Laparoscopic Devices Market Size to Rise at a CAGR of 7.3% by 2025
Increasing Preference For Minimally Invasive Procedures Supports The Growth Of The Global Laparoscopic Devices Market And Is Expected To Grow At A CAGR Of 7.3%
[USPRwire, Mon Apr 01 2019] The global laparoscopic devices market analysis consists of value for a period ranging between 2015 to 2025, where 2015 to 2017 imply the actual annual revenue with forecast between 2018 and 2025. The global laparoscopic devices report also includes qualitative insights of the market such as drivers, restrains, value chain, regulatory framework and trade statistics. The value chain has been analyzed in detail covering key stages
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Changing lifestyle and urbanization have led to an increase in diseases such as chronic diseases, obesity, and others. Changing lifestyle have triggered unhealthy habits, which has resulted in an increase in the overall obesity rate. About 1/3rd of the global population is overweight and about 1 in every 10 persons is obese. According to the World Health Organizations estimates, around 2.3 billion people are obese and this number is expected to increase in near future. Thus, increasing obese population triggers the demand for surgical procedures that utilizes minimally invasive devices.
With increasing demand for minimally invasive surgeries would support the growth of the global laparoscopic devices market. Minimally invasive surgery devices market is expected to witness a high growth owing to shorter hospital stay and increased patient comfort in minimally invasive surgery compared to the traditional surgeries. In addition, technological advancements and rising healthcare awareness among the patient population for minimally invasive surgeries would support the growth of the global laparoscopic devices market. However, high cost of the devices is one of the factor that restricts the growth of the market to some extent during the forecast period. Smaller surgical incisions in MIS require equipment that have high precision and strength, and are lightweight. Hence, materials such as platinum, titanium, cobalt, and plastics such as ultem, radel, and polyetheretherketone are used to manufacture these devices such as surgical devices. As platinum is more expensive than other materials available, it adds to the overall cost of equipment.
By Application, in 2017 gynecological surgery dominated the global laparoscopic application devices market with a share of 30% and is expected to reain its dominance during the forecast period. Majority of the gynecological procedures can be performed with minimal incision, such as treatment of ovarian cysts, endometriosis, and adhesions. However, bariatric surgery is expected to grow at the highest CAGR during the forecast period. There are about 2.4 million obese people in the U.S. Increasing obesity is a cause of several medical disorders such as hypertension, high cholesterol, cardiovascular diseases, and diabetes. It is one the leading causes of premature death, due to which weight reduction operations such as laparoscopic surgeries for gastric banding, gastric bypass, and other variants of stomach surgeries see an increase in demand. Thus, the above mentioned factors collectively support the growth of the bariatric surgery application segment.
Geographically, in 2017 North America dominated the global laparoscopic devices market due to increasing new product launch and technological advancements and majority of the key players are domiciled in the region. Asia-Pacific is been identified as the most lucrative market for the growth of the laparoscopic devices market.
Some of the key players opearting in the global laparoscopic devices market are B. Braun Aesculap, Karl Storz, Medtronic plc, Olympus Corporation, Richard Wolf, Ethicon, Inc., Stryker Corporation, Cook Medical Inc., Smith & Nephew, ConMed Corporation and others.
Key segments of the global laparoscopic devices market
Device Type Overview, 2015-2025 (USD million)
- Energy Devices
- Insufflator Devices
- Robot-Assisted Surgery Devices
- Suction Devices
- Closure Devices
- Hand Instruments
- Access Devices
Application Type Overview, 2015-2025 (USD million)
- General Surgery
- Bariatric Surgery
- Gynecological Surgery
- Urological Surgery
- Colorectal Surgery
Regional Overview, 2015-2025 (USD million)
- North America
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Asia Pacific
- South America, Middle-East & Africa
- Saudi Arabia
- South Africa
- Rest of the World
Some Points from TOC:
- Executive Summary
- Research Methodology
- Market Outlook
- Laparoscopic Devices Market, by Devices
- Laparoscopic Devices Market, by Application
- Laparoscopic Devices Market, by Region
- Company Profiles
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