Laparoscopic Devices Market
Laparoscopic Devices Market By Product Type (Trocars, Energy Systems, Closure Devices, Suction Devices), By Application (Bariatric Surgery, Colorectal Surgery, General Surgery), By End User & By Region – Global Market Insights 2022-2032
Analysis of Laparoscopic Devices Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Laparoscopic Devices Market Outlook (2022 to 2032)
Global sales of Laparoscopic Devices in 2021 was held at US$ 7.3 Bn. With 7.1%, the projected market growth during 2022 - 2032 is expected to be significantly higher than the historical growth. Energy Systems is expected to be the highest revenue generating product, while General Surgery is considered to be the highest revenue generating application with a CAGR of 8.5% and 7.3% respectively during 2022 to 2032.
| Attribute | Details |
|---|---|
| Forecast Period | 2022-2032 |
| Historical Data Available for | 2017-2021 |
| Key Market Segments Covered | Product Type, Application, End-use, Region, |
| Key Companies Profiled | Medtronic; Stryker Corporation; Karl Storz SE & CO. Kg; Johnson and Johnson; Olympus Corporation; CONMED Corporation; B. Braun Melsungen AG; The Cooper Companies Inc.; Richard Wolf GmbH; Microline Surgical; BD; Welfare Medical Ltd.; DEAM; Intuitive Surgical; Shenzen Mindray Bio Medical Electronics Co., Ltd. |
Laparoscopy is a surgical procedure that allows a surgeon or medical professional to see the inside of the abdomen and pelvis without making significant incisions in the skin. This procedure is commonly referred to as keyhole surgery or minimally invasive surgery. Global acceptance of laparoscopic equipment is expanding among healthcare practitioners all over the world.
As the tendency shifts mostly to developing nations, the laparoscopic devices market in emerging countries like as India and China is booming. According to the World Bank, numerous Asia Pacific emerging economies have risen in the rankings for the ease of conducting laparoscopic surgery-related business in recent years. As a result, these countries are experiencing an increase in foreign direct investment (FDI).
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Key Points Covered in Laparoscopic Devices Industry Survey:
- Market Estimates and Forecasts (2017-2032)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- COVID-19 Impact on Laparoscopic Devices and How to Navigate
- Recommendation on Key Winning Strategies
Revenue of Laparoscopic Devices from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032
As per the Laparoscopic Devices industry research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, market value of the Laparoscopic Devices industry increased at around 6.2% CAGR, wherein, countries such as the U.S., China, Japan, U.K. and South Korea held significant share in the global market.
Increasing use of minimally invasive operations over traditional methods, rising colorectal cancer prevalence, increased number of laparoscopic bariatric procedures, and other surgical-related technical breakthroughs are among the primary reasons driving the market. Owing to this, Laparoscopic Devices Market is projected to grow at a CAGR of 7.1% over the coming 10 years.
- The Laparoscopic Devices market reached a valuation of US$ 7.8 Bn in 2022 owing to which the worldwide revenues was up by 6% year-over-year.
- Fact.MR estimates that Laparoscopic Devices revenue will grow 1.9X from 2022 to 2032, reaching nearly US$ 15.3 Bn in 2032.
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How Transformation in Laparoscopic Surgery Practices Have been Shaping the Market?
The limited availability of well-competent surgeons makes it impossible to market laparoscopic tools effectively. According to a study, more than half of all laparoscopic injuries fall under these four categories: planting a veress needle or blind entry, creating a pneumoperitoneum, and introducing a primary trocar.
Some injuries can arise during trocar placement if it is not done carefully, including as abdominal wall hematoma, major bowel penetration, blood vessel penetration, and umbilical wound infection.
For example, according to 2021 statistics from the London School of Economics and Political Science, there is a deficit of medical surgeons in the United Kingdom, as well as an uneven distribution of surgeons in the region. As a result, individuals would prefer to undergo a total health transformation rather than get monthly doses of items that were prescribed.
What is the Impact of COVID 19 Crisis on the Laparoscopic Devices Market?
Until elective procedures were halted due to the COVID-19 outbreak, the laparoscopy device industry declined. In addition, unless medically necessary, performing procedures on COVID-19 positive or suspected patients was largely avoided. COVID-19 patients occupied the majority of hospital beds because they were selected over other seriously ill patients because of the faster recovery time. The demand for laparoscopic devices is anticipated to recover amid lower positive COVID cases due to the reopening of the market.
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Which Region is projected to Offer the Largest Opportunity for Laparoscopic Devices?
With over 7% projected CAGR, Laparoscopic Devices revenue is expected to grow at fastest pace in Asia-Pacific. However, the North America has been the largest revenue generator globally. Due to multiple mergers, partnerships, and acquisitions by key players, North America is expected to maintain the dominating position in the global Laparoscopic Devices market post the pandemic forecast period, with an absolute $ opportunity of US$ 2.5 Bn.
Country-wise Analysis
What are the Key Driving Factors for Laparoscopic Devices Revenue in the US?
In 2021, the United States accounted for approximately 83% of the North American laparoscopic devices market. The medical facilities in the country are highly modernized, resulting in a huge number of surgical procedures in the country, which benefits the laparoscopic industry. Furthermore, the rising prevalence of obesity and related illnesses in the region has contributed to the increasing usage of laparoscopy procedures and devices, which is likely to drive market growth during the forecast period.
Owing to the considerable increase in research and development activities in the laparoscopic devices, developing economies in Latin America and Asia Pacific are likely to lead to massive potential prospects for the market. The R&D arms of major multinational health corporations in these regions are also likely to fuel the industry.
Category-wise Insights
Which Laparoscopic Device Will Garner Significant Traction in the Coming Years?
The energy system devices will contribute the largest, expanding at 8.5% CAGR during the forecast period. These devices are in high demand due to their ability to perform quick sequential tissue and vascular sealing, coagulation, and transection.
Which Application of Laparoscopic Devices will Generate Highest Revenue?
General surgery is expected to have the largest market share and is expected to grow at a CAGR of 7.3%. Large number of people belong to the overweight and obese category due to unhealthy lifestyle, the rising need and demand for bariatric surgeries to be performed which require laparoscopic devices.
Which End User Will be the Most Potent Revenue Stream for Laparosopic Devices Market?
In terms of end user, hospitals hold around 72% of the market share in the laparoscopic devices market in 2021. A large number of patients seek treatment in hospitals for various disease diagnoses and subsequent surgical treatments including laparoscopy-based surgery. This is due to the fact that hospitals house high-quality medical devices, surgical services, and competent surgeons under one roof. As a result, the devices' sales in hospitals will increase.
Competitive Analysis
Product approvals, new product releases, acquisitions, collaborations, and innovations are all important methods used by leading market players to maintain their market position.
The key players operating in laparoscopic devices market have been investing in R&D to maintain their competitiveness. 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 are some of the key companies operating in laparoscopic devices market. Some of the recent developments of key laparoscopic device providers are as follows:
- In September 2021, Olympus Corporation released the POWERSEAL line of revolutionary bipolar surgical energy tools providing surgeons with cutting-edge sealing, dissection, and gripping capabilities in laparoscopic or open surgery while significantly lowering the force necessary to close the jaws.
- In April 2021, Genesis MedTech made a strategic alliance with LivsMed, a medical device company that develops new technologies for minimally invasive surgeries, for the expansion of the ArtiSential product line in China and Singapore.
- In June 2021, Intuitive India, a subsidiary of Intuitive Surgical, will deploy SureForm, the first robotic-assisted surgical stapler in India. It is aided by SmartFire technology, which is integrated software. This technique aided the company's geographic expansion.
- In 2021, Olympus Corporation marketed the SIF-H190 single-balloon enteroscopy technology to reach the small intestine deeply.
- In 2019, Intuitive Surgical, Inc. received clearance from the Federal Drug Administration for the da Vinci X Surgical System.
- In 2018, Stryker Corporation recently acquired K2M Group to expand its platform for orthopedic surgery. It also holds interests in additive manufacturing.
- In 2017, Ethicon acquired Megadyne Medical (US) to empower Ethicon’s innovative energy products with Megadyne’s robust portfolio of electrosurgical tools.
Similarly, recent developments related to companies offering laparoscopic devices have been tracked by the team at Fact.MR, which are available in the full report.
Market Segments Covered in Laparoscopic Devices Industry Analysis
-
By Product Type :
- Trocars
- Energy Systems
- Closure Devices
- Suction / Irrigation Devices
- Insufflation Devices
- Laparoscopes
- Hand Access Instruments
- Robot-assisted System
-
By Application :
- Bariatric Surgery
- Colorectal Surgery
- General Surgery
- Gynaecological Surgery
- Urological Surgery
- Others
-
By End-use :
- Hospitals
- Clinic
- Ambulatory
-
By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
Table of Content
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Product Type 6.2. Application 6.3. End-Use 7. Global Market Analysis and Forecast, By Product Type 7.1. Trocars 7.2. Energy Systems 7.3. Closure Devices 7.4. Suction / Irrigation Devices 7.5. Insufflation Devices 7.6. Laparoscopes 7.7. Hand Access Instruments 7.8. Robot-assisted System 8. Global Market Analysis and Forecast, By Application 8.1. Bariatric Surgery 8.2. Colorectal Surgery 8.3. General Surgery 8.4. Gynaecological Surgery 8.5. Urological Surgery 8.6. Others 9. Global Market Analysis and Forecast, By End-Use 9.1. Hospitals 9.2. Clinic 9.3. Ambulatory 10. Global Market Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. Asia Pacific 10.6. East Asia 10.7. MEA 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 14. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 15. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries 16. East Asia Sales Analysis and Forecast, by Key Segments and Countries 17. MEA Sales Analysis and Forecast, by Key Segments and Countries 18. Sales Forecast by Product Type, Application, and End-Use for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. Stryker Corporation 20.2. Karl Storz SE & CO. Kg 20.3. Johnson and Johnson 20.4. Olympus Corporation 20.5. CONMED Corporation 20.6. B. Braun Melsungen AG 20.7. The Cooper Companies Inc. 20.8. Richard Wolf GmbH 20.9. Microline Surgical 20.10. BD 20.11. Welfare Medical Ltd. 20.12. DEAM 20.13. Intuitive Surgical 20.14. Shenzen Mindray Bio Medical Electronics Co., Ltd.
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List Of Table
Table 01: Global Market US$ Mn Forecast by Region
Table 02: Global Market US$ Mn Forecast by Product Type
Table 03: Global Market US$ Mn Forecast by Application
Table 04: Global Market US$ Mn Forecast by End-Use
Table 05: North America Market US$ Mn Forecast by Country
Table 06: North America Market US$ Mn Forecast by Product Type
Table 07: North America Market US$ Mn Forecast by Application
Table 08: North America Market US$ Mn Forecast by End-Use
Table 09: Latin America Market US$ Mn Forecast by Country
Table 10: Latin America Market US$ Mn Forecast by Product Type
Table 11: Latin America Market US$ Mn Forecast by Application
Table 12: Latin America Market US$ Mn Forecast by End-Use
Table 13: Western Europe Market US$ Mn Forecast by Country
Table 14: Western Europe Market US$ Mn Forecast by Product Type
Table 15: Western Europe Market US$ Mn Forecast by Application
Table 16: Western Europe Market US$ Mn Forecast by End-Use
Table 17: Eastern Europe Market US$ Mn Forecast by Country
Table 18: Eastern Europe Market US$ Mn Forecast by Product Type
Table 19: Eastern Europe Market US$ Mn Forecast by Application
Table 20: Eastern Europe Market US$ Mn Forecast by End-Use
Table 21: Asia Pacific Market US$ Mn Forecast by Country
Table 22: Asia Pacific Market US$ Mn Forecast by Product Type
Table 23: Asia Pacific Market US$ Mn Forecast by Application
Table 24: Asia Pacific Market US$ Mn Forecast by End-Use
Table 25: East Asia Market US$ Mn Forecast by Country
Table 26: East Asia Market US$ Mn Forecast by Product Type
Table 27: East Asia Market US$ Mn Forecast by Application
Table 28: East Asia Market US$ Mn Forecast by End-Use
Table 29: MEA Market US$ Mn Forecast by Country
Table 30: MEA Market US$ Mn Forecast by Product Type
Table 31: MEA Market US$ Mn Forecast by Application
Table 32: MEA Market US$ Mn Forecast by End-Use
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List Of Figures
Figure 01: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 02: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 03: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-Use
Figure 04: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 05: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 06: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 07: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-Use
Figure 08: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 09: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 10: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 11: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-Use
Figure 12: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 13: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 14: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 15: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-Use
Figure 16: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 17: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 18: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 19: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-Use
Figure 20: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 21: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 22: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 23: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-Use
Figure 24: Asia Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 25: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 26: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 27: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-Use
Figure 28: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 29: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Product Type
Figure 30: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 31: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End-Use
Figure 32: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
How much is the current worth of the Laparoscopic Devices market?
The Global Laparoscopic Devices market is worth more than US$ 7.8 Bn at present.
What is the sales forecast for Laparoscopic Devices?
Value of Laparoscopic Devices are projected to increase at a CAGR of around 7.1% during 2022– 2032.
What was the last 7 year’s market CAGR?
Value of Laparoscopic Devices increased at a CAGR of around 6.2% during 2017 – 2021.
What is a key trend shaping the growth of the market for Laparoscopic Devices?
One of the key trends in laparoscopic devices market includes that their providers have been expanding their geographical footprint.
What are the factors driving the revenue for Laparoscopic Devices market?
The increasing number of patients suffering from gallstones, obesity, rectal prolapse, and severe gastroesophageal reflux disease syndrome are key drivers driving the Laparoscopic Devices market expansion.
Who are the key players in the Laparoscopic Devices market?
The key players in laparoscopic devices market are Olympus Corporation, B. Braun Melsungen AG, Intuitive Surgical Inc., Medtronic plc., Stryker Corporation, Smith & Nephew Plc, CareFusion Corporation, Ethicon US, LLC, KARL STORZ GmbH & Co. KG, Richard Wol
Which are the top 5 countries driving demand for Laparoscopic Devices?
Top 5 countries driving demand for Laparoscopic Devices are the U.S., China, Japan, U.K. and South Korea.
What is the outlook for the market in US?
U.S. will account for over 28% of global laparoscopic devices demand in 2032 with a CAGR of 7.1%
At what percentage is sales of Laparoscopic Devices going to register growth from 2022 to 2032?
The market for Laparoscopic Devices is projected to expand at a CAGR of around 7.1% during 2022 – 2032 with the global market size of US$ 15.3 Bn
What do statistics for South Korea and Japan reveal?
While the market in South Korea is expected to grow at nearly 6.8%, the market in Japan is projected to register a CAGR of nearly 8.8% during 2022 - 2032
Laparoscopic Devices Market