Laparoscopy Devices Market is Expected to Exhibit a Strong CAGR during forecast period upto 2023

 Market Highlights

The Global Laparoscopy Devices Market Is Estimated To Be Valued At USD 17,206.32 Million By 2023 And Expected To Grow At A CAGR Of 8.30% During The Forecast Period.

Laparoscopy devices are used in surgical procedures that permit a surgeon to access the inside of the abdomen and pelvis without having to make large incisions in the skin. This laparoscopic surgical procedure is also known as keyhole surgery or minimally invasive surgery. Laparoscopy devices capture images in the stomach, small intestine, and pelvic system which are utilized for the diagnosis of various intestinal, gynecological, and urological diseases.

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The demand for laparoscopic surgical procedures is rising due to major benefits associated with these surgeries such as small or no incision, short hospital stays, less pain, quick recovery time, less scarring, and reduction in blood loss.   

Market Research Future (MRFR) recognizes the following companies as the key players in the global laparoscopy devices market that includes:  Becton, Dickinson and Company (US), Smith & Nephew PLC (UK), B. Braun Melsungen AG (Germany), Medtronic PLC (US), Cook Medical LLC (US), Fujifilm Holdings Corporation (Japan), Olympus Corporation (Japan), Stryker Corporation (US), KARL STORZ SE & Co. KG (Germany), Richard Wolf GmbH (Germany), and others.

Segment analysis

Global laparoscopy devices market has been segmented on the basis of product, application, and end user. On the basis of product, the global laparoscopy devices market has been segmented into laparoscopes, energy devices, insufflation devices, suction/irrigation devices, handheld instruments, access devices, trocars, internal closure devices, and others. A laparoscope is a leading segment, which is growing at the highest CAGR to reach USD 5091.77 million by the end of 2023.

Based on application, the global laparoscopy devices market has been segmented into general surgery, bariatric surgery, gynecological surgery, urological surgery, colorectal surgery, and others. The general surgery segment accounts for a major share with 7.79% CAGR during the forecast period. On the basis of end user, the global laparoscopy devices market has been segmented into ambulatory centers, hospitals and clinics, and specialty centers. The hospitals & clinics segment accounted for a considerable market share of 38.11% as of 2017.

Regional Analysis

Geographically, the global laparoscopy devices market is segmented into North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. As per MRFR analysis, The Americas acquired the largest share in the market owing to its high GDP per capita income and the rising geriatric population which is highly prone to degenerative diseases and chronic illnesses, causing an increased need for diagnosis and therapeutics. For instance, according to the US Census Bureau, in 2016, around 49.2 million residents were aged 65 and above. For instance, according to the US Census Bureau, in 2016, around 49.2 million residents were aged 65 and above. The European market is expected to register a second largest market share during the forecast period due to major driving factors such as rising patient population of cancer, increasing research on laparoscopy advancements, availability of advanced treatment facilities, increasing healthcare expenditure, and introduction of advanced and integrated monitoring devices into the market along with the presence of a good healthcare infrastructure. Asia-Pacific is the fastest growing market for laparoscopy devices. The Asia-Pacific laparoscopy devices market is expected to reach USD 4205.58 million by the end of 2023. It is attributed to the huge patient population and rapid development in technology. Also, the government of this region is looking forward to availing better treatment options from developed nations to improve the quality of life of their citizens. The laparoscopy devices market in the Middle East and Africa is divided into two regions, namely, the Middle East and Africa. Africa holds the least share of the market due to poor political conditions in Africa and the limited availability of funds and medical facilities.

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