Laparoscopic Instruments Market Driven By High-Tech Advancements, Usage For Treating Colorectal Cancers & Obesity Till 2021 | Million Insights
Factors propelling the global market growth includes increasing demand for laparoscopic instruments owing to the rise in physician and patient inclination towards minimally invasive procedures, mainly laparoscopic procedures.
In addition, other factors such as increase in the geriatric population, rising occurrences of colorectal cancers and obesity and related disorders that can be treated with laparoscopic procedures. Also, high-tech advancements in laparoscopic instruments have boosted the growth and demand for laparoscopic instruments worldwide. On the basis of product, the market research report is classified as laparoscopes, energy devices, access devices, closure devices, accessories, fiber laparoscopes, video laparoscopes, insufflators, suction/irrigation systems and hand instruments.
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Among the products, the energy devices segment is projected to account for a major share of the global market. The key factor that fuels the growth of this segment is due to the high-tech advancements introduced in these products by market players. On the basis of application, the market research report is classified as bariatric surgery, general surgery, gynaecological surgery, urological surgery, colorectal surgery and paediatric surgery.
Among the applications, the gynaecological surgery instruments segment is projected to account for the major share of the global market. The key factor that drives the growth of this segment is due to laparoscopy being extensively used in obstetrics and gynaecology, especially in processes such as amnioscopy, hysterectomy, hysteroscopy, myomectomy, fetoscopy, and ovarian cyst removal, among others.
On the basis of end user, the market research report is classified as hospitals and ambulatory surgical centers.Among the end users, the hospitals segment is projected to account for a major share of the global market. As hospitals have a preference for laparoscopic procedures to open surgical procedures as it provides benefits such as reduced costs, decreased average length of stay (ALOS) of patients, and improved patient satisfaction. As a result, hospitals are presently the largest end user segment of the laparoscopic instruments market.
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On the basis of geography, the Laparoscopic Instruments market is classified as North America, Europe, Asia Pacific and Rest of the World. The North American region consists of the U.S. and Canada. The European region consists of Germany, England, France and Rest of Europe. Asia-Pacific region consists of Japan, China, India and Rest of Asia-Pacific. Rest of the World (RoW) consists of Latin America and Middle East and Africa.
In case of geographical region, North America is projected to hold for the largest share of the Laparoscopic Instruments market. The North American region is followed by Europe. On the other hand, the Asia Pacific market is expected to grow at the highest rate during the forecast period. The major factors that drive the growth is owed to the entry of key market players into this market and developing infrastructure support for laparoscopic procedures in India, South Korea, and Singapore.
Some of the prominent players that fuel the growth of the Laparoscopic Instruments market include Ethicon, Inc., Olympus Corporation, Karl Storz GmbH &Co.Kg, Stryker Corporation, Richard Wolf GmbH, Microline Surgical, Inc., Smith & Nephew PLC, Medtronic PLC, Cook Medical Inc. and Conmed Corporation.
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