The global laparoscopy devices market is segmented on the basis of product, application, end user, and region. By product, it is classified into laparoscopes, energy devices, insufflators, robot-assisted surgical systems, suction or irrigation systems, closure devices, hand instruments, access devices, accessories, and others. By application, it is categorized into general surgery, bariatric surgery, gynecological surgery, urological surgery, colorectal surgery, and others.
General surgery application is further classified into cholecystectomies, hernia repairs, appendectomies, anti-reflux surgeries, and others, whereas bariatric surgery application is classified into gastric bypass, sleeve gastrectomy, gastric banding, and others. Furthermore, on the basis of end user, it is divided into hospitals, clinics, and others.
In addition, the energy devices segment accounted for the highest market share in 2019, and is anticipated to lead throughout the forecast period, owing to technological advancements in the field of energy devices that aids in more precise and safe laparoscopic procedures. The bariatric surgery segment possesses high market potential, owing to surge in number of gastric bypass, sleeve gastrectomy, and gastric banding surgeries.
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America has accounted for the highest market share in 2019, and is expected to retain its dominance throughout the forecast period. This is attributed to factors such as technologically advanced laparoscopy surgeries and significant increase in bariatric surgeries due to high number of obese populations. However, Asia-Pacific is expected to emerge as a lucrative area with maximum growth potential, owing to improvement in healthcare facilities, available disposable income, and rapidly developing economic conditions.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a detailed quantitative analysis of the current market trends and future estimations from 2019 to 2027, which assists to identify the prevailing market opportunities.
- An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans.
- A comprehensive analysis of the factors that drive and restrain the growth of the global laparoscopy devices market is provided.
- An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves.
KEY MARKET SEGMENTS
By Product Type
- Laparoscopes
- Energy Devices
- Insufflators
- Robot-Assisted Surgery Systems
- Suction or Irrigation Systems
- Closure Devices
- Hand Instruments
- Access Devices
- Accessories
- Others
By Application
- General Surgery
- Cholecystectomies
- Hernia Repairs
- Appendectomies
- Anti-Reflux Surgeries
- Others
- Bariatric Surgery
- Gastric Bypass
- Sleeve Gastrectomy
- Gastric Banding
- Others
- Gynecological Surgery
- Urological Surgery
- Colorectal Surgery
- Others
By End User
- Hospitals
- Clinics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Australia
- Japan
- India
- China
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Turkey
- Saudi Arabia
- South Africa
- Rest of LAMEA
KEY MARKET PLAYERS
- B. Braun Melsungen AG
- Boston Scientific Corporation
- ConMed Corporation
- Johnson & Johnson
- Karl Storz SE & CO. KG
- Medtronic plc (Covidien)
- Olympus Corporation
- Richard Wolf GmbH
- Smith & Nephew plc
- Stryker Corporation
What is the estimated value of the Global Laparoscopy Devices Market?
What is the growth rate of the Global Laparoscopy Devices Market?
What is the forecasted size of the Global Laparoscopy Devices Market?
Who are the key companies in the Global Laparoscopy Devices Market?
Report Attribute | Details |
---|---|
No. of Pages | 286 |
Published | April 2020 |
Forecast Period | 2019 - 2027 |
Estimated Market Value ( USD | $ 12067.6 million |
Forecasted Market Value ( USD | $ 18907.05 million |
Compound Annual Growth Rate | 5.8% |
Regions Covered | Global |
No. of Companies Mentioned | 9 |
Table of Contents
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Executive Summary
According to the report titled, 'Laparoscopy devices Market by Product, Application, and End User: Opportunity Analysis and Industry Forecast, 2020-2027, "the global laparoscopy devices market size was valued at $12,067.60 million in 2019, and is projected to reach $18,907.05 million by 2027, registering a CAGR of 5.8%. Laparoscopy is a minimally invasive surgical procedure that assists in diagnosis of various abdominal and pelvic disorders, such as cysts, adhesions, fibroids, and infection that occurs in female pelvic organs. Laparoscopy is also known as 'keyhole” surgery, and is performed by creating a small incision in the abdomen. Laparoscopes are inserted through a small incision in the abdomen, which captures pictures of abdominal organs. This procedure also assists in performing a biopsy of tissues and surgeries, such as cholecystectomy (laparoscopic gallbladder surgery), appendectomies (removal of appendix) and anti-reflux surgery, treatment for acid reflux, also known as GERD (gastroesophageal reflux disease).The key factors that drive the global laparoscopy devices market include rise in number of obese populations, growth in laparoscopic-based bariatric surgeries for weight reduction, and increase in technological advancements pertaining to these devices. However, lack of expertise in laparoscopic surgeries and high costs associated with these devices and procedures are anticipated to restrain the laparoscopy devices market growth.
The energy devices segment accounted for more than one-fourth of the global market in 2019. This segment is anticipated to maintain its dominance during the forecast period, accounting for maximum laparoscopy devices market share by 2027. This is due to increase in advancements pertaining to energy devices used for laparoscopy and large-scale incorporation of these devices in laparoscopic applications. However, the laparoscope segment is anticipated to grow at a rapid rate during the forecast period.
The robot-assisted surgical system is anticipated to grow at the highest CAGR, attributed to the ability of these devices to facilitate minimally invasive surgical procedures. The global acceptance for robotic-based surgery for hysterectomies, prostatectomies, nephrectomies, removal of fibroids, and others has increased the demand for laparoscopy-based surgeries.
Bariatric surgery accounted for about one-fifth of the total share in 2019, driven by the growth in number of surgeries, such as gastric bypass, sleeve gastrectomy, and gastric banding. The growth in obese patients is expected to increase chances of related diseases, such as cardiovascular diseases, cancer, osteoarthritis, and diabetes, in turn increasing the demand for laparoscopic based bariatric surgery globally.
Key Findings Of The Study
The robot-assisted surgical systems segment is projected to grow at a lucrative CAGR of 6.8% during the forecast period.
The general surgery segment was the highest contributor to the market in 2018, and is expected to grow at a CAGR of 4.9% during the forecast period.
U.S. dominated the North America laparoscopy devices market, and is projected to retain this trend throughout the forecast period.
By end user segment, the clinics segment is estimated to grow at a CAGR of 6.0%.
In 2019, North America was the leading revenue contributor to the global laparoscopy devices market, owing to increase in geriatric population and prevalence of gastrointestinal & abdominal diseases in the region. Europe has the second largest share in the global laparoscopy devices market. However, large population base, increased affordability, and improvement in healthcare facilities are expected to fuel the growth of the Asia-Pacific laparoscopy devices market.
The key players operating in the global laparoscopy devices market are B. Braun Melsungen AG, Boston Scientific Corporation, ConMed Corporation, Johnson & Johnson, Karl Storz SE & CO. KG, Medtronic plc (Covidien), Olympus Corporation, Richard Wolf GmbH, Smith & Nephew plc and Stryker Corporation.
Companies Mentioned
- B. Braun Melsungen AG
- Boston Scientific Corporation
- ConMed Corporation
- Johnson & Johnson
- Karl Storz SE & CO. KG
- Medtronic plc (Covidien)
- Olympus Corporation
- Richard Wolf GmbH
- Smith & Nephew plc and Stryker Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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