2018-2028 Laparoscopy Market: Trends, Revenue and Opportunities | Techsci Research

Posted by Kumar on April 28th, 2023

According to a TechSci Research report, the Laparoscopy Market is expected to experience impressive growth between 2024-2028. This can be attributed to the rising prevalence of cardiovascular diseases, diabetes, and obesity worldwide, as well as an increase in bariatric surgeries for weight reduction. The growth in the geriatric population and disposable income also contribute to this trend. In addition, the demand for minimally invasive surgeries and advancements in laparoscopy devices will drive market growth. The adoption of advanced technology and awareness of new treatment methods are other factors that will propel the market's growth in the coming years. Moreover, the acceptance of robot-assisted laparoscopic surgeries and the introduction of novel laparoscopic instruments will create significant growth opportunities. The market's growth will also be bolstered by increasing funding and favorable government policies. However, the high costs of laparoscopy devices may impede market growth, as well as a lack of awareness and trained healthcare professionals.

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Global Laparoscopy market can be segmented based on product, application, end user, region, and competitive landscape.

Based on the Product, the global laparoscopy market can be segmented into Laparoscopes, energy systems, trocars, closure devices, suction/ irrigation device, insufflation device, robot assisted systems, hand access instruments. The energy systems segment dominated the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. This can be ascribed to the growing number of minimally invasive surgeries performed such as bariatric surgeries, cholecystectomy, appendectomy, among others.

Based on End User, the market can be segmented into Hospitals, Clinics, Ambulatory, and Others. The hospital segment is expected to dominate during the forecast period on account of the large number of patients visiting hospitals for getting different procedures performed. Additionally, hospitals have proper infrastructure along with availability of skilled professionals to carry out different laparoscopic procedures.

Major companies operating in the Global Laparoscopy Market are:

• Medtronic Plc
• Stryker Corporation
• Karl storz se & co. KG
• Johnson & Johnson
• Olympus Corporation
• Conmed Corporation
• B. Braun Melsungen AG
• The Cooper Companies Inc
• Richard Wolf Gmbh
• Microline Surgical, Inc.

For instance, in February 2020, the company aligned with VirtaMed-a Swiss manufacturer of medical simulators-to release a simulator for laparoscopic training. This device is a mixed reality simulator that combines real laparoscopic tools with a computer-generated representation of what is happening inside the model patient.

For instance, in February 2020, Medtronic announced the acquisition of Digital Surgery-a medical device company and innovator in surgical Artificial Intelligence (AI), digital education, training, and data analytics. This acquisition will enhance its robotic-assisted surgery platform and provide AI and data analytics within laparoscopic procedures.

Trends and Developments

• Olympus Corporation launched its advanced bipolar surgical energy products, the POWERSEAL family, in September 2021. These products offer state-of-the-art sealing, dissection, and grasping capabilities to surgeons in laparoscopic or open surgery. Furthermore, they significantly reduce the force required by the surgeon to close the jaws, enhancing their efficacy.
• In April 2021, Genesis MedTech and LivsMed, a medical device company, entered into a strategic distribution agreement. The agreement covers the sales and distribution of the ArtiSential line of products in the Chinese and Singaporean markets. These products incorporate ground-breaking technology for minimally invasive surgery.
• Hologic, Inc. acquired Bolder Surgical in October 2021. Bolder Surgical is a privately held, U.S.-based company that provides advanced energy vessel sealing surgical devices, enabling Hologic to strengthen its surgical portfolio.
• Erbe Elektromedizin acquired Maxer Endoscopy in April 2021. Maxer Endoscopy is a leading manufacturer of endoscopic systems and instruments for a wide range of surgical procedures, including laparoscopy, hysteroscopy, urology, pediatric surgery, arthroscopy, spine endoscopy, and ENT surgery.
• Advanced Medical Solutions Group obtained CE Mark approval for its laparoscopic gastrointestinal (“GI”) sealant device, Seal-G MIST, in April 2021. This device is designed to seal gastrointestinal tissues during surgery, thereby reducing the risk of leakage and improving patient outcomes.

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“North America is expected to dominate the Global Laparoscopy Market due to the growing dependency on minimally invasive surgeries compared to open surgeries across the region. Similarly, growing competition among prominent players related to product innovation along with growing healthcare expenditure in the region are expected to create significant growth during the forecast period. Also, growing research and development in the healthcare industry and growth in healthcare expenditure in emerging countries will further drive market growth over the years. Furthermore, growing number of advanced, well-equipped hospitals and a large number of surgical procedures are driving the growth of the market. Besides, advanced technology, growing investment, and improving reimbursement scenario, and growing medical tourism are further expected to create lucrative opportunities for market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Laparoscopy Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product (Laparoscopes, Energy Systems, Trocars, Closure Devices, Suction/ Irrigation Device, Insufflation Device, Robot Assisted Systems, Hand Access Instruments), By Application (Bariatric Surgery, Urological Surgery, Gynecological Surgery, General Surgery, Colorectal Surgery, Other Surgeries), By End User (Hospitals, Clinics, Ambulatory, Others) and By Region,” has evaluated the future growth potential of Global Laparoscopy Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Laparoscopy Market.

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