Laparoscopy Devices Market On Target to Hit $18,907.05 Million by 2027
Pune, Maharashtra, India, September 8 2020 (Wiredrelease) Allied Analytics –:The research report published by Allied Market Report states that the global laparoscopy devices market is estimated to reach $18,907.05 million by 2027, registering a CAGR of 5.8% during the forecast period 2020 – 2027. The report provides an in-depth analysis of growth factors, opportunities, market trends, key segments, and competitive landscape. Current market conditions and the future scenario of various regions have been analyzed in the report to help market players in devising expansion strategies. Moreover, it includes country-wise analysis of each region. Product portfolio and business segments of leading market players outline the competitive scenario. The report provides insights to help investors, stakeholders, and new entrants to determine potential opportunities and tap on them to gain competitive advantage.
Laparoscopy is a minimally invasive surgical procedure that assists in the diagnosis of various abdominal and pelvic disorders, such as cysts, adhesions, fibroids, and infection that occurs in the female pelvic organs. Laparoscopy is also known as keyhole surgery, and it is performed by creating a small incision. Laparoscopes are inserted through a small incision in the abdomen, which captures pictures of the abdominal organs. This procedure also assists in performing a biopsy of tissues and surgeries, such as cholecystectomy (laparoscopic gallbladder surgery), appendectomies (removal of appendix) and anti-reflux surgery, treatment for acid reflux, also known as GERD (gastroesophageal reflux disease).
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The key factors that drive the global laparoscopy devices market include rise in the number of obese population, growth in laparoscopic-based bariatric surgeries for weight reduction, and increase in technological advancements pertaining to these devices. However, lack of expertise in the laparoscopic surgeries and high costs associated with these devices and procedures are anticipated to restrain the market growth.
The energy devices segment accounted for more than one-fourth of the global market in 2019. This segment is anticipated to maintain its dominance during the forecast period, accounting for maximum laparoscopy devices market share by 2027. This is due to increase in advancements pertaining to energy devices used for laparoscopy and large-scale incorporation of these devices in laparoscopic applications. However, the laparoscope segment is anticipated to grow at a rapid rate during the forecast period.
The robot-assisted surgical system is anticipated to grow at the highest CAGR, attributed to the ability of these devices to facilitate minimally invasive surgical procedures. The global acceptance for robotic-based surgery for hysterectomies, prostatectomies, nephrectomies, removal of fibroids, and others has increased the demand for laparoscopy-based surgeries.
Bariatric surgery accounted for about one-fifth of the total share in 2019, driven by the growth in number of surgeries, such as gastric bypass, sleeve gastrectomy, and gastric banding. The growth in obese patients is expected to increase chances of related diseases, such as cardiovascular diseases, cancer, osteoarthritis, and diabetes, in turn increasing the demand for laparoscopic based bariatric surgery globally.
Asia-Pacific has witnessed highest growth rate for laparoscopy devices, and is expected to continue this trend, due to increase in healthcare infrastructural development and sizeable population, specifically in China and India.
Key players operating in the laparoscopy devices market have adopted product launch as their key strategy, and focus on launching innovative products to cater to the consumer requirements and strengthen their market share.
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The major companies profiled Are:
B. Braun Melsungen AG, Boston Scientific Corporation, ConMed Corporation, Johnson & Johnson, Karl Storz SE & CO. KG, Medtronic plc (Covidien), Olympus Corporation, Richard Wolf GmbH, Smith & Nephew plc and Stryker Corporation.
Key Findings Of The Study
• The robot-assisted surgical systems segment is projected to grow at a lucrative CAGR of 6.8% during the forecast period.
• The general surgery segment was the highest contributor to the market in 2018, and is expected to grow at a CAGR of 4.9% during the forecast period.
• U.S. dominated the North America laparoscopy devices market, and is projected to retain this trend throughout the forecast period.
• By end user segment, the clinics segment is estimated to grow at a CAGR of 6.0%.
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