“Increasing preference for nominally invasive procedures and growing cases of colorectal cancer drives the growth of the global laparoscopy devices market.”
The global laparoscopy devices market generated $12.06 billion in 2019, and is estimated to reach $18.90 billion by 2027, registering a CAGR of 5.8% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Increasing preference for nominally invasive procedures and growing cases of colorectal cancer drive the growth of the global laparoscopy devices market. However, higher cost associated with laparoscopic devices is expected to restrain the growth of the market. On the other hand, growing adoption of robotic laparoscopy devices will create new opportunities in the market during the forecast period.
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- Market players involved in manufacturing of laparascopy devices have shut down their operations amid lockdown due to Covid-19 pandemic, resulting in decline of production of laparoscopy devices.
- Laparoscopy device manufacturers having presence in China and India have huge opportunity to grow and generate maximum revenue during COVID-19 pandemic as governments of these countries are now lifting the lockdown to start the industrial manufacturing.
The report offers a detailed segmentation of the global laparoscopy devices market based on product, application, end-user, and region.
Based on product, the energy devices segment contributed to the largest share in 2019, holding nearly one-fourth of the total share, and is estimated to maintain its dominant position during the forecast period. However, robot-assisted surgical systems segment is estimated to portray the highest CAGR of 6.8% during the forecast period.
Based on end-user, the hospital segment accounted for the largest share in 2019, holding nearly half of the total share, and is expected to maintain the largest share throughout the forecast period. However, the clinic segment is expected to register the highest CAGR of 6.0% from 2020 to 2027.
Based on region, North America contributed the highest share, accounting for more than one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 6.8% from 2020 to 2027.
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Frontrunners in the industry-
Boston Scientific Corporation, B. Braun Melsungen AG, ConMed Corporation, Boston Scientific Corporation, Karl Storz SE & CO. KG, Johnson & Johnson, Olympus Corporation, Medtronic plc (Covidien), Smith & Nephew plc, Richard Wolf GmbH, and Stryker Corporation.
Scope of The Report:
|Market size available for years||2019-2027|
|Base year considered||2020|
|Forecast units||Value (USD)|
|Segments covered||Product, Application, and End User|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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