Laparoscopy Device Market by Product Type, by Therapeutic Application (Colorectal Surgery, Gynaecological Surgery, General Surgery, Bariatric Surgery and Urological Surgery), by End Users (Hospitals, Clinics and Ambulatory Surgical Centers) and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)
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The Global Laparoscopy Device Market was worth $7.78 billion in 2016 and estimated to be growing at a CAGR of 7.45%, to reach $11.14 billion by 2021. Laparoscopy was originally used in the field of gynaecology as a diagnostic tool and now it has evolved as a standard procedure for several surgeries.
These procedures are becoming affordable for large base of patients due to continuous decline in the cost of laparoscopy and thus increasing demand for laparoscopic devices.
Laparoscopy technique has various advantages over existing techniques such as cost efficiencies in treatment, quick recovery, and limited post-operative trauma and less scars.
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The laparoscopic device used in the surgery consists of a tube which is inserted through the abdominal wall and enables the surgeon to view the internal organs.
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Major factors driving the laparoscopy devices market are increasing health awareness regarding obesity, rising aged population, growing adoption of single-port laparoscopy and rising interest in scarless surgeries. The growth of the market is benefited from continuous improvements in technology and alongside reduction in the prices of high-end laparoscopic instruments.
The market has observed a shift from direct energy based devices to multifunctional instruments. Lack of skilled surgeons and high cost of laparoscopic devices are hindering the growth of the market.
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The global laparoscopic market is segmented on the basis of product into internal closure devices, hand access instruments, robotic assisted surgical system, laparoscopes, direct energy systems and insufflation devices. Based on therapeutic application the market is divided into colorectal surgery, gynaecological surgery, general surgery, bariatric surgery and urological surgery.
On the basis of end-users the market is bifurcated into hospitals, clinics and ambulatory surgical centers. Direct energy system devices segment has accounted for maximum share in 2016 and is projected to register a healthy CAGR in the forecast period.
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Based on geography the market is analysed under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. North America is expected to lead the global laparoscopic devices market in terms of revenue share during the forecast period.
Asia-Pacific is estimated to witness significant growth fuelled by the factors like increasing geriatrics population and rise in abdominal disorders in the region.
Some of the major players in the laparoscopy market are Boston Scientific Corporation, Karl Storz, ConMed, Aesculap, Covidien, Olympus, Intuitive Surgical, Stryker, Medtronic, B. Braun Melsungen AG, Ethicon US LLC and Smith & Nephew.
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