Pune, India, Dec. 20, 2021 (GLOBE NEWSWIRE) -- The global laparoscopy devices market size is expected to witness an elevated growth owing to rising prevalence of colorectal cancer and increasing preference for minimally-invasive surgeries. This information is provided by Fortune Business Insights™, in its report, titled, “Laparoscopy Devices Market, 2021-2028.” Additionally, increasing number of product launches and rising cases of morbidity on a global level will increase the demand for laparoscopy devices. Rising adoption of robot-assisted laparoscopic surgeries will further fuel the growth of the market.
Industry Development
- February 2018: ENDOCONTROL recently announced the launch of their latest generation of robotic devices – JAIMY Advance. These devices offer a true intuitive control and further improve surgical ergonomics.
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Report Coverage
The study aims to analyze the laparoscopy devices by considering contributions, prospects, market drivers & restraints, opportunities & trends, and growth trends. It presents comprehensive profiles on the dominant market players by dispensing current and past sales figures, products, joint ventures, collaborations and upcoming mergers & acquisitions. This helps our readers to paint a complete picture by putting forth projections and estimations by presenting an excellent strategic framework. We also perform primary and secondary research towards tracking the latest innovations, regulatory developments, and competitive landscape.
COVID-19 Impact
Disruptions in Supply Chain to Impact Material Procurement for Laparoscopy Instruments
The outbreak of COVID-19 has taken its toll on the healthcare sector by delaying production. As China became the epicenter of the pandemic, a large part of global import and export trade took a sharp turn. Also, increased restrictions on movement and imposed lockdowns will diminish global trade routes to some extent. However, as the COVID-19 variant mutates and looms on, existing comorbidities and disorders are expected to accelerate. For example, according to the World Health Organization, increasing prevalence of disorders will result in rising deaths across the global scale. In 2018, the estimated deaths due to ongoing cancer related disorders were 9.6 million.
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Drivers & Restraints
Increasing Technical Advancements and Rising Laparoscopic Bariatric Surgeries to Bolster Market Share
Factors such as increasing healthcare markets in emerging economies and rising capabilities in devices and instruments will increase the footprint of the laparoscopy devices market share during the forecast period. Also, less invasive measures and lowered costs in terms of pre- and post-operative care will fuel the growth of the market. Added attributes include less blood loss, few postoperative complications, and shorter recovery times. Rising number of laparoscopic bariatric surgeries and rising adoption of robot-assisted laparoscopic surgeries will foster a higher sales volume for the market.
However, reduced insurance payouts for providers will decrease the market value for the forecast period. Also, a general lack of trained professionals will hamper the growth of the market.
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Segments
On the basis of product, the market can be differentiated into laparoscopes, energy devices, insufflators, and others.
By application, the market can be broken down into general surgery, gynecological survey, urological surgery, pediatric surgery, and others.
With regards to end user, the market can be divided into hospitals, ambulatory surgery centers, and others.
In terms of region, the market can be categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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Regional Insights
Well-Developed Healthcare Infrastructure to Help North America Dominate
North America will be at the forefront of the forecast period owing to the rising number of pregnancies and increasing number of bariatric surgeries. Also, increasing geriatric and chronically ill population and rising number of minimally invasive surgeries will propel the laparoscopy devices market growth. Advancements in various surgical devices and rising number of key market players in the region will propel the market value during the forecast duration.
Europe will occupy a substantial market share owing to a shifting trend of users towards minimally-invasive surgeries and a highly aware population.
Asia Pacific will witness the fastest growing market share owing to rising technological advancements in laparoscopic devices and expanding healthcare infrastructure.
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List of Key Players Present in the Market
- Karl Storz GmbH & Co KG (Germany)
- OLYMPUS CORPORATION (Japan)
- Medtronic (Ireland)
- B. Braun Melsungen AG (Germany)
- Stryker (U.S.)
- BD (U.S.)
- Smith & Nephew (U.K.)
- Cook (U.K.)
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