Laparoscopic Devices Market Size to Reach Around US$ 13.7 Bn by 2030

According to Vision Research Reports, the global laparoscopic devices market size is expected to reach around US$ 13.7 billion by 2030 and is anticipated to grow at a CAGR of 8.9% during forecast period 2022 to 2030.

Report Highlights

• The energy systems segment dominated the market for laparoscopic devices and captured the largest revenue share of around 21.55% in 2021.
• The insufflation device segment is expected to witness the highest CAGR of 7.93% over the forecast period.
• The hospital segment dominated the market for laparoscopic devices and accounted for the largest revenue share of 61.7% in 2021.
• The ambulatory surgical centers' segment is expected to witness the highest CAGR of 7.15% during the forecast period.
• The other surgeries segment dominated the market for laparoscopic devices and accounted for a revenue share of around 22.88% in 2021.
• The bariatric surgeries segment is expected to witness the highest CAGR of 7.77% during the forecast period.
• North America dominated the laparoscopic devices market and accounted for the highest revenue share of 34.67% in 2021.
• U.S. health care spending increased by 9.73% and reached USD 4.2 trillion in 2020, accounting for approximately 19.75% of the GDP.
• In the Asia Pacific, the market for laparoscopic devices is expected to witness a CAGR of 7.21% during the forecast period.
• By product, the U.S. laparoscopic devices market was valued at USD 1.94 billion in 2021 and expected to witness growth at a CAGR of 7.3% from 2022 to 2030.

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Revolutionary Ergonomic Handle Designs in Needle Holders Boosting Global Market

Reusable, reposable, and single use advanced energy solutions are becoming increasingly available in modular configurations. Companies in the laparoscopy devices market are increasing their focus on unique designs of instruments to allow complete disassembly for effective cleaning and decontamination. They are manufacturing slide-lock graspers to provide the highest level of tissue grasping properties in instruments. Apart from graspers, manufacturers are increasing their production capacities in vascular clamps meant for advanced laparoscopic urological procedures.

Growth Factors

Increasing number of bariatric surgeries being performed and adoption of minimally invasive procedures are anticipated to boost the market growth. According to the American Society for Metabolic and Bariatric Surgery (ASMBS), bariatric surgery is performed when a patient is suffering from obesity and they are not able to lose weight. Thus, growing cases of obesity is contributing to the market growth. Increasing preference by surgeons for laparoscopic surgery owing to the benefits, such as small incisions, less healing time, and short hospital stay, is also driving the market.

Technological advancements are further expected to propel market growth. For instance, Medtronic’s LigaSure device is designed to deliver a specific combination of energy and pressure to create consistent seal within its applications. It provides unique combination of energy and pressure to create vessel fusion. Stryker laparoscopes had a combination of high-quality sapphires and rod lens technology used for superior transformation and excellent recognition to maximize image quality during surgical procedures.

Scope of the Report

Key Driver of Laparoscopy Devices Market

• Minimally invasive surgery offers a higher accuracy rate compared to traditional open surgery. A significant benefit of minimally invasive surgery is the size of incision. Minimally invasive surgery relies on tiny incisions for the insertion of thin tubes, fiber-optic lights, cameras, and other small surgical tools.
• Surgery with laparoscopy devices has been a highly preferred method of treatment in the past few years among healthcare providers across the world
• A study conducted at the Johns Hopkins University School of Medicine in Maryland, the U.S., concluded that urban hospitals were performing laparoscopic appendectomies four times more than rural hospitals, and were likely performing 15 times more minimally invasive hysterectomies than rural hospitals
• According to the American Congress of Obstetricians and Gynecologists (ACOG), the rate of minimally invasive hysterectomy procedures conducted in the U.S. increased from an estimated 14% in 2004 to 53% in 2013
• Initiation of robot-assisted surgery could be a key factor driving the number of laparoscopic surgeries performed for different surgeries such as prostatectomy, cancer, hernia repair, and colorectal cancer
• According to the American Society of Plastic Surgeons, an estimated 20 million surgical procedures were performed across the world in 2014, and 52% of these were minimally invasive surgeries
• Increase in the number of laparoscopic surgeries performed every year is expected to drive the demand for and subsequent consumption of laparoscopy devices in the global market. This, in turn, is expected to propel the global laparoscopy devices market during the forecast period.
• Accuracy of minimally invasive procedures improved due to the use of camera, enabling a surgeon to have better visualization of internal organs. Awareness among people about the positive effects of adoption of minimally invasive surgery has helped in the propagation of this technique.

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Product Insights

The energy systems segment dominated the market for laparoscopic devices and captured the largest revenue share of around 21.55% in 2021. Energy systems allow rapid sequential tissue and vessel sealing, transection, and coagulation during laparoscopic surgery. These systems have wide application in bariatric surgeries, such as gastric bypass, sleeve gastrectomy, adjustable gastric band, and biliopancreatic diversion with duodenal switch. According to the IFSO Global Registry Report 2019, 833,687 bariatric surgeries were performed in 61 countries globally 2019. Thus, the abovementioned factors are expected to fuel the market growth during the forecast period.

The insufflation device segment is expected to witness the highest CAGR of 7.93% over the forecast period. Insufflation devices allow for easy and safe persufflation with humidified carbon dioxide of the abdominal cavity. The rising frequency and incidence of diseases such as colorectal cancer are the factors likely to fuel market expansion. For instance, colorectal cancer was the third most frequent cancer in women and men in 2020, according to the World Cancer Research Fund International, with around 1.90 million new cases reported. Colorectal cancer is most commonly treated with laparoscopic surgery. As a result, the rising prevalence of colorectal cancer is predicted to boost the market growth.

End-user Insights

The hospital segment dominated the market for laparoscopic devices and accounted for the largest revenue share of 61.7% in 2021. The growth of this segment can mainly be attributed to an increase in the number of patients suffering from various chronic diseases and the consequent rise in surgical procedures. In comparison to other healthcare settings, hospitals see a significantly higher inflow of patients for bariatric surgeries or other laparoscopic procedures, owing to the ease of handling any emergencies that may arise during surgical procedures and the availability of a wide range of treatment options in such facilities. For instance, according to the American Society for Metabolic and Bariatric Surgery, in 2019 alone, 256,000 people in the U.S. underwent weight-loss surgery. Thus, the aforementioned factors are expected to drive the hospitals' segment.

Moreover, hospitals are the primary health system in the majority of countries; therefore, the number of laparoscopic surgeries done at hospitals is relatively high than in other healthcare settings such as ambulatory surgery centers or clinics. Thus, the demand for laparoscopic devices in hospitals is comparatively high than in other end-use segments. The ambulatory surgical centers' segment is expected to witness the highest CAGR of 7.15% during the forecast period. The ambulatory surgical centers' segment is expected to grow at a significant pace over the forecast period. The lucrative expansion of the market for the laparoscopic device is due to an increase in the adoption of minimally invasive surgeries, a high desire for outpatient surgeries, and the cost-effectiveness of ambulatory surgical center-based laparoscopic procedures.

Lower postsurgical complications in minimally invasive laparoscopic surgery, on the other hand, are predicted to boost demand for ambulatory surgery facilities. In comparison to hospitals, they provide patients with various benefits, including same-day release and faster procedure times. Because laparoscopic operations are less invasive, most intra-abdominal surgeries can now be performed at ambulatory surgical centers. Aesthetic procedures at ambulatory surgery facilities are not only less time-consuming but also less expensive than inpatient procedures, lowering patient costs. As a result of the factors discussed above, the ambulatory surgery centers segment is expected to rise rapidly over the forecast period.

Application Insights

The other surgeries segment dominated the market for laparoscopic devices and accounted for a revenue share of around 22.88% in 2021. Cholecystectomy laparoscopy, appendectomy laparoscopy, thoracic laparoscopy, colon laparoscopy, and prostrate laparoscopy are among the most common procedures. Colon laparoscopy, for instance, is predicted to rise steadily as a result of ongoing innovation aimed at improving its success rate. Thus, this segment is expected to witness a moderate growth rate over the forecast period. The bariatric surgeries segment is expected to witness the highest CAGR of 7.77% during the forecast period, owing to the increasing incidence of obesity in adults due to excessive intake of calories and changing lifestyle habits is the major driver for segment growth.

For instance, according to CDC, around 13.0% of the population (aged 18 and above) are obese and 41.0 million children under the age of 5 years suffer from obesity. Furthermore, the American Heart Association has estimated the total medical cost for bariatric surgery to reach up to USD 957.0 billion from USD 861.0 billion by 2030. Moreover, government support and increased awareness about unhealthy food/drinks available in the market and their impact on BMI are factors further expected to increase the demand for bariatric surgeries during the forecast period. Laparoscopic devices are among the essential requirements for bariatric surgeries and increasing demand for such surgeries is anticipated to fuel segment growth.

Regional Insights

North America dominated the laparoscopic devices market and accounted for the highest revenue share of 34.67% in 2021. Increasing dependence on laparoscopic surgeries compared to open surgeries is a major factor driving the market. In addition, competition among prominent players, related to product innovation, will also impact the market for the laparoscopic device. Furthermore, surgeons are now recommending laparoscopy over traditional surgeries, as it allows for rapid healing and positive outcome. In addition, increasing healthcare expenditure in the U.S. may also favor the entry of both new and old players. For instance, as per the Centers for Medicaid and Medicare Services, U.S. health care spending increased by 9.73% and reached USD 4.2 trillion in 2020, accounting for approximately 19.75% of the GDP.

In the Asia Pacific, the market for laparoscopic devices is expected to witness a CAGR of 7.21% during the forecast period owing to an increase in the number of advanced, well-equipped hospitals and a large number of surgical procedures are boosting the market growth in the Asia Pacific over the forecast period. Singapore and South Korea are some of the emerging economies in the Asia Pacific region. Advancing technology, increasing investment, improving reimbursement scenarios, and growing medical tourism are likely to drive the market in the region. Other driving factors for the country are affordable devices, an increase in mergers and acquisitions, and government initiatives to improve healthcare services. The government has made significant investments to provide basic health insurance to all citizens.

Key Players

Medtronic PLC; Karl Storz GmbH; Stryker Corp.; Johnson and Johnson Services, Inc.; CONMED Corp.; and Olympus Corp.

Market Segmentation

• Product Outlook 
  • Trocars
  • Energy Systems
  • Closure Devices
  • Suction/Irrigation Devices
  • Insufflation Devices
  • Laparoscopes
  • Hand Access Instruments
  • Robot-Assisted Systems
• Application Outlook
  • Bariatric Surgery
  • Colorectal Surgery
  • General Surgery
  • Gynecological Surgery
  • Urological Surgery
  • Others
• Regional Outlook 
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

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