According to Emergen Research, the global laparoscopy and endoscopy devices market size was USD 20.99 billion in 2020 and is expected to reach USD 29.51 billion in 2028 and register a revenue CAGR of 4.3% during the forecast period, 2021-2028.
Emergen Research has published its latest report titled “Laparoscopy and Endoscopy Devices Market, By Device Type (Laparoscopy Devices, Endoscopy Devices), By Application (Gastrointestinal Surgery, Cardiac Surgery, Gynecology Surgery, Orthopedic Surgery, Urologic Surgery, Neurological Surgery, Other Applications), By End-use (Hospitals & Clinics, Ambulatory Surgical Centers, Others), and By Region Forecast to 2028”
According to Emergen Research, the global laparoscopy and endoscopy devices market size was USD 20.99 billion in 2020 and is expected to reach USD 29.51 billion in 2028 and register a revenue CAGR of 4.3% during the forecast period, 2021-2028.
Market Dynamics:
Steady revenue growth of the global laparoscopy and endoscopy devices market is attributed to factors such as rise in global geriatric population, increasing prevalence of chronic and acute diseases worldwide, rising preference for minimally invasive surgeries, and increasing volumes of laparoscopic and endoscopic procedures. Increasing incidences of gastrointestinal, urological, cardiac, gynecological, and orthopedic disorders, and technological advances in laparoscopy and endoscopy devices are among the other key factors expected to drive market revenue growth during the forecast period.
Laparoscopy is a low-risk endoscopic procedure for examination of the organs within the abdominal region of the body. It is a minimally invasive technique and requires just a few minor cuts. The surgical technique is widely used for the diagnosis and treatment of various diseases, and it is mostly used for procedures such as hysterectomies (removal of the uterus) and appendectomies (removal of the appendix). Revenue growth of the global laparoscopy and endoscopy devices market, however, is hampered to a major extent due to high costs of laparoscopic and endoscopic surgeries, lack of skilled surgical professionals, and numerous risks associated with these procedures, including inability to urinate, persistent cough, lightheadedness, and fever.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Gastrointestinal Surgery Segment Accounted for Largest Revenue Share in 2020:
Based on application, the global laparoscopy and endoscopy devices market is segmented into Gastrointestinal Surgery, Cardiac Surgery, Gynecology Surgery, Orthopedic Surgery, Urologic Surgery, Neurological Surgery, and Other Applications. The gastrointestinal surgery segment accounted for the largest revenue share in the global market in 2020. Increasing incidences of gastrointestinal disorders, growing geriatric population, rising cases of colorectal cancer (CRC), and rapid integration of AI and robotics in gastrointestinal surgical procedures are key factors driving this segment’s growth.
Hospitals & Clinics Segment to Account for Fastest Revenue CAGR:
Based on end-use, the global laparoscopy and endoscopy devices market is segmented into Hospitals & Clinics, Ambulatory Surgical Centers, and Others. The hospitals & clinics segment is expected to register the fastest revenue growth rate the global market over the forecast period, owing to factors such as rapid adoption of technologically advanced laparoscopy and endoscopy devices in hospitals & clinics, growing medical tourism in many developed and developing countries around the world, and advancement of healthcare infrastructure.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America laparoscopy and endoscopy devices market accounted for the largest revenue share in the global market in 2020. Rising burden of chronic diseases including gastrointestinal, urological, gynecological, and cardiac diseases; increasing demand for minimally invasive surgical procedures; growing need for improved diagnostic accuracy; and presence of key market players in the region, including Boston Scientific Corporation and Stryker Corporation, are among the major factors contributing to the North America market growth.
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Major Companies in the Global Laparoscopy and Endoscopy Devices Market Include:
- Stryker Corporation
- Fujifilm Corporation
- Smith & Nephew Plc
- Cook Medical Inc.
- Boston Scientific Corporation
- B. Braun Melsungen
- Olympus Corporation
- Medtronic Plc
- Karl Storz
- Hoya Corporation
For the purpose of this report, Emergen Research has segmented the global laparoscopy and endoscopy devices market based on device type, application, end-use, and region:
Device Type Outlook (Revenue, USD Billion; 2018-2028)
- Laparoscopy Devices
- Endoscopy Devices
Application Outlook (Revenue, USD Billion; 2018-2028)
- Gastrointestinal Surgery
- Cardiac Surgery
- Gynecology Surgery
- Orthopedic Surgery
- Urologic Surgery
- Neurological Surgery
- Other Applications
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Others
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Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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