Laparoscopy Devices Market: Overview
- According to Transparency Market Research’s latest research report on the global laparoscopy devices market for the historical period (2018–2019) and the forecast period (2020–2030), increase in incidence of target conditions for laparoscopic surgery is projected to drive the global laparoscopy devices market in the near future.
- According to the report, the global laparoscopy devices market was valued at US$ 8.5 Bn in 2019 and is anticipated to expand at a CAGR of 6.5% from 2020 to 2030.
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Increase in Number of Minimally Invasive Surgical Procedures Performed: Key Driver of Laparoscopy Devices Market
- Minimally invasive surgery offers a higher accuracy rate compared to traditional open surgery. A significant benefit of minimally invasive surgery is the size of incision. Minimally invasive surgery relies on tiny incisions for the insertion of thin tubes, fiber-optic lights, cameras, and other small surgical tools.
- Surgery with laparoscopy devices has been a highly preferred method of treatment in the past few years among healthcare providers across the world.
- A study conducted at the Johns Hopkins University School of Medicine in Maryland, the U.S., concluded that urban hospitals were performing laparoscopic appendectomies four times more than rural hospitals, and were likely performing 15 times more minimally invasive hysterectomies than rural hospitals.
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- According to the American Congress of Obstetricians and Gynecologists (ACOG), the rate of minimally invasive hysterectomy procedures conducted in the U.S. increased from an estimated 14% in 2004 to 53% in 2013.
- Initiation of robot-assisted surgery could be a key factor driving the number of laparoscopic surgeries performed for different surgeries such as prostatectomy, cancer, hernia repair, and colorectal cancer.
- According to the American Society of Plastic Surgeons, an estimated 20 million surgical procedures were performed across the world in 2014, and 52% of these were minimally invasive surgeries.
- Increase in the number of laparoscopic surgeries performed every year is expected to drive the demand for and subsequent consumption of laparoscopy devices in the global market. This, in turn, is expected to propel the global laparoscopy devices market during the forecast period.
- Accuracy of minimally invasive procedures improved due to the use of camera, enabling a surgeon to have better visualization of internal organs. Awareness among people about the positive effects of adoption of minimally invasive surgery has helped in the propagation of this technique.
- These factors are projected to drive the global laparoscopy devices market during the forecast period
Rise in Number of Gynecological, Urological, and Cardiac Surgery Procedures: Key Driver of Laparoscopy Devices Market
- According to the World Health Organization, 234.2 million major surgical procedures are undertaken every year globally. Surgical services have long been recognized to be essential expensive component of the public health system. Surgery is likely to assume an increasing role in public health due to this epidemiological transition.
- A large population suffers from diseases related to gynecological, urological, and cardiology, which, in turn, increases the number of surgical procedures.
- This factor is expected to propel the demand for laparoscopy devices during the forecast period
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Laparoscopy Devices Market: Competition Landscape
- This report profiles major players operating in the global laparoscopy devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments.
- The global laparoscopy devices market is moderately fragmented, with the presence of a small number of leading players in the international market and several small players in regional markets. The top players hold major share of the global laparoscopy devices market.
Prominent players operating in the global laparoscopy devices market include
- Ethicon US
- LLC (Johnson & Johnson)
- CONMED Corporation
- Aesculap, Inc. (B. Braun company)
- Fujifilm Holding Corporation
- Smith & Nephew
- KARL STORZ
- Olympus Corporation
- Richard Wolf GmbH
- Cook Medical, Inc.
- Boston Scientific Corporation
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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