The size of the Laparoscopy Device Market in Europe is predicted to be valued at USD 2.78 billion by 2028 from USD 1.96 billion in 2023, growing at a CAGR of 7.28% from 2023 to 2028.
Europe’s shift to a diagnosis-related group (DRG) based reimbursement system emphasizes the significance of these improvements in minimally invasive surgery. Laparoscopic devices characterize multiple laparoscopic instruments into one, causing reduced operating times and greater surgical efficiency. These devices are bipolar devices that serve as multifunctional devices that allow surgeons to both seal and grasp. With superior recovery times and decreased postoperative pain, laparoscopy is preferred over any other old techniques.
Factors such as the rising use of invasive surgeries over open surgeries, the rising frequency of colorectal cancer, the rising number of laparoscopic bariatric treatments, and technological advancements in the field of laparoscopy are contributing to market expansion. In addition, laparoscopic instrument manufacturers will be compelled to focus on emerging countries in the next few years due to saturated established markets in developed regions such as Europe. One of the primary reasons driving the market's growth throughout the forecast period is the rising prevalence of obesity among people of all ages. Obesity and overweight are serious health issues that can lead to various diseases and problems, including diabetes, cardiovascular disease, and cancer. Traditional laparoscopic instruments (diameters 10–12 mm) are being replaced by recently created laparoscopic instruments with sizes less than 3 mm in micro-laparoscopy, a new technology utilized in laparoscopic procedures. When compared to traditional methods of lap surgery, the use of single-site incision surgery has increased. Growing demand for data-integrated imaging systems and new regions are likely to provide significant potential prospects.
Laparoscopy allows a doctor to view a patient's body in real-time without requiring open surgery. The rising demand for laparoscopic operations, particularly bariatric surgery, has boosted the industry tremendously. The expansion of 5G communication technologies for robot-assisted surgery in the European laparoscopic device market is offering value-grab opportunities. Researchers are using swine models to evaluate the usefulness of 5G ultra-remote robot-assisted laparoscopic procedures due to a lack of evidence about their performance, stability, and safety. Governments, healthcare organizations, and investors sponsor startups in the laparoscopic equipment sector to develop robotic technologies. Because traditional devices have a significant learning curve and training period, healthcare entrepreneurs in the laparoscopic devices industry are strengthening their R&D muscle in robotic laparoscopy devices. The surgical operations market is dominated by laparoscopic colectomy, laparoscopic appendectomy, laparoscopic cholecystectomy, laparoscopic repair of inguinal hernia, laparoscopic hysterectomy, and laparoscopic bariatric surgeries.
Increasing competition for device manufacturing companies is a challenge for market participants. The increased desire for robotic surgeries as an alternative to laparoscopic procedures and the launch of revolutionary laparoscopic devices are projected to limit the market growth. Furthermore, the European laparoscopic devices market is likely to be hampered by a dearth of qualified laparoscopic surgeons and the high cost of laparoscopic equipment over the forecast period. Furthermore, training requirements and a dearth of high-quality data are roadblocks to the rapid adoption of robot-assisted laparoscopy, limiting the laparoscopic device market's growth in the European region.
This research report on the European Laboratory devices market has been segmented and sub-segmented into the following categories:
By Product Type:
By Therapeutic Application:
By End Users:
Regionally, the major population in the U.K. is obese and aged, which drives the market for this region. Hence, it is expected to witness lucrative growth in the forecast period. The German laparoscopy devices market is expected to dominate the European market during the forecast period. As a result, Germany is expected to rise throughout Europe. The growing geriatric population and the increased frequency of abdominal and gastrointestinal disorders are driving the use of sophisticated laparoscopic instruments. Its advantages of less postoperative pain and shorter hospital stays outweigh its drawbacks, resulting in increased acceptance in healthcare settings. The high prevalence of morbid diseases and chronic medical issues, together with the rising demand for minimally invasive surgery, is boosting the regional market.
KEY MARKET PLAYERS:
A few promising European laparoscopy devices market companies profiled 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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