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

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.