Coherent Market Insights released on November 19, 2021

Laparoscopy is a minimally invasive surgical procedure performed through a keyhole incision. The surgeon can navigate the customized laparoscopic instrument to the target location and perform the operation using a small camera and a light source connected to the tube. This procedure is mainly used for surgery involving colon, pancreas, bile duct and liver.

In 2019, the global laparoscopic equipment market was valued at USD 10.150.2 billion and is expected to reach USD 16.854 billion by the end of 2027.

Global Laparoscopy Equipment Market: Driving Factors

Increasing demand for minimally invasive medical procedures and increased efficiency of laparoscopic surgery are expected to drive the growth of the global laparoscopic market during the forecast period. Laparoscopic surgery is not a huge incision required for open surgery, but a long pencil-like device that is accessed through a small incision in the abdominal wall.

In addition, the rising incidence of colorectal cancer is expected to drive the growth of the global laparoscopic equipment market. For example, according to data from the World Cancer Research Foundation, colorectal cancer is the second most common cancer in women and the third most common cancer in men. There were approximately 1.8 million new cases in 2018.

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North America accounted for the largest share of the global laparoscopic equipment market in 2019, accounting for 31.5% of the market share, followed by Europe.

Global Laparoscopy Equipment Market: Restrictions

The high price of laparoscopic equipment is expected to hinder the growth of the global laparoscopic equipment market during the forecast period. Laparoscopic surgery using robot-assisted equipment can be $1,600 more expensive than traditional laparoscopic surgery. Robot-assisted laparoscopic surgery is more expensive than traditional laparoscopic and open surgery techniques. The cost of each unit may be between US$1 million and US$2.5 million.

In addition, the shortage of well-trained laparoscopic surgeons is expected to hinder the growth of the global laparoscopic equipment market during the forecast period. If you are not careful, serious injuries may occur during trocar placement, such as blood vessel penetration, abdominal wall hematoma, umbilical cord wound infection, and colon penetration.

Global Laparoscopy Equipment Market: Opportunities

The increase in the incidence of obesity is expected to provide market participants with lucrative growth prospects. For example, according to data from MedAlertHelp.org, approximately 1.9 billion people worldwide are overweight.

In addition, it is expected that during the forecast period, increasing healthcare expenditures will drive the growth of the global laparoscopic equipment market. According to data from the Center for Medicare and Medicaid Services (CMS), it is estimated that from 2018 to 2027, the U.S. healthcare expenditure will grow at an annual rate of 5.5%, reaching approximately US$6.0 trillion by 2027.

In 2018, the direct energy system equipment sub-segment of the global laparoscopic equipment market was valued at US$3.029.1 billion and is expected to reach US$5.8861 billion by 2027, growing at a compound annual growth rate of 7.6% during the forecast period.

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Microlaparoscopy is a new technology for laparoscopic surgery, in which standard laparoscopic instruments (10-12 mm in size) are replaced by newly manufactured laparoscopic instruments with a diameter of less than 3 mm. Mini-laparoscopy minimizes the need for a single-point incision, allowing surgeons to perform surgery with only acupuncture, thereby reducing personal postoperative pain.

In contrast to traditional laparoscopic treatment methods (including making 4 to 5 small incisions as the entry point for laparoscopic equipment), the use of single-point incision surgery has increased dramatically. Single-point incision laparoscopic surgery has many advantages, such as faster recovery, lower risk of infection, less postoperative pain, and better cosmetic results.

Global Laparoscopy Equipment Market: Competitive Landscape

The major players contributing to the global laparoscopic equipment 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 Laparoscopy Equipment Market: Major Developments

Major market players are focusing on product approval and release to increase their product supply. For example, 270Surgical Ltd. announced in November 2019 that its SurroundScope system has received 510(k) approval from the U.S. Food and Drug Administration, making it the first laparoscopic camera system with a 270-degree field of view (FoV).

Major market participants participate in raising funds for product commercialization. For example, Gordian Surgical Ltd. raised US$3 million in October 2019 to commercialize its TroClose 1200 access closure device for laparoscopic surgery.

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Coherent Market Insights is a global market intelligence and consulting organization focused on helping many of our clients achieve transformational growth by helping them make key business decisions. We are headquartered in India, with offices in Global Financial Capital in the United States, and sales consultants in the United Kingdom and Japan. Our customer base includes participants from various business verticals in more than 150 countries/regions around the world. We are proud to cater to customers in all fields, from Fortune 500 companies to non-profit organizations, and startups that want to gain a foothold in the market. We specialize in providing unparalleled actionable market intelligence in various vertical industries, including chemicals and materials, healthcare, food and beverages, consumer products, packaging, semiconductors, software and services, telecommunications, and automobiles. We provide joint market intelligence reports, customized research solutions and consulting services.

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