Laparoscopy Devices Market Offering Trends, Share, Size, Growth Until the End of 2030

Risk of Aerosolization of Coronavirus May Hamper Market Growth

The laparoscopy devices market is projected to experience a slowdown during the COVID-19 outbreak, as minimally invasive surgical procedures carry the risk of aerosolization of blood-borne viruses. The SAGE (Scientific Advisory Group for Emergencies) and the EAES (European Association for Endoscopic Surgeons) have recommended patients to postpone their surgeries if not urgent due to the ongoing coronavirus outbreak.

SAGE and EAES have laid down guidelines of laparoscopic or robotic protective measures to be strictly employed for staff and patient safety. Due to the risk of contracting COVID-19, many patients have postponed their surgical procedures, which is anticipated to impact the revenue growth of the laparoscopy devices market.

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Lack of High Quality Data Inhibits Adoption of Robot-assisted Laparoscopy

Surgical robots are being designed to address the limitations of conventional laparoscopy procedures. FDA (Food and Drug Administration)-approved da Vinci robots are becoming increasingly commonplace in the gynecologic surgery. However, training requirements and lack of high quality data act as barriers in the rapid adoption of robot-assisted laparoscopy, thus inhibiting the growth of the laparoscopy devices market. As such, less postoperative pain and shorter hospital stays are offsetting its disadvantages and increasing its adoption in healthcare settings.

The proliferation of the 5G communication technology for robot-assisted surgery in China's laparoscopy devices market is creating value-grab opportunities. Due to the lack of evidence about its efficacy, stability, and safety, researchers are adopting swine models to investigate the effectiveness of 5G ultra-remote robot-assisted laparoscopic surgeries.

Space-saving Robotic Laparoscopy Devices Gain Prominence in Urology Surgeries

Minimally invasive surgeries are linked to improved patient outcomes and accelerating recovery times. However, operating through tiny incisions with the use of complicated equipment can be tricky for surgeons. Hence, France-based startup, MastOR, is increasing efforts to revolutionize laparoscopy assistance platforms with the help of robotic arms. As such, there is a growing demand for space-saving laparoscopy devices that can be integrated into existing equipment rather than being used as a standalone system.

Startups in the laparoscopy devices market are attracting funding from governments, healthcare associations, and investors to innovate in robotic technologies. Several million patients undergoing minimally invasive surgeries in thoracic, urology, and gynecological fields are catalyzing the demand for robotic laparoscopy devices. Since the learning curve and training period for conventional devices is long, healthcare startups in the laparoscopy devices market are increasing their R&D muscle in robotic laparoscopy devices.

High Precision Laparoscopy Trocars and Endoscopes Improve Clinical Outcomes

The laparoscopy devices market is anticipated to cross a valuation of US$ 16.4 Bn by 2030. This signals that manufacturers are developing instruments that draw small incisions and enable fast recovery. For instance, Aesculap, Inc.- a specialist in delivering precision surgical instruments, is increasing its portfolio in minimally invasive laparoscopy devices that facilitate fast recovery. Manufacturers are collaborating with researchers to develop high precision instruments, such as ligation clip appliers, trocars, and endoscopes to improve clinical outcomes.

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Companies in the laparoscopy devices market are developing reusable instruments that are suitable for complex minimally invasive procedures.

Revolutionary Ergonomic Handle Designs in Needle Holders Boosting Global Market

Reusable, reposable, and single use advanced energy solutions are becoming increasingly available in modular configurations. Companies in the laparoscopy devices market are increasing their focus on unique designs of instruments to allow complete disassembly for effective cleaning and decontamination. They are manufacturing slide-lock graspers to provide the highest level of tissue grasping properties in instruments. Apart from graspers, manufacturers are increasing their production capacities in vascular clamps meant for advanced laparoscopic urological procedures.

Revolutionary ergonomic handle designs in needle holders are being preferred by surgeons. This explains why the laparoscopy devices market is estimated to advance at a favorable CAGR of 6.5% during the forecast period.

Laparoscopy Devices Market: Overview

According to Transparency Market Research's latest research report on the global laparoscopy devices market for the historical period (2018-2019) and the forecast period (2020-2030), increase in incidence of target conditions for laparoscopic surgery is projected to drive the global laparoscopy devices market in the near future

According to the report, the global laparoscopy devices market was valued at US$ 8.5 Bn in 2019 and is anticipated to expand at a CAGR of 6.5% from 2020 to 2030

Increase in Number of Minimally Invasive Surgical Procedures Performed: Key Driver of Laparoscopy Devices Market

Minimally invasive surgery offers a higher accuracy rate compared to traditional open surgery. A significant benefit of minimally invasive surgery is the size of incision. Minimally invasive surgery relies on tiny incisions for the insertion of thin tubes, fiber-optic lights, cameras, and other small surgical tools.

Surgery with laparoscopy devices has been a highly preferred method of treatment in the past few years among healthcare providers across the world

A study conducted at the Johns Hopkins University School of Medicine in Maryland, the U.S., concluded that urban hospitals were performing laparoscopic appendectomies four times more than rural hospitals, and were likely performing 15 times more minimally invasive hysterectomies than rural hospitals

According to the American Congress of Obstetricians and Gynecologists (ACOG), the rate of minimally invasive hysterectomy procedures conducted in the U.S. increased from an estimated 14% in 2004 to 53% in 2013

Initiation of robot-assisted surgery could be a key factor driving the number of laparoscopic surgeries performed for different surgeries such as prostatectomy, cancer, hernia repair, and colorectal cancer

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According to the American Society of Plastic Surgeons, an estimated 20 million surgical procedures were performed across the world in 2014, and 52% of these were minimally invasive surgeries

Increase in the number of laparoscopic surgeries performed every year is expected to drive the demand for and subsequent consumption of laparoscopy devices in the global market. This, in turn, is expected to propel the global laparoscopy devices market during the forecast period.

Accuracy of minimally invasive procedures improved due to the use of camera, enabling a surgeon to have better visualization of internal organs. Awareness among people about the positive effects of adoption of minimally invasive surgery has helped in the propagation of this technique.

These factors are projected to drive the global laparoscopy devices market during the forecast period

Rise in Number of Gynecological, Urological, and Cardiac Surgery Procedures: Key Driver of Laparoscopy Devices Market

According to the World Health Organization, 234.2 million major surgical procedures are undertaken every year globally. Surgical services have long been recognized to be essential expensive component of the public health system. Surgery is likely to assume an increasing role in public health due to this epidemiological transition.

A large population suffers from diseases related to gynecological, urological, and cardiology, which, in turn, increases the number of surgical procedures

This factor is expected to propel the demand for laparoscopy devices during the forecast period

Laparoscopy Devices Market: Competition Landscape

This report profiles major players operating in the global laparoscopy devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments

The global laparoscopy devices market is moderately fragmented, with the presence of a small number of leading players in the international market and several small players in regional markets. The top players hold major share of the global laparoscopy devices market.

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Prominent players operating in the global laparoscopy devices market include

Ethicon US

LLC (Johnson & Johnson)

CONMED Corporation

Medtronic

Aesculap, Inc. (B. Braun company)

Fujifilm Holding Corporation

Smith & Nephew

Stryker

KARL STORZ

Olympus Corporation

Richard Wolf GmbH

Cook Medical, Inc.

Boston Scientific Corporation

The report on the global laparoscopy devices market discusses individual strategies, followed by company profiles of manufacturers of laparoscopy devices. The competition landscape section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global laparoscopy devices market.

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