Laparoscopy Market Was Valued at USD 11,547.3 million in 2021, Increase in Adoption of Laparoscopy Surgery

According to Precision Business Insights (PBI), the latest report the global Laparoscopy market is expected to be worth USD 11,547.3 million in 2021 and projected to grow at a 5.8% CAGR over 2022 to 2028. The increasing demand for less invasive operations is expected to benefit the sector throughout the review period. Growing awareness of minimally invasive operations is expected to enhance adoption, which is expected to be a critical element in driving market expansion over the forecat timeframe. Furthermore, increased financing and favourable policies supplied by various governments are expected to greatly boost the industry. Furthermore, the growing elderly population is expected to be a significant driver supporting market development in the future.

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The Laparoscopes Segment is Dominating the Laparoscopy Market:
The laparoscopes segment is expected to account for a larger revenue share and the market is expected to grow at double digit growth rate over the forecast years owing to increase use of laparoscopic procedures in the surgical treatment of benign and malignant entities is becoming more common, resulting in a constant evolution of operative techniques. Because one of the goals of laparoscopic colorectal surgery is to limit access trauma, one option is to use the single-incision laparoscopic surgery (SLS) approach to further reduce the surgical site. In the last few years, laparoscopic techniques, and the reduction of incisional trauma in colon surgery have advanced fast. Single-incision laparoscopic surgery, which evolved from the natural orifice surgical method, has established itself as a minimally invasive platform. If the newly created access platforms are used, the SLS can be performed using standard straight laparoscopic instruments.

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North America Leads Laparoscopy Market:
North America is expected to hold significant market share in the global Laparoscopy market and is projected to grow at a prominent growth rate over the forecast years owing to the increased incidence of chronic diseases, as well as the increasing acceptance of non-invasive or minimally invasive surgical procedures are driving the growth of the North America laparoscopy devices marke. Furthermore, the presence of major industry players is paving the way for the growth of the region's laparoscopic devices market.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Laparoscopy market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In 2021, Olympus Corporation launched the SIF-H190 single-balloon enteroscopy solution to reach deep into the small intestine.

Detailed Segmentation
Based on the Product Type, the market is segmented into the following:
• Laparoscopes
• Energy devices
• Insufflators
• Suction/ Irrigation Systems
• Closure Devices
• Hand Instruments
• Access devices
• Accessories

Based on the Application, the market is segmented into the following:
• Gynaecological Surgery
• General Surgery
• Urological Surgery
• Colorectal Surgery
• Bariatric Surgery
• Paediatric Surgery

Based on the End User, the market is segmented into the following:
• Hospitals
• Clinics
• Ambulatory Surgical Centers [ASC]

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Key player's profiles in the Laparoscopy market report are Intuitive Surgical (US), Stryker Corporation (US), Olympus Corporation (Japan), Karl Storz GmbH & CO. KG (Germany), Medtronic PLC (Ireland), Microcline Surgical, Inc. (US), B. Braun Melsungen AG (Germany), SCHÖLLY Fiberoptic GmbH (Germany), Optomic (Spain), Victor Medical Instruments Co., Ltd (China), Peters Surgical (France).

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