The report "Global Laparoscopy Devices" Market by Product Type (Medical Laparoscopic Robots, Laparoscopes, Video Laparoscopes, Fiber Laparosccpes, Energy Devices, Hand Instruments, Closure Devices, Access Devices, Accessories, Insufflators, Suction/Irrigation Pumps), Application Type (General Surgery, Gynecological Surgery, Colorectal Surgery, Bariatric Surgery, Urological Surgery, Pediatric Surgery) End-user (Hospitals, Ambulatory Surgical Centers) and Regional (North America, Europe, APAC, Latin America, The Middle East & Africa)- Global Forecast to 2030. "In 2020, the market share of the Global Laparoscopy Devices Market was USD 10.3 billion. It is predicted to reach $ 21.83 billion by 2030, with a CAGR of 7.8 % throughout the forecasted period.
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KEY FACTORS AUGMENTING THE MARKET GROWTH
Increased prevalence of chronic illnesses and rising awareness of minimally invasive operations among patients are some of the key drivers of the market.
By Product, the 'energy systems' segment holds the most significant market share.
Based on Product, with a revenue share of around 21.5 % in 2021, the energy systems category topped the laparoscopic instruments market. On the other hand, the insufflation device category is expected to expand at the fastest pace of 7.9% over the forecast period. Market growth is fueled by the rising incidence rate of diseases like colorectal cancer. According to the World Cancer Research Fund International, Colorectal cancer was the third most frequent disease in women and men in 2020, with over 1.90 million new cases reported.
By Application, the 'other surgery' segment holds the most significant market share.
Based on Application, with a revenue share of around 22.8 % in 2021, the other surgeries sector topped the Laparoscopy Devices Market size. As a result, the general surgery category is predicted to increase at a CAGR of 7.79 % over the forecast period. On the other hand, the market for bariatric operations is expected to rise at a 7.7% CAGR over the projected period, primarily to the increased prevalence of obesity in adults due to excessive calorie intake and changing lifestyle patterns, which is the key driver of segment growth.
By End-users, the "Hospital" segment holds the maximum share of the market.
Based on end-users, the hospital sector, which accounted for 61.6 % of total revenues in 2021, remained the leading company for laparoscopic devices. Hospitals encounter many more patients for bariatric surgery or other laparoscopic procedures than some healthcare settings due to the relative simplicity of treating any emergencies that may arise during operations conducted and access to a wider choice of treatment alternatives in such facilities.
By Region, North America comprehensively led the market in terms of revenue.
In terms of region, North America accounted for the largest share of the global laparoscopic devices market in 2020. North America will contribute 34.6 % of overall sales in 2021. In North America, the United States accounted for the largest share of the marketplace for laparoscopic devices. With a growth rate of 7.1 % over the forecast period, Asia Pacific is expected to be the fastest expanding market for laparoscopic instruments.
SOME OF THE CRUCIAL EXISTING MARKET PLAYERS:
Below mentioned players are the ones who are the market leaders of Global Laparoscopy Devices - B. Braun Melsungen AG, Boston Scientific Corporation, ConMed Corporation, Johnson & Johnson, Karl Storz SE & CO. KG, Medtronic Plc. (Covidien), Olympus Corporation, Richard Wolf GmbH, Smith & Nephew Plc, Stryker Corporation, Intuitive Surgical, Microline Surgical, Inc., SCHÖLLY Fiberoptic GmbH Optomic, Victor Medical Instruments Co., Ltd
Recent Developments: -
On 5th January 2022, Seger Surgical Solutions Ltd. announced the start of work on a new laparoscopic stapler for intracorporeal anastomosis.
On 27th April 2021, for the sales and distribution of the ArtiSentialTM range of products in the Chinese and Singapore markets, Genesis MedTech has signed a strategic distribution deal with LivsMed. This medical device business provides ground-breaking technology for minimally laparoscopic invasive surgery.
On 17th February 2021, Olympus Corporation, located in Japan, announced the debut of the SIF-H190 single balloon enteroscopy in Japan and Europe later this year, featuring features such as the ability to progress farther into the small intestine with a smoother path.