What is the global market size of Laparoscopic Instruments Market?

Laparoscopic Instruments Market size was valued at USD 12.3 billion in 2021 and is poised to grow from USD 13.84 billion in 2022 to USD 35.50 billion by 2030, growing at a CAGR of 6% in the forecast period (2023-2030).

Laparoscopic Instruments Market Size, Share, Growth Analysis, By Product(Laparoscopes, Video laparoscopes, Fiber laparoscopes, Energy devices), By Application(Gynecology surgery, Urological surgery, Colorectal surgery, Bariatric surgery), By End use industry(Hospitals, and Ambulatory surgical centers), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35A2422 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 100 | Figures: 70

Laparoscopic Instruments Market Dynamics

Laparoscopic Instruments Market Drivers

Growing Demand for Minimally Invasive Surgeries

Laparoscopic procedures offer several advantages over traditional open surgeries, including shorter hospital stays, faster recovery, and reduced post-operative pain. The increasing demand for minimally invasive surgeries is driving the adoption of laparoscopic instruments.

Rising Prevalence of Chronic Diseases

The rising prevalence of chronic diseases, such as obesity, gastrointestinal disorders, and gynecological conditions, is leading to an increased number of laparoscopic surgeries, thereby fueling the demand for laparoscopic instruments.

Laparoscopic Instruments Market Restraints

Lack of Skilled Surgeons

Laparoscopic surgeries require specialized training and skills. The shortage of trained surgeons proficient in laparoscopic techniques may hinder the growth of the market.

Risk of Complications

While laparoscopic procedures are minimally invasive, they are not without risks. Complications such as bleeding, infection, and organ damage can occur, which may deter some patients and surgeons from opting for laparoscopic techniques.

Laparoscopic Instruments Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Laparoscopic Instruments Market size was valued at USD 13.84 billion in 2022 and is poised to grow from USD 14.67 billion in 2023 to USD 23.38 billion by 2031, growing at a CAGR of 6% in the forecast period (2024-2031).

The competitive landscape of the global laparoscopic instruments market. The global surge in demand for laparoscopic devices has prompted manufacturers to accelerate their production processes and implement cost-effective solutions to upgrade their products. To meet the increasing demand in various laparoscopic applications, leading companies are focusing on maintaining higher product quality through mergers and acquisitions. An example of this is Asensus Surgical, Inc., which signed a Memorandum of Understanding with KARL STORZ VentureONE Pte. Ltd. in February 2023. This collaboration aims to provide cutting-edge technology for minimally invasive procedures across different surgical specialties, ultimately driving market growth in the near future. 'Ethicon Inc.', 'Apollo Endosurgery', 'Boston Scientific', 'Medtronic Plc (Covidien)', 'Intuitive Surgical', 'Olympus Corporation', 'Smith & Nephew Inc.', 'Karl Storz GmbH', 'Richard Wolf GmbH', 'CONMED Corporation', 'Stryker Corporation', 'Cook Medical Inc.', 'Aesculap', 'Microline Surgical'

Laparoscopic procedures offer several advantages over traditional open surgeries, including shorter hospital stays, faster recovery, and reduced post-operative pain. The increasing demand for minimally invasive surgeries is driving the adoption of laparoscopic instruments.

Increasing Minimally Invasive Surgeries: There is a growing preference for minimally invasive surgical procedures over traditional open surgeries. Laparoscopic instruments play a crucial role in these procedures, as they enable surgeons to perform complex surgeries with smaller incisions, leading to faster recovery times, reduced post-operative pain, and shorter hospital stays.

In 2022, North America dominated the laparoscopic devices market with the highest revenue share of 34.4%. The market growth in this region is driven by the increasing preference for laparoscopic surgeries over open surgeries, leading to a surge in demand for laparoscopic devices. Additionally, stiff competition among key players, focusing on product innovation, is shaping the market landscape. Surgeons are increasingly recommending laparoscopy due to its advantages like rapid healing and positive outcomes. Moreover, the rising healthcare expenditure in the U.S. is creating opportunities for both established and new market players. As per the Centers for Medicaid and Medicare Services, U.S. healthcare spending reached USD 4.1 trillion in 2020, accounting for approximately 19.7% of the GDP.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Laparoscopic Instruments Market Dynamics

Laparoscopic Instruments Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of Laparoscopic Instruments Market?

Who are the key vendors in the Laparoscopic Instruments Market?

What is the key driver of Laparoscopic Instruments Market?

What is the key market trend for Laparoscopic Instruments Market?

Which region accounted for the largest share in Laparoscopic Instruments Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300