Global Laparoscopic Devices Market By Product Type (Laparoscopes, Energy Systems, Trocars, Closure Devices, Suction/ Irrigation Device), By Application (Bariatric Surgery, Urological Surgery, Gynecological Surgery, General Surgery, Colorectal Surgery, Other Surgeries), By End-User (Hospital, Clinic, Ambulatory) By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Laparoscopic Devices Market Overview

The market for laparoscopic devices worldwide accounted for USD 7,011 million in 2021. From 2023 to 2032, it is expected that the compound annual growth rate of 7.1% will continue. The increasing prevalence of obesity in all age groups and the rapid growth in the geriatric population of the Asia Pacific region are some of the reasons for the market’s expansion. According to WHO, 42,48,389 people were affected by COVID-19 and there were 2,94,046 fatalities worldwide in May 2020. The global healthcare industry faces significant challenges from the COVID-19 outbreak. Patients suffering from other diseases have not been able to access the medical services they need. The pandemic affected Laparoscopy. Surgery can be canceled or postponed during this period due to the lower transmission of the virus.

Global Laparoscopic Devices Market Scope:

Product type analysis

The market for laparoscopic devices was dominated by the energy systems segment, which captured a 22.3% revenue share in 2021. Energy systems are able to perform laparoscopic surgery with rapid tissue and vessel sealing and transection. These systems can be used for bariatric procedures such as gastric bypass and adjustable gastric bands.

Over the forecast period, the insufflation device segment will experience the highest CAGR at 7.9%. Insufflation devices are able to provide safe and effective persufflation via humidified carbon dioxide in the abdominal cavity. Market expansion will be driven by rising rates and incidences of diseases like colorectal carcinoma. According to the World Cancer Research Fund International in 2020, colorectal carcinoma was the third most common type of cancer among men and women, with 1.90 million new cases. Most colorectal surgeries used to treat it are laparoscopic. Market growth is expected to increase due to rising colorectal cancer rates.

Application analysis

Other surgeries dominated the laparoscopic market share and accounted for 23.5% of the total revenue in 2021. Most common procedures include cholecystectomy and appendectomy laparoscopy. As a result, colon laparoscopy’s success rate is expected to continue rising. This segment will see moderate growth over the forecast period. The highest CAGR for bariatric procedures is 7.7%, which is due to rising obesity rates among adults.

According to CDC, 13.0% of adults aged 18 years and older are overweight, while 41.0 million children below the age of five suffer from obesity. American Heart Association also estimates that bariatric surgery costs will increase to USD 957.0 billion by 2030, from USD 861.0 billion in 2030. Additionally, the government’s support and awareness of the dangers of eating unhealthy food/drinks and their effects on BMI should increase bariatric surgery demand during the forecast period. The growing demand for laparoscopic surgery is expected to drive segment growth.

End-User analysis

In 2021, the largest revenue share was 63.2%. Hospitals dominated laparoscopic device markets. The rise in patients with chronic diseases and an increase in surgical procedures can explain the growth of this market. Hospitals experience a greater inflow of patients than other healthcare settings due to their ability to manage any emergencies and wide range of treatment options. According to the American Society for Metabolic and Bariatric Surg, 256,000 Americans were treated for weight loss in 2019. Accordingly, hospitals are expected to grow based on the above-mentioned factors.

Hospitals are also the main healthcare system in most countries. This means that hospitals perform more laparoscopic surgeries than other healthcare settings such as ambulatory surgical centers or clinics. Therefore, hospitals have a much higher demand for laparoscopic instruments than other end-use segments. The forecast period will see the highest CAGR of 7.1% in the ambulatory surgical center segment. The forecast period will see a substantial increase in the number of ambulatory surgeons. The lucrative expansion in the market for laparoscopic devices is due to increased adoption of minimally-invasive surgeries, high demand for outpatient procedures, and the cost-effectiveness associated with ambulatory surgery center-based laparoscopic surgeries.

According to forecasts, there will be fewer postsurgical complications after minimally invasive laparoscopic surgery. Patients are able to receive a variety of benefits at ambulatory surgery centers, such as faster recovery times and same-day access. Many intra-abdominal surgery procedures can now all be performed in ambulatory surgical centers, due to laparoscopic operations being less invasive. Ambulatory surgery procedures are faster and less costly than inpatient procedures. This reduces patient costs. As a result of these factors, the ambulatory surgeons’ segment is expected to increase rapidly in the forecast period.

Кеу Маrkеt Ѕеgmеntѕ

By Product Type

• Trocars
• Energy Systems
• Closure Devices
• Laparoscopes
• Suction/ Irrigation Device
• Other Products

By Application

• Urological Surgery
• Colorectal Surgery
• Gynecological Surgery
• Bariatric Surgery
• General Surgery
• Other Surgeries

By End-User

• Hospital
• Ambulatory
• Clinic

Market Dynamics:

The laparoscopic device market is expected to grow and rebound over the forecast period. Most countries around the globe have eased lockdown restrictions and resumed some elective procedures. It is important for key players to plan to expand regionally and open new warehouses at other locations. They also plan on distributing their operations through various channels in the worst-affected regions. Supply chain disruptions are being dealt with by companies using many strategies including rerouting logistics as well as sourcing from additional partners and air freight delivery. The pandemic has also helped local manufacturers. These factors are expected to provide lucrative opportunities for market expansion.

The many benefits of laparoscopic surgery have made it more popular than the traditional. They include shorter hospital stays, less blood loss, lower patient morbidity, lower rates of complications, faster recovery times, quick and successful outcomes, low infection risk, minimal or no incisions, less pain, and a quicker recovery. As laparoscopic surgery has become more popular, it is expected that the demand will increase over the forecast period. The growing market is driven by patients suffering from uterine fibroids and other health issues, such as endometriosis or hysterectomy. Additionally, awareness about improving healthcare infrastructure in emerging markets is increasing.

Supportive laws and policies from the countries also help to boost the growth of this market. Many countries have favorable reimbursement policies which will increase laparoscopic power morcellators sales in those areas. Because of the growing popularity of laparoscopic devices, and the availability and affordability of energy systems, their applications are growing. Laparoscopic devices which include energy systems will find lucrative uses in many applications in bariatric operations, such as gastric bypass.

This market is experiencing a rising demand for minimally invasive, laparoscopic equipment. Due to the lower trauma they cause, minimally invasive surgical methods have become more popular. Olympus for minimally invasive surgical procedures has announced, for instance, that it will add 3D capabilities to its VISERA ELITE II surgical image platform in December 2020. The product is used for a range of applications including gynecology. Additionally, some countries have insurance companies that pay for minimally-invasive laparoscopic operations. According to the Medicare benefits schedule, Medicare now covers 75% of laparoscopic surgeries (MBS). These factors have led to patients preferring minimally invasive operations.

The U.S. held the largest share of revenue in the laparoscopic market and was the most dominant country. This is due to an increasing dependence on laparoscopic procedures over open surgery and awareness about the many benefits of minimally-invasive surgeries. Also, the market will be affected by increased competition from prominent players in terms of product innovation. Ethicon Inc. introduced in September 2019 a powered, circular stapler for gastric, colorectal, or thoracic surgery.

Regional Analysis

North America held the market share for laparoscopic devices in the top ten, with 35.2% of the total revenue. Market growth is due to a greater dependence on laparoscopic surgeries than on open surgeries. The market for laparoscopic devices will be affected by competition from other prominent players. Because it is faster and more successful than traditional surgeries, laparoscopy has been recommended by surgeons. The U.S.’s increasing healthcare spending may favor both new and established players. The Centers for Medicaid, Medicare Services, and the Associated Press report that U.S. health spending rose 9.7% to US$ 4.1 trillion in 2020. This represents 19.7% of the country’s GDP.

Market growth for laparoscopic devices in Asia Pacific is expected to be 7.1% in the forecast period. This can be attributed to the rise in advanced hospitals and increased surgical procedures. South Korea, Singapore, and South Korea are just a few of the emerging economies within the Asia Pacific region. The market is expected to grow due to technological advancements, higher investment, better reimbursement scenarios, and growing Medical Tourism. The country’s other driving factors include affordable devices, increased mergers, and acquisitions, as well as government initiatives to improve healthcare services. The government has made large investments in basic health insurance.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Global manufacturers are increasing their production speeds and updating their systems with cost-effective options to meet the rising demand for laparoscopic devices. Market leaders are pushing for higher product quality by acquiring and merging with other businesses to continue the high demand. To create a simulator to aid laparoscopic training, the company partnered up with VirtaMed in Switzerland, a manufacturer of medical simulators. The mixed reality simulator is made up of real laparoscopic tools combined with a computer-generated representation. Some of the leading players in the market are:

Маrkеt Кеу Рlауеrѕ:

• Karl Storz SE & CO. Kg
• Medtronic
• Johnson and Johnson
• Olympus Corporation
• CONMED Corporation
• Braun Melsungen AG
• The Cooper Companies Inc.
• Richard Wolf GmbH
• Other Key Players

For the Laparoscopic Devices Market research study, the following years have been considered to estimate the market size: