Product ID: SQMIG35A2422
Global Laparoscopic Instruments Market Size, Share, Growth Analysis, By Product(Laparoscopes, Video laparoscopes), By Application(Gynecology surgery, Urological surgery), By End use industry(Hospitals, and Ambulatory surgical centers) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2422 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
100 |
Figures:
70
Global Laparoscopic Instruments Market Insights
Laparoscopic Instruments Market size was valued at USD 12.3 billion in 2021 and is poised to grow from USD 13.84 billion in 2022 to USD 35.50 billion by 2030, growing at a CAGR of 6% in the forecast period (2023-2030).
The growth of the global laparoscopic surgery market is attributed to several factors, including the increasing incidence of obesity across all age groups, the rapidly growing geriatric population in the Asia Pacific region, and quick technological improvements. However, the COVID-19 pandemic has posed challenges to the global healthcare industry, impacting laparoscopy as well. Surgeries have been postponed or canceled to reduce virus transmission, leading to inadequate care for patients with other diseases. Nevertheless, key players are adapting to the situation by expanding regionally, establishing new warehouses, and diversifying their supply chain strategies. Despite these challenges, the preference for laparoscopic surgery over conventional methods, due to its numerous benefits, is expected to drive market growth. Factors like the rising prevalence of health issues such as uterine fibroids and endometriosis, along with increasing hysterectomy and myomectomy procedures, and improving healthcare infrastructure in emerging economies, are fueling the demand for laparoscopic devices. Additionally, the growth of the laparoscopic devices market is being boosted by supportive government policies and laws in various countries. Some regions also offer favorable reimbursement policies, driving the sales of laparoscopic power morcellators. The expanding applications of laparoscopic devices are driven by the increasing elderly population globally and the improved availability and affordability of energy systems. In particular, laparoscopic devices with energy systems are finding lucrative uses in various bariatric surgeries, including gastric bypass, sleeve gastrectomy, adjustable gastric band, and biliopancreatic diversion with duodenal switch.
Moreover, the rising preference for minimally invasive laparoscopic equipment is a key driver propelling the market forward. Minimally invasive surgical methods are gaining popularity due to reduced trauma and quicker recovery times. Major players in the industry, such as Olympus, are continuously innovating and introducing advanced technologies, such as 3D and infrared capabilities, to enhance surgical imaging platforms. This allows hospitals and surgical centers to improve efficiency and reduce costs. Health insurance companies in some countries are now covering a significant portion of laparoscopic procedures, further encouraging patients to opt for minimally invasive surgeries.
US Laparoscopic Instruments Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global Laparoscopic Instruments Market Segmental Analysis
The global laparoscopic instruments market is segmented on the basis of Product, Application, End-use, and Region. Based on Product the market is segmented as, Laparoscopes, Video laparoscopes, Fiber laparoscopes, Energy Devices, Insufflators, Suction systems, Closure devices, Hand instruments, Access devices, and Laparoscopic Accessories. Based on Application the market is segmented as, Gynecology surgery, Urological surgery, Colorectal surgery, Bariatric surgery, General surgery, Pediatric surgery, and others. Based on End-use the market is segmented as, Hospitals, and Ambulatory surgical centers. Based on Region the market is segmented as, North America, Europe, Asia Pacific, and Latin America.
Laparoscopic Instruments Market Analysis By Product
The energy devices segment dominated the laparoscopic devices market, capturing the largest revenue share of approximately 21.1% in 2022. These systems play a crucial role in laparoscopic surgeries by allowing rapid tissue and vessel sealing, transection, and coagulation. They find extensive application in bariatric surgeries, such as gastric bypass, sleeve gastrectomy, adjustable gastric band, and biliopancreatic diversion with duodenal switch. The growing number of bariatric surgeries performed globally, as reported by the IFSO Global Registry, is expected to drive market growth during the forecast period.
On the other hand, the insufflation device segment is projected to witness the highest CAGR of 7.9% over the forecast period. Insufflation devices are essential for safe and efficient persufflation with humidified carbon dioxide in the abdominal cavity during laparoscopic procedures. The increasing incidence of diseases like colorectal cancer is a key factor fueling the demand for insufflation devices. Colorectal cancer, being one of the most common cancers globally, often requires laparoscopic surgery for treatment. This rising prevalence of colorectal cancer is expected to propel the growth of the insufflation device market.
Laparoscopic Instruments Market Analysis By End User
The hospital segment dominated the laparoscopic devices market, accounting for the largest revenue share of 61.6% in 2022. This significant growth can be attributed to the rising number of patients with chronic diseases and the subsequent increase in surgical procedures. Hospitals are preferred healthcare settings for bariatric surgeries and other laparoscopic procedures due to their ability to handle emergencies and offer a wide range of treatment options. For instance, the American Society for Metabolic and Bariatric Surgery reported that 256,000 people in the U.S. underwent weight-loss surgery in 2019, contributing to the demand for laparoscopic devices in hospitals.
Moreover, hospitals serve as the primary health system in most countries, leading to a higher number of laparoscopic surgeries compared to ambulatory surgery centers or clinics. In contrast, the ambulatory surgical centers' segment is projected to witness the highest CAGR of 7.1% during the forecast period. This growth is driven by the increasing adoption of minimally invasive surgeries, the preference for outpatient procedures, and the cost-effectiveness of laparoscopic procedures performed in ambulatory surgery centers.
The benefits of minimally invasive laparoscopic surgery, such as lower post-surgical complications and faster recovery, contribute to the rising demand for ambulatory surgery facilities. These centers offer advantages like same-day release and shorter procedure times, making them more attractive to patients. As laparoscopic procedures become less invasive, many intra-abdominal surgeries can now be performed in ambulatory surgery centers. Additionally, aesthetic procedures at these centers are cost-effective and less time-consuming than inpatient procedures, further boosting patient interest. Overall, the ambulatory surgery centers segment is expected to grow rapidly in the forecast period due to these factors.
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Global Laparoscopic Instruments Market Regional Insights
In 2022, North America dominated the laparoscopic devices market with the highest revenue share of 34.4%. The market growth in this region is driven by the increasing preference for laparoscopic surgeries over open surgeries, leading to a surge in demand for laparoscopic devices. Additionally, stiff competition among key players, focusing on product innovation, is shaping the market landscape. Surgeons are increasingly recommending laparoscopy due to its advantages like rapid healing and positive outcomes. Moreover, the rising healthcare expenditure in the U.S. is creating opportunities for both established and new market players. As per the Centers for Medicaid and Medicare Services, U.S. healthcare spending reached USD 4.1 trillion in 2020, accounting for approximately 19.7% of the GDP.
In the Asia Pacific region, the laparoscopic devices market is projected to witness a CAGR of 7.8% during the forecast period. The growth in this region is attributed to the rising number of advanced and well-equipped hospitals and an increasing volume of surgical procedures, bolstering the demand for laparoscopic devices. Emerging economies like Singapore and South Korea are contributing to the region's growth due to advancements in technology, higher investments, improved reimbursement scenarios, and the growing trend of medical tourism. Other driving factors include the availability of affordable devices, a surge in mergers and acquisitions, and government initiatives aimed at enhancing healthcare services. The governments in the region have made significant investments to provide basic health insurance coverage to all citizens, further supporting the market's expansion.
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Global Laparoscopic Instruments Market Dynamics
Laparoscopic Instruments Market Drivers
Growing Demand for Minimally Invasive Surgeries
- Laparoscopic procedures offer several advantages over traditional open surgeries, including shorter hospital stays, faster recovery, and reduced post-operative pain. The increasing demand for minimally invasive surgeries is driving the adoption of laparoscopic instruments.
Rising Prevalence of Chronic Diseases
- The rising prevalence of chronic diseases, such as obesity, gastrointestinal disorders, and gynecological conditions, is leading to an increased number of laparoscopic surgeries, thereby fueling the demand for laparoscopic instruments.
Laparoscopic Instruments Market Restraints
Lack of Skilled Surgeons
- Laparoscopic surgeries require specialized training and skills. The shortage of trained surgeons proficient in laparoscopic techniques may hinder the growth of the market.
Risk of Complications
- While laparoscopic procedures are minimally invasive, they are not without risks. Complications such as bleeding, infection, and organ damage can occur, which may deter some patients and surgeons from opting for laparoscopic techniques.
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Global Laparoscopic Instruments Market Competitive Landscape
The competitive landscape of the global laparoscopic instruments market. The global surge in demand for laparoscopic devices has prompted manufacturers to accelerate their production processes and implement cost-effective solutions to upgrade their products. To meet the increasing demand in various laparoscopic applications, leading companies are focusing on maintaining higher product quality through mergers and acquisitions. An example of this is Asensus Surgical, Inc., which signed a Memorandum of Understanding with KARL STORZ VentureONE Pte. Ltd. in February 2023. This collaboration aims to provide cutting-edge technology for minimally invasive procedures across different surgical specialties, ultimately driving market growth in the near future.
Laparoscopic Instruments Market Top Player’s Company Profile
- Ethicon Inc.
- Apollo Endosurgery
- Boston Scientific
- Medtronic Plc (Covidien)
- Intuitive Surgical
- Olympus Corporation
- Smith & Nephew Inc.
- Karl Storz GmbH
- Richard Wolf GmbH
- CONMED Corporation
- Stryker Corporation
- Cook Medical Inc.
- Aesculap
- Microline Surgical
Laparoscopic Instruments Market Recent Developments
- January 2022 - Microline Surgical introduced a new sales team in the Southeast region to strengthen the distribution of its products across the U.S.
- November 2021 - Erbe Elektromedizin GmbH acquired Maxer Endoscopy, which is engaged in the manufacturing of a wide range of endoscopic systems and instruments for laparoscopy and ENT surgery.
- September 2021 - Olympus Corporation launched POWERSEAL devices. The POWERSEAL devices can be used in open or laparoscopic surgeries.
- April 2021 - ETHICON (Johnson & Johnson Services, Inc.) acquired Auris Health Inc. This acquisition helped the company to expand its product line in the laparoscopic, robotic, and endoluminal product portfolio.
Global Laparoscopic Instruments Key Market Trends
- Increasing Minimally Invasive Surgeries: There is a growing preference for minimally invasive surgical procedures over traditional open surgeries. Laparoscopic instruments play a crucial role in these procedures, as they enable surgeons to perform complex surgeries with smaller incisions, leading to faster recovery times, reduced post-operative pain, and shorter hospital stays.
Global Laparoscopic Instruments Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global laparoscopic instruments market analysis, the increasing adoption of minimally invasive surgical procedures. These instruments, such as trocars, graspers, scissors, and dissectors, are widely used in various laparoscopic surgeries for their precision, reduced trauma, and faster patient recovery. The rising prevalence of chronic diseases, advancements in laparoscopic technologies, and the growing demand for outpatient surgeries are driving market expansion. Additionally, supportive government policies, favorable reimbursement scenarios, and rising healthcare expenditure in key regions like North America and Asia Pacific contribute to the market's growth. Key players are focusing on product innovation and strategic collaborations to maintain a competitive edge.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 12.3 billion |
| Market size value in 2031 | USD 35.50 billion |
| Growth Rate | 6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Laparoscopic Instruments Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Laparoscopic Instruments Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Laparoscopic Instruments Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Laparoscopic Instruments Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Laparoscopic Instruments Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Laparoscopic Instruments Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Laparoscopic Instruments Market Report Snapshots
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