Laparoscopy Devices Market Key Players Forecast to 2028
The global laparoscopy devices market size was valued at USD 7.0 billion in 2021, growing at a CAGR of 7.1% during the forecast period 2022-2028. Laparoscopy is a surgical procedure performed in which a laparoscope and other equipment are inserted via small incisions in the body, such as the abdominal wall, to allow structures within the internal body cavity to be seen. Various probes or other equipment can also be put into these small skin incisions, allowing for a variety of activities such as diagnosis and treatment. The COVID-19 pandemic is having an impact on many parts of businesses, including product demand, operations, supply chains, distribution networks, and the ability to study and develop new goods. COVID-19 has lowered procedure volumes in almost all firms, since all hospital resources are being directed to combat the disease. Deferrable and semi-deferrable surgeries are being postponed by many hospital settings and government bodies, diminishing demand for the companies' products.
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Through the progressive transition from open surgical procedures to minimally invasive surgery, the introduction of laparoscopic technology has profoundly transformed the field of surgery. The market is primarily being driven by the increasing usage of minimally invasive surgery (MIS). Other factors driving the growth of the laparoscopic devices market include new advancements in surgical technology and an increase in the number of gynaecological and urological operations. Furthermore, due to the high level of precision provided by laparoscopic instruments, these gadgets are highly recommended by physicians and surgeons. Furthermore, the rise in metabolic and bariatric procedures performed globally to lose weight stimulates the growth of the laparoscopic devices market. Furthermore, the expensive cost of these devices, as well as a growing desire for robotic procedures, are projected to limit market growth. In the next years, however, the development of revolutionary laparoscopic devices and the expansion of healthcare markets in emerging nations such as Brazil, Russia, India, China, and South Africa are projected to provide profitable prospects for market competitors.
The global Laparoscopy Devices Market segmentation:
1) By Product type: Laparoscopes, Energy Devices, Insufflators, Suction or Irrigation Systems, Closure Devices, Hand Instruments, Access Devices, Accessories.
2) By Application: General Surgery, Bariatric Surgery, Gynecological Surgery, Urological Surgery, Colorectal Surgery, and Others.
3) By Technology: Traditional Laparoscopy, Robotic Laparoscopy.
4) By End User: Hospitals, Clinics, Ambulatory surgical centers.
North America is expected to lead the global market for laparoscopic instruments. The rising prevalence of obesity, as well as different chronic conditions and the growing use of minimally invasive surgeries in the region, are factors contributing to the region's rapid growth. The benefits of minimally invasive operations, such as less invasiveness, faster patient recovery, and lower treatment costs, have increased demand for laparoscopy devices in the region. In addition, developments in various surgical devices from established key companies in the United States are anticipated to boost the demand in North America.
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Some of the major key players in the Laparoscopy Devices Market are Medtronic, Karl Storz GmbH & Co.KG, Stryker Corporation, Olympus Corporation, B. Braun Aesculap, Richard Wolf GmbH, Smith & Nephew PLC, Ethicon, Inc., Cook Medical Incorporated, ConMed Corporation
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