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COVID-19 Impact on Laparoscopy Devices Market Value to hit $18.90 billion by 2027 | B. Braun Melsungen AG, Boston Scientific Corporation

07-28-2020 03:18 PM CET | Health & Medicine

Press release from: Allied Market Research

Laparoscopy Devices Market

Laparoscopy Devices Market

The global laparoscopy devices market was valued at $12.06 billion in 2019 and is expected to garner $18.90 billion by 2027, registering a CAGR of 5.8% during the forecast period 2020 - 2027.

Global Laparoscopy Devices Market Report provides an overview of the market based on key parameters such as market size, sales, sales analysis and key drivers. The market size of the market is expected to grow on a large scale during the forecast period (2020-2027). This report covers the impact of the latest COVID-19 on the market. The coronavirus epidemic (COVID-19) has affected all aspects of life around the world. This has changed some of the market situation. The main purpose of the research report is to provide users with a broad view of the market. Initial and future assessments of rapidly changing market scenarios and their impact are covered in the report.

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The energy devices segment accounted for more than one-fourth of the global market in 2020.

The global laparoscopy devices market is expected to grow at a faster rate during the forecast period, owing to growth in preference for minimally invasive procedures and increase in number of bariatric procedures using laparoscopes. In addition, technologically advanced laparoscopy devices and rise in incidences of colorectal canceris anticipated to augmentthe growth of the market in the future

Laparoscopy is a minimally invasive surgical procedure that assists in diagnosis of various abdominal and pelvic disorders, such as cysts, adhesions, fibroids, and infection that occurs in female pelvic organs. Laparoscopy is also known as “keyhole” surgery, and is performed by creating a small incision in the abdomen. Laparoscopes are inserted through a small incision in the abdomen, which captures pictures of abdominal organs. This procedure also assists in performing a biopsy of tissues and surgeries, such as cholecystectomy (laparoscopic gallbladder surgery), appendectomies (removal of appendix) and anti-reflux surgery, treatment for acid reflux, also known as GERD (gastroesophageal reflux disease).

The key factors that drive the global laparoscopy devices market include rise in number of obese populations, growth in laparoscopic-based bariatric surgeries for weight reduction, and increase in technological advancements pertaining to these devices. However, lack of expertise in laparoscopic surgeries and high costs associated with these devices and procedures are anticipated to restrain the laparoscopy devices market growth.

The energy devices segment accounted for more than one-fourth of the global market in 2019. This segment is anticipated to maintain its dominance during the forecast period, accounting for maximum laparoscopy devices market share by 2027. This is due to increase in advancements pertaining to energy devices used for laparoscopy and large-scale incorporation of these devices in laparoscopic applications. However, the laparoscope segment is anticipated to grow at a rapid rate during the forecast period.

The robot-assisted surgical system is anticipated to grow at the highest CAGR, attributed to the ability of these devices to facilitate minimally invasive surgical procedures. The global acceptance for robotic-based surgery for hysterectomies, prostatectomies, nephrectomies, removal of fibroids, and others has increased the demand for laparoscopy-based surgeries.

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Bariatric surgery accounted for about one-fifth of the total share in 2019, driven by the growth in number of surgeries, such as gastric bypass, sleeve gastrectomy, and gastric banding. The growth in obese patients is expected to increase chances of related diseases, such as cardiovascular diseases, cancer, osteoarthritis, and diabetes, in turn increasing the demand for laparoscopic based bariatric surgery globally.

In 2019, North America was the leading revenue contributor to the global laparoscopy devices market, owing to increase in geriatric population and prevalence of gastrointestinal & abdominal diseases in the region. Europe has the second largest share in the global laparoscopy devices market. However, large population base, increased affordability, and improvement in healthcare facilities are expected to fuel the growth of the Asia-Pacific laparoscopy devices market.

The major companies profiled Are:

• Johnson & Johnson (Ethicon, Inc.)
• Karl Storz GmbH & Co.KG
• Boston Scientific Corporation
• Medtronic PLC. (Covidien)
• Olympus Corporation
• Richard Wolf GmbH
• ConMed Corporation
• B. Braun Melsungen AG (Aesculap, Inc.)
• Smith & Nephew PLC.
• Stryker Corporation.

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About Us

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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