$18+ Billion Worldwide Laparoscopy Devices Industry to 2027 – Growth in Adoption of Robot-Assisted Laparoscopy Devices Presents Opportunities

DUBLINJuly 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 AmericaEuropeAsia-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

  • 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 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

Key Findings

  • 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%.

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