Global Laparoscopic Instruments Market: Snapshot
With the rising preference for minimally invasive surgeries among consumers, laparoscopic surgeries are gaining significant popularity across the world. In this surgical technique, surgeries are performed through small incisions, for which a video camera and laparoscopic instruments or devices are used. An image of the organs to be operated is provided onto a screen through the camera that enables the surgeon to perform the surgery in a 3D plane while visualizing the whole procedure on a 2D screen. Since laparoscopic surgeries need a much smaller incision, they tend to have a number of benefits, such as lesser pain, less blood loss, and a relatively faster postoperative recovery.
Laparoscope, together with energy devices and insufflators, is the main instrument utilized during a laparoscopic surgery. Staplers, ligation devices, and suturing devices also play a major role in this type of surgeries. Commonly, these instruments find a widespread usage in minimally invasive surgeries, such a colorectal surgeries, bariatric surgeries, and gynecological operations.
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The global laparoscopic instruments market is likely to witness a remarkable growth in the years to come, thanks to the increasing focus of key players on the research for the development of innovative products. The leading participants are also involving into mergers, acquisitions, and strategic alliances in order to expand their existing portfolios for the expansion of their businesses. The accelerated entry of startups is also projected to boost this market in the near future.
Global Laparoscopic Instruments Market: Overview
The global market for laparoscopic devices has witnessed significant traction in the past few years, chiefly owing to the significant rise in world’s geriatric and obese population, and the subsequent rise in the prevalence of several conditions that are treated with the help of laparoscopic devices. With consumers across the globe increasingly favoring minimally invasive procedures over open surgeries, the demand for laparoscopic instruments is expected to further rise in the global market in the next few years.
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This report on the global laparoscopic instrument market presents an in-depth analysis of the potential growth dynamics of the market over the period between 2017 and 2025, wherein 2016 is considered the base year. The report covers an analysis of the key trends expected to have a significant stake in the future growth of the market over the report’s forecast period. The report also highlights the key growth drivers, challenges, and opportunities expected to influence the development of the market during the forecast period.
The study provides a holistic view on the future growth prospects of the market in terms of sales volume and revenue estimate (US$ mn/bn), across key regional markets. The report analyzes the laparoscopic instrument market in terms of projections and estimates for key segments across all regional markets examined in the report. The report also analyzes business profiles of some of the key vendors in the market, recent developments, growth strategies, and includes a market positioning analysis of these companies.
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Global Laparoscopic Instrument Market: Segmentation
The report segments the global laparoscopic devices market on the basis of criteria such as application, product, end-use sector, and geography.
The key product varieties marketed in the global laparoscopic instrument market include laparoscope, closure devices, energy devices, insufflators, and accessories. Of these, the segment of energy devices is expected to account for a dominant share in the global laparoscopic instrument devices market over the report’s forecast period and is also expected to register expansion at the maximum CAGR. Technological advancements in the field of energy devices have made laparoscopic surgeries procedures more precise, making technologically advanced energy devices an indispensable part of any such procedures.
The key application areas of laparoscopic instruments include colorectal surgery, gynecological surgery, bariatric surgery, and urological surgery. Of these, the segment of gynecological surgery is expected to dominate the global laparoscopy instruments market over the forecast period in terms of revenue contribution. In terms of growth pace, however, the segment of bariatric surgery is expected to lead, chiefly owing to the rising demand for bariatric surgeries for obesity and related disorders.
Of the key end users of laparoscopic instruments, the hospitals segment presently dominates in terms of revenue contribution to the global market. However, the vast costs associated with long-term hospital stay are compelling patients to prefer ambulatory surgical centers, especially for simple, non-complicated surgical procedures. The demand for laparoscopic instruments in ambulatory surgical centers is expected to rise at a significant pace in the next few years.
Global Laparoscopic Instrument Market: Geographical and Competitive Landscape
The report examines the market for laparoscopic instrument across regions such as North America, Europe, Asia Pacific, and Middle East and Africa. Presently, North America dominates the market owing to the huge population of obese people, a continuously rising number of bariatric surgeries, and developed healthcare infrastructure. In the future years, however, the Asia Pacific market is expected to emerge as the most promising destination for investments owing to the huge and rapidly rising population of geriatrics, vast untapped opportunities, and increasing expenditure on healthcare by the affluent middle class demographic.
Some of the key vendors operating in the global laparoscopic instrument market are Olympus Corporation, B. Braun Aesculap, Stryker Corporation, Cook Medical Incorporated, Smith & Nephew PLC, and Medtronic plc.