Global Laparoscopy Devices Market: Primarily Driven by Rising Number of Laparoscopic Surgeries Performed Globally

SAN FRANCISCO, Mar. 15, 2018 According to the latest report published by Variant Market Research, the global laparoscopy devices market size was valued at $9.8 Billion in 2016 and is estimated to reach $17.7 Billion by 2024. In this report, the global Laparoscopy Devices Market forecast says that the global market is growing at a CAGR of 7.6% from 2016 to 2024.

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Incessant technological advancements in laparoscopes fuels the global laparoscopy devices market

The major laparoscopy devices market trend are continuous technological advancements in energy devices and laparoscopes and rising number of laparoscopic surgeries performed globally owing to surging demand of minimally invasive surgical techniques. Additionally, increasing geriatric population, and growing occurrence of colorectal cancer and obesity are also supporting the growth of the market. However, lack of trained professionals for these procedures is the restrain that would hamper the market growth. Further, increasing acceptance of robot-assisted laparoscopic surgeries and overview of innovative laparoscopic devices would unfold attractive business opportunities.

Market Segmentation

The major segments considered in the global laparoscopy devices market are product, application, end-user and geography. Product segment is classified into laparoscopic adjustable gastric band (LAGB), laparoscopes female sterilization devices, insufflation devices, suction/irrigation devices, hand held instruments, access devices, internal closure devices and direct energy devices. Application segment comprises gynecological surgery, general surgery, bariatric surgery, colorectal surgery, urological surgery, and other applications. Further, the end-user segment is bifurcated into clinics, hospitals, and other end-users.

By geography, the global laparoscopy devices market has been segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe covers Russia Italy, Germany, UK, and Rest of Europe. Asia-Pacific is categorized into Japan, China, India, south Korea and Rest of Asia-Pacific, while Rest of the World is bifurcated into Middle East, South America, and Africa.

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Direct Energy Devices contributed for the largest market share in the product type segment

Direct energy devices segment is projected to account for the foremost share of the laparoscopic devices market in the year 2016 driven by the advancement in technology presented in these products by major key players.

General surgery, by application segment led the maximum market share in 2016

General surgery occupied the major market share in 2016, in the application segment, driven by its wide usage in surgeries such as cholecystectomies, hernia repairs antireflux surgeries and appendectomies.

Hospitals dominated the primary share in the end-user segment in 2016
In the end-user segment, hospitals segment occupied the maximum share in 2016, attributed to increase in demand for minimal invasive surgeries (MIS) and upsurge in governmental initiatives to advance the healthcare facilities.
North America dominated the leading share in the global laparoscopy devices market

In the year 2016, North America generated the highest revenue accounting for 36% of the global laparoscopy devices market share. In terms of growth, Asia-Pacific is likely to grow with fastest CAGR of 8% throughout the forecast period 2016 – 2024, owing to the development in healthcare amenities, rapid emerging economic circumstances, obtainable disposable income. Moreover, countries like Jamaica, South Africa, Trinidad & Tobago, Mauritius, and Ireland are witnessing a high demand in the laparoscopy devices market.

Competitive Landscape

Key players profiled in the report include ConMed Corporation, Smith & Nephew PLC, Stryker Corporation, Olympus Corporation, Karl Storz GmbH & Co.KG, B. Braun Aesculap, Richard Wolf GMBH, Cook Medical Incorporated, Medtronic plc and Ethicon, Inc. among others.

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Scope of the Global Laparoscopy market
Product Segments
• Female Sterilization Devices
• Laparoscopes
• Insufflation Devices
• Suction/Irrigation Devices
• Laparoscopic Adjustable Gastric Band (LAGB)
• Hand Held Instruments
• Access Devices
• Direct Energy Devices
• Internal Closure Devices

Application Segments
• General Surgery
• Bariatric Surgery
• Gynecological Surgery
• Urological Surgery
• Colorectal Surgery
• Other Applications

End-User Segments
• Hospitals
• Clinics
• Other End users

Geographical Segments:
• North America
o U.S.
o Canada
o Mexico

• Europe
o UK
o Russia
o Germany
o France
o Italy
o Others

• Asia Pacific
o India
o China
o Japan
o South Korea
o Others

• RoW
o South America
o Middle East
o Africa

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