PUBLISHER: The Business Research Company | PRODUCT CODE: 1414346
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414346
“Laparoscopy Devices Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on laparoscopy devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for laparoscopy devices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The laparoscopy devices market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Laparoscopy devices are comprised of rigid endoscopes equipped with telescopic rod lens systems, typically connected to single-chip or three-chip video cameras. These devices enable surgeons to access the abdominal and pelvic regions without the need for significant skin incisions.
The primary types of laparoscopy devices include laparoscopes, energy devices, insufflators, robot-assisted surgery systems, suction or irrigation systems, closure devices, hand instruments, access devices, accessories, and others. Laparoscopes, for instance, are small, tube-shaped medical devices featuring a light, a lens, and an instrument for tissue removal. They find applications in various surgical procedures, including general surgery, bariatric surgery, and gynecological surgery, and are utilized by diverse end users such as hospitals, clinics, and others.
The laparoscopy devices market research report is one of a series of new reports from The Business Research Company that provides laparoscopy devices market statistics, including laparoscopy devices industry global market size, regional shares, competitors with a laparoscopy devices market share, detailed laparoscopy devices market segments, market trends and opportunities, and any further data you may need to thrive in the laparoscopy devices industry. This laparoscopy devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The laparoscopy devices market size has grown strongly in recent years. It will grow from $12.17 billion in 2023 to $13.1 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The expansion observed in the historical period can be attributed to factors such as improved surgeon training programs, advancements in safety and efficacy, a shift towards minimally invasive surgery, developments in energy-based devices, and the challenges associated with early adoption.
The laparoscopy devices market size is expected to see strong growth in the next few years. It will grow to $17.13 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The anticipated growth in the forecast period can be attributed to a focus on customization and a patient-centric approach, increased market penetration in emerging economies, training and skill enhancement programs, the integration of robotic-assisted systems, and growth in energy-based devices. Key trends expected in the forecast period include the miniaturization of devices, a rise in minimally invasive surgeries, increased adoption in emerging economies, a heightened focus on training and education, and further integration of robotics in laparoscopy procedures.
The laparoscopy devices market is anticipated to experience significant growth due to the escalating prevalence of chronic diseases. Chronic diseases, characterized by lasting a year or longer and requiring ongoing medical care, have become increasingly prevalent, hindering daily activities. Examples include heart disease, cancer, obesity, and diabetes. Laparoscopy proves beneficial for patients with undiagnosed persistent abdominal pain, providing a solid diagnosis and therapeutic intervention. Moreover, these devices facilitate minimal-access surgery procedures. In January 2023, the National Library of Medicine reported a projected 99.5% increase by 2050 in individuals aged 50 and older with at least one chronic illness, reaching 142.66 million from 71.52 million in 2020. Consequently, the laparoscopy devices market is driven by the rising incidence of chronic diseases.
The laparoscopy devices market is also set to grow owing to the increasing prevalence of obesity. Obesity, a condition marked by excessive body fat accumulation and defined by a body mass index (BMI) of 30 or higher, poses significant health risks. Laparoscopy devices are commonly employed in minimally invasive surgical procedures for obese individuals, resulting in reduced postoperative complications and faster recovery. As of March 2022, the World Health Organization reported that over 1 billion people globally, including 650 million adults, 340 million adolescents, and 39 million children, were affected by obesity. This number continues to rise, with an estimated 167 million people experiencing deteriorating health due to being overweight or obese by 2025. Hence, the laparoscopy devices market is propelled by the increasing prevalence of obesity.
A key trend contributing to the laparoscopy devices market's growth is the introduction of innovative laparoscopic devices. Major companies in this market are focused on unveiling advanced devices to maintain their market position. For example, in June 2021, Ethicon introduced the Enseal X1 curved jaw tissue sealer, offering robust sealing, improved tissue access, and enhanced procedural efficiency. This versatile laparoscopic tool is suitable for thoracic, gynecological, bariatric, and colorectal surgeries, featuring independent seal and cutting capabilities and a 360-degree continuous shaft rotation for optimal tissue reach. Ethicon's adaptive tissue technology allows the device to sense changes in tissue state and respond with the right energy amount, minimizing lateral thermal spread.
Prominent companies in the laparoscopy devices market are concentrating on developing cutting-edge medical devices, such as curved jaw tissue sealers and dividers, to enhance procedural efficiency and maximize market profitability. Olympus, a Japanese medical technology company, launched the 5mm Curved Jaw Tissue Sealer and Divider in September 2021, a double-action device in the POWERSEAL family. These devices meet high clinical performance standards, providing consistent sealing reliability and ergonomic design for procedural efficiency in laparoscopic or open surgery.
In November 2021, Hologic, a US-based medical technology company, acquired Bolder Surgical for $160 Million, expanding its surgical portfolio to include laparoscopic vessel sealing, dividing, and dissecting devices. This acquisition also enables Hologic to extend Bolder's devices to OB/GYN specialists, reinforcing its position in the laparoscopy devices market.
Major companies operating in the laparoscopy devices market report are B. Braun Melsungen AG, Boston Scientific Corporation, CONMED Corporation, Ethicon Inc., Karl Storz SE & Co. KG, Medtronic PLC, Olympus Corporation, Richard Wolf GmbH, Smith & Nephew PLC, Stryker Corporation, Intuitive Surgical Inc., The Cooper Companies Inc., Microline Surgical Inc., Becton Dickinson and Company, Welfare Medical Ltd., Applied Medical Resources Corporation, Cooper Surgical Inc., Fujifilm Holdings Corporation, Grena Ltd., Henke-Sass Wolf GmbH, LaproSurge Ltd., Maxer Endoscopy GmbH, MedGyn Products Inc., EndoOptiks Inc., EndoChoice Inc., Endo-Technik W. Griesat GmbH, Endo-Flex GmbH, Endo-Therapeutics Inc., Smiths Group plc, LiNA Medical ApS
North America was the largest region in the laparoscopy devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global laparoscopy devices market report during the forecast period. The regions covered in the laparoscopy devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the laparoscopy devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The laparoscopy devices market consists of sales of laparoscopic scissors, graspers, needle handles, dissectors, and retractors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.