The size of the Laparoscopy Device Market in the Asia-Pacific was worth USD 1.36 billion in 2022 and is estimated to be growing at a CAGR of 8.23% to reach USD 2.03 billion by 2027.
The growing number of obese people, the rising number of minimally invasive procedures, and increasing disposable income are expected to drive the APAC laparoscopy devices market growth. In addition, the surge in laparoscopic-based bariatric surgeries for weight loss and technological advancements in these devices are expected to propel the laparoscopy devices market growth in APAC.
On the other hand, using these devices in surgical procedures helps keep bleeding to a minimum and preserves blood clotting, which is expected to favor the APAC laparoscopy devices market growth. Moreover, the rising investments and financing in the healthcare industry undoubtedly generate several profitable possibilities for major regional players. In addition, the benefits of minimally invasive surgeries over traditional open procedures include a better and enlarged picture of the organs or body parts being operated on and improved precision thanks to video-assisted technology.
The patients require fewer painkillers after minimally invasive treatments because they cause less post-operative discomfort. Also, owing to the benefits, the hospital stay is usually less, and patients do not need to return to the hospital frequently because there are minimal incisions or sutures. Further, the market development is aided by increased bariatric operations performed to help people lose weight.
The laparoscopy devices market in the APAC region is expected to be restrained by a lack of competence in laparoscopic operations and the high costs connected with this equipment and procedures. In addition, the factors such as undesirable effects such as infection, risk of injuring internal structures, and increased use of robotics-assisted surgeries impede the APAC's laparoscopy devices market growth.
This research report on the APAC laboratory devices market has been segmented and sub-segmented into the following categories:
By Product Type:
By Therapeutic Application:
By End Users:
Regionally, the Asia Pacific to offer great opportunities to this market in the coming years. This regional market will grow much faster than the US and European markets. Due to an increase in the geriatric population in countries like India and China, the market is estimated to experience robust growth in the forecast period. The APAC Laparoscopy Devices Market is expected to account for a significant share due to improvements in healthcare facilities, accessible disposable income, and the fastest-growing economic regions such as China, Japan, and India. Moreover, India is anticipated to emerge as a lucrative market with the highest development potential during the forecast period.
The Chinese laparoscopy devices market is projected to witness a significant share in the APAC market during the forecast period. The population suffering from overweight issues is growing significantly in China, which is expected to contribute to the market growth in China.
The Japanese laparoscopy devices market is predicted to showcase a healthy CAGR from 2022 to 2027. In Japan 2018, according to the Ministry of Health, Labour, and Welfare of Japan, over 162 males per 1 lakh people died because of cardiac illnesses, which has increased from the year were more than 135 men per 100,000 people. In 2018, after malignant neoplasm heart illnesses, it was the second-largest cause of mortality in the male population. Therefore, the rising prevalence of chronic diseases is projected to boost the number of minimally invasive surgical operations; it will also fuel market growth in the upcoming years.
The Australian laparoscopy devices market is forecasted to showcase a prominent CAGR during the forecast period. According to the Australia Bureau of Statistics, 47.3% of Australians had one or more chronic diseases in the past years, with a significant increase from 2007-08, when 42.2 percent of people had one or more chronic conditions, two- fifth. Furthermore, the adoption rate has been growing due to the benefits of minimally invasive procedures, boosting the market's overall growth.
KEY MARKET PLAYERS:
A few of the notable companies that dominate the APAC laparoscopy devices market in this report are Boston Scientific Corporation, Karl Storz, ConMed, Aesculap, Covidien, Olympus, Intuitive Surgical Stryker, Medtronic, B. Braun Melsungen AG, Ethicon US LLC, and Smith & Nephew.
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