Laparoscopic Devices Market envisaged to reach USD 63.41 billion by 2030 with a CAGR of 17.3% from 2021-2030

The Laparoscopic Devices Market size was valued at USD 12.88 billion in 2020 and is predicted to reach USD 63.41 billion by 2030 with a CAGR of 17.3% from 2021-2030.

Laparoscopy is a surgical procedure performed by medical professionals to examine the organs inside the abdomen. This is a low-risk, minimally invasive surgery that requires only a small incision. The laparoscope consists of a long but thin tube with high-intensity light and a high-resolution camera in the front. As it passes through the abdomen, the camera transmits the image to the monitor. The necessary equipment to perform laparoscopy is laparoscopes, irrigation system, inflation set, trocar, sample collection bag, wound protector, internal closure device, gastric band, manual assist device, and power system, among others. Laparoscopy is generally used for operations involving the pancreas, stomach, intestines, and bile ducts. Laparoscopy is also used to diagnose and treat endometriosis, ectopic pregnancy, pelvic inflammatory disease (PID), cysts, and fibroids. The use of laparoscopic devices during surgery ensures minimal bleeding and helps maintain haemostasis. Compared to the common open surgery, in laparoscopic surgery patients have many advantages such as reduced pain due to smaller incisions, less bleeding, and needs shorter recovery time.

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Competitive Landscape :

The laparoscopic devices market comprises of various market players such as Intuitive Surgical, Inc., Stryker Corporation, TransEnterix Inc., Olympus Corporation, Karl Storz GmbH & CO. KG, Medtronic PLC, Microline Surgical, Inc., B. Braun Melsungen AG, SCHOLLY Fiberoptic GmbH, Optomic, Victor Medical Instruments Co., Ltd, LIVSMED, Peters Surgical, EndoMed Systems GmbH, Becton, Dickinson and Company, Mindray Medical International Limited, CONMED Corporation, Richard Wolf GmbH, Smith & Nephew PLC, Cook Medical, Ethicon, Strauss Surgical and AMNOTEC International Medical. Strategic alliances, acquisitions and innovations along with various R&D activities are key strategies used by the market players to maintain their dominance in the market. For instance, in January 2020, TransEnterix, Inc. announced the Company filed a 510(k) submission with an Intelligent Surgical Unit (ISUTM)1 that is designed to enable machine vision capabilities on the Senhance Surgical System. The initial function of the Intelligent Surgical Unit (ISU) is designed to increase visualization control beyond functions previously available in digital laparoscopy or robotic surgery. Also, in August 2019, LIVSMED developed ArtiSential articulated laparoscopic devices. This device articulated laparoscopic instrument series and was designed to provide users with fully articulated wrist movement during laparoscopic surgery.

Market Dynamics and Trends:

The introduction of laparoscopic technology has completely changed the world of surgery through the gradual evolution from open surgical procedures to minimally invasive surgery. The increasing adoption of minimally invasive surgery (MIS) is mainly driving the growth of the market. Also, the new advancement in surgical technology and the increasing number of gynaecological and urological operations are few other factors driving the growth of the laparoscopic devices market. Moreover, these devices are widely preferred by physicians as well as surgeons due to the high level of precision provided by laparoscopic devices. Furthermore, rise in metabolic & bariatric surgeries executed globally in order to lessen weight, accelerates the laparoscopic devices market growth. According to the data published by the American Society for Metabolic & Bariatric Surgery (ASMBS), in 2019, the total number of bariatric surgeries performed in America alone were 256,000.

However, high cost of these devices and rising preference for robotic surgeries are factors expected to hamper the market growth to some extent. On the other hand, development of innovative laparoscopic devices and growing healthcare markets in emerging economies such as Brazil, Russia, India, China, and South Africa are expected to create lucrative opportunities for the market players in the coming years.

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Market Segmentations and Scope of the Study:

The laparoscopic device market is segmented on the basis of product, application, end user and geography. Based on product, the laparoscopy devices market can be categorized into medical laparoscopic robots, laparoscopes, energy devices, hand instruments, closure devices, access devices, accessories, insufflators, and suction pumps. Based on application, the laparoscopy device can be categorized into general surgery, gynaecological surgery, colorectal surgery, bariatric surgery, urological surgery and pediatric surgery. Based on end user, the laparoscopy device market can be categorized into hospitals and ambulatory surgical centers. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia Pacific, and Rest of the World.

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