Acumen Research and Consulting, a global provider of market research studies, in the latest published report titled “Laparoscopic Instruments Market, Global Industry Analysis, Market Size, Opportunities and Forecast, 2021- 2028”
The global laparoscopic instruments market is expected to reach the market value of around US$ 21,970 Mn by 2028 and is anticipated to grow at a CAGR of around 10.5% in terms of revenue during the forecast period 2021-2028.
Laparoscopy is a surgical procedure performed to examine the body parts inside the abdomen by medical practitioners. The procedure requires only a small incision, a low risk, minimally invasive procedure! The laparoscopic procedure includes the use of single devices that operate as one unit. Laparoscope, watering systems, blow-insulation equipment, trocars, retrieval tanks, damper bags, internal locking devices, gastric bands, hand-help equipment, energy systems, and others are the necessary devices for laparoscopy. Laparoscopy can also be used with suitable equipment and accessories for minimally invasive procedures.
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North America Dominates the Market and Expected to do Same in the Forecast Period
The global market for laparoscopy products is predicted to dominate North America. The high growth factors in the region are the growing number of obesity, as well as several chronic diseases, and the widespread adoption of minimally invasive operations in the region. The benefits of minimally invasive treatments, such as reduced signal transfer, faster patient healing time, and low clinical costs, have raised the market for national laparoscopy products. In addition, improvement made by main players in various surgical systems in the US is expected to fuel the development of the North American market.
Increased obesity, increasing gynecological procedures, and technological developments in recent years are some of the major factors that contribute to market growth. For a fact, the growing need for laparoscopic instruments would fuel the number of operations for treatment, which is attributed to the high prevalence of colorectal cancer. Technological advancement has led to better quality imaging and smaller laparoscopic instruments that allow surgeons with reduced bleeding to conduct an exact dissection. The arrival of handheld laparoscopic joints increased the demand for laparoscopic surgery by eliminating the suturing challenges. Furthermore, the continued development of surgical robotic systems in order to minimize the safety, sterility, and adaptation challenges increases the automatic treatment of surgical devices for laparoscopic operations. This will enhance mobility and decrease the cost to surgeons for hand-assured joints, flexible forceps, and robotic equipment by means of new technologies associated with laparoscopic surgical devices.
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Several advantages of laparoscopic procedures over conventional ones will impel the laparoscopic instruments market growth
The assessment for the gynecology application market was approximately USD 3.1 billion in 2019 and substantial improvements in the projected period are expected. This is due to the increasing number of laparoscopic gynecological procedures including tubal ligation, hysterectomy, and ovarian cyst removal. Therefore, the growth of the industry size will be driving the expanded funds for clinical initiatives in gynecology and educational campaigns related to minimally invasive gynecology surgery.
The global laparoscopic instruments market includes prominent players such as Apollo Endosurgery, Ethicon Inc., Boston Scientific, Intuitive Surgical, Medtronic Plc (Covidien), Olympus Corporation, Karl Storz GmbH, Smith & Nephew Inc., Richard Wolf GmbH, CONMED Corporation, Cook Medical Inc., Stryker Corporation, Aesculap, Microline Surgical, and others.
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- In December 2018, ReShape Lifesciences Inc. has been sold by Apollo Endosurgery. The product range includes an adjustable gastric banding system Lap-Band as well as other equipment used for bariatric laparoscopic surgery. Apollo’s focus on its endo-bariatric product offerings was increased by this strategic move.
- In January 2018, a new endoscopic joints technology known as OMNIFinger has been announced by GRENA LTD. That will lead to expanding the company’s product range.
- In October 2018, this strategy will help improve visualization on multiple clinical applications, including women’s health procedures and general operations. Stryker completed an acquisition of Invuity Inc. (U.S). This would help to improve the company’s customer base.
- Venture capitalists
- Endoscopes and related devices manufacturing companies
- Hospitals, diagnostic centers, and medical colleges
- Suppliers and distributors of laparoscopic instruments
- Independent surgeons and private offices of physicians
- Teaching hospitals and academic medical centers (AMCs)
- Ambulatory surgical centers (ASC)
- Government bodies/municipal corporations
- Business research and consulting service providers
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