Laparoscopy devices Market Size overview Revenue Margin Forecast 2019 TO 2023
Laparoscopy devices Market are used for diagnosing various gynecological diseases, urological diseases, and chronic diseases such as cancer. The increasing preference for minimally invasive procedures is the key factor for the market to grow.
The global laparoscopy device market is expected to reach an approximate CAGR of 7.2% during the forecast period.
Others factors such as increasing prevalence of colorectal cancer, rising bariatric surgeries, and growing adoption of gynecologic laparoscopy in conditions such as endometriosis, cysts, fibroids, hysterectomy, and others also boost the market.
Some of the key players in the global laparoscopy device market are Stryker Corporation, Integra, Inc., Karl Storz GmbH & Co.KG, ConMed Corporation, WISAP Medical Technology GmbH, SCHINDLER, Mediflex Surgical Products, B. Braun Melsungen AG (Aesculap, Inc.), Richard Wolf GmbH, Olympus Corporation, Smith & Nephew PLC., Boston Scientific Corporation, Medtronic PLC. (Covidien), Johnson & Johnson Medical, Vimex Endoscopy, SCHÖLLY FIBEROPTIC GMBH, and others.
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The increase in the preference for minimally invasive procedures, technological advancements, growing adoption of laparoscopy, growing number of bariatric surgeries due to rising obesity among the population and increasing occurrence of gynecological and urological diseases are the key factors for the market to grow.
However, factors such as shortage of skilled professionals and risks associated with laparoscopy such as bleeding, infection, and damage to organs of the abdomen are expected to curb the market growth during the forecast period.
The global laparoscopy device market is segmented on the basis of product, application, and end-user. The laparoscopy device market, by product is sub-segmented into laparoscopes, energy devices, insufflators, robot-assisted surgery systems, suction or irrigation systems, closure devices, hand instruments, access devices, accessories, and others.
On the basis of application, the market is categorized into general surgery, bariatric surgery, gynecological surgery, urological surgery, colorectal surgery, and others. General surgery is further sub-segmented into cholecystectomies, hernia repairs, appendectomies, anti-reflux surgeries, and others. Bariatric surgery is further sub-segmented into gastric bypass, sleeve gastrectomy, gastric banding and others. Gynecological surgery is further categorized into ovarian cystectomy, oophorectomy, myomectomy, hysterectomy, biopsy, and others.
On the basis of end-user, the market is segmented into hospitals and clinics, ambulatory surgical centers, laparoscopic centers, and others.
Regional Analysis
The Americas dominated the global market for laparoscopy devices in 2017. This can be attributed to the rising prevalence of endometrial cancer. Removing the uterus is the main treatment for women suffering from endometrial cancer. This is done by laparoscopy, a minimally invasive approach which shortens the recovery time. The American Cancer Society predicted that in 2018, there will be 63,230 new cases of endometrial cancer diagnosed. Such high incidence of endometrial cancer influences the market growth.
Europe (UK, Belgium, France, and Netherlands) is the second largest in the market owing to the increasing prevalence of urology diseases. French and German urologists have developed expertise in laparoscopic treatments of urological disease and tumors. According to the Cancer Research UK, in 2015, there were 12547 newly diagnosed cases of kidney cancer. This influences the market growth in this region.
Asia-Pacific is expected to observe the fastest growth for the global laparoscopy device market owing to the rising number of patient population and increase in adoption of medically advanced devices. The Middle East and Africa accounts for the least share due to stringent government policies and poor economies.
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Thus, the growing prevalence of such diseases and the rise in government funding for the healthcare sector influence the growth of this market. The growing demand for rapid and precise diagnosis, rising use of laparoscopy devices for diagnostics, and technological advancements are also the key factors for the market to grow.
However, factors such as shortage of skilled professionals and risks associated with laparoscopy such as bleeding, infection, and damage to organs of the abdomen are expected to restrict the market growth during the forecast period.
Intended Audience
- Pharmaceutical companies
- Biotechnological institutes
- Government and private laboratories
- Research and Development (R&D) companies
- Medical research laboratories
- Market research and consulting service providers.
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