Laparoscopic Devices Market Analysis North America,Europe,Asia,Rest of World (ROW) - US,Canada,Germany,UK,China - Size and Forecast 2023-2027

Laparoscopic Devices Market Forecast 2023-2027

The global laparoscopic devices market size is estimated to grow by USD 4.39 billion at a CAGR of 8.11% between 2022 and 2027. The growing preference for minimally invasive procedures is set to have a positive impact on the market. MI procedures are less painful, necessitate shorter hospital stays, and are being increasingly favored due to the escalating complications linked with traditional open surgeries. Post-operative complications, such as pain, clotting, fatigue, and infections, are prevalent with open surgeries, and anesthesia often leads to discomfort. Common laparoscopic treatments encompass hysterectomy, fibroid removal, adhesion, and ovarian cyst removal, boasting advantages like high success rates, reduced medical costs, and shorter hospital stays. This emergence of MI procedures is augmented by increasing awareness among healthcare providers, prompting manufacturers to introduce innovative laparoscopic instruments and accessories. The introduction of such advanced laparoscopic devices is expected to fuel their adoption, thereby driving market growth during the forecast period. 

It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.

What will be the size of the Market During the Forecast Period?

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Market Segmentation

Technavio has segmented the market into product, end-user and geography 

• The product  segment is classified into instrument, accessories, and laparoscopes
• The end-user segment is classified into hospitals, clinics, and ambulatory surgical centers
• The geography segment includes key regions such as North America, Europe, Asia, and Rest of World (ROW)

Market Segmentation by Product, End-user, and Geography

The market exhibits diverse segments and applications, catering to various medical needs and conditions. These include obesity treatments like bariatric surgeries such as hysterectomy and myomectomy for uterine fibroids and endometriosis. Energy systems within laparoscopic devices enhance surgical precision, aiding in procedures like laparoscopic surgery and reducing complications compared to traditional surgery. Skilled professionals and physicians benefit from innovative tools like the laparoscope for diagnoses such as ectopic pregnancy and pelvic inflammatory disease (PID). Robot-assisted laparoscopic surgeries also play a crucial role in treating morbid obesity and promoting weight reduction among patients, highlighting profitable chances for local manufacturers and medical services providers.

Product Analysis 

Instrument 

The market share growth by the instrument segment will be significant during the forecast period. Laparoscopic instruments and accessories comprise insufflations/irrigation devices; closure instruments; graspers; trocars; and instruments with dissecting, suturing, and cutting capabilities. Also, the segment includes instrument trays, pumps, insufflator accessories, pumps, deposable electrosurgical tips, suction irrigation tips, laparoscopic electrodes, camera systems, ligature clips, light sources, needle holders, internal organ retractors, and equipment carts. These instruments and accessories are disposable. Thus, the revenue generated from accessories is recurring. This positively drives market growth. 

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The instrument segment was the largest segment and was valued at USD 5.74 billion in 2017. The advancing technological developments and target population are the major driving factors of this segment. Also, the segment growth is driven by companies that are focusing on expanding their product offerings and exploring growth opportunities in the field of endoscopy. Medtronic offers Valleylab retractable laparoscopic electrodes with enhanced features, which include further electrode tip insulation and aspiration holes that aid in laparoscopic procedures requiring precise dissection with augmented suction and a decreased risk of damage. Such advanced instruments will likely increase the demand and adoption among various healthcare centers.

In addition, companies are developing advanced camera systems to deliver an improved view of the internal organs, which can enhance surgical outcomes in laparoscopic, minimally invasive surgical procedures Moreover, with such advancements, the applications of laparoscopy procedures can be expanded, which is expected to drive the market growth during the forecast period. 

End-user Analysis

Hospitals

An integral part of the market in focus is the hospital segment. Hospitals are the primary end-users of laparoscopic devices and play an important role in executing surgeries and medical procedures. A broad spectrum of laparoscopic devices is available to enable minimally invasive surgery in a variety of specialties due to the new innovations in advanced energy to high-precision instrumentation. Laparoscopy is a minimally invasive surgical procedure that uses long slender instruments that require much smaller incisions than Traditional surgical methods. In addition, laparoscopic devices comprise a comprehensive range of reusable, deposable, and single-use instruments and trocars, as well as ligation clip appliers, endoscopes, and advanced energy solutions in operations, surgeries, and procedures. For the expertise and intensive usage of laparoscopic devices in hospitals, the hospital segment in the market in focus is expected to grow during the forecast period.

Clinics

Clinics contribute a major share of this segment in the market and are the primary point of care for patients. Clinics are the standalone setup of facilities. The demand for clinics has increased with the growing demand for consumer-friendly outpatient services, ease of access, and affordability. These centers are often popular and widely preferred by patients.  This has led clinics to provide services at lower costs for diagnostic tests and small surgical procedures such as dental procedures. In addition, due to ease of accessibility and a much faster approach, these centers offer better outpatient care, and people can go through the same services offered in hospitals at a lower cost in clinics, which will lead to an increase in procedures in these clinical centers. This, in turn, is anticipated to drive the growth of the clinics segment in the market in focus during the forecast period.

Regional Analysis

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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The growth of the market in the region is propelled by various factors, including the high prevalence of liver cancer, obesity, substantial healthcare expenditure, and the swift adoption of advanced technologies. For instance, data from a 2019 investor presentation by Boston Scientific revealed that around 850,000 individuals in the US are diagnosed with liver cancer annually, indicating a significant patient pool and opportunities for market expansion.

Notably, major and prominent companies are heavily investing in research and development activities to enhance existing products and introduce new ones. Boston Scientific, for instance, allocated substantial resources to R&D, with an expenditure of approximately USD 1,143 million in 2020. The company's commitment to expanding collaborations with research institutions, universities, and clinicians underscores its dedication to meeting global and local market demands efficiently. Furthermore, market players are adopting diverse strategies, such as integrating robotic systems into laparoscopy, to broaden their product portfolios. An illustrative instance is Ethicon Inc., a subsidiary of Johnson & Johnson, which acquired Auris Health Inc., a robotic technologies provider, to extend robotics applications, including within laparoscopy. These strategic initiatives are poised to accelerate the expansion of the regional market during the forecast period.

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Key Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

B.Braun SE - The company offers laparoscopic devices such as EinsteinVision, and Caiman.

• Avateramedical GmbH
• Becton Dickinson and Co.
• CMR Surgical Ltd.
• Conmed Corp.
• Cook Group Inc.
• FlexDex Inc.
• HOYA Corp.
• Intuitive Surgical Inc.
• Johnson and Johnson
• KARL STORZ SE and Co.KG
• Medtronic Plc
• Olympus Corp.
• Peters Surgical
• Richard Wolf GmbH
• Smith and Nephew plc
• Stryker Corp.
• Teleflex Inc.
• The Cooper Companies Inc.
• Titan Medical Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Dynamics and Customer Landscape

The market is driven by the increasing prevalence of obesity and related conditions such as uterine fibroids, endometriosis, and morbid obesity, prompting the need for laparoscopy and bariatric surgeries. Advancements in energy systems and robot-assisted laparoscopic surgeries enhance patient outcomes, while local manufacturers and medical services providers seek profitable chances to cater to these needs. However, challenges such as traditional surgery competition, diabetes complexities, and the demand for skilled professionals pose hurdles to market growth and innovation. There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. 

Key Market Drivers

The growing geriatric population is notably driving the market growth. The global market is being propelled by the active engagement of key players like Medtronic, Olympus, Boston Scientific, Johnson and Johnson, Stryker, and B. Braun Melsungen in emerging economies. These players are strategically increasing their investments in research and development while expanding their presence in these regions. For instance, Boston Scientific is forming collaborations with research and development teams in emerging markets, aiming to meet both regional and global market demands more cost-effectively. 

Moreover, countries such as China, Indonesia, India, Brazil, and Mexico are poised for above-average growth, as highlighted by the company. This has prompted B. Braun Melsungen to invest significantly in research and development activities, with the aim of capitalizing on growth opportunities in these emerging economies. These strategic investments are poised to make a substantial contribution to the advancement of the focused market segment during the projected period.

Significant Market Trends

Growing demand for laparoscopic bariatric surgeries is an emerging trend shaping the market. In recent years, there has been a global surge in the prominence of bariatric surgery conducted through laparoscopic techniques. The escalating prevalence of obesity is poised to intensify the demand for laparoscopic bariatric surgeries, thereby propelling market expansion. The rising population of individuals grappling with obesity is anticipated to drive a parallel increase in the demand for bariatric surgeries, thereby serving as a catalyst for market growth. Notable laparoscopic bariatric procedures encompass gastric bypass, sleeve gastrectomy, adjustable gastric banding, and biliopancreatic diversion with a duodenal switch.

Nevertheless, advanced techniques such as laparoscopic adjustable gastric banding (LAGB) are steadily gaining prominence within healthcare institutions. This method employs laparoscopic instruments and methodologies to implant inflatable silicone bands around the upper section of the stomach. Notably minimally invasive, LAGB considerably curtails hospital stays and allows patients to resume regular activities within a mere one or two weeks. The prevalence of such progressive laparoscopic approaches is expected to foster their widespread adoption, thereby significantly contributing to market growth throughout the forecast period.

Major Market Challenges

The lack of skilled professionals in handling laparoscopic devices is a significant challenge hindering market growth. The adoption of laparoscopic surgery is steadily gaining traction within healthcare establishments, underscoring the heightened demand for effective training and assessment resources, as well as proficient professionals. Acquiring laparoscopic skills necessitates hands-on training, wherein healthcare practitioners must possess a comprehensive grasp of both laparoscopic equipment and anatomical structures to adeptly navigate and identify anomalies. Competent training is imperative for the adept utilization of laparoscopic devices, ensuring favorable patient outcomes.

In addition, the dearth of skilled professionals could curtail the utilization of laparoscopic techniques, thereby impeding market growth. Unlike traditional open surgery, laparoscopic procedures constrain surgeons' range of motion and necessitate the use of tools for tissue manipulation. Miscalculations in exerting appropriate force while working with tissues can lead to complications and tissue damage. Developing countries often encounter limited access to laparoscopic surgical training, which is projected to curtail adoption rates and hinder market growth in the forecast period.

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Key Market Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Product Outlook 
  • Instrument
  • Accessories
  • Laparoscopes

• End-user Outlook 
  • Hospitals
  • Clinics
  • Ambulatory surgical centers

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Brazil
    • Argentina
    • Australia

Market Analyst Overview

The market is witnessing remarkable growth driven by a range of factors. These include advancements in technology, increasing adoption of minimally invasive surgeries, and the rising prevalence of chronic diseases like colorectal cancer, diabetes, and gastrointestinal disorders. Laparoscopic equipment such as insufflation devices, energy systems, and closure devices play a crucial role in procedures like appendectomy laparoscopy, cholecystectomy laparoscopy, and colon laparoscopy. The market also benefits from the miniaturization of laparoscopic devices, making surgeries less invasive and reducing the risk of infection.

Moreover, robot-assisted systems, including robot-assisted laparoscopic surgeries and single-incision laparoscopic surgery (SILS), are gaining prominence for their precision and effectiveness. Healthcare infrastructure enhancements and technological innovations are creating profitable opportunities, particularly for local manufacturers and diagnostic centers. However, challenges such as the high cost of robotic-assisted systems and the need for skilled physicians hinder market growth. Despite these obstacles, the market continues to expand, driven by the demand for minimally invasive procedures and the growing focus on patient outcomes and safety.

Furthermore, the market is experiencing significant growth, fueled by a wide array of factors and applications. From colorectal surgery to gynecological conditions and urological surgery, laparoscopic equipment plays a pivotal role in modern medical practices. Innovations in minimally invasive laparoscopic equipment and robot-assisted surgical systems have revolutionized procedures like prostate laparoscopy and myomectomy, reducing blood loss and enhancing patient outcomes. These advancements also benefit endometriosis treatments and Biliopancreatic diversion surgeries, including duodenal switch procedures. Technological advancements in energy devices and electrical systems have further propelled the market, offering profitable chances for providers and catering to underserved communities such as veterans and minorities. However, challenges like strategic sourcing and ensuring access to medical services for all remain pivotal areas for development in this dynamic healthcare sector.

Market Scope
Report Coverage	Details
Page number	161
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 8.11%
Market growth 2023-2027	USD 4.39 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	7.07
Regional analysis	North America, Europe, Asia, and the Rest of the World (ROW)
Performing market contribution	North America at 36%
Key countries	US, Canada, Germany, UK, and China
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
Key companies profiled	Avateramedical GmbH, B.Braun SE, Becton Dickinson and Co., CMR Surgical Ltd., Conmed Corp., Cook Group Inc., FlexDex Inc., HOYA Corp., Intuitive Surgical Inc., Johnson and Johnson, KARL STORZ SE and Co. KG, Medtronic Plc, Olympus Corp., Peters Surgical, Richard Wolf GmbH, Smith and Nephew plc, Stryker Corp., Teleflex Inc., The Cooper Companies Inc., and Titan Medical Inc.
Market dynamics	Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the market size and its contribution to the market in focus on the parent market
• Detailed market growth analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies' position and classification
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Growth of the market across North America, Europe, Asia, and the Rest of the World (ROW)
• A thorough market research and growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market growth and forecasting analysis of factors that will challenge the growth of market companies

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