Laparoscopy is a minimally invasive surgical procedure that assists in the diagnosis of various abdominal and pelvic disorders, such as cysts, adhesions, fibroids, and infection that occurs in the female pelvic organs. Laparoscopy is also known as keyhole surgery, and it is performed by creating a small incision. Laparoscopes are inserted through a small incision in the abdomen, which captures pictures of the abdominal organs. This procedure also assists in performing a biopsy of tissues and surgeries, such as cholecystectomy (laparoscopic gallbladder surgery), appendectomies (removal of appendix) and anti-reflux surgery, treatment for acid reflux, also known as GERD (gastroesophageal reflux disease).
The global laparoscopy devices market was valued at $12,067.60 million in 2019 and is expected to garner $18,907.05 million by 2027, registering a CAGR of 5.8% during the forecast period 2020 - 2027. The energy devices segment accounted for more than one-fourth of the global market in 2020.
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The key factors that drive the global laparoscopy devices market include rise in the number of obese population, growth in laparoscopic-based bariatric surgeries for weight reduction, and increase in technological advancements pertaining to these devices. However, lack of expertise in the laparoscopic surgeries and high costs associated with these devices and procedures are anticipated to restrain the market growth.
The energy devices segment is anticipated to maintain its dominance during the forecast period, accounting for maximum market revenue by 2022. This is due to increase in advancements pertaining to energy devices used for laparoscopy and large-scale incorporation of these devices in laparoscopic applications. However, the laparoscope segment is anticipated to grow at a rapid rate during the forecast period.
The robot-assisted surgical system is anticipated to grow at the highest CAGR, attributed to the ability of these devices to facilitate minimally invasive surgical procedures. The global acceptance for robotic-based surgery for hysterectomies, prostatectomies, nephrectomies, removal of fibroids, and others has increased the demand for laparoscopy-based surgeries.
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Bariatric surgery application accounts for about one-fifth of the total share in 2015, driven by the growth in number of surgeries, such as gastric bypass, sleeve gastrectomy, and gastric banding. The growth in obese patients is expected to increase chances of related diseases, such as cardiovascular diseases, cancer, osteoarthritis, and diabetes, in turn increasing the demand for laparoscopic based bariatric surgery globally.
Asia-Pacific has witnessed highest growth rate for laparoscopy devices, and is expected to continue this trend, due to increase in healthcare infrastructural development and sizeable population, specifically in China and India.
Key players operating in the laparoscopy devices market have adopted product launch as their key strategy, and focus on launching innovative products to cater to the consumer requirements and strengthen their market share.
The major companies profiled Are:
Johnson & Johnson (Ethicon, Inc.)
Karl Storz GmbH & Co.KG
Boston Scientific Corporation
Medtronic PLC. (Covidien)
Richard Wolf GmbH
B. Braun Melsungen AG (Aesculap, Inc.)
Smith & Nephew PLC.
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Key Findings Of The Study
The robot-assisted surgical systems segment is projected to grow at a lucrative CAGR of 6.8% during the forecast period.
The general surgery segment was the highest contributor to the market in 2018, and is expected to grow at a CAGR of 4.9% during the forecast period.
U.S. dominated the North America laparoscopy devices market, and is projected to retain this trend throughout the forecast period.
By end user segment, the clinics segment is estimated to grow at a CAGR of 6.0%.
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