Market Overview
As per the assessment conducted by Market Research Future (MRFR), the Global Market for Laparoscopy Devices Market is expected to acquire the market value of USD 17,206.32 Million while expanding at a CAGR of 8.30% by 2023. The growing funding and favorable reimbursement policies are predicted to play a salient role in steering the global market during the review timeframe.
Laparoscopy Devices Market Overview
Market Research Future (MRFR) analyzed the Global Laparoscopy Devices Market 2020 across the assessment period till 2023. From 2015 to 2023, the laparoscopy device market can expand at 8.30% CAGR. By 2023, the laparoscopy device market can value at USD 17,206.32 Mn. Activities in operation theaters require modifications due to COVID 19 pandemic. Rise in cases of laparoscopy and increase in demand for surgery laparoscopy devices and suction irrigation devices among others, under regulated conditions, can support the laparoscopic instruments market growth. Start-ups are introducing innovations, such as; robot-enabled single incision surgeries and portable surgical to maintain proper hygiene.
Laparoscopy Devices Market Segmentation
The segment study of the laparoscopy devices market is based on application, product, and end-users.
The product-based segments of the global laparoscopic device market size are energy devices, laparoscopes, insufflation devices, handheld instruments, suction/irrigation devices, access devices, trocars, and internal closure devices among others. The Laparoscope is the leading segment that can earn about USD 5091.77 Mn by 2023. Increase in number of start-ups dealing in laparoscopy instruments, enabled by modern robotics platform, can work in favor of the market.
The application-based segments of the global laparoscopy devices market are bariatric surgery, general surgery, gynecological surgery, colorectal surgery, and urological surgery among others. The general surgery segment can rise at 7.79% CAGR across the review tenure. Cholecystectomies, appendectomies, hernia repairs, and anti-reflux surgeries among others are included in the study of general surgery. The sub-segments of the Bariatric surgery are gastric banding, gastric bypass, and sleeve gastrectomy among others.
The end user-based segments of the laparoscopy devices market are ambulatory centers, specialty centers, and hospitals and clinics. The hospitals & clinics segment can hold about 38.11% market share by 2023. The adoption of modern ambulatory surgical solutions can benefit the market.
Laparoscopy Devices Market Regional Analysis
The Americas laparoscopy device market can secure the largest share in the worldwide market. The high GDP per capita income and expansion of ageing group that is highly prone to degenerative ailments, creating the need for diagnosis and therapeutics can support the regional market.
In Europe, the laparoscopy devices market can register rapid growth pace due to driving factors, such as; increase in cancer patients, laparoscopy advancements, availability of modern treatment facilities, and introduction of integrated and advanced monitoring devices. The presence of sturdy healthcare base can support market expansion.
In Asia Pacific, the laparoscopy devices market can earn about USD 4205.58 Mn by 2023. huge patient populace and introduction of disruptive technology can favor market growth.
The market of laparoscopy devices in the Middle East Asia and Africa can expand at slow rate. Africa is anticipated to hold least market share due to poor sociopolitical conditions. Limited availability medical facilities and of funds can hinder the regional market expansion.
Laparoscopy Devices Market Key Players
Becton, Dickinson and Company (US), B. Braun Melsungen AG (Germany), Smith & Nephew PLC (UK), Medtronic PLC (US), Fujifilm Holdings Corporation (Japan), Cook Medical LLC (US), Olympus Corporation (Japan), Stryker Corporation (US), Richard Wolf GmbH (Germany), and KARL STORZ SE & Co. KG (Germany) among others are some well-established companies that are studied by MRFR to gain insights into the competitive structure of the laparoscopy devices market.
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