Laparoscopy Device Market Estimation of Top Key Players Shares, Revenue, Analysis and Forecasts Till 2023 - ConMed Corporation, SCHINDLER, Mediflex Surgical Products, B. Braun Melsungen AG, etc

The Global Laparoscopy Device Market is expected to reach an approximate CAGR of 7.2% during the forecast period.

Laparoscopy is a surgical procedure where improved surgical outcome is achieved through magnified vision offered by the optics and high definition cameras. Laparoscopy devices facilitate less operative incision and enable minimally invasive surgeries other than accommodating a wide range of patient anatomical needs. Laparoscopy has become the typical standard in the surgical treatment of various devices. Surging prevalence of gynecological and urological diseases coupled with increasing consumer inclination towards minimally invasive surgeries has been responsible for the increase in demand for laparoscopic procedures which has consequently driven the market for laparoscopy devices. Market Research Future (MRFR), has predicted the global laparoscopy device market to register a CAGR of 7.2% over the forecast period of 2018-2023.

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Advantages associated with laparoscopy devices such as high degree magnification which allows precision to a large extent, better hemostasis, and precise surgical gesture has been instrumental in boosting the growth of the global laparoscope device market. Contrary to open surgical procedures, laparoscopic surgical procedures involve considerably less incision which can be linked with quicker recovery, short span of hospital stay, and less aesthetic damage. Penetration of laparoscopic devices in the treatment of a variety of gynecological, urological, and colorectal disorders has stimulated the growth of the market.

Other driving factors include a rise in the volume of laparoscopic surgical procedures and increased investment in R&D undertakings which has resulted in the development of improved and sophisticated laparoscopy devices.

Contrarily, conventional laparoscopy devices are associated with technical challenges to surgeons due to their limited dexterity which might constrain the growth of the market. Additionally, the lack of surgeons with advanced technical knowledge and risks associated with laparoscopy such as bleeding, infection, and organ damage are also expected to impede the growth of the market over the forecast period.

Key Players for Global Laparoscopy Device Market

The key player operating in the global laparoscopy device market include Smith & Nephew PLC., Stryker Corporation, Integra, Inc., SCHÖLLY FIBEROPTIC GMBH,

Mediflex Surgical Products, Vimex Endoscopy, ConMed Corporation, Karl Storz GmbH & Co.KG, Olympus Corporation, Richard Wolf GmbH, SCHINDLER, Boston Scientific Corporation, WISAP Medical Technology GmbH, B. Braun Melsungen AG (Aesculap, Inc.), Medtronic PLC. (Covidien), and Johnson & Johnson Medical.

Industry Updates

In January 2019, FDA approved a new digital laparoscopy device developed for colorectal, gynecological, and gallbladder removal surgery. The new device developed by TransEnterix Inc., a medical device company has received approval for use in the US.
In January 2019, the US Food and Drug Administration (FDA) approved a new HEMOBLAST Bellows laparoscopic Applicator for all minimally invasive procedures. The device has been developed by Biom’up, a medical device company specializing in surgical hemostasis.
Segments for Global Laparoscopy Device Market

The Global Laparoscopy Device Market is segmented on the basis of product, application, and end-user. The laparoscopy device market, by product is sub-segmented into laparoscopes, energy devices, insufflators, robot-assisted surgery systems, suction or irrigation systems, closure devices, hand instruments, access devices, accessories, and others. On the basis of application, the market is categorized into general surgery, bariatric surgery, gynecological surgery, urological surgery, colorectal surgery, and others. General surgery is further sub-segmented into cholecystectomies, hernia repairs, appendectomies, anti-reflux surgeries, and others. Bariatric surgery is further sub-segmented into gastric bypass, sleeve gastrectomy, gastric banding and others. Gynecological surgery is further categorized into ovarian cystectomy, oophorectomy, myomectomy, hysterectomy, biopsy, and others. On the basis of end-user, the market is segmented into hospitals and clinics, ambulatory surgical centers, laparoscopic centers, and others.

Regional Analysis for Global Laparoscopy Device Market

By region, the global laparoscopy device market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa(MEA).

The Americas dominate the global laparoscopy device market. North America accounts for the larger share of the Americas market. A rise in a number of bariatric surgeries, fast uptake of technologically advanced devices and high healthcare expenditure can be credited for the growth of the market.

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Europe ranks second in the global laparoscopy device market. The widespread prevalence of diseases requiring laparoscopic surgery in the region coupled with high healthcare expenditure is driving the market growth in Europe.

APAC is poised to register the highest CAGR over the forecast period. Expanding base of patient population, a rise in healthcare expenditure and increasing awareness regarding laparoscopic surgical procedures is expected to foster the growth of the APAC laparoscopy device market.

The MEA market for laparoscopy device is expected to showcase moderate growth over the forecast period. Increasing investment by market players is expected to accelerate the market growth while stringent government policies might hinder the growth of the market over the forecast period.

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This release was published on openPR.