The laparoscopic devices market stands as a testament to medical innovation, reshaping the way surgeries are conducted and experienced. Laparoscopic procedures, often referred to as minimally invasive surgeries, involve the use of small incisions and specialized instruments equipped with cameras and lights. This approach contrasts with traditional open surgeries, offering patients reduced pain, quicker recovery, and improved cosmetic outcomes. The market for laparoscopic devices has revolutionized surgical practices across diverse medical disciplines, from general surgery to gynecology and beyond.
The hallmark of laparoscopic procedures lies in their minimally invasive nature. Instead of large incisions, surgeons make small openings through which they insert slender instruments and a tiny camera. This approach reduces trauma to surrounding tissues, leading to less postoperative pain, reduced scarring, and faster healing. Patients benefit from shorter hospital stays and quicker return to their daily activities, marking a significant improvement in their overall surgical experience.
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The global Laparoscopic devices market is expected to grow at a 5.8% CAGR from US$ 12.3 billion in 2022 to US$ 18.4 billion by 2029.
The laparoscopic devices market is projected to experience significant growth during the next decade. On the back of rapid growth in demand for minimally invasive surgery and expanding application potential in colorectal and bariatric surgical procedures.
Increasing FDI influx in developing regions coupled with marketing and promotional activities are expected to boost the laparoscopic devices market over the following years, says the report.
Key Takeaways – Laparoscopic Devices Market Study :
Steady demand growth is observed for bariatric surgery, in line with the expanding obese population coupled with wide-scale adoption rate of minimally invasive techniques. Sales of laparoscopic devices for bariatric surgery will surpassing that for colorectal surgery towards the end of projection period.
Sales of laparoscopic devices will be higher in North American countries. The availability of skilled surgeons and several advantages of minimally invasive surgery over open surgery are few factors driving the market of laparoscopy devices.
The key players in the laparoscopic devices market are focusing on technologically advanced surgical systems with improved dexterity, ergonomics, and visual enhancements that provide advantages to surgeons and minimize the risk for patients while undergoing laparoscopic procedures.
Increasing consumer base along with modern amenities in the healthcare sector is expected to drive sales of laparoscopic devices in developing regions.
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Rising private and foreign investments in the laparoscopic devices market and adoption of subscription commerce marketing model by market players are anticipated to shape the overall laparoscopic devices market.
Adoption of Subscription Commerce Marketing Model :
Companies are adopting various marketing model schemes such as subscription commerce to boost the sale of laparoscopic devices. Under this scheme, companies provide medical devices such as laparoscopy devices on pay-per-use basis. Thus, various end use segments can have access to these devices which might otherwise be prohibitively expensive, which in turn is helping manufacturers to expand their market share for laparoscopic devices, globally.
Due to intense competition, manufacturers of laparoscopic devices use innovative pricing strategies to remain at the forefront. Expanding access of laparoscopic devices by educating healthcare professionals through various conferences and training is enabling companies manufacturing these devices to enhance the adoption and equipping healthcare facilities with the necessary tools to provide optimal care to patients.
Key Companies Profiled :
Olympus Corporation
Braun Melsungen AG
Intuitive Surgical Inc.
Medtronic plc.
Stryker Corporation
Smith & Nephew Plc
CareFusion Corporation
Ethicon US, LLC
KARL STORZ GmbH & Co. KG
Richard Wolf GmbH
Endocontrol SA
Tekno-Medical Optik Surgery GmbH
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Laparoscopic devices market by Category :
By Product:
- Direct Energy System Devices
- Trocars/Access Device
- Internal Closure Devices
- Laparoscopes
- Hand Access Instruments
- Insufflation Devices
- Robotic Assisted Surgical System
By Therapeutic Application:
- Bariatric Surgery
- Colorectal Surgery
- General Surgery
- Gynecological Surgery
- Urological Surgery
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Clinics
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- Middle East and Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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