Laparoscopic Devices Market Startup Strategy Resources, Grow Pricing Activity and Forecasts to 2025 Estimated By Top Players Stryker Corporation, Johnson & Johnson, Karl Storz GmbH & Co.KG, Boston Scientific Corporation

Laparoscopy is a minimally-invasive surgical diagnostic procedure used to examine organs inside the abdomen, which is carried out with specialized laparoscopic devices. In laparoscopy surgery, various instruments are used to perform the surgery such as laparoscope, hand access instrument, energy products, trocars/ access device, robot assisted system, insufflation devices, suction/irrigation device, and closure devices. The laparoscope is a long, thin tube with high-resolution camera at front with high-intensity light. Procedures such as hernia repairs, gastric bypass, bowel resection, and organ removal are routinely carried out laparoscopically.

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Demand for laparoscopic devices has increased significantly, due to advancement in technology in energy devices, laparoscopes, and robot assisted systems. For instance, da Vinci Surgical System developed by Intuitive Surgical, Inc., which is a combination of robotics and computer imaging that enables microsurgery in a laparoscopic environment.

The global laparoscopic devices market was valued at US$ 7,635.2 million in 2016 and is expected to witness a robust CAGR of 7.7 % over the forecast period (2017–2025).

Increasing preference for minimally invasive surgeries is expected to fuel growth of the global laparoscopic devices market

North America accounted for the largest share in the global laparoscopic devices market, followed by Europe in 2016. This is attributed to increasing awareness related to laparoscopy and presence of trained surgeons in North America. According to Surgical Endoscopy Journal in 2013, surgeons are using minimally invasive surgical techniques, primarily laparoscopy, and robotic surgery to perform procedures that were previously done as open surgery. For instance, surgeons perform cholecystectomy, laparoscopically in 96% of the cases in U.S.

In 2014, companies based in China and the U.K. collaborated and signed US$ 3.0 Bn healthcare trade deals for research, hospital construction, training, and diagnostics. As per the agreement, U.K.-based organizations such as Annie Barr, Glasgow Caledonian University, and Kings College London are expected to train Chinese healthcare professionals from Nanjing, Beijing, Shanghai, Chengdu, and Shenzhen, as a part of the Chinese government plan to train around 150,000 doctors and 2 million nurses by 2020, which in turn will fuel growth of the laparoscopic devices market.

Market Dynamics

Increasing adoption and awareness of laparoscopic surgery is expected to act as a major driver for growth of laparoscopic devices market. The trend of minimally invasive surgery over open surgery also favors growth of laparoscopic devices market. Innovations in devices, instruments and systems by manufacturers is also expected to positively affect growth of the market. For instance, Ethicon in August 2017, launched ProxiSure, an advanced laparoscopic suturing device featuring Ethicon endomechanical suture and curved needle technologies. The manufactures need to improve the design of the non-invasive surgery robots, reduce the expense and size, which could favor the growth of the market.

Minimally invasive surgery is in high demand among patients and healthcare practitioners owing to better effectiveness and faster recovery. Manufacturers are therefore working in the direction to improve accessibility to minimally invasive surgery devices and techniques. For instance, Verily Life Sciences LLC in collaboration with Johnson & Johnson, formed Verb Surgical Inc., in March 2015. Verb Surgical focuses on developing a comprehensive surgical solutions platform to improve access to minimal invasive surgery.

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Key companies covered as a part of this study include, Stryker Corporation, Johnson & Johnson, Karl Storz GmbH & Co.KG, Boston Scientific Corporation, Medtronic plc. (Covidien), Olympus Corporation, Richard Wolf GmbH, ConMed Corporation, B. Braun Melsungen AG, and Smith & Nephew PLC.

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