Laparoscopy Market Revenue, Business Challenges 2023
The global laparoscopy market size was valued at USD 12,217.3 million in 2022 and is projected to grow at a 5.8% CAGR during the forecast period 2023 to 2029. The increasing demand for less invasive operations is expected to benefit the sector throughout the review period. Growing awareness of minimally invasive operations is expected to enhance adoption, which is expected to be a critical element in driving market expansion over the forecast timeframe. Furthermore, increased financing and favourable policies supplied by various governments are expected to greatly boost the industry. Furthermore, the growing elderly population is expected to be a significant driver supporting market development in the future.
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The global endoscopy equipment market segmentation:
1) By Product: Laparoscopes, Energy devices, Insufflators, Suction/ Irrigation Systems, Closure Devices, Hand Instruments, Access devices, Accessories
2) By Application: Gynecological Surgery, General Surgery, Urological Surgery, Colorectal Surgery, Bariatric Surgery, Pediatric Surgery
3) By End-User: Hospitals, Clinics, Ambulatory Surgical Centers [ASC].
The laparoscopes segment is expected to account for a larger revenue share and the market is expected to grow at double digit growth rate over the forecast years owing to increase use of laparoscopic procedures in the surgical treatment of benign and malignant entities is becoming more common, resulting in a constant evolution of operative techniques. Because one of the goals of laparoscopic colorectal surgery is to limit access trauma, one option is to use the single-incision laparoscopic surgery (SLS) approach to further reduce the surgical site. In the last few years, laparoscopic techniques, and the reduction of incisional trauma in colon surgery have advanced fast. Single-incision laparoscopic surgery, which evolved from the natural orifice surgical method, has established itself as a minimally invasive platform. If the newly created access platforms are used, the SLS can be performed using standard straight laparoscopic instruments.
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North America is expected to hold significant market share in the global Laparoscopy market and is projected to grow at a prominent growth rate over the forecast years owing to the increased incidence of chronic diseases, as well as the increasing acceptance of non-invasive or minimally invasive surgical procedures are driving the growth of the North America laparoscopy devices market. Furthermore, the presence of major industry players is paving the way for the growth of the region's laparoscopic devices market.
The global laparoscopy market key players are Intuitive Surgical (US), Stryker Corporation (US), Olympus Corporation (Japan), Karl Storz GmbH & CO. KG (Germany), Medtronic PLC (Ireland), Microcline Surgical, Inc. (US), B. Braun Melsungen AG (Germany), SCHÖLLY Fiberoptic GmbH (Germany), Optomic (Spain), Victor Medical Instruments Co., Ltd (China), Peters Surgical (France).
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