Global Laparoscopic Instruments Market is projected to grow at a CAGR of 9.22% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Laparoscopic Instruments Market by Product (Accessories, Hand Instruments, Closure Devices, Access Devices, Suction/Irrigation Systems, Insufflators, Energy Devices, Laparoscopes), Application (Pediatric Surgery, Colorectal Surgery, Urological Surgery, Gynecological Surgery, General Surgery, Bariatric Surgery), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027.
The global laparoscopic instruments market is expected to grow from USD 9.60 billion in 2019 to USD 19.44 billion by 2027, at a CAGR of 9.22% during the forecast period 2020-2027. North America is expected to show higher growth in the laparoscopic instruments market over the forecast period. It is due to the growing prevalence of obesity and colorectal cancer, along with increasing recognition of laparoscopic methods in the region. The pervasiveness of obesity is high in North America. Hence, a large number of patients prefer bariatric operation through laparoscopic techniques. Moreover, a rise in the number of healthcare facilities, such as hospitals and ambulatory surgical centers in the region, will promote product demand.
NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
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Key players in the laparoscopic instruments market are Olympus Corporation, B. Braun Aesculap, Richard Wolf GmbH, Smith & Nephew plc, ConMed Corporation, Karl Storz GmbH & Co. KG, Stryker Corporation, Cook Medical Inc., Medtronic plc. And Ethicon, Inc. In May 2017, Ethicon launched ECHELON FLEX GST System, which assists in delivering advantages of the precision stapling performance for thoracic and colorectal procedures. It would help in the development of the product portfolio of the company.
The product segment includes accessories, hand instruments, closure devices, access devices, suction/irrigation systems, insufflators, energy devices and laparoscopes. It is due to the rising adoption of modern technologies by clinics along with the technological improvements. The application segment includes pediatric surgery, colorectal surgery, urological surgery, gynecological surgery, general surgery and bariatric surgery. It is due to the rising number of gynecological laparoscopic methods such as ovarian cyst removal, hysterectomy and tubal ligation.
The initiation of high-level technologies in minimally invasive operations, rising healthcare expenditure, improving insurance coverage are propelling the growth. The inclination of the specialists to prescribe minimally invasive procedures to the sufferers due to early postoperative recovery and lower postoperative complexities also drives the market growth. But, the shortage of laparoscopic doctors and the expensive minimally invasive operations are expected to hinder the growth of the laparoscopic instruments market over the forecast period.
About the report:
The global laparoscopic instruments market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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