Laparoscopic Devices Market Projected to Witness Vigorous Expansion by 2025
The global laparoscopic devices market is segmented on the basis of product type, therapeutic application, end-use and region. On the basis of product type, the market has been segmented into direct energy system devices, internal closure devices, trocars, insufflation devices, hand access instruments, robotic assisted surgical systems and laparoscopes. Direct energy system devices product segment is expected to register impressive CAGR of 7.6% during the forecast period. On the basis of therapeutic application, the market is segmented into bariatric surgery, colorectal surgery, general surgery, gynecological surgery and urological surgery. Bariatric surgery is expected to dominate the overall laparoscopic devices market throughout the forecast period. It is expected to witness 1.9X increase in revenue over the forecast period. On the basis of end use, the global laparoscopic devices market is segmented into hospitals, clinics and ambulatory surgical centers. In terms of end-use, the ambulatory surgical centers segment is expected to witness fastest growth during the forecast period.
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Government initiatives to offer better healthcare amenities coupled with increasing healthcare FDI influx is boosting overall demand for laparoscopic devices worldwide. Moreover, over the last few years, there has been significant growth in the number of skilled laparoscopic surgeons in developing regions, but at a comparatively slower pace compared to that in developed regions. Furthermore, demand for minimally invasive therapies is expected to offer momentum to overall sales of laparoscopic devices worldwide. Over the last few years, bariatric surgery procedures have increased worldwide due to increasing demand for obesity treatment. According to World Obesity Federation, obesity rate is predominantly higher in developed regions than in developing regions. This has led to increase in demand for bariatric surgery. Majority of the demand is coming for minimally invasive therapies that are safer than conventional surgical procedures. As per the American Society for Metabolic and Bariatric Surgery (ASMBS), the number of bariatric surgeries increases 5% to 6% each year. In tandem, sales of laparoscopic devices have also increased worldwide.
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This report covers trends driving growth of each segment and offers analysis and insights of the potential opportunities offered in the laparoscopic devices in all regions of the world. North America is expected to dominate the market 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. For instance, Olympus entered into this product segment in 2012 and since then has been investing significantly on product promotion in the market in North America. In terms of value, Western Europe follows North America. Increasing adoption of laparoscopic devices in Western Europe is marked by high rate of gastric and bypass surgeries performed in Sweden and Germany. As per independent estimates, in 2014, Germany witnessed 30% increase in gastric, bypass surgery procedures. Rise in demand for minimally invasive therapies in Western Europe is expected to boost growth of the bariatric surgery therapeutic application segment over the forecast period.
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.
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