Laparoscopy Devices Market Size
|2019 - 2029
|Base Year For Estimation
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and its growth?
Laparoscopy Devices Market Analysis
The laparoscopy devices market is expected to witness a CAGR of 7.9% during the forecast period.
During the COVID-19 pandemic, hospitals worldwide reduced elective and non-urgent cases to maintain social distancing and avoid transmission of the virus. However, urgent gynecological and cancer procedures were being performed, and it's critical that all theater staff be safeguarded, and the risk of SARS-CoV-2 viral transmission is minimized when operating on asymptomatic or diagnosed COVID-19 patients. For instance, the Saudi Arabia National Cancer Institute (SANCI) issued a guideline for caregivers and cancer facilities in March 2020 to reduce the impact of COVID-19 on cancer patients. The COVID-19 pandemic has significantly impacted urological care and urologist recruitment in this region. The urology practice has been changed due to the exceptional impact on the healthcare system during the pandemic. According to a 2020 study published in the Dove Press, an increase in delayed urological services during the pandemic resulted in a wait of 8 weeks in outpatient clinics. However, as COVID cases started declining, the number of surgeries performed began returning to the pre-COVID levels.
Certain factors driving the market growth include increasing technological advancements, the growing prevalence of chronic diseases, and the growing demand for minimally-invasive surgery. Minimally-invasive surgeries (MIS) cause less post-operative pain, and hence, patients receive smaller dosages of pain killers. There are minimal cuts or stitches involved, the hospital stay is relatively shorter, and patients need not visit the hospital frequently.
Traditional open surgeries involve long incisions made through the muscles, and these muscles take a considerable amount of time to heal, whereas MIS procedures involve smaller incisions, leading to a quicker recovery. These surgeries have been gaining wider acceptance among the geriatric population due to the relatively shorter recovery time. Few organizations, such as the American Association of Gynecologic Laparoscopists (AAGL) and the International Society of Gynecologic Endoscopy (ISGE), have been collaborating with healthcare agencies in South Africa to create awareness about the benefits of MIS and improve the adoption rate.
The rising prevalence of chronic diseases is driving up the demand for better treatment measures. As a result, the patient pool for chronic diseases is expected to drive the number of surgeries performed, which will aid in the growth of disposable laparoscopy devices. For instance, according to data published by World Health Organization, 2021, cardiovascular diseases account for 17.9 million deaths globally, followed by cancers (9.3 million), respiratory diseases (4.1 million), and diabetes (1.5 million).
Thus, due to the benefits associated with minimally-invasive surgeries, the adoption rate has been increasing, which may further increase the market's overall growth over the forecast period.
Laparoscopy Devices Market Trends
This section covers the major market trends shaping the Laparoscopy Devices Market according to our research experts:
Bariatric Surgery Expected to Hold Significant Market Share in the Application Segment
Bariatric surgery or weight loss surgery is one of the major treatment procedures for treating obesity. During this procedure, the size of the stomach is reduced by either removing some parts of the stomach or using a gastric band. Increasing obesity rates among children and adolescents are being witnessed across the globe, leading to several young patients undergoing bariatric surgery.
The increasing bariatric surgical procedures are likely to raise the demand for disposable laparoscopic devices. For instance, according to a research study by Ergie P.Inocian et al., published in Surgery for Obesity and Related Diseases Journal June 2021, there has been an increasing volume of bariatric surgeries in the Middle East to address obesity and metabolic disorders. Thus, bariatric surgical procedures continue to gain acceptance as a treatment for severe obesity in the Middle-East and North Africa regions, which is expected to impact market growth positively.
According to the World Health Organization (WHO), in 2021, across the world, obesity has almost increased three-fold since 1975. In the five-19 age bracket, obesity increased from less than 1% to 7% over the same period. The WHO states that most of the world's population live in countries where being overweight and obese kills more people than being underweight. Bariatric surgical procedures cause weight loss by restricting the amount of food the stomach can hold, causing malabsorption of nutrients, or combining both gastric restriction and malabsorption. Laparoscopic bariatric surgery is safe in the elderly population, similar to bariatric procedures.
North America Dominates the Market and Expected to Continue Dominance in the Forecast Period
North America is anticipated to dominate the laparoscopy devices market globally. The factors attributed to the region's high growth are the increasing cases of obesity, various chronic diseases, and the growing adoption of minimally-invasive surgeries.
According to an article published by the Center for Disease Control and Prevention, updated in April 2021, six in ten adults in the US have at least one chronic disease, and four in ten adults have two or more chronic diseases. Thus, the high prevalence of chronic diseases in the country increases the demand for minimally invasive surgeries, thus, driving the laparoscopy devices market.
In addition, organic and inorganic strategies such as mergers and acquisitions and partnerships with key market players are being adopted to strengthen companies' product portfolios and drive the market studied. Also, several product launches in the market are expected to result in lucrative market growth. For instance, in June 2021, Ethicon, part of the Johnson & Johnson Medical Devices Companies, launched ENSEAL X1 Curved Jaw Tissue Sealer, a new advanced bipolar energy device that increases procedural efficiency and provides stronger sealing and better access to more tissue. The device is indicated for colorectal, gynecological, bariatric surgery, and thoracic procedures.
The advantages of minimally-invasive surgeries, such as less invasiveness, the quick recovery time of patients, and the low cost of treatment, have augmented the demand for laparoscopy devices in the region. Furthermore, advancements in various surgical devices from established players in the US are likely to drive market growth in North America.
Laparoscopy Devices Industry Overview
The global laparoscopy devices market is highly competitive and consists of a number of major players. Companies, like B. Braun Melsungen AG, Boston Scientific Corporation, ConMed Corporation, Johnson & Johnson (Ethicon Inc.), Karl Storz GmbH & Co.KG, Medtronic PLC (Covidien), Olympus Corporation, Richard Wolf GmbH, Smith & Nephew PLC, and Stryker Corporation, among others, hold a substantial share in the laparoscopy devices market.
Laparoscopy Devices Market Leaders
Johnson & Johnson (Ethicon, Inc.)
Karl Storz GmbH & Co.KG
Medtronic PLC. (Covidien)
Boston Scientific Corporation
*Disclaimer: Major Players sorted in no particular order
Laparoscopy Devices Market News
In September 2021, Olympus Corporation launched the POWERSEAL family of advanced bipolar surgical energy products, which provide surgeons with state-of-the-art sealing, dissection, and grasping capabilities in laparoscopic or open surgery while greatly reducing the force required by the surgeon to close the jaws.
In April 2021, Genesis MedTech entered a strategic distribution agreement with LivsMed, a medical device company that brings ground-breaking technology to minimally invasive surgery, for the sales and distribution of the ArtiSential line of products for the Chinese and Singaporean markets.
Laparoscopy Devices Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 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 Technological Advancements
4.2.2 Growing Prevalence of Chronic Diseases
4.2.3 Growing Demand for Minimally-Invasive Surgery
4.3 Market Restraints
4.3.1 Lack of Expertise in Laparoscopic Surgeries
4.3.2 High Costs Associated with these Devices
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 (Market Size by Value - USD Million)
5.1.1 Energy Devices
5.1.3 Insufflation Devices
5.1.4 Handheld Instruments
5.1.5 Suction/Irrigation Devices
5.1.6 Other Products
5.2.1 Bariatric Surgery
5.2.2 Gynecological Surgery
5.2.3 Colorectal Surgery
5.2.4 Other Applications
5.3 End User
5.3.1 Ambulatory Centers
5.3.2 Hospitals and Clinics
5.3.3 Other End Users
5.4.1 North America
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
5.4.5 South America
220.127.116.11 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 B. Braun Melsungen AG
6.1.2 Boston Scientific Corporation
6.1.3 ConMed Corporation
6.1.4 Johnson & Johnson (Ethicon Inc.)
6.1.5 Karl Storz GmbH & Co. KG
6.1.6 Medtronic PLC (Covidien)
6.1.7 Olympus Corporation
6.1.8 Richard Wolf GmbH
6.1.9 Smith & Nephew PLC
6.1.10 Stryker Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Laparoscopy Devices Market Research FAQs
What is the current Laparoscopy Devices Market size?
The Laparoscopy Devices Market is projected to register a CAGR of 7.90% during the forecast period (2024-2029)
Who are the key players in Laparoscopy Devices Market?
Johnson & Johnson (Ethicon, Inc.), Karl Storz GmbH & Co.KG, Medtronic PLC. (Covidien), Olympus Corporation and Boston Scientific Corporation are the major companies operating in the Laparoscopy Devices Market.
Which is the fastest growing region in Laparoscopy Devices Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Laparoscopy Devices Market?
In 2024, the North America accounts for the largest market share in Laparoscopy Devices Market.
What years does this Laparoscopy Devices Market cover?
The report covers the Laparoscopy Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Laparoscopy Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Laparoscopy Devices Industry Report
Statistics for the 2024 Laparoscopy Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Laparoscopy Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.