The size of the Laparoscopy Device Market in Latin America was worth USD 2.03 billion in 2022 and estimated to be growing at a CAGR of 7.79%, to reach USD 2.95 billion by 2027. Latin America represents a rapidly growing market worldwide.
A laparoscopy is a form of surgery. A laparoscope and other tools are inserted into small incisions in the body, such as the abdominal wall, to view structures within the internal body cavity. Various probes or other tools can also be inserted via these small skin incisions, allowing for various activities such as diagnosis and therapy.
The Latin American laparoscopy devices market is expected to be driven by an increase in the use of minimally invasive operations over traditional techniques, growth in the frequency of colorectal cancer, an increase in the number of laparoscopic bariatric procedures, and other surgical-related technical developments. In addition, the benefits of minimally invasive procedures, such as less invasiveness, faster patient recovery, and lower treatment costs, have increased the demand for laparoscopy instruments.
The Latin American laparoscopic devices market is further favored by the technological developments, an aging population, and a growing need for lower healthcare costs. Furthermore, the laparoscopic equipment business is seeing profitable expansion due to the rapidly growing population base.
Over the forecast period, the hospitals' segment has a high market value depending on end customers. They are expected to develop significantly in the future, owing to the growing need for less invasive procedures, which would help the laparoscopic devices market flourish. In addition, many people visit hospitals regularly for various medical issues, and the growing number of laparoscopic operations performed in hospitals fuels market growth.
The acceptance of high-priced products, particularly advanced energy devices, will be hampered by difficult economic conditions. The lack of public knowledge regarding laparoscopy procedures and devices and the uncertain reimbursement of laparoscopy equipment may limit market growth throughout the forecast period. In addition, the market is further hampered by the post-operative hazards connected with laparoscopic treatments. The growth of the laparoscopy devices market may be limited by a scarcity of skilled specialists for laparoscopic procedures, including post-operative risk.
This research report on the Latin America Laboratory devices market has been segmented and sub-segmented into the following categories:
By Product Type:
By Therapeutic Application:
By End Users:
The laparoscopic devices market in Latin America is expected to develop significantly during the forecast period. The expansion of the market is aided by fast technological advancements and a growing need for cost-effective goods. Laparoscopy surgery is one of the most often performed minimally invasive operations in the region. For the treatment of colon and stomach cancer and cholecystectomy, laparoscopic surgery has seen many advancements. As a result, increasing public awareness of minimally invasive treatments and the increased incidence of chronic illnesses across the country are driving up demand for endoscopic instruments.
The Mexican laparoscopy devices market is anticipated to have the greatest growth of minimally invasive operations over the projection period. The market growth is driven by extensive availability of modern technology, enhanced repayment techniques, and increased adoption of minimally invasive procedures trends for diagnosis and treatment of different ailments such as chronic diseases and others contribute to the market's growth in this area.
On the other hand, the Brazilian laparoscopy devices market is likely to hold a significant share in the Latin American market due to the increased rates of morbid obesity in the population and the growing demand for bariatric operations to help people lose weight.
KEY MARKET PLAYERS:
A few prominent companies leading in the Latin America 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.
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