microline Surgical, and others. Partnership and new product launch were most popular strategy among the key players in laparoscopic instruments market. Olympus, a key player in the market announced an innovative solution for laparoscopic surgery, with the launch of Endoeye Flex 3D and FlexDex Needle driver.
The global laparoscopic instruments market is segmented as below:
Laparoscopic Instruments Market By Product
Laparoscopic Instruments Market By Application
Laparoscopic Instruments Market By End-Use
Ambulatory surgical centers
Laparoscopic Instruments Market By Geography
Middle East & Africa
The market value of laparoscopic instruments is anticipated to be around US$ 21,000 Mn in 2027.
It is anticipated to grow around 10% CAGR amid the forecast period 2020-2027
North America held maximum share in 2019.
Asia Pacific is projected to grow at a fast pace during forecast period from 2020-2027.
Increasing number of laparoscopic bariatric procedures is expected to drive the growth of the laparoscopic instruments market.
Increasing preference for robotic surgeries as an alternative to laparoscopic procedures is a major factor expected to restraint the growth of the market.
Ethicon Inc., Apollo Endosurgery, Boston Scientific, Intuitive Surgical, Medtronic Plc (Covidien), Karl Storz GmbH, Olympus Corporation, Smith & Nephew Inc., CONMED Corporation, Richard Wolf GmbH, Cook Medical Inc., Aesculap, Stryker Corporation, Microline Surgical, and others are the prominent players in the laparoscopic instruments market.