USD 7.27 Billion
Laparoscopic Devices Market Size, Share, Growth Analysis, By Product Type(Laparoscopes, Energy Systems, Trocars, Closure Devices), By Application(Bariatric Surgery, Urological Surgery, Gynecological Surgery, General Surgery), By End-use(Hospital, Clinic, and Ambulatory), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2619 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|Tables:
98
|Figures:
76
Laparoscopic Devices Market Insights
Global Laparoscopic Devices Market size was valued at USD 7.27 Billion in 2022 and is poised to grow from USD 7.80 Billion in 2023 to USD 13.76 Billion by 2031, at a CAGR of 7.35% during the forecast period (2024-2031).
The market's expansion is ascribed to the rising prevalence of diabetes across all age groups, the Asia Pacific region's quickly expanding elderly population, particularly in nations like Japan, India, & China, and swift technology advancements. The worldwide healthcare sector is facing a substantial problem as a result of the COVID-19 epidemic. Patients suffering from different diseases have received subpar care as a result of limited access to medical services. The pandemic has had a negative impact on laparoscopy. Surgery is frequently delayed or even canceled during this time due to the reduced virus transmission.
The major firms want to grow their regional operations, build additional warehouses elsewhere, and operate through a variety of channels in the most affected regions. To deal with supply chain interruptions, businesses are employing a range of strategies, such as rerouting transportation, sourcing from additional partners, and using air freight delivery. The pandemic has also benefited nearby manufacturers. These elements are anticipated to produce profitable chances for market expansion.
Laparoscopic surgery has recently become more popular than traditional ones due to its many advantages, including a shorter hospital stay, less blood loss, and lower patient morbidity. It also offers quick recovery, quick and successful outcomes, a low risk of infection, a small or no incision, and less pain. The demand for laparoscopic equipment is projected to increase during the forecast period due to the sharp rise in demand for laparoscopic surgery. The market is expanding as a result of factors including an increase in patients with conditions like uterine fibroids and endometriosis, an increase in hysterectomy as well as myomectomy procedures, as well as rising public awareness of the developing healthcare infrastructure in developing nations.
The government's supportive legislation and regulations are another factor promoting the growth of the market for laparoscopic devices. In addition, there are favorable payment rules in place in a variety of nations that are projected to boost laparoscopic power morcellator revenues in those countries. A considerable growth in the elderly worldwide and the development of electrical systems, which has raised their availability and cost, have led to an increase in applications for laparoscopic equipment. The biliopancreatic diversion & duodenal switch, variable gastric the band, gastric bypass, or sleeve gastrectomy are among the bariatric operations for which laparoscopic devices that integrate energy systems are expected to find lucrative applications.
The majority of income came from the laparoscopic device market, which was dominated by the United States. This can be ascribed to a growing preference for laparoscopic procedures over open ones and a growing understanding of the advantages of less invasive procedures. The market will also be impacted by the competition among major competitors over product innovation. For instance, Olympus Corporation recently unveiled the THUNDERBEAT Open Fine Jaw Type X surgical power tools for open surgery in September 2022. The device promotes enhanced safety during procedures & is commercially available in Japan with an extra thermal protection.
A variety of diversity and strategic sourcing initiatives are also being worked on by the companies. For example, in 2021, B. Braun Medical and Kerma Medical Goods declared their intention to work together to promote the creation and provision of healthcare goods and services, with a focus on serving veterans, people of color, and other underrepresented populations. In order to accelerate market growth, both businesses are anticipated to work on a number of initiatives, such as collaborative marketing opportunities, product development, environmentally friendly production, strategic sourcing, and diversity initiatives.
US Laparoscopic Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hospital
Fastest Growth
Hospital
Growth Rate
7.35% CAGR
Global Laparoscopic Devices Market ($ Bn)
Country Share for North America Region (%)
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Laparoscopic Devices Market Segmental Analysis
The global laparoscopic devices market is categorized on the basis of product, application, end-use, and region. With respect to categorization by product, the market is segmented into laparoscopes, energy systems, trocars, closure devices, suction/ irrigation device, insufflation device, robot assisted systems, and hand access instruments. Based on application, the market is segmented into bariatric surgery, urological surgery, gynecological surgery, general surgery, colorectal surgery, and other surgeries. Based on end-user, the market is segmented into Hospital, Clinic, Ambulatory. Based on region, the global Laparoscopic Devices Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Laparoscopic Devices Market Analysis by Product
The market for laparoscopic devices was dominated by the energy systems sector in 2022, when it held the biggest revenue share of about 21.1 Energy systems facilitate quick subsequent tissue and vascular closure, transection, and coagulation during laparoscopic surgery. In bariatric procedures including gastric bypass, gastrectomy with a sleeve adjustable gastric band, & biliopancreatic redirection with duodenal switch, these systems are widely used. The IFSO Global Registry Report states that 833,687 bariatric procedures were carried out in 61 nations worldwide. As a result, during the projected period, the aforementioned factors are anticipated to fuel market expansion.
The insufflation device segment is predicted to grow at a CAGR of 7.9% over the forecast period. Utilizing insufflation equipment, it is simple and safe to persulfate the stomach cavity with humidified carbon dioxide. The increasing incidence and prevalence of diseases like colorectal cancer are the ones most likely to propel market expansion. For instance, based on the World Cancer Research Fund Worldwide, colorectal cancer had about 1.90 million newly diagnosed cases in 2021, placing it third among all malignancies in both men and women. The main method for caring for colorectal cancer is laparoscopic surgery. The market is therefore expected to grow more quickly as the incidence of colorectal cancer rises.
Laparoscopic Devices Market Analysis by End-user
The hospital sector dominated the laparoscopic device market in 2022, contributing 61.6% of total revenue. The rise in patients with various chronic conditions and the resulting rise in operations are the key causes of this market segment's expansion. Due to the ease of managing emergencies that may arise over surgical procedures and the accessibility of a wide range of treatment options at such facilities, hospitals experience a significantly greater inflow of patients for weight loss surgeries or other laparoscopic procedures than other healthcare settings.
Additionally, since hospitals are the main provider of healthcare in the majority of nations, more laparoscopic procedures are performed there than in alternative healthcare facilities like clinics or ambulatory surgery centers. Hospitals have a comparatively high demand for laparoscopic equipment compared to other end-use markets. During the projection period, the category for ambulatory surgical centers is anticipated to experience the highest CAGR of 7.1%. Over the course of the projected period, the market for ambulatory surgery centers is anticipated to expand significantly. A rise in the use of minimally invasive surgery, a high demand for outpatient surgery, and the affordability of ambulatory surgery center-based laparoscopic procedures are all contributing factors to the lucrative expansion of the laparoscopic equipment market.
Global Laparoscopic Devices Market By End User
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Laparoscopic Devices Market Regional Insights
North America held the largest revenue share of 34.4% in the global market for laparoscopic devices. One of the main factors propelling the market is the growing reliance on laparoscopic operations in comparison to open surgeries. Additionally, because it encourages a speedy recovery and effective outcomes, laparoscopy is now favored over conventional treatments by surgeons. Additionally, laparoscopy is now preferred over traditional procedures by surgeons since it promotes quick recovery and successful results. Additionally, rising healthcare costs in the US may encourage both new and established competitors to enter the market. For example, according to the Centers for Medicare and Medicaid Services, U.S. health care spending rose by 9.7% to USD 4.1 trillion, or almost 19.7% of GDP.
A rise in the number of modern, well-equipped hospitals and a high volume of surgical procedures are driving the market growth in the Asia Pacific region over the forecast period, which is expected to result in a CAGR of 7.8% for the laparoscopic devices market there. Some of the developing nations in the Asia Pacific region include South Korea and Singapore. The market in the region is going to be driven by developing technology, rising investment, bettering reimbursement circumstances, and expanding medical tourism. The availability of inexpensive technology, a boom in acquisitions and mergers, and a government programmed to enhance healthcare services are other growth drivers for the nation. For all residents to have access to affordable health insurance, the government has made substantial investments.
Global Laparoscopic Devices Market By Geography
- Largest
- Fastest
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Laparoscopic Devices Market Dynamics
Laparoscopic Devices Market Drivers
Growing Burden of Chronic Diseases
- The prevalence of chronic diseases, such as obesity, gastrointestinal disorders, and gynecological conditions, is increasing globally. Laparoscopic procedures are often preferred for the treatment of these conditions due to their minimally invasive nature. The rising burden of chronic diseases contributes to the growth of the laparoscopic devices market.
Laparoscopic Devices Market Restraints
High Cost of Laparoscopic Devices
- Laparoscopic devices can be expensive, including instruments, trocars, energy devices, and imaging systems. The initial capital investment and ongoing maintenance costs can be a barrier, particularly for healthcare facilities with limited budgets or in developing regions. The high cost of laparoscopic devices can restrict their adoption.
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Laparoscopic Devices Market Competitive Landscape
Global manufacturers are accelerating their production methods while also updating them by utilizing cost-effective alternatives in response to the spike in demand for laparoscopic gadgets. Leading companies in the market are enforcing improved product quality with mergers and acquisitions in order to maintain the spike in demand from numerous laparoscopic devices applications. Ascensus Surgical, Inc., for instance, stated in February 2023 that it had signed a Memorandum of Agreement with KARL STORZ Venture ONE Pte. Ltd., especially in the area of endoscopes, devices, and medical tools such laparoscopic vision systems. Through this action, which is expected to accelerate market growth in the near future, the company's primary goal is to supply cutting-edge technology for procedures that are minimally invasive in almost all surgical specialties.
Laparoscopic Devices Market Top Player’s Company Profiles
- Johnson & Johnson
- Olympus Corporation
- Ethicon, Inc. (A subsidiary of Johnson & Johnson)
- B. Braun Melsungen AG
- Boston Scientific Corporation
- Cook Medical LLC
- Richard Wolf GmbH
- CONMED Corporation
- Smith & Nephew plc
- Applied Medical Resources Corporation
- Intuitive Surgical, Inc.
- Teleflex Incorporated
- Microline Surgical Inc.
- Grena Ltd.
- Lina Medical ApS
- EndoChoice (A part of Boston Scientific Corporation)
- Maxer Endoscopy AG
Laparoscopic Devices Market Recent Developments
- In September 2021, Olympus Corporation created the POWERSEAL line of innovative bipolar surgical energy tools, enabling surgeons cutting-edge sealing, dissection, and grasping capabilities in laparoscopy and open surgery while noticeably reducing the force required to close the jaws.
- In April 2021, Genesis MedTech and LivsMed, a medical device firm that applies cutting-edge technology to minimally invasive surgery, have formed a strategic distribution agreement for the sale and distribution of the ArtiSential line of products in the Chinese and Singaporean markets.
Laparoscopic Devices Key Market Trends
- Advancements in Robotic-Assisted Laparoscopic Surgery: Robotic-assisted laparoscopic surgery is gaining popularity due to its enhanced precision, improved visualization, and dexterity. Key market players are investing in developing robotic systems specifically designed for laparoscopic procedures. These systems offer surgeons greater control and maneuverability, leading to increased adoption of robotic-assisted laparoscopic surgery.
- Miniaturization of Laparoscopic Devices: There is a growing trend towards the miniaturization of laparoscopic devices, including instruments, trocars, and cameras. Miniaturized devices enable smaller incisions, reduce patient trauma, and improve patient outcomes. Advancements in materials and manufacturing techniques are facilitating the development of more compact and lightweight laparoscopic devices.
- Increasing Application of Laparoscopy in Bariatric Surgery: Laparoscopic techniques are widely used in bariatric surgery for weight loss. The rising prevalence of obesity and the demand for minimally invasive procedures have led to increased adoption of laparoscopic devices in bariatric surgery. The market is witnessing the development of specialized laparoscopic instruments and devices tailored for bariatric procedures.
- Growing Demand for Single-Incision Laparoscopic Surgery: Single-incision laparoscopic surgery (SILS) involves performing an entire procedure through a single small incision, resulting in reduced scarring and improved cosmetic outcomes. SILS has gained popularity across various surgical specialties, including urology, gynecology, and general surgery. Key market players are focusing on developing specialized instruments and trocars for SILS to meet the increasing demand.
Laparoscopic Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global laparoscopic devices market analysis, this surgery has recently become more popular than traditional ones due to its many advantages, including a shorter hospital stay, less blood loss, and lower patient morbidity. It also offers quick recovery, quick and successful outcomes, a low risk of infection, a small or no incision, and less pain. The demand for laparoscopic equipment is projected to increase during the forecast period due to the sharp rise in demand for laparoscopic surgery. The market is expanding as a result of factors including an increase in patients with conditions like uterine fibroids and endometriosis, an increase in hysterectomy as well as myomectomy procedures, as well as rising public awareness of the developing healthcare infrastructure in developing nations.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 7.27 Billion |
| Market size value in 2031 | USD 13.76 Billion |
| Growth Rate | 7.35% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Laparoscopic Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Laparoscopic Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Laparoscopic Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Laparoscopic Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Laparoscopic Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Laparoscopic Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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