Increasing incidences of chronic diseases, growing popularity of minimally invasive surgical techniques, and rising geriatric population are some key factors expected to drive market growth
According to Emergen Research, the global laparoscopy and endoscopy devices market size was USD 20.13 Billion in 2019 and is expected to reach USD 28.30 Billion in 2027 and register a revenue CAGR of 4.3% during the forecast period, 2020-2027.
Market Dynamics:
Diagnostic laparoscopy or laparoscopy is a surgical procedure that examines the organs inside the abdomen. It is a low-risk, minimally invasive technique that just necessitates a few minor cuts. During laparoscopy, the abdominal organs are examined using a laparoscope. A laparoscope is a thin, long tube having a high-resolution camera at the front which sends images to a video monitor, when inserted in the abdominal wall through an incision. Endoscopy is rapidly being used in large scale to diagnose and treat a numerous serious illnesses, including orthopaedic problems, cancer, neurological diseases, and gastroesophageal reflux disorder. According to World Health Organization (WHO), in 2018, 9.6 million individuals globally are estimated to have died from cancer. This has been boosting demand for laparoscopy and endoscopy devices due to increase in number of cancer surgeries and is expected to drive market revenue growth during the forecast period.
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In addition, growing geriatric population, increasing demand for laparoscopic procedures, and technological advancements in endoscopic devices are other factors expected to drive market revenue growth during the forecast period. However, lack of trained surgical professionals, high cost of treatment, unfavorable government regulations, risks associated with laparoscopy are some factors that can restrain market growth to a certain extent during the forecast period. The most common risks of laparoscopy include persistent cough, inability to urinate, fevers or chills, shortness of breath and lightheadedness.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Gastrointestinal Surgery Segment Revenue to Expand at a Rapid CAGR:
Gastrointestinal surgery segment is expected to register a rapid revenue CAGR over the forecast period due to rising healthcare spending, growth in robotics gastrointestinal surgical procedures, increasing cases of colorectal cancer (CRC) in younger adults and huge R&D investments in minimally invasive gastrointestinal surgical systems.
Hospitals & Clinics Segment to Register Significant Revenue Growth:
Hospitals & clinics providers segment is expected to register significant revenue growth over the forecast period owing to rapid improvements in healthcare infrastructure, medical tourism in developed and developing countries, increasing government budget allocation in hospitals and clinics for better patient services and rising incidence of target diseases.
North America to Account for Largest Revenue Share:
North America is expected to account for largest revenue share in the global market over the forecast period due to growing demand for minimally invasive surgeries, rising incidences of chronic diseases, and technological advancements in laparoscopy and endoscopy. Further, presence of key players and increasing demand for improving diagnostic accuracy are some other factors expected to contribute to market growth in the region.
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Major Companies in the Market Include:
- Stryker Corporation
- Fujifilm, Smith & Nephew PLC
- Cook Medical
- Boston Scientific
- Braun Melsungen
- Olympus
- Medtronic
- Karl Storz
- Hoya Corporation
For the purpose of this report, Emergen Research has segmented the laparoscopy and endoscopy devices market on the basis of device type, application, end-users, and region:
Device Type Outlook (Revenue, USD Billion; 2017-2027)
- Laparoscopy Device
- Endoscopy Device
Application Outlook (Revenue, USD Billion; 2017-2027)
- Gastrointestinal Surgery
- Cardiac Surgery
- Gynecology Surgery
- Orthopedic Surgery
- Urologic Surgery
- Neurological Surgery
- Others
End-Users Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Others
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- France
- K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- A.E.
- South Africa
- Turkey
- Rest of MEA
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