The global laparoscopy devices market was valued at USD 9.47 billion in 2017 and total market revenue (TMR) is expected to reach USD 13.69 billion by 2025 growing at a Compound annual growth rate (CAGR) of 4.9% from 2018 to 2025. Laparoscopy is a surgical procedure generally performed for an abdomen or pelvis using small incisions within the body. Also known as a diagnostic laparoscopy, a band-aid or a keyhole surgery, owing to its use of minimally invasive procedures. Laparoscopy uses devices which have an attached camera and light, ensuring clear visualization of the organs to a doctor. During the surgical procedure, a laparoscope is inserted through a small incision in the abdomen, and carbon dioxide is filled inside with the help of a catheter for better visualization of the organs present in the pelvis and abdomen. Growing applications for the treatment of chronic diseases strongly propels the market growth for laparoscopic devices. Additionally, the rise in demand for minimally invasive surgeries is one of the most important factors augmenting the demand of this market during the projection period.
Bariatric Surgery segment is estimated to witness significant growth
The laparoscopy devices market has been segmented based on types into insufflation devices, laparoscope, robotics-assisted laparoscopic devices, trocar / access devices, and others. Based on access devices size, the market has been analyzed as 2mm, 3mm, 5mm, 10mm, and others. Based on application, the laparoscopic devices market has been bifurcated as general surgery, gynecological surgery, spinal surgery, bariatric surgery, and others. Bariatric Surgery is expected to witness significant growth during the forecasted period owing to the rise of obesity problems. Moving forward, based on end-users, the market is segmented as ambulatory surgical centers, hospitals, where hospitals segment is estimated to possess huge market growth owing to improved healthcare facilities initiatives undertaken by the government. Robust technological advancements in medical devices such as the 3.0mm micro-laparoscopic device launched by Becton, Dickinson & Company which functions like a 5.0mm device and designed for micro-laparoscopic surgeries. These customizable micro-laparoscopic instruments ensuring less invasive procedures to consumers, thereby increasing the adoption of laparoscopy devices and is anticipated to propel the market growth in the near future.
North America holds the largest market share by region
The global laparoscopy devices market has been geographically segmented into Asia-Pacific, Europe, North America, Latin America, the Middle East and Africa region. North America holds the largest market share due to the huge adoption of advanced technologies in their laparoscopic devices, along with highly trained surgeons. Asia-Pacific is estimated to witness the fastest growth during the projection period, owing to its huge customer base. Emerging economies like China and India further increases the healthcare expenditure which gradually leads to market expansion with growing new opportunities.
However, there are certain challenges which might hamper the global laparoscopy devices market growth during the projection period. These factors include the slow growth of skilled surgeons in the developing regions and the high costs of laparoscopic instruments. But, due to intense competition among the key competitors, and the growing prices of laparoscopic devices are expected to lessen in the coming years.
Major Players in Global Laparoscopy Devices Market
Some of the key players in the global laparoscopy devices market include Bayer AG, Becton, Dickinson & Co., Boston Scientific Corporation, Covidien Plc., Mediflex Surgical Products among few others.
Global Laparoscopy Devices Market: By Types
Global Laparoscopy Devices Market: By Access Devices Size
Global Laparoscopy Devices Market: By Application
Global Laparoscopy Devices Market: By End-User
Global Laparoscopy Devices Market: By Geography