|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The 3D laparoscopy imaging market is expected to register a CAGR of nearly 4.5% over the forecast period.
With the outbreak of COVID-19, 3D laparoscopy procedures have seen renewed focus as studies have shown that patients who had undergone bariatric surgeries had a lower risk of hospital and intensive care unit (ICU) admissions. Researchers at the Cleveland Clinic had commissioned a study in November 2020 and came up with the above observation. This is likely to increase the demand for bariatric procedures, which will eventually positively affect the demand for 3D laparoscopy devices. The factors driving market growth include increasing preference for and advancements of 3D imaging technology, increase in obesity and rising demand for bariatric surgeries, and rising demand for minimally invasive procedures.
The demand for minimally invasive procedures is also rising due to its convenience. Minimally invasive surgeries (MIS) cause less post-operative pain and hence, patients receive smaller dosages of pain killers. As there are lesser cuts or stitches involved, the hospital stay is relatively shorter, and patients need not visit the hospital frequently. The cost for conducting MIS is also very low. In one of research conducted by Medtronic recently, the cost-effectiveness of MIS was compared with open surgery (OS) techniques for one- and two-level lumbar spinal fusion in the treatment of degenerative lumbar spinal conditions. The research was conducted jointly in the United Kingdom and Italy. It was observed that the total cost saving per procedure was significantly lower than OS. MIS procedures use 3D laparoscopy imaging devices abundantly due to their convenience. In addition, conventional laparoscopic camera consists of only a 2-Dimensional (2D) system and although there is an improvement in graphics from high definition (HD) system, there is still a lack of depth and spatial perception. 3-Dimensional (3D) systems can potentially improve laparoscopic training by eliminating the need to overcome the loss of stereoscopic vision. Increase in demand for minimally invasive procedures is likely to affect market growth in a positive manner.
Scope of the Report
3D imaging is a novel technology in laparoscopic surgery, and recent studies have shown that modern 3D techniques are superior in an experimental setting. 3D imaging in laparoscopy offers various advantages by improving co-ordination, spatial awareness, and timing in comparison to the traditional 2D imaging.
The 3d laparoscopy imaging market is segmented by application into gynecological surgery, bariatric surgery, urological surgery, and other applications. By end user, the market is segmented into hospitals, ambulatory surgical centers, and other end users. By geography, the market has been divided into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) and volume (units) for the above segments.
|By End User|
|Ambulatory Surgical Centers|
|Other End Users|
Key Market Trends
Bariatric Surgery is Expected to Hold Significant Market Share by Application over the Forecast Period
The COVID-19 pandemic is likely to have a positive impact on the market. According to a study appearing in Medscape in December 2020, patients with obesity who had lost weight after bariatric surgery and then contracted COVID-19 were less likely to be admitted to the hospital for COVID, and the disease was less severe compared to COVID patients with obesity who had not undergone surgery. Obesity is a metabolic dysfunction and is often associated with a wide range of chronic illnesses, which cause significant increases in mortality and comorbidity. This is likely to affect the market development for 3D laparoscopy imaging devices in a positive manner.
According to the WHO (World Health Organization), in 2019, an estimated 38.2 million children under 5 years were overweight or obese. Moreover, these numbers were expected to increase exponentially in the near future. Almost half of the children under 5 years, who were overweight or obese in 2019, lived in Asia. According to a 2018 Europa report, more than half the population was overweight in 34 out of 36 OECD countries, and almost one in four people were obese. The report also stated that overweight-related disorders would claim as many as 92 million lives in the OECD, with obesity and overweight-related diseases reducing life expectancy by nearly 3 years by 2050.
According to worldobesity.org, in 2018, the prevalence of obesity was significantly high in developed countries like the United States (42.8%), Australia (31.3%), and Belgium (21.20%) as compared to developing countries like India (4.10%). However, countries in the Pacific islands like American Samoa (74.6%) have some of the highest obesity rates in the world. In addition to this, developing countries have a higher disease burden for obesity, due to which the market for 3D laparoscopy imaging is expected to increase in these countries.
Obesity is also associated with substantial increases in premature mortality, impaired quality of life, and substantial costs of healthcare. The major comorbidities include hypertension, Type-2 diabetes, dyslipidaemia, myocardial infarction, certain cancers, stroke, sleep apnea, and osteoarthritis. Most of the comorbidities are the leading causes of death too. Hence, increased prevalence of obesity and the resulting diseases has created a burden among the population, worldwide, both in developing and developed economies. 3-dimensional (3-D) technologies have been introduced in an attempt to improve surgeon vision and thus increase the safety of the bariatric surgical techniques, driving the growth of the segment in the market.
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North America Dominates the Market and is expected to continue so over the Forecast Period
The number of people suffering from obesity in America has been increasing. The Centers for Disease Control and Prevention (CDC) estimated that the prevalence of obesity was 42.4% in 2017-2018, according to its CDC National Center for Health Statistics (NCHS) data brief. The study also pointed out that the percentage of overweight adults, including those who are obese, was 73.6%. As obesity is linked to an increasing number of bariatric surgeries performed each year, with the rising prevalence of obesity, bariatric surgery has proven to be effective in its treatment.
In a November 2020 Cleveland Clinic study, researchers were able to show that among obese people who had tested positive for COVID-19, a history of bariatric surgery was associated with a significantly lower risk of hospital and intensive care unit admission. Thus, obese people would now be more inclined toward conducting bariatric surgeries, thereby creating demand for 3D laparoscopy imaging devices.
In a national survey conducted in 2018 in Mexico, 36.1% of adults were found to suffer from obesity, with a substantially higher prevalence among women than men (40·2% and 30·5%, respectively). The high prevalence of obesity in the Mexican population is expected to lead to many bariatric surgeries, which will likely fuel the demand for 3D laparoscopy imaging. According to the American Society for Metabolic and Bariatric Surgery’s 2018 statistics, the total number of metabolic and bariatric procedures performed in 2018 increased from approximately 228,000 to 252,000 in the United States itself. This represents a 10.8% increase in the number of procedures in 2018. These statistics show an increase in the number of bariatric surgeries, which drives the overall market growth. Also, according to the National Institute of Diabetes and Digestive and Kidney Diseases in the United States, in 2018, the major annual expenditures under Medicare beneficiaries were majorly for prostate cancer, interstitial cystitis, lower tract transitional cell carcinoma, urinary tract stones, urethral stricture, and urinary tract infections. Hence, the rising demand for 3D laparoscopic imaging for bariatric and urologic surgeries is expected to propel the market growth in the region.
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The global 3D laparoscopy imaging market is moderately competitive and consists of a few major players. Companies like Olympus Corporation, Sometech, Inc., Karl Storz SE & Co. KG, B. Braun Melsungen AG, Fujifilm Healthcare, Medtronic, and Siemens Healthineers, among others, hold the substantial market share in the 3D laparoscopy imaging market.
There have been many developments in the market taking place recently.
In December 2020, Olympus Corporation released an upgraded version of its rigid 3D ENDOEYE video laparoscope, which allows surgeons greater control than conventional 3D laparoscopes. The upgrade provides true horizon orientation for surgeons.
In January 2020, Karl Storz SE & Co. KG launched a new 3D surgical imaging system with a modular camera platform. The new system allows for better visualization of microsurgical and open interventions in different surgical fields.
Table of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Preference for and Advancements of 3D Imaging Technology
4.2.2 Rise in Obesity and Increase in Demand for Bariatric Surgeries
4.2.3 Rising Demand for Minimally Invasive Procedures
4.3 Market Restraints
4.3.1 High Cost Associated with the Products
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Application
5.1.1 Gynecological Surgery
5.1.2 Bariatric Surgery
5.1.3 Urological Surgery
5.1.4 Other Applications
5.2 By End User
5.2.2 Ambulatory Surgical Centers
5.2.3 Other End Users
5.3.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
5.3.5 South America
18.104.22.168 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Olympus Corporation
6.1.2 Sometech Inc.
6.1.3 Karl Storz SE & Co. KG
6.1.4 B. Braun Melsungen AG
6.1.5 Conmed Corporation
6.1.6 Medtronic Plc
6.1.7 Siemens Healthineers
6.1.8 Johnson & Johnson Medical Devices
6.1.9 Stryker Corporation
6.1.10 Richard Wolf GmbH
6.1.11 Conmed Corp.
6.1.12 Xion Medical
6.1.13 Pentax Medical
6.1.14 Teleflex Incorporated
6.1.15 Fujifilm Healthcare
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global 3D Laparoscopy Imaging Market market is studied from 2018 - 2026.
What is the growth rate of Global 3D Laparoscopy Imaging Market?
The Global 3D Laparoscopy Imaging Market is growing at a CAGR of 4.5% over the next 5 years.
Which region has highest growth rate in Global 3D Laparoscopy Imaging Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global 3D Laparoscopy Imaging Market?
North America holds highest share in 2020.
Who are the key players in Global 3D Laparoscopy Imaging Market?
Olympus Corporation, Karl Storz SE & Co. KG, B. Braun Melsungen AG, Siemens Healthineers, Sometech Inc. are the major companies operating in Global 3D Laparoscopy Imaging Market.