iCrowd Newswire – Jul 22, 2020
The Global Laparoscopy Devices Market is estimated to grow at a CAGR of 5.8% during the forecast period 2020-2027. As per the detailed market study, the global laparoscopy devices industry was valued around $12.06 billion in the year 2019 and is anticipated to reach $18.90 billion by the end of the year 2027.
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Laparoscopy is a minimally invasive procedure that is used to examine organs inside the pelvic cavities or abdomen by inserting a laparoscope in the abdomen. It is a long, thin tube with high-resolution camera and high-intensity light attached in the front which is connected with a monitor to show images inside the body parts. The laparoscopy process is used for the treatment and diagnosis of fibroids, cysts, pelvic inflammatory disease (PID), ectopic pregnancy and endometriosis.
The global laparoscopy devices industry is driven by various growth factors such as increase in number of cases related to morbid obesity worldwide, growth in bariatric surgeries performed to reduce weight. According to the American Society for Metabolic & Bariatric Surgery (ASMBS), in the year 2018, the America alone recorded ~252,000 bariatric surgeries. Whereas, high cost of laparoscopy devices and lack of skilled professionals act as growth restraining factors for the global laparoscopy devices market. On the contrary, product advancement of laparoscopic devices and increase in adoption of robot-assisted laparoscopic surgeries are some lucrative opportunities offered by the market players operating in the global laparoscopic device marketplace.
Segmentation Overview of the Global Laparoscopy Devices Market
The global laparoscopy devices market is categorized on the basis of various segments that include product type, application and end-user. These market segments are further categorized into various segments to study the market in detail.
The Product Type Segment of the Global Laparoscopy Devices Market is Sub-Segmented into:
- Access Devices
- Hand Instruments
- Closure Devices
- Suction or Irrigation Systems
- Robot-Assisted Surgery Systems
- Energy Devices
The Application Segment of the Global Laparoscopy Devices Market is Sub-Segmented into:
- Colorectal Surgery
- Urological Surgery
- Gynaecological Surgery
- General Surgery
- Anti-Reflux Surgeries
- Hernia Repairs
- Bariatric Surgery
- Gastric Banding
- Sleeve Gastrectomy
- Gastric Bypass
The End-User Segment of the Global Laparoscopy Devices Market is Sub-Segmented into:
Key Players Insights of the Global Laparoscopy Devices Market
Stryker Corporation, Smith & Nephew plc, Richard Wolf GmbH, Olympus Corporation, Medtronic plc (Covidien), Karl Storz SE & CO. KG, Johnson & Johnson, ConMed Corporation, Boston Scientific Corporation and B. Braun Melsungen AG are some major key players included in the research study of the global laparoscopy devices market.
Geographical Overview of the Global Laparoscopy Devices Market
As per the regional studies, the North America laparoscopy devices market dominated the global marketplace in the year 2019 and is estimated to maintain the dominance over the forecast period. The regional market growth is attributed to various factors such as significant growth in number of bariatric surgeries due to high number of obese populations and technologically advanced laparoscopy surgeries. On the other hand, the Asia-Pacific laparoscopy devices market is a lucrative marketplace with major growth potentials for the market players. The regional market growth is attributed to rapidly developing economic conditions, increasing per capita income and improvement in healthcare facilities in the region.
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Keywords: Laparoscopy Devices Market