The global laparoscopic devices market size is expected to reach USD 12.6 billion by 2030, registering a CAGR of 7.35% over the forecast period, according to a new report by Grand View Research, Inc. The primary driving factors for market growth are the increasing adoption of minimally invasive surgeries over conventional methods, an increase in the number of laparoscopic bariatric procedures, and technological advancements. The COVID-19 pandemic has created a significant challenge for the global healthcare industry. Restricted access to medical services has led to inadequate care for patients suffering from other diseases. Laparoscopy has been adversely impacted by the pandemic. During this period, surgeries are often being postponed or even canceled to prevent transmission of the virus.
Laparoscopic Devices Market Report Highlights
- The energy systems segment accounted for the largest revenue share of 21.1% in 2022, owing to an increase in the number of patients suffering from ulcerative colitis, Crohn’s disease, gall bladder problems, diverticulitis, and obesity is driving segment growth
- The other surgeries segment dominated the market and accounted for a revenue share of around 22.5% in 2022. Other surgeries majorly include cholecystectomy laparoscopy, colon laparoscopy, and prostrate laparoscopy. The growth of the segment is due to constant innovation being employed to boost its success rate
- The hospital segment captured the largest revenue share of around 61.6% in 2022. The growth of this segment can mainly be attributed to an increase in the number of patients suffering from various chronic ailments and the consequent rise in surgical procedures
- Asia Pacific is expected to witness a CAGR of 7.8% over the forecast period. This is due to a large number of surgical procedures. An increase in the number of well-equipped is also expected to boost the market growth in the region over the forecast period
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Laparoscopic devices, also known as minimally invasive surgical instruments, have revolutionized the field of surgery by enabling surgeons to perform procedures with smaller incisions, reduced trauma, and faster recovery times for patients. These devices are specifically designed for laparoscopic surgeries, which involve the use of a laparoscope (a long, slender instrument with a camera) inserted through a small incision to visualize the surgical site. Laparoscopic devices include various instruments such as trocars, graspers, scissors, dissectors, and suturing devices, among others. These instruments are typically long, slender, and flexible to navigate through the small incisions while maintaining precise control and dexterity. Laparoscopic devices allow surgeons to perform a wide range of procedures, including gallbladder removal, hernia repair, and organ biopsies, with minimal invasiveness, reduced post-operative pain, and faster recovery for patients. The continuous advancements in laparoscopic device technology have further improved surgical outcomes, making laparoscopy a preferred option in many surgical specialties.
Robotic-assisted laparoscopy surgical systems, such as the da Vinci Surgical System, have gained popularity in laparoscopic procedures. These systems offer enhanced precision, dexterity, and visualization capabilities to surgeons, enabling complex surgeries with minimal invasiveness. The integration of robotics with laparoscopic devices continues to advance, expanding the range of procedures that can be performed using this technology. There is a growing trend towards miniaturization of laparoscopic instruments, allowing for smaller incisions and reduced trauma to the patient. Miniaturized instruments offer improved maneuverability and access to confined spaces within the body, enabling surgeons to perform intricate procedures with greater precision. Single-incision laparoscopic surgery (SILS) involves performing the entire procedure through a single small incision, typically in the umbilicus. This approach offers improved cosmetic outcomes and potentially reduces post-operative pain. Advancements in specialized access ports and instruments tailored for SILS have expanded the range of procedures that can be performed using this technique.
Laparoscopic devices are incorporating advanced imaging technologies, such as fluorescence imaging and near-infrared imaging, to enhance visualization during surgery. These technologies provide real-time feedback on blood flow, tissue perfusion, and identification of anatomical structures, improving surgical precision and outcomes. The integration of sensors, tracking systems, and data analytics into laparoscopic instruments is an emerging trend. Smart instruments can provide real-time feedback on instrument position, forces applied, and tissue characteristics, assisting surgeons in making informed decisions during surgery and potentially reducing complications. Traditional laparoscopic procedures are performed using 2D visual displays. However, the adoption of 3D visualization systems is increasing, providing surgeons with improved depth perception and spatial awareness. These systems enhance surgical precision and can facilitate complex procedures that require precise anatomical orientation. The laparoscopic devices industry is witnessing advancements in virtual reality (VR) and augmented reality (AR) simulation systems for surgical training. These technologies allow surgeons to practice and refine their laparoscopic skills in a realistic and safe environment, improving proficiency and reducing learning curves.
However, the market is expected to rebound and grow over the forecast period, as most the countries across the globe have started easing lockdown measures and restarted some of the elective procedures. Over the forecast period, technological advancements are expected to be a crucial driver in the growth of the market. For example, in September 2021, Olympus released the first innovative bipolar surgical energy product, which is named POWERSEALTM. Furthermore, the devices let Olympus compete in the developing global market for advanced bipolar surgical energy devices, which is now valued at over USD 1.2 billion and is expected to grow in the near future.
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Laparoscopic Devices Market Insights By Region
North America dominated the laparoscopic devices market. Increasing dependence on laparoscopic surgeries compared to open surgeries is a major factor driving the market. Surgeons are now recommending laparoscopy over traditional surgeries, as it allows for rapid healing and positive outcome. In addition, increasing healthcare expenditure in the U.S. may also favor the entry of both new and old players. Asia Pacific region market is expected to witness a lucrative growth during the forecast period owing to an increase in the number of advanced, well-equipped hospitals and a large number of surgical procedures are boosting the market growth in the Asia Pacific over the forecast period. Singapore and South Korea are some of the emerging economies in the Asia Pacific region. Advancing technology, increasing investment, improving reimbursement scenarios, and growing medical tourism are likely to drive the market in the region.
Competitive Analysis By Major Players
With the surge in demand for laparoscopic devices, global manufacturers are speeding up their production processes while also upgrading them through the use of cost-effective solutions. To maintain the surge in demand from diverse laparoscopic devices applications, leading businesses in the market are enforcing higher product quality through mergers and acquisition. Some of the prominent players in the global laparoscopic devices market include:
- Karl Storz SE & CO. Kg
- Medtronic
- Johnson and Johnson
- Olympus Corporation
- CONMED Corporation
- Braun Melsungen AG
- The Cooper Companies Inc.
Segmented the global laparoscopic devices market on the basis of product, application, end-user, and region.
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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