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

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 growth of the global laparoscopic surgery market is attributed to several factors, including the increasing incidence of obesity across all age groups, the rapidly growing geriatric population in the Asia Pacific region, and quick technological improvements. However, the COVID-19 pandemic has posed challenges to the global healthcare industry, impacting laparoscopy as well. Surgeries have been postponed or canceled to reduce virus transmission, leading to inadequate care for patients with other diseases. Nevertheless, key players are adapting to the situation by expanding regionally, establishing new warehouses, and diversifying their supply chain strategies. Despite these challenges, the preference for laparoscopic surgery over conventional methods, due to its numerous benefits, is expected to drive market growth. Factors like the rising prevalence of health issues such as uterine fibroids and endometriosis, along with increasing hysterectomy and myomectomy procedures, and improving healthcare infrastructure in emerging economies, are fueling the demand for laparoscopic devices. Additionally, the growth of the laparoscopic devices market is being boosted by supportive government policies and laws in various countries. Some regions also offer favorable reimbursement policies, driving the sales of laparoscopic power morcellators. The expanding applications of laparoscopic devices are driven by the increasing elderly population globally and the improved availability and affordability of energy systems. In particular, laparoscopic devices with energy systems are finding lucrative uses in various bariatric surgeries, including gastric bypass, sleeve gastrectomy, adjustable gastric band, and biliopancreatic diversion with duodenal switch.

Moreover, the rising preference for minimally invasive laparoscopic equipment is a key driver propelling the market forward. Minimally invasive surgical methods are gaining popularity due to reduced trauma and quicker recovery times. Major players in the industry, such as Olympus, are continuously innovating and introducing advanced technologies, such as 3D and infrared capabilities, to enhance surgical imaging platforms. This allows hospitals and surgical centers to improve efficiency and reduce costs. Health insurance companies in some countries are now covering a significant portion of laparoscopic procedures, further encouraging patients to opt for minimally invasive surgeries.

US Laparoscopic Instruments Market is poised to grow at a sustainable CAGR for the next forecast year.