Pune, India, Dec. 09, 2022 (GLOBE NEWSWIRE) -- The global laparoscopy instruments market size was valued at USD 12.88 billion in 2021. The market is projected to grow from USD 14.13 billion in 2022 to USD 25.26 billion by 2029, exhibiting a CAGR of 8.7% during the forecast period.
This information is provided by Fortune Business Insights, in its report titled, “Laparoscopy Instruments Market, 2022-2029.”
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Key Industry Development:
January 2022: To improve the distribution of its products throughout the U.S., Microline Surgical established a new sales team in the Southeast region.
Report Scope
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 8.7% |
| 2029 Value Projection | USD 25.26 Billion |
| Base Year | 2021 |
| Market Size in 2022 | USD 14.13 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 150 |
| Key Players | Microline Surgical (U.S.), KARL STORZ SE & Co. KG (Germany), BD (U.S.),Medtronic (Ireland) |
| Laparoscopy Instruments Market Growth Drivers | Demand for Instruments Will Rise as Laparoscopic Procedures Backed by Surged Usage |
| Increasing Number of General Surgeries to Contribute to Segmental Growth | |
| Key Players' Important Business-related Announcements will Affect Market Dynamics |
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Drivers and Restraints:
Demand for Instruments Will Rise as Laparoscopic Procedures Backed by Surged Usage
A range of medical disorders are treated by laparoscopy, both for diagnosis and treatment. A laparoscope and other surgical tools are inserted by the doctors during these procedures through one or more small incisions made in the patient's abdomen. The use of minimally invasive procedures has grown dramatically during the past 10 years. The increased usage of laparoscopic surgery is a result of its many added advantages. These factors are expected to boost the laparoscopy instruments market growth.
COVID-19 Impacts:
COVID-19 Pandemic Cancelled Elective Surgeries and Negatively Impacted Market
The global landscape of medical procedures has been drastically altered by the COVID-19 pandemic. Due to a number of problems, including procedural prioritization, workforce and staffing challenges, intraoperative viral transmission risk, and modifications to perioperative practice, the COVID-19 greatly impeded surgical procedures. During the pandemic, many businesses with a line of laparoscopic tools saw a decline in the demand for their goods.
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Laparoscopy Instruments Market Segments:
Energy Devices Segment to Dominate Market owing to Increasing Adoption of these Devices
On the basis of type, the market is categorized into energy devices, smoke evacuation systems, closure devices, insufflation devices, suction/irrigation devices, handheld instruments, trocars, and accessories. The energy devices segment is further divided into generators, vessel sealers, and others.
Disposable Segment to Hold Major Market Share due to Advantages of these Devices
Based on usage, the market is classified into reusable and disposable. The disposable segment held a considerable laparoscopy instruments market share in 2021. There is a lot of discussion among healthcare professionals regarding the decision to use disposable versus reusable laparoscopic surgical instruments.
Increasing Number of General Surgeries to Contribute to Segmental Growth
Based on application, the market is segmented into general surgery, urology, gynecology, and others. The general surgery segment accounted for the highest market share in 2021 and is expected to expand at a substantial CAGR during the forecast timeframe.
Large Patient Volumes in Hospitals & ASCs to Drive Segmental Expansion
In terms of end-user, the market is bifurcated into hospitals & and ASCs and specialty clinics and others. The hospitals & ASCs segment dominated the global market in 2021.
Geographically, the market is segregated into North America, Europe, Asia Pacific, and the rest of the world.
| Segmentation | By Type
|
By Usage
| |
By Application
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Report Coverage:
The report presents a holistic study of the market for laparoscopy instruments along with current trends and future anticipations to establish proximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions or driving factors is also mentioned in the report.
Regional Insights:
North America to Dominate Supported by Increasing Prevalence of Medical Conditions
The North American market was worth USD 6.60 billion in 2021. In 2021, this region led the world market, and it is predicted that this dominance will last the entire prediction period.
During the projected period, 2022-2029, the market in Asia Pacific is anticipated to grow at the highest CAGR. The highest CAGR is attributable to the rising incidence of disorders, such acute appendicitis, gallstones, and colectomy, all of which necessitate surgical operations.
Competitive Landscape:
Key Players' Important Business-related Announcements will Affect Market Dynamics
Key laparoscopy instruments players frequently announce significant business decisions, which have a favorable or negative impact on the market. Players buy businesses, introduce products, enter into collaboration agreements, agree to terms with governmental bodies, and so forth.
List of Key Players Mentioned in the Report:
- Microline Surgical (U.S.)
- KARL STORZ SE & Co. KG (Germany)
- BD (U.S.)
- Medtronic (Ireland)
- CONMED (U.S.)
- Olympus Corporation (Japan)
- Erbe Elektromedizin GmbH (Germany)
- Stryker (U.S.)
- ETHICON (Johnson & Johnson Services, Inc.) (U.S.)
- LIVSMED, INC. (South Korea)
Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Healthcare Indicators
- Healthcare Expenditure related Indicators
- Healthcare Infrastructure related Indicators
- Healthcare Resources related Indicators
- Healthcare Burden related Indicators
Please note that the following healthcare indicators will be provided for 2021 or latest year available for the following countries – U.S., Canada, U.K., Germany, France, Italy, Spain, Japan, China, India, Australia and Brazil
- Key Insights
- Number of Laparoscopic Surgeries Performed, By Key Countries
- New Product Launches, By Key Players
- Key Industry Developments – Mergers, Acquisitions, and Partnerships
- Impact of Covid-19 on the Market
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