Laparoscopy Devices Market

Laparoscopy Devices Market Size (2022 to 2027)

The global laparoscopic devices market is forecasted to be worth USD 13.82 billion by 2027 from USD 9.65 billion in 2022, witnessing a CAGR of 7.45% from 2022 to 2027.

Laparoscopy Devices Market Share Insights:

• Based on the product, the direct energy systems segment was the leading segment and occupied 24.8% of the share in the global market in 2021.
• Based on the end-user, the hospital segment accounted for the most significant share of 65.4% in the global laparoscopy devices market. On the other hand, the ambulatory surgical centers segment is expected to grow at a CAGR of 6.06% from 2022 to 2027.
• As a result, North America was the regional market leader, valued at USD 3.07 billion in 2021.
• The European region is anticipated to be USD 4 billion by 2027.
• The market in the Asia-Pacific region is estimated to grow at a CAGR of 9.4% from 2022 to 2027.

MARKET DRIVERS:

YOY growth in the incidence of life-threatening diseases such as colorectal cancer propels the global laparoscopy devices market growth.

Factors such as gall bladder issues, Crohn's disease, and obesity drive the laparoscopy devices market growth. Also, the increase in disposable income of the population is acting as a driver in the laparoscopy devices market growth. Furthermore, the fast-growing technology in the forecast period is robots performing a particular task. Developing products and actions to serve the right to give orders drives the global laparoscopy devices market growth. Obesity is a primary chronic disease suffered by a large number of people. More than 1 billion people are suffering from obesity, which will increase in the coming years. This leads to a shorter life span and is prone to diabetes, sleep apnea, and cardiovascular diseases. Laparoscopic gastric banding is a well-known surgery to help with weight loss. This surgeon's use of different types of devices in the upper part of the stomach will help the surgeon make the treatment easy.

MARKET RESTRAINTS:

The lack of awareness among people about laparoscopic surgeries and devices and unstable reimbursement of laparoscopy devices restrain the global market growth over the forecast period. In addition, postoperative risks associated with laparoscopy procedures also limit the market. The lack of skillful professionals or doctors for laparoscopic procedures related to postoperative risk may restrict the global laparoscopy devices market growth.

Impact of COVID-19 on the global laparoscopy devices market

The COVID-19 pandemic has created a disruptive impact on the global laparoscopic devices market. During the lockdown period, many manufacturing companies have temporarily closed their operations, resulting in a slight decline in laparoscopy devices' production. Laparoscopy is an aerosol-forming procedure that increases the risk of spreading the virus during surgery. During laparoscopy surgery, using the laparoscopy devices for the surgery by healthcare providers may have a chance to spread the virus between them. Electrosurgery and ultrasonic surgery produce surgical smoke with particles sized during the procedure. The research found that surgical smoke can contain viral particles of HIV, hepatitis B, and HPV. Therefore, there is a chance of the virus transmission through surgical smoke to healthcare workers. These laparoscopy surgeries are not performed for COVID-19-positive or suspected patients, and postpone of these surgeries will reduce the market growth. Device manufacturers across the countries like India and China have tremendous opportunities to increase their productivity and generate maximum revenue during the pandemic period. The other countries have initiated their plans to simplify the inclusion of various developments.

REPORT COVERAGE:

This research report on the global laparoscopy devices market has been segmented and sub-segmented based on the product type, therapeutic application, end-users, and region.

Laparoscopy Devices Market - By Product Type:

• Internal Closure Devices

• Hand Access Instruments
• Robotic-Assisted Surgical System
• Laparoscopes
• Direct Energy Systems
• insufflation Devices

Based on product type, the direct energy system devices segment accounted for the maximum share in 2020 and is projected to register a healthy CAGR in the forecast period.

The laparoscopes segment is another lucrative segment among all. The rise in the number of start-ups dealing with laparoscopy instruments authorized by the latest robotic platforms favors this segment's growth.

The robot-assisted surgical systems segment was overgrowing and is expected to have a lucrative CAGR during the forecast period. Factors such as new product launches and enhanced patient care facilities favor the segment's growth as a surgical robot is a computer-controlled device that can be programmed to help change the position of surgical instruments according to the instructions. These surgical robotics is now used in laparoscopy for uncomplicated and less infection spread to the patients. As a result, robot-assisted laparoscopic surgery is to help surgeons improve patient care. In addition, robot-assisted laparoscopic surgery includes less postoperative pain, smaller and more cosmetically appealing incisions, shorter hospital stay, shorter recovery time, and faster return to work. Therefore, increasing these robotic surgeries gives the market more scope to drive during the forecast period.

Laparoscopy Devices Market - By Therapeutic Application:

• Colorectal Surgery

• Gynecological Surgery
• General Surgery
• Bariatric Surgery
• Urological Surgery

Based on the therapeutic application, the general surgery segment will dominate the global laparoscopy devices market during the forecast period. The rising number of gall bladder removal cases, patients suffering from a hernia, particularly women, and surgical removal of the appendix escalate the market growth.

The bariatric surgery segment is expected to witness the highest CAGR forecast period. The segment signifies the potentiality of treating diabetes and the health conditions associated with cardiovascular diseases. In addition, bariatric surgery helps develop illnesses relevant to obesity, like type-2 diabetes, high blood pressure, and sleep apnea.

Laparoscopy Devices Market - By End Users:

• Hospitals
• Ambulatory Surgical Centers

• Clinics

The hospital segment had a significant share in the laparoscopy devices market in 2021. They are foreseen to expand rapidly in the coming years, owing to the increasing demand for minimal invasive surgeries (MIS), supporting the growth of the global laparoscopic devices market. In addition, many people frequently visit hospitals with various medical conditions, and the increasing number of laparoscopic procedures performed in the hospitals intensifies market growth.

The ambulatory surgical centers segment is projected to grow significantly during the forecast period.

Laparoscopy Devices Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

North America is expected to lead the global laparoscopic devices market in revenue share during the forecast period. The high per capita income and growing aging population are likely prone to degenerative diseases and are expected to drive the North American laparoscopic devices market growth. The United States laparoscopic devices market was the market leader in the global market in 2020. The increasing need for diagnosis and therapies, Y-O-Y growth in the incidence of chronic diseases, and rise in morbid obesity in the American population increase the demand for bariatric surgeries in the United States, directly reflecting the growth of the U.S. laparoscopic devices market. The Canadian market is expected to grow at a prominent CAGR during the forecast period. Technological advancements and the high adoption of minimally invasive techniques escalate the Canadian laparoscopic devices market growth.

The European laparoscopic devices market was the second-largest leading region in the global market in 2020 and is predicted to rise at a favorable rate during the forecast period. As per the Journal of Colorectal Cancer of Europe, nearly 1.2 million people are currently diagnosed with colorectal cancer. The latest news shows that 260,000 laparoscopic colorectal surgeries were performed in Europe. The growing prevalence of cancer, increasing research activities on laparoscopy developments, and access to cutting-edge facilities boost the market demand. The UK. laparoscopic devices market is expected to have lucrative growth opportunities due to increasing awareness regarding the benefits of laparoscopic procedures. In the U.K., most hospitals started using laparoscopy surgeries due to the increase in chronic diseases and the increasing elder population. Government approvals for these laparoscopy devices have made the market high in this region. 

The laparoscopy devices market in APAC is estimated to witness significant growth fuelled by factors like the increasing geriatric population and a rise in abdominal disorders in the region. Due to increasing gastrointestinal (G.I.) diseases in this Asia, the market has been on the rise. Nearly 40% of people are suffering from this disease which needs laparoscopy for the patients who are suffering more from this disease. The factors such as eating an unhealthy diet, lack of exercise, and increased consumption of dairy products result in the G.I. disease problem. Laparoscopy surgery uses specific devices to evaluate intra-abdominal or pelvic pathology in patients with acute or chronic abdominal pain and cancer, driving the market forward. It also is used for lymphoma staging and liver biopsy. The growth of this regional market is further driven by the factors such as rapid developments in the healthcare infrastructure and an increasing patient pool. Countries such as China and India are expected to have a healthy growth rate due to increased affordability and accumulating cases of obesity, increasing the laparoscopic devices market. The Indian laparoscopic devices market is majorly driven by medical tourism, affordable cost, and experienced professionals in the laparoscopic field.

The Latin American laparoscopy devices market is projected to have a notable growth rate in the global market during the forecast period. Rapid technological development and the growing demand for cost-effective products significantly contribute to market growth. The market player has developed different methods, instruments, and devices to improve the surgeon's working conditions during operations. Brazil holds the largest share in this region. This is because Brazil's government has approved using advanced laparoscopy devices in their region. Due to increasing gallbladder diseases in Brazil, laparoscopic cholecystectomy is the most-done procedure for treating gallbladder diseases, including different types of laparoscopic devices for surgery, driving the market growth. In Brazil, most doctors use mini-laparoscopic instruments and mini-laparoscopic procedures. These instruments are used in hernia procedures and more complex surgeries. Mini laparoscopy has been used in Brazil for 20 years, and despite the rising popularity of robotic surgery, and still increasing.

The MEA laparoscopy devices market had a substantial share worldwide in 2021.

KEY MARKET PLAYERS:

Some critical participants leading the global laparoscopy devices market 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.

RECENT MARKET HAPPENINGS:

• In 2021, Olympus Corporation announced the launch of the SIF-H190 single balloon enteroscopy in Japan, which is used to advance deep into the small intestine with a smoother passage.
• In 2021, Genesis MedTech started a partnership with LivsMed, for the distribution of the ArtiSential™ line of products for the Chinese market. The ArtiSential articulating laparoscopic instruments used for laparoscopic surgery are designed to provide the user with fully articulating, wristed motion during laparoscopic surgery.
• In 2020, VirtaMed and STAN Institute announced an agreement for conducting laparoscopic training solution that brings a new generation of technology to surgical training.
• In April 2018, B. Braun Melsungen AG opened a manufacturing facility where all the medical industry devices are available in Penang, Malaysia.
• In June 2017, Becton, Dickinson, and the company received clearance from the U.S. Food and Drug Administration (FDA)510(k) for the Snowden-Pencer TM 3.0mm laparoscopic instrument.
• In April 2017, Olympus Corporation signed an agreement to obtain Image Stream Medical, Inc. This agreement helps it to strengthen to a small extent and spread the diagnostic and product very quickly.
• In July 2017, Fortimedix made a public statement regarding the cadaver case result, explaining the possibility of doing easily symphonX.