DUBLIN, July 14, 2020 /PRNewswire/ — The “Laparoscopy Devices Market by Product, Application and End User: Global Opportunity Analysis and Industry Forecast, 2020-2027” report has been added to ResearchAndMarkets.com’s offering.
The global laparoscopy devices market 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 procedure used to examine organs inside the abdomen or pelvic cavities by inserting a laparoscope through a small incision in the abdomen. A laparoscope comprises a long, thin tube with high-intensity light and high-resolution camera attached in the front. The camera transmits images to the monitor as it travels through the abdomen. Laparoscopy is used for diagnosis and treatment of endometriosis, ectopic pregnancy, pelvic inflammatory disease (PID), cysts, and fibroids. Rise in cases of morbid obesity at global level is the major factor that drives market growth.
In addition, growth in bariatric surgeries performed globally to reduce weight enhances market growth. As per data published by the American Society for Metabolic & Bariatric Surgery (ASMBS), in 2018, the total number of bariatric surgeries performed in America alone were 252,000. However, dearth of skilled professionals and the high cost of these devices restrain market growth. Furthermore, increase in adoption of robot-assisted laparoscopic surgeries and introduction of innovative laparoscopic devices in the market offer lucrative opportunities for market growth.
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.
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