Global Laparoscopic Instrument Market Size, Share & Trends Analysis Report by Product Type (Laparoscope, Insufflator, Energy Devices, Handheld Instruments, Suction/Irrigation Devices, Laparoscopic Accessories, and Other Products), By Application (General Surgery, Bariatric Surgery, Colorectal Surgery, Gynecological Surgery, Neurological Surgery, Urological Surgery, and Others), By End-User (Hospitals and Clinics, Ambulatory Surgical Centers, and Diagnostics Centers) Forecast, 2022-2028
The global laparoscopic instrument market is anticipated to grow at a substantial CAGR of 7.8% during the forecast period. The increasing trend for the need for minimally invasive procedures, increasing number of bariatric surgeries, and collaborations organizations like the International Society of Gynecologic Endoscopy (ISGE) with healthcare sectors are some of the factors that are estimated to drive the market growth in the forecast period. For instance, according to reports of the American Society for Metabolic and Bariatric Surgery, in 2019, an estimated 256,000 bariatric surgeries were carried out across the globe. This was an increase of around 62% of the number of bariatric surgeries carried out in the year 2011. The increase in the prevalence of colorectal cancer is other factor that is expected to drive the growth of the market. For instance, according to the reports of the American Society of Colon and Rectal Surgeons, in 2020, in the US, an estimated 147,000 new colorectal cancer cases were diagnosed. Moreover, about 1 in 20 Americans are estimated to develop colorectal cancer in their lifetime.
However, the high cost of diagnosis and treatment, gaps in infrastructure support for laparoscopic procedures, and increase in the number of robotic surgeries are some of the constraints that are estimated to challenge the growth of the laparoscopic instrument market in the forecast period. For bridging the gap in infrastructure support for laparoscopic procedures, the health systems are struggling to provide the equipment and resources needed to enable modern surgical methods such as laparoscopic. Conversely, technological advancements such as maximizing image quality during surgical procedures and growth in healthcare markets are estimated to create opportunities for the market players.
COVID-19 Impact on Laparoscopic instrument Market
The global laparoscopic instrument market was negatively affected by the COVID-19 pandemic since December 2019. The outbreak of COVID-19 has certainly impacted the global laparoscopic instrument market due to the decrease in the number of surgeries across the globe. Only the emergency cases were being diagnosed in emerging economies like India and China. According to Indiana University researchers, healthcare visits in the US dropped by 40% in the first six weeks of the pandemic (from early March to mid-April). In the first half of 2020, the number of surgeries declined by 70-80 %. Besides, according to a study published in the Indian Journal of Surgery in June 2020, outpatient consultations and non-emergency operations decreased from over 20 cases per day and 40 procedures per month to nearly zero cases in the first half of 2020, Elective procedures account for 20% of overall healthcare revenue in countries like the US, therefore this has had a significant impact on revenue. The market is estimated to witness a “W” shaped recovery in the forecast period owing to the restart of several healthcare services.
The global laparoscopic instrument market is segmented based on product type, application, and end-user. Based on product type, the laparoscopic instrument market is segmented into a laparoscope, insufflator, energy devices, handheld instruments, suction/irrigation devices, laparoscopic accessories, and other products. Based on the application segment, the market is segmented into general surgery, bariatric surgery, colorectal surgery, cardiac surgery, gynecological surgery, neurological surgery, urological surgery, and others. Further, based on the end-user segment, the market is segmented into hospitals and clinics, ambulatory surgical centers, and diagnostics centers.
Global Laparoscopic instrument Share by Application, 2020 (%)
Global Laparoscopic instrument Share by Application
Gynecological Survey Segment to Hold a Lucrative Share in the Global Laparoscopic Instrument Market
Amongst the application segment of the global laparoscopic instrument market, gynecological surgery held significant shares in the laparoscopic market in 2020. The market growth is mainly attributed to the rise in human papillomavirus across the globe. According to the reports of the World Health Organization (WHO), In 2018, 570,000 women were diagnosed with cervical cancer of which about 311,000 women died from the disease. 99% of cervical cancer cases are linked to infection with high-risk human papillomaviruses (HPV) which are transmitted through sexual contact. To increase the survival rate, many market players come with different strategies promoting advancement in diagnosis. Moreover, government support and initiatives for the development of novel drugs for these cancers, a rise in awareness among people, and a rise in healthcare expenditure also positively affect the market.
However, the high cost of gynecological cancer diagnosis and treatment, the long recovery process, and adverse effects associated with cancer therapy is the challenges that hamper the growth of the market. According to NCBI, the average cost of care for women with ovarian cancer in the first year after surgery is estimated to be $100,000.
The global laparoscopic instrument market is analyzed based on the geographical regions that are contributing significantly to the growth of the market. Based on the geography, the market is bifurcated into North America (the US and Canada), Europe (Germany, Spain, Italy, France, the UK, and the Rest of Europe), Asia-Pacific (India, China, Japan South Korea, and the Rest of Asia-Pacific), and the Rest of the World (the Middle East and Africa, and Latin America). North America is estimated to have one of the major shares in the laparoscopic instrument market. The high adoption rate of pets and their mandatory vaccination are the major factors for the growth of the North American market. The rise in the geriatric population and technological advancements in the region are some of the drivers that drive the growth of the market in this region. Europe is also estimated to have a significant share in the market owing to the improved healthcare infrastructure in the region.
Global Laparoscopic Instrument Market Growth, by Region 2022-2028
Global Laparoscopic Instrument Market Growth, by Region
Asia-Pacific is projected to highest Contributor to the growth of the Global Laparoscopic Instrument market
Asia-Pacific is anticipated to be the fastest-growing region in the global laparoscopic instrument market. The market is growing owing to an increase in government initiatives and policies to improve the healthcare sector and a rise in the prevalence of chronic diseases in emerging economies such as China and India. However, the large population base, increased affordability, and increasing improvement in the healthcare facilities are expected to drive the market growth in the region.
Market Players Outlook
The key players of the laparoscopic instrument market are B. Braun Melsungen AG, Becton, Dickinson and Co., Medtronic plc, Smith & Nephew plc, Stryker Corp, Olympus Corp., Johnson and Johnson Services, Inc., and Applied Medical Resources Corp., among others. These key manufacturers are adopting various strategies such as new product launches and approvals, mergers and acquisitions, partnerships and collaborations, and many others to thrive in a competitive environment. For instance, in February 2020, Medtronic plc announced the acquisition of Digital Surgery. The acquisition aims to accelerate Medtronic’s strategy to provide ai and data within laparoscopic and robotic-assisted surgery.
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global laparoscopic instrument market based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying who-stands-where in the market.
Table of Contents
- Current Industry Analysis and Growth Potential Outlook
- Impact of COVID-19 on the Global Laparoscopic Instrument Market
- Recovery Scenario of Global Laparoscopic Instrument Market Industry
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players
5.1.3. Energy Devices
5.1.4. Handheld Instruments
5.1.5. Suction/Irrigation Devices
5.1.6. Laparoscopic Accessories
5.1.7. Others Product
5.2. Global Laparoscopic Instruments Market by Application
5.2.1. General Surgery
5.2.2. Bariatric Surgery
5.2.3. Colorectal Surgery
5.2.4. Gynecological Surgery
5.2.5. Neurological Surgery
5.2.6. Urological Surgery
5.3. Global Laparoscopic Instruments Market by End-User
5.3.1. Hospitals& Clinics
5.3.2. Ambulatory Surgical Centers
5.3.3. Diagnostic Centers
6.1.1. United States
6.2.6. Rest of Europe
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7.2. Applied Medical Resources Corp.
7.3. B. Braun Melsungen AG
7.4. Boston Scientific Corp.
7.5. Becton, Dickinson and Co.
7.6. ConMed Corp.
7.7. Cook Medical Inc.
7.8. Dufner Instrumente GmbH
7.9. Elcon Medical Instruments GmbH
7.10. Endocontrol SA
7.11. Henke-Sass, Wolf GmbH
7.12. Hermann Medizintechnik GmbH
7.13. Intuitive Surgical, Inc.
7.14. Johnson and Johnson Services, Inc. (Ethicon Inc.)
7.15. Karl Storz GmbH& Co. KG
7.16. Medtronic plc
7.17. Microline Surgical Inc.
7.18. Olympus Corp.
7.19. Richard Wolf GmbH
7.20. Smith & Nephew plc
7.21. Stryker Corp.
A selection of companies mentioned in this report includes:
- Advanced Surgical Concepts Ltd.
- Applied Medical Resources Corp.
- B. Braun Melsungen AG
- Boston Scientific Corp.
- Becton, Dickinson and Co.
- ConMed Corp.
- Cook Medical Inc.
- Dufner Instrumente GmbH
- Elcon Medical Instruments GmbH
- Endocontrol SA
- Henke-Sass, Wolf GmbH
- Hermann Medizintechnik GmbH
- Intuitive Surgical, Inc.
- Johnson and Johnson Services, Inc. (Ethicon Inc.)
- Karl Storz GmbH& Co. KG
- Medtronic plc
- Microline Surgical Inc.
- Olympus Corp.
- Richard Wolf GmbH
- Smith & Nephew plc
- Stryker Corp.