Laparoscopic Devices Market to Grow Two-Fold, Surpassing US$ 15.3 Bn by 2032

Preference for Minimally Invasive Procedures to Increase Laparoscopic Devices Sales by 7.1% CAGR

A detailed study by Fact.MR on the global laparoscopic devices market focuses on crucial trends influencing the sales in the market. It also offers comprehensive insights into key drivers and opportunities creating growth prospects for the market through multiple segments such as product type, application, end-use, and regions over the coming decade.

NEW YORK, April 13, 2022 /PRNewswire/ -- The laparoscopic devices market is estimated to reach a valuation of US$ 7.8 Bn in 2022, with sales increasing by 1.9x between 2022 and 2032.

Growing demand for minimally invasive surgeries to reduce hospital stay, pain, and other complications is increasing the application of laparoscopic devices. On account of this, the overall sales of laparoscopic devices are projected to reach US$ 15.3 Bn, registering 7.1% CAGR during the forecast period (2022-2032).

Also, rising awareness about physical fitness among people with obesity is increasing the number of laparoscopic procedures such as bariatric surgeries. This is projected to surge the sales of laparoscopic devices.

Further, key players are integrating robotics, artificial intelligence, and machine learning in laparoscopic devices to conduct complex surgeries. This is likely to create prolific growth opportunities for the market.

In addition to this, rising concerns about scarring post-surgery is shifting the preference from conventional surgical methods to laparoscopy. This is estimated to spur the sales in the coming years.

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Subsequently, increasing prevalence of uterine fibroids and endometriosis among women is surging the need of laparoscopic surgeries to avoid risks of infection. Backed by this, the use of laparoscopic devices is likely to increase over the coming years.

Key Takeaways:

• In terms of end user, hospitals segment held nearly 72% of the overall market share in 2021.
• By product type, energy systems segment is estimated to hold maximum share in the market, expanding at 8.5% CAGR until 2032.
• Based on application, general surgery segment is expected to dominate the market, registering 7.3% CAGR during the assessment period.
• North America is estimated to spearhead the growth in laparoscopic devices market, creating an absolute $ opportunity of US$ 2.5 Bn.
• In 2021, the U.S. held nearly 83% of demand share in North America market and the trend is likely to continue over the coming years.

Growth Drivers:

• Adoption of laparoscopic procedures to treat lifestyle diseases such as obesity, gall bladder-related problems, and diverticulitis will boost the market.
• Growing preference for minimally invasive surgeries for reduced hospitals stay, low pain, and minimal bleeding is increasing the demand in the market.

Restraints:

• Lack of skilled surgeons in underdeveloped regions might hamper the growth in the market.

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Competitive Landscape:

Key players profiled in the global laparoscopic devices market are integrating innovative technologies in laparoscopic devices to gain competitive edge. Some of the players are adopting new market strategies such as joint ventures, collaborations, and acquisitions to strengthen their global footprint.

For instance,

• September 2021: Olympus Corporation introduced the POWERSEAL line, which are innovative bipolar surgical energy tools that provide surgeons with an advanced dissection, sealing, and gripping capabilities during laparoscopic or open surgeries.
• April 2021: Genesis MedTech entered into a joint venture agreement with LivsMed, for commercialization of the ArtiSential product line in Singapore and China.

Key Companies Profiled by Fact.MR

• Karl Storz SE & CO. Kg
• BD
• Medtronic
• Stryker Corporation
• Johnson and Johnson
• Olympus Corporation
• B. Braun Melsungen AG
• Richard Wolf GmbH
• Shenzen Mindray Bio Medical Electronics Co., Ltd.
• The Cooper Companies Inc.
• CONMED Corporation
• Microline Surgical
• Intuitive Surgical
• Welfare Medical Ltd.
• DEAM

More Valuable Insights on Laparoscopic Devices Market

Fact.MR in its latest study offers a focused view on the global laparoscopic devices market by covering comprehensive insights for the forecast period of 2022 to 2032. This survey also highlights the latest trends, opportunities, and other factors spurring the sales in the laparoscopic devices market through detailed segmentation as follows:

By Product Type:

• Trocars
• Energy Systems
• Closure Devices
• Suction / Irrigation Devices
• Insufflation Devices
• Laparoscopes
• Hand Access Instruments
• Robot-assisted System

By Application:

• Bariatric Surgery
• Colorectal Surgery
• General Surgery
• Gynaecological Surgery
• Urological Surgery
• Others

By End Use:

• Hospitals
• Clinic
• Ambulatory

By Region:

• North America
• Latin America
• Europe
• APAC
• MEA

Key Questions Covered in the Laparoscopic Devices Market Report

• At what rate will the global laparoscopic devices market grow until 2032?
• Which is the leading region in the global laparoscopic devices market during 2022-2032?
• What will be the market value of laparoscopic devices market in 2022?
• Which are the challenges encountered in the global laparoscopic devices market?
• Which are the factors bolstering the growth in laparoscopic devices market?

Explore Fact.MR's Coverage on the Healthcare Domain

Surgical Suction Pumps Market: The overall sales of surgical suction pumps are expected to rise owing to its increasing application in vacuum-assisted delivery, liposuction and other procedures. Apart from this, surging demand for clearing bodily fluids and unwanted tissues and gases during surgical procedures will bolster the growth in the market.

Laparoscopic Needle Holder Robotic Devices Market: Increasing demand for robotic-assisted surgery for the cutting and stitching of internal tissue is likely to spur the sales of laparoscopic needle holder robotic devices. Additionally, rising incidence of obesity is increasing the application in gastric banding, bariatric surgery, and others through laparoscopy. This is likely to drive the market in the coming years.

Laparoscopic Sutures Market: Growing preference for minimally invasive surgeries due to minimal blood loss and less pain is projected to surge the demand for laparoscopic sutures. Furthermore, rising number of laparoscopic procedures due to prevalence of gastrointestinal diseases is expected to spur the demand for laparoscopic sutures.

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