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Suture Laparoscopic Forceps Market Report 2024 - Suture Laparoscopic Forceps Market Demand And Size
Suture Laparoscopic Forceps Market
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According to The Business Research Company's, The suture laparoscopic forceps market size has grown strongly in recent years. It will grow from $2.12 billion in 2023 to $2.26 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to an increasing number of laparoscopic surgeries, rising demand for laparoscopic surgeries, increasing adoption of laparoscopic procedures, a growing number of surgeries, and growing demand for minimally invasive procedures.
The suture laparoscopic forceps market size is expected to see strong growth in the next few years. It will grow to $2.89 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to an increase in preference for minimally invasive surgeries among healthcare professionals and patients, increasing demand for suture laparoscopic forceps, increasing consumer awareness, increase in the incidence of target conditions for laparoscopic surgery, increase number of minimally invasive surgical procedures. Major trends in the forecast period include innovations in the design of forceps, technological advancements, major collaborations, mergers and acquisitions, expansion of healthcare infrastructure, and a surge in outpatient surgeries.
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Market Drivers and Trends:
The growing number of surgeries is expected to propel the growth of the suture laparoscopic forceps market going forward. The growth in surgeries is driven by advancements in medical technology, including minimally invasive techniques such as laparoscopy, which offer faster recovery times, reduced hospital stays, and improved patient outcomes compared to traditional open surgeries. Suture laparoscopic forceps are used in surgeries to manipulate and place sutures precisely within the body, reducing tissue trauma and promoting faster recovery. For instance, in May 2024, according to the Government of British Columbia, a Canada-based administrative body, there were 365,825 surgeries completed, both scheduled and unscheduled. This includes 284,844 scheduled surgeries, which is 24,380 more than in the same timeframe in 2019-20. Additionally, the total number of surgeries, both scheduled and unscheduled, is 14,939 more than in 2022-23. Therefore, a growing number of surgeries is driving the growth of the suture laparoscopic forceps market.
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Major Key Players of the Market:
Johnson & Johnson, Medtronic plc, Stryker Corporation, Boston Scientific Corporation, Olympus Corporation, B. Braun Medical Ltd, Teleflex Incorporated, ConMed Corporation, Applied Medical Resources Corporation, Ackermann Instrumente GmbH, Zhejiang Geyi Medical Instrument Co. Ltd, Sklar Instruments, Purple Surgical International Ltd., Mediflex, Microline Surgical Inc., LaproSurge Ltd., Maxer Endoscopy GmbH, Victor Medical Instruments Co. Ltd., Hospiinz International, Grena Ltd.
Suture Laparoscopic Forceps Market 2024 Key Insights:
• The suture laparoscopic forceps market size is expected to see strong growth in the next few years. It will grow to $2.89 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
• The Increasing Number Of Surgeries Fuels Growth In The Suture Laparoscopic Forceps Market
• North America was the largest region in the suture laparoscopic forceps market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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