Laparoscopy Devices Market Worth $21.83 Billion by 2030 at

2022-11-07 16:27:52 By : Ms. Jane Bian

June 14, 2022 10:54 ET | Source: STRATEGIC MARKET RESEARCH LLP STRATEGIC MARKET RESEARCH LLP

New York, United States, June 14, 2022 (GLOBE NEWSWIRE) -- Laparoscopy devises Market Worth $21.83 Billion by 2030 at a CAGR of 7.81%

Global Laparoscopy Devices Market accounted for up to USD 10.83 billion in 2020 and is likely to reach around USD 21.83 billion by 2030, fostering at a CAGR of 7.81%. The rising prevalence of chronic or NCD (non-communicable diseases) and the rising awareness of undergoing minimally invasive surgeries among patients worldwide are augmenting the market growth.  

Laparoscopy is regarded as a process that helps to diagnose some of the most critical conditions that develop inside the pelvis or abdomen. It is also used to perform surgical procedures, like a biopsy, removal of a damaged or diseased organ, etc. Laparoscopy devices are widely used in minimally invasive surgical procedures as it reduces the risk of extra bleeding and also assist in the proper maintenance of hemostasis. These devices are implemented in the surgery of various diseases like pancreatic cancer, gastrointestinal disorders, prostatectomy, cholecystectomy, etc. Moreover, the Laparoscopy devices are highly preferred by the surgeons due to the higher level of precision offered by these devices as compared to others. For End-User, the ‘Hospital’ segment significantly led the market growth with a share of nearly 61.6%. In terms of region, the territory of North America continued its sheer dominance throughout the period (2020-2030) with a share of around 34.6% of the entire market.

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The report crafted by Strategic Market Research (STRATEGIC MARKET RESEARCH) on the Laparoscopy Devices Market is segregated based on:

Ø Fibre Laparoscopes Ø Energy Devices Ø Video Laparoscopes Ø Closure Devices Ø Medical Laparoscopic Robots Ø Access Devices Ø Accessories Ø Hand Instruments Ø Suction/Irrigation Pumps Ø Insufflators

Ø Gynaecological Surgery Ø General Surgery Ø Pediatric Surgery Ø Bariatric Surgery Ø Urological Surgery Ø Colorectal Surgery

Ø Ambulatory Surgical Centers Ø Hospitals Ø Clinics Ø Others

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The most prominent factors spearheading the market growth:

For Type of Product, the ‘Energy Devices’ segment spearheaded the market growth.

In terms of Type of Product, the market is significantly demarcated into (Fibre Laparoscopes, Energy Devices, Video Laparoscopes, Closure Devices, Medical Laparoscopic Robots, Access Devices, Accessories, Hand Instruments, Suction/Irrigation Pumps and Insufflators). The ‘Energy Devices’ segment led the market growth comprehensively in 2020 with an overall share of around 21.51%, owing to the rise in the number of colorectal cancer cases. The World Cancer Research Fund International (WCRFI) announced that colorectal malignancy is the 3rd most common type of cancer among men and women, and in 2020, around 1.9 million new cases of colorectal cancer were recorded. Also, the American Cancer Society, on the other hand, asserted that in 2020 around 1,880,725 people in the USA were diagnosed with colorectal cancer, out of which 1,148,515 cases were of colon cancer, and 732,210 cases constituted rectal cancer, respectively.

In the case of Applications, the ‘General Surgery’ segment proliferated the market growth in 2020 with the highest share.

Based on Applications, the market is sub-divided into Gynaecological Surgery, General Surgery, Pediatric Surgery, Bariatric Surgery, Urological Surgery, and Colorectal Surgery. The ‘General Surgery’ segment led the market growth in 2020 with a share of approximately 22.8% and a CAGR of 7.79% due to the rise in the number of patients suffering from a hernia, increasing cases of surgical removals of gall bladder and appendix. Hernia repair is a common surgical procedure conducted in the United States. Nearly 1 million hernia repair surgeries are conducted all across the country each year out of which 800k are related to the repair of inguinal hernias, and the rest 200k are other types of hernias.

For End-User, the ‘Hospital’ segment successfully led the market growth.

For End-User, the market bifurcation is done on the basis of Ambulatory Surgical Centers, Hospitals, Clinics, and Others. The ‘Hospital’ segment dominated with a mammoth share of around 61.6% in 2020. Due to the relative ease of handling emergencies and the availability of a broad range of treatment options, the hospitals have witnessed a greater flow of patient admissions for laparoscopic surgeries over the years, which in turn is augmenting the growth of this segment.

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North America dominated the market significantly throughout the prevised time frame of 2020-2030.

In 2020, North America led the regional market growth constituting up to 34.6% of the total sales of laparoscopic devices. The increase in expenditure towards the healthcare sectors, the presence of highly skilled surgeons, and the continuous rise of chronic illnesses like obesity, diabetes, and cancer are driving the market growth of this region. The CDC has reported that in the USA, the overall expenditure for obesity-related medical devices sums up to USD 150 billion each year. Further, research conducted at Harvard University revealed that 1 out of every 3 individuals in America suffers from obesity, thereby accounting for up to 36% of the total US population.

List of some pivotal players prevailing in the Laparoscopy Devices Market:

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