Laparoscopic Devices Market to grow by USD 4.39 billion from 2022-2027, North America to account for 36% of market growth - Technavio
NEW YORK, Sept. 24, 2023 /PRNewswire/ -- The laparoscopic devices market size is expected to grow by USD 4.39 billion from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 8.11% during the forecast period, according to Technavio Research. The market is segmented by Product (Instrument, accessories, and Laparoscopes), End-user (Hospitals, Clinics, and Ambulatory surgical centers), and Geography (North America, Europe, Asia, and Rest of World (ROW)). North America will contribute 36% to the growth of the global market during the forecast period. The regional market growth can be attributed to factors such as the high prevalence of liver cancer, obesity, substantial healthcare expenditure, and the swift adoption of advanced technologies. Data from a 2019 investor presentation by Boston Scientific revealed that around 850,000 individuals in the US are diagnosed with liver cancer annually. This indicates a significant patient pool and opportunities for market expansion. Similarly, allocated substantial resources to R&D, with an expenditure of approximately USD 1,143 million in 2020. Hence, such factors fuel the growth of the laparoscopic devices market in North America during the forecast period. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read a PDF Sample Report
Company Profile:
avateramedical GmbH, B.Braun SE, Becton Dickinson and Co., CMR Surgical Ltd., Conmed Corp., Cook Group Inc., FlexDex Inc., HOYA Corp., Intuitive Surgical Inc., Johnson and Johnson, KARL STORZ SE and Co. KG, Medtronic Plc, Olympus Corp., Peters Surgical, Richard Wolf GmbH, Smith and Nephew plc, Stryker Corp., Teleflex Inc., The Cooper Companies Inc., Titan Medical Inc.
B.Braun SE - The company offers laparoscopic devices such as EinsteinVision, and Caiman.
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By Segment - The instrument segment will be significant during the forecast period. Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a PDF Sample Report
"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio
Laparoscopic Devices Market: Driver & Trend:
Driver
- Increasing popularity of MI techniques
- High growth potential in emerging economies
- Growing geriatric population
The growing geriatric population drives the laparoscopic devices market growth. The global market is propelled by the active engagement of key players like Medtronic, Olympus, Boston Scientific, Johnson and Johnson, Stryker, and B. Braun Melsungen in emerging economies. Such players strategically increase their investments in research and development while expanding their presence in these regions. Countries such as China, Indonesia, India, Brazil, and Mexico are poised for above-average growth, as highlighted by the company, which prompted B. Braun Melsungen to invest significantly in research and development activities, with the aim of capitalizing on growth opportunities in these emerging economies. Hence, such factors fuel the growth of the laparoscopic devices market during the forecast period.
Strategic alliances among market vendors are a key trend in the laparoscopic devices market. Identify key trends, drivers, and challenges in the market. Download a sample report to gain access to this information.
FAQS
- How do the major trends impact the market?
- How big is the North America market?
- How do the key drivers and challenges impact the market?
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-user
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
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SOURCE Technavio
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