Laparoscopic Devices Market Revenue Increase US$ 14,844.9 Mn by 2025

Introduction

Laparoscopy is a minimally invasive surgical technique performed through a keyhole incision. A small camera along with a light source attached to a flexible tube enables surgeons to maneuver special laparoscopic devices to the target area and carry out surgical procedures. This technique is mainly preferred for surgeries related to the pancreas, liver, colon and bile duct. The global laparoscopic devices are witnessing increasing adoption among healthcare practitioners across globe. As the trend is shifting largely towards developing regions, laparoscopic devices market is witnessing impressive growth in Asia Pacific excluding Japan and Latin America; however, majority of revenue continues to come in from developed regions of the world.

Market Value Forecast

The global laparoscopic devices market has been estimated to be valued at US$ 7,916.5 Mn in 2015 and is expected to expand at a CAGR of 6.5% over the forecast period (2015–2025).

Market Dynamics

Growth of the global laparoscopic devices market is mainly driven by rising private and foreign investments as well as adoption of subscription commerce-based model for product selling. Due to intense competition, manufacturers of laparoscopic devices are reducing prices of their products to remain competitive in the market. Companies are adopting subscription commerce-based marketing models to sell laparoscopic devices. Under this scheme, companies provide costly and sophisticated medical devices on pay-per use basis. This helps end-users to use these costly devices at cheaper rates, which in turn is helping companies to expand their market footprint worldwide. Furthermore, increasing demand for minimally invasive therapies, especially for obesity-related instances is bolstering demand for laparoscopic devices from various end-use sectors.

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Though the global laparoscopic devices market is expected to witness impressive growth over the forecast period, high cost of laparoscopic devices along with lack of skilled surgeons are factors expected to hamper market growth over the forecast period.

Segmentation by Product

The global laparoscopic devices market is segmented on the basis of product type into direct energy systems, trocars/access devices, internal closure devices, laparoscopes, hand access instruments, insufflation devices, and robotic assisted surgical system. In terms of value, direct energy system devices segment has been estimated to account for 30.7% share of the global laparoscopic devices market by 2015 end, and is projected to register a healthy CAGR of 7.5% in terms of value over the forecast period.

laparoscopic-devices-market

Internal closure devices segment is expected to witness a growth rate of 6.3% during the forecast period. This growth is mainly attributed to relatively less time for the suturing process as compared to the conventional approach.

Segmentation by Therapeutic Application

By therapeutic application, the global laparoscopic devices market is segmented into general surgery, colorectal surgery, bariatric surgery, gynecological surgery and urological surgery. Among therapeutic application segments, bariatric surgery and colorectal surgery are expected to witness impressive growth during the forecast period.

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Segmentation by End-use

By end-use, the global laparoscopic devices market is segmented into hospitals, clinics and ambulatory surgical centers. Hospital end-use segmented is expected to dominate the overall laparoscopic devices market throughout the forecast period.

Key Regions

The global laparoscopic devices market has been segmented on the basis of regions into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia Pacific excluding Japan (APEJ) and Japan.

In terms of market value, of all the regions, North America is projected to dominate the global laparoscopic devices market in terms of revenue share throughout the forecast period. Foray of leading North American companies into the direct energy system devices market over the last few years is a factor expected to boost overall sales of these devices in the region. APEJ is expected to witness significant growth during the forecast period. Significant investments in healthcare infrastructure, increasing geriatrics population and rise in abdominal disorders in APEJ are factors expected to boost revenue growth of the laparoscopic devices market in the region.

Key Players

Key players in the global laparoscopic devices market include Ethicon US LLC, Olympus Corporation, B. Braun Melsungen AG, Intuitive Surgical, Inc., Medtronic Inc., and Smith & Nephew.

A large number of players operating in the laparoscopic devices market are focused on entering into collaborations and partnerships with local distributors and retailers in order to enhance their market presence globally. Moreover, it also enables companies to increase product visibility across the region. Companies are focusing on instilling competitive capabilities to strengthen their market presence worldwide.

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This release was published on openPR.