Laparoscopy is a minimally invasive surgical procedure that is carried out through a keyhole incision. Surgeons can navigate customized laparoscopic instruments to the target location and perform surgery using a small camera and a light source coupled to a tube. This procedure is mostly used for surgeries involving the colon, pancreas, bile duct, and liver.
Statistics:
The global laparoscopic devices market was worth US$ 10,150.2 million in 2019 and is expected to be worth US$ 16,854.3 million by the end of 2027.
Global Laparoscopic Devices Market: Drivers
The increased need for minimally invasive medical procedures, as well as the improving efficiency of laparoscopic procedures, are expected to drive the global laparoscopic market growth during the forecast period. Rather than the enormous incisions necessary for open surgery, laparoscopic surgery employs long pencil-like devices that enter through minor cuts in the abdominal wall.
Furthermore, the rising frequency of colorectal cancer is expected to drive growth in the global laparoscopic devices market. For instance, colorectal cancer is the second most common cancer in females, and the third most prevalent cancer in males according to the World Cancer Research Fund. In 2018, there were around 1.8 million new cases.
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North America accounted for the largest share in the global laparoscopic devices market in 2019, contributing for 31.5 % of market share, trailed by Europe.
Global Laparoscopic Devices Market: Restraints
The high price of laparoscopic devices is expected to hinder the global laparoscopic devices market growth during the forecast period. Laparoscopic surgery employing robotic-assisted equipment may cost US$ 1,600 more than traditional laparoscopic surgeries. Robotic-assisted laparoscopic operations are more costly than traditional laparoscopic and open surgical techniques. Each unit may cost between US$ 1 million and US$ 2.5 million.
Furthermore, a shortage of trained laparoscopic surgeons is expected to hamper the global laparoscopic devices market growth during the forecast period. Serious injuries can arise during trocar placement if it is not done carefully, such as blood vessel penetration, abdominal wall hematoma, umbilical wound infection, and large bowel penetration.
Global Laparoscopic Devices Market: Opportunities
Obesity’s increased incidences are expected to provide lucrative growth prospects for the market players. For instance, according to MedAlertHelp.org, around 1.9 billion individuals globally are overweight.
Furthermore, rising healthcare expenditure is expected to drive the global laparoscopic devices market growth during the forecast period. According to the Centers for Medicare & Medicaid Services (CMS), health expenditures in the U.S. Is expected to rise to a 5.5 % annual rate from 2018 to 2027, reaching around US$ 6.0 trillion by 2027.
The global laparoscopic devices market’s direct energy system devices sub-segment was worth US$ 3,029.1 Million in 2018 and is expected to reach US$ 5,886.1 Million by 2027 growing at a CAGR of 7.6 % over the forecast period.
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Market Trends/Key Takeaways
Micro-laparoscopy is a new technique used in laparoscopic procedures in which standard laparoscopic instruments (sized 10–12 mm) are substituted by newly created laparoscopic instruments with diameters of less than 3 mm. Micro-laparoscopes minimize the need for single-site incisions, allowing surgeons to do procedures with only a needle stick, resulting in less post-operative pain for individuals.
When opposed to traditional methods of laparoscopic treatments, which include making four to five small incisions as the entry point for laparoscopic equipment, the use of single-site incision surgery has increased dramatically. Single-site incision laparoscopic surgeries provide several advantages, such as faster recovery, lower risk of infection, less post-operative pain, and good cosmetic results.
Regulations:
North America
- According to the U.S. FDA, laparoscopic devices fall under class-I category of medical devices. Limitations of laparoscopic device exemptions are covered under Code for Regulations Title 21, parts 862–892.
- According to the U.S. FDA, laparoscopic devices are not eligible for third-party review and do not fall under life-sustain/supportive device type
Global Laparoscopic Devices Market: Competitive Landscape
Key players contributing to the global laparoscopic devices market are Gordian Surgical Ltd., Ethicon US, LLC, Medtronic plc., Tekno-Medical Optik Surgery GmbH, CareFusion Corporation, Stryker Corporation, 270Surgical Ltd., Smith & Nephew Plc., Intuitive Surgical Inc., Richard Wolf GmbH, B. Braun Melsungen AG, KARL STORZ GmbH & Co. KG, Olympus Corporation, and Endocontrol SA.
Global Laparoscopic Devices Market: Key Developments
Major market players are concentrating on product approval and launch in order to grow their product offerings. For instance, 270Surgical Ltd. announced in November 2019 that its SurroundScope System had received U.S. Food and Drug Administration 510(k) clearance, making it the first laparoscopic camera system with a 270-degree field-of-view (FoV).
Major market players are involved in raising funding for product commercialization. For instance, Gordian Surgical Ltd. raised US$ 3 million in October 2019 to commercialize their TroClose 1200 access-closure device for laparoscopic surgery.
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Table of Contents
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Therapeutic Application
- Market Snippet, By End User
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Key Developments
- Technological Advancement
- Regulatory Scenario
- Market Dynamics
- Global Laparoscopic Devices Market, By Product Type, 2017 – 2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2019–2027
- Segment Trends
- Direct Energy System Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Trocars/Access Device
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Internal Closure Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Laparoscopes
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Hand Access Instruments
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Insufflation Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Robotic Assisted Surgical System
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Introduction
- Global Laparoscopic Devices Market, By Therapeutic Application, 2017 – 2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2019–2027
- Segment Trends
- Bariatric Surgery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Colorectal Surgery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- General Surgery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Gynecological Surgery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Urological Surgery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Introduction
- Global Laparoscopic Devices Market, By End User, 2017 – 2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2019–2027
- Segment Trends
- Hospitals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Ambulatory Surgical Centers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Clinics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Introduction
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