Global Laparoscopic Devices Market By Product (Laparoscopes, Energy Systems, Trocars, Closure Devices, Robot Assisted Systems, Hand Access Instruments and Other Products) By Application (Bariatric Surgery, Urological Surgery, Gynecological Surgery, General Surgery, Colorectal Surgery and Other Surgeries) By End-user (Hospital, Clinic and Ambulatory) By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033
- Published date: Nov 2023
- Report ID: 22542
- Number of Pages: 211
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Market Overview
The Global Laparoscopic Devices Market size is expected to be worth around USD 17.2 billion by 2032, from USD 8.5 billion in 2023, growing at a CAGR of 19% during the forecast period from 2024 to 2033.
Laparoscopic devices are instruments used in minimally invasive laparoscopic surgery, which involves making small incisions in the abdominal wall. These devices include a laparoscope (a slender tool with a tiny video camera and light on the end), surgical instruments such as forceps, scissors, probes, dissectors, hooks, and retractors, as well as other equipment like endoscopes, cameras, light sources, video monitors, insufflators, and trocars.
The global market for laparoscopic devices is experiencing significant growth, primarily driven by the rising incidence of morbid obesity worldwide. This increase in obesity rates has led to a higher demand for bariatric surgeries, which are commonly performed using laparoscopic techniques. According to the American Society for Metabolic & Bariatric Surgery (ASMBS), the number of bariatric surgeries in the United States reached 252,000 in 2018. This trend is a key factor propelling the growth of the laparoscopy market.
Government policies and reimbursement schemes in certain countries are also boosting the market. The expansion of energy systems in laparoscopic devices is making them more accessible and affordable, further expanding their applications in surgeries like gastric bypass and sleeve gastrectomy.
Collaborations and strategic sourcing are also shaping the market. A notable example is the August 2020 partnership between B. Braun Medical and Kerma Medical Products, focusing on product development and diversity programs targeting veterans, minorities, and other underserved communities. This collaboration is expected to positively impact the market.
Product Analysis
In 2023, the segment of Energy Systems within the laparoscopic devices market held a dominant position, capturing more than a 23.1% share. This prominence is attributed to the vital role these systems play in surgeries, offering precision and efficiency. The demand for these systems is driven by their ability to reduce operation times and improve surgical outcomes.
Laparoscopes, another significant segment, are essential for providing visual access inside the patient’s body during surgery. Their demand is fueled by continuous technological advancements that enhance image quality and surgical accuracy, making them indispensable in modern laparoscopic procedures.
Trocars have also carved a niche in the market. These devices are crucial for safe and effective access to the abdominal cavity. Their market growth is propelled by innovations that focus on reducing post-operative complications and enhancing patient safety.
Closure Devices form an essential part of the laparoscopic surgery toolkit. Their market growth is driven by the need for secure wound closure post-surgery, with an emphasis on reducing infection risks and promoting faster healing.
Robot Assisted Systems represent a rapidly growing segment. The integration of robotics in laparoscopy elevates precision and flexibility, thereby gaining favor among surgeons. This segment’s growth is bolstered by technological advancements and increasing acceptance in complex surgical procedures.
Hand Access Instruments are key to facilitating manual control and dexterity during surgeries. Their market growth is supported by their ability to combine the benefits of open surgery with minimally invasive techniques.
The ‘Other Products’ category, which includes various ancillary instruments and devices used in laparoscopic surgeries, also contributes significantly to the market. The diversity and functionality of these products support the comprehensive needs of laparoscopic procedures, thus maintaining their market relevance.
Application Analysis
The “Other Surgeries” category within the laparoscopic devices market held a dominant position, capturing more than a 24.6% share, in 2023. This segment encompasses a variety of surgical procedures not classified under the standard categories, indicating the versatility and wide applicability of laparoscopic techniques across diverse medical fields.
Bariatric Surgery, a key application segment, is driven by the increasing global incidence of obesity. Laparoscopic devices in this segment are crucial for performing weight loss surgeries, and their demand is bolstered by the effectiveness and minimally invasive nature of these procedures.
Urological Surgery represents another significant segment. The use of laparoscopic devices in urology enhances precision and reduces recovery time, making them a preferred choice for surgeries related to the urinary tract and male reproductive organs.
Gynecological Surgery is a major application area for laparoscopic devices. These devices are extensively used for procedures like hysterectomies and fibroid removal, with their demand driven by the need for less invasive and more patient-friendly surgical options in gynecology.
General Surgery is a broad segment where laparoscopic devices are employed for a range of procedures. Their adoption in general surgery is increasing due to the benefits of reduced post-operative pain and quicker recovery times.
Colorectal Surgery is another important segment. Laparoscopic devices are increasingly being used for colorectal surgeries due to their advantages in terms of shorter hospital stays and lower risk of complications, compared to traditional open surgeries.
Overall, each segment underlines the growing reliance on laparoscopic devices across various surgical disciplines, driven by their benefits of minimal invasiveness, precision, and improved patient outcomes.
Most common procedures include cholecystectomy and appendectomy laparoscopy. As a result, colon laparoscopy’s success rate is expected to continue rising. This segment will see moderate growth over the forecast period. The highest CAGR for bariatric procedures is 7.7%, which is due to rising obesity rates among adults.
According to CDC, 13.0% of adults aged 18 years and older are overweight, while 41.0 million children below the age of five suffer from obesity. American Heart Association also estimates that bariatric surgery costs will increase to USD 957.0 billion by 2030, from USD 861.0 billion in 2030. Additionally, the government’s support and awareness of the dangers of eating unhealthy food/drinks and their effects on BMI should increase bariatric surgery demand during the forecast period. The growing demand for laparoscopic surgery is expected to drive segment growth.
End-User Analysis
Hospitals held a dominant position in the laparoscopic devices market, capturing more than a 62.3% share in 2023. The rise in patients with chronic diseases and an increase in surgical procedures can explain the growth of this market. Hospitals experience a greater inflow of patients than other healthcare settings due to their ability to manage any emergencies and wide range of treatment options. According to the American Society for Metabolic and Bariatric Surg, 256,000 Americans were treated for weight loss in 2019. Accordingly, hospitals are expected to grow based on the above-mentioned factors.
Hospitals are also the main healthcare system in most countries. This means that hospitals perform more laparoscopic surgeries than other healthcare settings such as ambulatory surgical centers or clinics. Therefore, hospitals have a much higher demand for laparoscopic instruments than other end-use segments. The forecast period will see the highest CAGR of 7.1% in the ambulatory surgical center segment.
The forecast period will see a substantial increase in the number of ambulatory surgeons. The lucrative expansion in the market for laparoscopic devices is due to increased adoption of minimally-invasive surgeries, high demand for outpatient procedures, and the cost-effectiveness associated with ambulatory surgery center-based laparoscopic surgeries.
Clinics, as an end-user segment, also play a crucial role in the market. While their share is smaller compared to hospitals, clinics are increasingly adopting laparoscopic devices for outpatient surgeries. The trend towards minimally invasive procedures makes clinics a growing market segment, offering patients convenience and reduced recovery times.
Ambulatory Surgical Centers (ASCs) represent a growing segment in the laparoscopic devices market. Their growth is driven by the shift towards same-day surgical care, where patients do not require overnight hospital stays. ASCs are becoming popular due to their cost-effectiveness and patient-centric approach, making them a key area for the application of laparoscopic devices.
Overall, the market for laparoscopic devices across these end-user segments reflects the growing preference for minimally invasive surgeries in various healthcare settings, from traditional hospitals to more patient-focused ambulatory centers.
According to forecasts, there will be fewer postsurgical complications after minimally invasive laparoscopic surgery. Patients are able to receive a variety of benefits at ambulatory surgery centers, such as faster recovery times and same-day access. Many intra-abdominal surgery procedures can now all be performed in ambulatory surgical centers, due to laparoscopic operations being less invasive. Ambulatory surgery procedures are faster and less costly than inpatient procedures. This reduces patient costs. As a result of these factors, the ambulatory surgeons’ segment is expected to increase rapidly in the forecast period.
Кеу Маrkеt Ѕеgmеntѕ
Product
- Laparoscopes
- Energy Systems
- Trocars
- Closure Devices
- Robot Assisted Systems
- Hand Access Instruments
- Other Products
Application
- Bariatric Surgery
- Urological Surgery
- Gynecological Surgery
- General Surgery
- Colorectal Surgery
- Other Surgeries
End-user
- Hospital
- Clinic
- Ambulatory
Drivers
- The increasing preference for minimally invasive surgeries over traditional ones is a major driver for the laparoscopic devices market. These surgeries, including laparoscopic procedures, are less invasive, leading to reduced blood loss, fewer postoperative complications, and quicker recovery times.
- Health insurance coverage for minimally invasive surgeries in some countries is also boosting the market. About 15 million laparoscopic procedures are performed annually worldwide, with a significant portion of surgical procedures market share.
Restraints
- Reduced Medicare payments in the U.S. are a key restraint. Since August 2012, plans to cut Medicare spending could impact cash flow for medical device companies in the U.S., affecting reimbursements for medical procedures, including laparoscopic surgeries.
- The reforms are likely to influence investments in new product development and sales of advanced laparoscopic devices, as laparoscopic procedures often receive less reimbursement compared to open surgeries.
Opportunities
- Emerging economies present significant opportunities for the laparoscopic devices market. Countries like Brazil, Russia, India, China, and South Africa (BRICS) are rapidly growing, with increasing healthcare expenditure and medical tourism attracting global attention.
- The saturation of developed markets in North America and Europe is pushing laparoscopic instrument manufacturers to focus on these emerging markets, where companies like Stryker and KARL STORZ are setting up facilities.
Challenges
- In developing countries, there is a gap in infrastructure support for laparoscopic procedures. Despite efforts to improve facilities, a large portion of the population lacks access to advanced surgical techniques like laparoscopy.
- Developing countries need to bridge the infrastructure gap to support laparoscopic procedures. This limitation restricts the number of laparoscopic surgeries performed in these regions, posing a significant challenge to the market.
Trends
- The laparoscopic device market is expected to rebound and grow in the forecast period, as countries ease lockdown restrictions and resume elective surgeries.
- Key market players are planning regional expansions and diversifying operations to address supply chain disruptions and benefit from the growing demand in various regions.
Regional Analysis
North America is dominating Laparoscopic Devices Market with 35.7% share, with USD 2.8 Billion in 2023. Market growth is due to a greater dependence on laparoscopic surgeries than on open surgeries. The market for laparoscopic devices will be affected by competition from other prominent players. Because it is faster and more successful than traditional surgeries, laparoscopy has been recommended by surgeons.
The U.S.’s increasing healthcare spending may favor both new and established players. The Centers for Medicaid, Medicare Services, and the Associated Press report that U.S. health spending rose 9.7% to US$ 4.1 trillion in 2020. This represents 19.7% of the country’s GDP.
Market growth for laparoscopic devices in Asia Pacific is expected to be 7.1% in the forecast period. This can be attributed to the rise in advanced hospitals and increased surgical procedures. South Korea, Singapore, and South Korea are just a few of the emerging economies within the Asia Pacific region. The market is expected to grow due to technological advancements, higher investment, better reimbursement scenarios, and growing Medical Tourism.
The country’s other driving factors include affordable devices, increased mergers, and acquisitions, as well as government initiatives to improve healthcare services. The government has made large investments in basic health insurance.
Key Regions and Countries
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Rest of Europe
- APAC
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- MEA
- GCC
- South Africa
- Israel
- Rest of MEA
Global manufacturers are increasing their production speeds and updating their systems with cost-effective options to meet the rising demand for laparoscopic devices. Market leaders are pushing for higher product quality by acquiring and merging with other businesses to continue the high demand. To create a simulator to aid laparoscopic training, the company partnered up with VirtaMed in Switzerland, a manufacturer of medical simulators. The mixed reality simulator is made up of real laparoscopic tools combined with a computer-generated representation. Some of the leading players in the market are:
Маrkеt Кеу Рlауеrѕ
- Karl Storz SE & CO. Kg
- Medtronic
- Johnson and Johnson
- Olympus Corporation
- CONMED Corporation
- B. Braun Melsungen AG
- The Cooper Companies Inc.
- Richard Wolf GmbH
- Microline Surgical
- BD
- Welfare Medical Ltd
- Other Key Players
Recent Development
- September 2023: Medtronic announced the launch of its new Hugo Robotic-Assisted Surgery System in the United States. The Hugo system is designed to provide surgeons with enhanced dexterity, control, and visualization during laparoscopic procedures.
- August 2023: Intuitive Surgical announced that it had received FDA approval for its da Vinci X surgical system. The da Vinci X system is the latest iteration of the company’s popular da Vinci robot, and it features a number of improvements, including enhanced 3D visualization and more precise instrument control.
- July 2023: Abbott Laboratories announced that it had acquired Heartland Robotics, a developer of robotic-assisted surgery systems. The acquisition is expected to expand Abbott’s portfolio of minimally invasive surgery products.
- June 2023: Medtronic announced that it had acquired Covidien, a manufacturer of laparoscopic devices. The acquisition is expected to strengthen Medtronic’s position in the laparoscopic surgery market.
- May 2023: Stryker announced that it had received FDA approval for its Mako Robotics system for use in total hip and knee replacement surgeries. The Mako system is a robotic-assisted surgery system that uses computer-aided navigation to improve the accuracy and precision of joint replacement procedures.
Report Scope
Report Features Description Market Value (2023) USD 8.5 Billion Forecast Revenue (2032) USD 17.2 Billion CAGR (2023-2032) 19% Base Year for Estimation 2023 Historic Period 2017-2022 Forecast Period 2024-2033 Report Coverage Revenue Forecast, Market Dynamics, Competitive Landscape, Recent Developments Segments Covered By Product (Laparoscopes, Energy Systems, Trocars, Closure Devices, Robot Assisted Systems, Hand Access Instruments and Other Products) By Application (Bariatric Surgery, Urological Surgery, Gynecological Surgery, General Surgery, Colorectal Surgery and Other Surgeries) By End-user (Hospital, Clinic and Ambulatory) Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA Competitive Landscape Karl Storz SE & CO. Kg, Medtronic, Johnson and Johnson, Olympus Corporation, CONMED Corporation, B. Braun Melsungen AG, The Cooper Companies Inc., Richard Wolf GmbH, Microline Surgical, BD, Welfare Medical Ltd and Other Key Players Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
Q: What is the size of the Laparoscopic Devices market in 2023?The Global Laparoscopic Devices Market size is expected to be worth around USD 17.2 billion by 2032, from USD 8.5 billion in 2023, growing at a CAGR of 19% during the forecast period from 2023 to 2033.
Q: What is the projected CAGR at which the Laparoscopic Devices market is expected to grow at?The Laparoscopic Devices market is expected to grow at a CAGR of 19% (2023-2032).
Q: List the segments encompassed in this report on the Laparoscopic Devices market?Market.US has segmented the Laparoscopic Devices market by geographic (North America, Europe, APAC, South America, and Middle East and Africa). By Product (Laparoscopes, Energy Systems, Trocars, Closure Devices, Robot Assisted Systems, Hand Access Instruments and Other Products) By Application (Bariatric Surgery, Urological Surgery, Gynecological Surgery, General Surgery, Colorectal Surgery and Other Surgeries) By End-user (Hospital, Clinic and Ambulatory)
Q: List the key industry players of the Laparoscopic Devices market?Karl Storz SE & CO. Kg, Medtronic, Johnson and Johnson, Olympus Corporation, CONMED Corporation, B. Braun Melsungen AG, The Cooper Companies Inc., Richard Wolf GmbH, Microline Surgical, BD and Welfare Medical Ltd and Other Key Players engaged in the Laparoscopic Devices market.
Laparoscopic Devices MarketPublished date: Nov 2023add_shopping_cartBuy Now get_appDownload Sample - Karl Storz SE & CO. Kg
- Medtronic
- Johnson and Johnson
- Olympus Corporation
- CONMED Corporation
- B. Braun Melsungen AG Company Profile
- The Cooper Companies Inc.
- Richard Wolf GmbH
- Microline Surgical
- Becton, Dickinson and Company Profile
- Welfare Medical Ltd
- Other Key Players
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