Laparoscopic Devices Market Global Future Estimation, Insight and Complete Strategic Analysis 2021-2030

The Laparoscopic Devices Market size was valued at USD 12.88 billion in 2020 and is predicted to reach USD 63.41 billion by 2030 with a CAGR of 17.3% from 2021-2030.

Laparoscopy is a surgical procedure performed by medical professionals to examine the organs inside the abdomen. This is a low-risk, minimally invasive surgery that requires only a small incision. The laparoscope consists of a long but thin tube with high-intensity light and a high-resolution camera in the front. As it passes through the abdomen, the camera transmits the image to the monitor. The necessary equipment to perform laparoscopy is laparoscopes, irrigation system, inflation set, trocar, sample collection bag, wound protector, internal closure device, gastric band, manual assist device, and power system, among others. Laparoscopy is generally used for operations involving the pancreas, stomach, intestines, and bile ducts. Laparoscopy is also used to diagnose and treat endometriosis, ectopic pregnancy, pelvic inflammatory disease (PID), cysts, and fibroids. The use of laparoscopic devices during surgery ensures minimal bleeding and helps maintain haemostasis. Compared to the common open surgery, in laparoscopic surgery patients have many advantages such as reduced pain due to smaller incisions, less bleeding, and needs shorter recovery time.

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Top Companies: Intuitive Surgical, Inc., Stryker Corporation, TransEnterix Inc., Olympus Corporation, Karl Storz GmbH & CO. KG, Medtronic PLC, Microline Surgical, Inc., B. Braun Melsungen AG, SCHOLLY Fiberoptic GmbH, Optomic, Victor Medical Instruments Co., Ltd, LIVSMED, Peters Surgical, EndoMed Systems GmbH, Becton, Dickinson and Company, Mindray Medical International Limited, CONMED Corporation, Richard Wolf GmbH, Smith & Nephew PLC, Cook Medical, Ethicon, Strauss Surgical and AMNOTEC International Medical. and others.

The laparoscopic device market is segmented on the basis of product, application, end user and geography. Based on product, the laparoscopy devices market can be categorized into medical laparoscopic robots, laparoscopes, energy devices, hand instruments, closure devices, access devices, accessories, insufflators, and suction pumps. Based on application, the laparoscopy device can be categorized into general surgery, gynaecological surgery, colorectal surgery, bariatric surgery, urological surgery and pediatric surgery. Based on end user, the laparoscopy device market can be categorized into hospitals and ambulatory surgical centers. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia Pacific, and Rest of the World.

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North America holds the lion share of laparoscopic surgical devices market during the forecast period. This is attributed to the factors such as developed healthcare industry, prevalence of gastrointestinal & abdominal diseases, and rise in geriatric population in the region. Also, rising awareness regarding laparoscopic procedures and the benefits of minimally invasive surgeries are expected to propel the market growth. Moreover, increasing healthcare expenditure in this region is expected to contribute towards the growth of the market in this region. For instance, according to Centres for Medicare and Medicaid Services, in 2019, U.S. health care spending increased by 4.6% and reached almost USD 3.8 trillion, accounting for approximately 17.7% of the GDP.

However, Asia-Pacific is expected to show a steady rise in the laparoscopic surgery devices market owing to large population base, developed healthcare facilities and access to cost-effective laparoscopic procedures. The Chinese and Indian markets in this region will be mainly driven by increased surgeries, while revenue growth in Australia and South Korea will be the result of the adoption of advanced products, especially in the field of equipment, internal closure devices and laparoscopy.

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