Laparoscopy Device Market was Valued at US$ 6.2 Bn in 2018

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Global Laparoscopy Device Market was Valued at US$ 6.2 Bn in 2018, Owing to Increasing Prevalence of Morbid Obesity

Analyst Speak:

“The Global Laparoscopy Device Market was valued at US$ 6.2 Bn in 2018 and is expected to grow at a significant CAGR over six years forecast period 2019-2025 owing to increasing prevalence of morbid obesity”

Precision Business Insights (PBI) in its report titled “Global Laparoscopy Device Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2018 and Forecast 2019-2025” assesses the market performance over six years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.

The global laparoscopy device market was valued at US$ 6.2 Bn in 2018 and growing at a CAGR of 7.0% over the forecast period owing to growing number of patients suffering from gall bladder problem, crohn’s diseases, ulcerative colitis, diverticulitis and obesity are few factors driving the market. Laparoscopy is a minimally invasive technique used for performing surgeries, such as bariatric, gynecologic, and gall bladder surgery. Moreover, increasing prevalence of morbid obesity and launch of technologically developed products are expected to fuel the growth of the market. However, lack of skilled professionals for laparoscopic procedures and post-operative risks associated with laparoscopy restrict the market growth

Global laparoscopy device market segmented on the basis of product type, application, end user, and region.

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Robot-assisted devices segment accounted for higher revenue share

Based on product type, global laparoscopy device market segmented Laparoscopes, Energy Devices, Insufflators, Robot-Assisted Surgery Systems, Suction or Irrigation Systems, Closure Devices, Hand Instruments, Access Devices, Accessories, and Others. Robot-assisted devices segment market accounted US$ XX Mn in 2018 and projected to dominate over the forecast period owing to improved patient care services and launch of new products in the market are expected to drive the growth of the market.

North America is expected to dominate Global Laparoscopy Device Market

PBI’s global laparoscopy device market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to regional analysis, North America is expected to account for larger revenue share in 2018 and the same trend is projected to follow over 2019-2025 owing to rising prevalence of colorectal cancer, obesity and growing awareness among the population regarding the laparoscopic treatment. Moreover, rapid adoption of technologically advancements, such as energy systems, in the region is expected to drive the market. Favorable reimbursements for the newly approved devices for improved quality of vision and treatment procedure is also positively affecting the laparoscopic devices market growth.

Key Developments

• For instance, in 2017, Medtronic launched its composite mesh for surgical laparoscopic and open ventral hernia repair for improved visualization of anatomy during mesh placement over the hernia defect.

Key player’s profiles in the report are Medtronic PLC, Karl Storz GmbH, Stryker Corp., Johnson and Johnson Services, Inc., CONMED Corp., and Olympus Corp

Detailed Segmentation

By Product Type

• Laparoscopes
• Energy Devices
• Insufflators
• Robot-Assisted Surgery Systems
• Suction or Irrigation Systems
• Closure Devices
• Hand Instruments
• Access Devices
• Accessories
• Others
• 
  General Surgery
  Cholecystectomies
  Hernia Repairs
  Appendectomies
  Anti-Reflux Surgeries
  Others
  
  
• 
  Bariatric Surgery
  Gastric Bypass
  Sleeve Gastrectomy
  Gastric Banding
  Others
  
  
• Gynecological Surgery
• Urological Surgery
• Colorectal Surgery
• Others
• Hospitals
• Clinics
• Others
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa (MEA)

By Application

By End User

Geography

North America

• US
• Canada

Europe

• Germany
• France
• UK
• Italy
• Spain
• Russia
• Poland
• Rest of Europe

Asia-Pacific

• Japan
• China
• India
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Argentina
• Rest of Latin America

Middle East and Africa (MEA)

• Gulf Cooperation Council (GCC) Countries
• Israel
• South Africa
• Rest of MEA

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