The global laparoscopic devices market demand is projected to grow from a US$12.3 billion valuation in 2022 to a US$18.4 billion valuation by 2029, with a CAGR of 5.8%.
The laparoscopic devices market is projected to experience significant growth during the next decade. On the back of rapid growth in demand for minimally invasive surgery and expanding application potential in colorectal and bariatric surgical procedures.
Increasing FDI influx in developing regions coupled with marketing and promotional activities are expected to boost the laparoscopic devices market over the following years, says the report.
Key Takeaways – Laparoscopic Devices Market Study
- Steady demand growth is observed for bariatric surgery, in line with the expanding obese population coupled with wide-scale adoption rate of minimally invasive techniques. Sales of laparoscopic devices for bariatric surgery will surpassing that for colorectal surgery towards the end of projection period.
- Sales of laparoscopic devices will be higher in North American countries. The availability of skilled surgeons and several advantages of minimally invasive surgery over open surgery are few factors driving the market of laparoscopy devices.
- The key players in the laparoscopic devices market are focusing on technologically advanced surgical systems with improved dexterity, ergonomics, and visual enhancements that provide advantages to surgeons and minimize the risk for patients while undergoing laparoscopic procedures.
- Increasing consumer base along with modern amenities in the healthcare sector is expected to drive sales of laparoscopic devices in developing regions.
Rising private and foreign investments in the laparoscopic devices market and adoption of subscription commerce marketing model by market players are anticipated to shape the overall laparoscopic devices market.
Adoption of Subscription Commerce Marketing Model
Companies are adopting various marketing model schemes such as subscription commerce to boost the sale of laparoscopic devices. Under this scheme, companies provide medical devices such as laparoscopy devices on pay-per-use basis. Thus, various end use segments can have access to these devices which might otherwise be prohibitively expensive, which in turn is helping manufacturers to expand their market share for laparoscopic devices, globally.
Due to intense competition, manufacturers of laparoscopic devices use innovative pricing strategies to remain at the forefront. Expanding access of laparoscopic devices by educating healthcare professionals through various conferences and training is enabling companies manufacturing these devices to enhance the adoption and equipping healthcare facilities with the necessary tools to provide optimal care to patients.
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Laparoscopic Devices Market, a new study from Future Market Insights, opines on the evolution of the laparoscopic devices market from 2014 – 2018 and presents demand projections from 2019 – 2029 on the basis of product type (direct energy system devices, trocars/access device, internal closure devices, laparoscopes, hand access instruments, insufflation devices, and robotic assisted surgical system), therapeutic application (bariatric surgery, colorectal surgery, general surgery, gynecological surgery and urological surgery), and end user (hospitals, ambulatory surgical centers, and clinics) across seven major regions.
Key Companies Profiled
- Olympus Corporation
- Braun Melsungen AG
- Intuitive Surgical Inc.
- Medtronic plc.
- Stryker Corporation
- Smith & Nephew Plc
- CareFusion Corporation
- Ethicon US, LLC
- KARL STORZ GmbH & Co. KG
- Richard Wolf GmbH
- Endocontrol SA
- Tekno-Medical Optik Surgery GmbH
Laparoscopic devices market by Category
- Direct Energy System Devices
- Trocars/Access Device
- Internal Closure Devices
- Hand Access Instruments
- Insufflation Devices
- Robotic Assisted Surgical System
By Therapeutic Application
- Bariatric Surgery
- Colorectal Surgery
- General Surgery
- Gynecological Surgery
- Urological Surgery
By End User
- Ambulatory Surgical Centers