Increasing incidence of chronic diseases, growing preference for minimally invasive surgical procedures, and rising geriatric population are expected to drive global Laparoscopy and Endoscopy Devices market growth.
Increasing incidence of chronic diseases, growing preference for minimally invasive surgical procedures, and rising geriatric population are expected to drive global Laparoscopy and Endoscopy Devices market growth.
According to Emergen Research, the global laparoscopy and endoscopy devices market size was USD 20.13 billion in 2019 and is expected to reach USD 28.30 billion in 2027 and register a steady revenue CAGR of 4.3% during the forecast period, 2020-2027.
Market Dynamics:
Laparoscopy and endoscopy are diagnostic procedures, that are performed for viewing innermost areas in the body, not visible to naked eyes. These are low-risk, non-invasive, or minimally invasive techniques widely used in hospitals, clinics, and ambulatory surgical centers to carry out complex cardiac, gynecology, neurological, and urologic surgeries. Factors such as rising geriatric population, increasing application of laparoscopic and endoscopic devices in various surgeries including cardiac, gynecology, orthopedic, gastrointestinal, urologic, and neurological surgeries, and rising investments in developing novel and more enhanced devices are expected to drive global market growth during the forecast period.
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However, high capital investments, lack of funds to deploy latest devices and systems, especially in many hospitals and clinics in developing and underdeveloped economies, and low awareness about these devices are some key factors that can hamper market growth to a certain limit during the forecast period.
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
Cardiac Surgery Segment To Register Rapid Revenue CAGR:
The cardiac surgery segment is expected to register rapid revenue CAGR over the forecast period. This can be attributed to rising prevalence of various cardiovascular diseases, increasing investments for deploying minimally invasive surgical systems, and rapid adoption of advanced laparoscopy and endoscopy devices in complex cardiac surgeries.
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Hospitals & Clinics Segment to Account for Largest Revenue Share:
The hospitals and clinics segment is expected to account for largest revenue share over the forecast period owing to large patient pool, high demand for minimally invasive surgeries, and increasing adoption of automated laparoscopy and endoscopy systems and devices.
North America to Lead In Terms of Revenue Share:
North America is expected to dominate other regional markets in terms of revenue share during the forecast period owing to increasing incidence of various chronic diseases, rising availability of advanced laparoscopy and endoscopy devices, and rapid adoption of advanced diagnostic procedures. In addition, presence of well-established healthcare infrastructure and skilled healthcare professionals, growing preference for minimally invasive procedures, and increasing investments in developing advanced devices are expected to fuel market growth going ahead.
Major Companies in the Market Include:
- Stryker Corporation
- Fujifilm
- Smith & Nephew PLC
- Cook Medical
- Boston Scientific
- B. Braun Melsungen
- Olympus
- Medtronic
- Karl Storz
- Hoya Corporation
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For the purpose of this report, Emergen Research has segmented the global laparoscopy and endoscopy devices market on the basis of device type, application, end-uses, and region:
Device Type Outlook (Revenue, USD Billion; 2017-2027)
- Laparoscopy Device
- Endoscopy Device
Application Outlook (Revenue, USD Billion; 2017-2027)
- Gastrointestinal Surgery
- Cardiac Surgery
- Gynecology Surgery
- Orthopedic Surgery
- Urologic Surgery
- Neurological Surgery
- Others
End Users Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Others
Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
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