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Laparoscopic Instruments Market 2021 Growth, Industry Share-Size Estimate, Consumption Analysis by Applications, Future Demand, Top Leading Players, Emerging Trends and Forecast to 2027

Report Ocean presents a new report on laparoscopic instrument market size, share, growth, industry trends, and forecast 2027, covering various industry elements and growth trends helpful for predicting the market’s future.

The laparoscopic instrument market was worth USD 10.8 billion in the year 2020 and is further projected to reach USD 22.6 billion by 2027, at the CAGR of 11.7% during 2021-2027 (forecast period).

Factors such as a progressive transition toward minimally invasive procedures over open surgeries, as well as the prevalence of colorectal cancer in the general population, have all led to the global growth of the laparoscopic industry. Furthermore, technological advancements in the medical field and rising laparoscopic bariatric procedures are also influencing the market growth.

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Global Laparoscopic Instruments Market- Overview

Laparoscopic surgery is a surgical procedure that uses small, narrow incisions. Thin and long tubes are inserted into the abdomen for the surgery through less than one-centimeter cuts. This procedure makes extensive use of the video camera as well as other laparoscopic equipment and instruments. On the monitor, images of organs inside are generated by a camera inserted through a tube. This allows surgeons to conduct the operation without making larger incisions in the body, avoiding further blood loss or hemorrhage.

Global Laparoscopic Instruments Market Forecast and Trends

Growth Drivers

Growing Preference for Minimally Invasive Surgeries

Laparoscopic surgeries are minimally invasive surgeries, which means they are performed with fewer incisions. This type of surgery reduces total costs and the amount of hard work that surgeons would put in, as well as the amount of time spent in hospitals. Furthermore, fewer incisions allow for faster healing besides reducing blood loss. Because of its advantages, more and more patients around the world are choosing laparoscopic surgery over open surgery, thereby propelling the global laparoscopic instruments market forward.

Expanding Healthcare Infrastructure in Developing Economies

As the prevalence of colorectal cancer is emerging among the higher population in the world, only the healthcare system can provide better services for its treatment. Developing economies like China, India, Japan, are striving to improve their medical industry. Since these countries can provide better surgical treatments at affordable charges than most developed countries, medical tourism is progressing in such countries. Due to these factors, the demand for laparoscopic instruments is gaining traction and is expected to grow in the forecast period.

Restraints

Restrictive Government Policies and Tax Reforms may Restrict the Market Growth

High taxes levied by various governments on the selling of medical instruments such as laparoscopic surgery instruments are a significant impediment to the growth of the healthcare industries and the markets that support them. Due to such tax systems, the net income of the companies operating is drastically reduced. As a result, new entrants are reluctant to enter the market and establish themselves, thereby stifling market growth.

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Impact of Covid-19 on Global Laparoscopic Instruments Market

The COVID-19 outbreak and global pandemic situation have had a significant negative effect on the surgery industry, particularly the surgery instrument market. Following the social distancing procedures, hospital visits have decreased dramatically, and the overall healthcare system has been compelled to change its focus to treating COVID-19 patients. All non-emergency operations that could be postponed were rescheduled to avoid the spread of viruses, as surgeries involve the opening of certain body parts. Patients may have been put at risk as physicians and healthcare facilities were more vulnerable to coronavirus. This has had a direct effect on laparoscopic instrument production, resulting in the contraction of the market.

Global Laparoscopic Instruments Market – By Product

Based on product type, the global laparoscopic instruments market is segmented into energy devices, laparoscopes, insufflation devices, handheld instruments, suction/irrigation devices, and other products. In the year 2020, laparoscopes had the highest demand, resulting in the largest market share. This is due to the fact that laparoscopes are extremely useful in a variety of surgical procedures such as gynecology, cholecystectomy, urology, and so on. With the growing popularity of bariatric surgical procedures involving the use of laparoscopic instruments, the market for these is also increasing.

Global Laparoscopic Instruments Market – By Application

Based on application, the market is categorized into bariatric surgery, gynecological surgery, colorectal surgery, and other applications. Among these, the gynecological surgery segment held the largest market share for laparoscopic instruments in the year 2020. Some of the factors driving the high demand of this segment is spiraling gynecological laparoscopic procedures like hysterectomy, ovarian cyst removal, tubal ligation, etc. Due to research and development, the market is expected to rise even further during the forecast period, as gynecology expertise expands.

Global Laparoscopic Instruments Market – By End-user

Based on end-user, the global laparoscopic instrument market is segmented into ambulatory centers, hospitals, clinics, and other end users. The hospital segment held the largest market share in the year 2020. This is mostly due to the growth in the number of technologically specialized hospitals equipped with cutting-edge surgical instruments and technical devices, highly skilled doctors, and cost-effective treatments. The number of patients approaching hospitals for the treatment of various medical ailments like rectal prolapse, ulcerative colitis, Crohn’s disease, etc. is rising. As a result, the demand for laparoscopic instruments in hospitals is also going up.

Global Laparoscopic Instruments Market – Regional Insights

Geographically, the laparoscopic instrument market is categorized into North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle-East & Africa (MEA). North America has the largest market share in terms of demand for laparoscopic instruments among all countries. The prevalence of obesity among the American population is on a drastic surge over the past few years. The cases of colorectal cancer are also rising. As a result, people are getting more aware of laparoscopic procedures for the treatment of these ailments, which is pulling the market growth for laparoscopic instruments.

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Competitive Landscape

The key players in the global laparoscopic instruments market are Becton, Dickinson And Company, B. Braun Melsungen AG, Smith & Nephew PLC, Medtronic PLC, Cook Medical LLC, Fujifilm Holdings Corporation, Olympus Corporation, Stryker Corporation, Richard Wolf GmbH, KARL STORZ SE & Co. KG, Aesculap, Microline Surgical, Boston Scientific, Apollo Endosurgery, Ethicon Inc., Olympus Corporation, Millennium Surgical Corp, CooperSurgical, Inc., Stryker Corporation and other prominent players. These players adopt competitive strategies like acquisitions, partnerships, and mergers to stay ahead in the market. Moreover, product launches for the purpose of expanding their portfolio are very popular among companies in the laparoscopic instruments industry.

Recent Developments

l In April 2021, Genesis MedTech, a well-known medical device company, announced the launch of novel Laparoscopic technology in China and Singapore. In complicated processes, the latest technology would enable surgeons to conduct more minimally invasive surgery rather than open surgery, minimizing patient complications and allowing for a quicker recovery period.

l In February 2019, CONMED Corporation, a US-based surgical and medical instrument manufacturing company acquired Buffalo Filter LLC, a surgical smoke evacuation company based in the US. The acquisition was aimed towards expanding the company’s portfolio by combining the products of Buffalo filters like smoke evacuators, laparoscopic solutions, smoke evacuation pencils, etc.

Scope of the Report

By Product

Ø Energy Devices

Ø Laparoscopes

Ø Insufflation Devices

Ø Handheld Instruments

Ø Suction/Irrigation Devices

Ø Other Products

By Application

Ø Bariatric Surgery

Ø Gynecological Surgery

Ø Colorectal Surgery

Ø Other Applications

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By End-user

Ø Ambulatory Centers

Ø Hospitals and Clinics

Ø Other End Users

By Region

Ø North America

Ø Europe

Ø Asia-Pacific (APAC)

Ø Latin America (LATAM)

Ø Middle-East & Africa (MEA)

What are the aspects of this report that relate to regional analysis?

The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.

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Updated : 2022-05-23 07:21 GMT+08:00