Laparoscopy Devices Market Size To Rise US$ 14.6 Bn By 2030

The global laparoscopy devices market size is expected to hit around US$ 14.6 billion by 2030 with a CAGR of 6.89% from 2022 to 2030.

Laparoscopy Devices Market Size | Industry Report 2022 to 2030

The increased frequency of chronic illnesses is one of the primary reasons driving the worldwide laparoscopic devices market. According to WHO figures, cardiovascular diseases will account for 17.9 million deaths worldwide in 2021, followed by cancer (9.3 million), respiratory diseases (4.1 million), and diabetes (1.5 million). As a result, the global market for laparoscopic devices is likely to grow in the future years.

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In the global laparoscopy devices market, bariatric surgery is gaining popularity. The rising prevalence of obesity among people all over the world is driving up demand for bariatric surgery. The growth and development of the worldwide laparoscopic devices market is further aided by increased disposable income.

Report Highlights

On the basis of product, energy systems segment holds the largest market share in the global laparoscopy devices market. According to the IFSO Global Registry Report 2019, 833,687 bariatric surgeries were performed in 61 countries throughout the world in 2019. As a result, the need for energy systems in the global laparoscopic devices market is increasing as the number of bariatric procedures increases.
On the basis of application, other surgeries segment holds the largest market share in the global laparoscopy devices market. Other types of surgeries include colon laparoscopy, thoracic laparoscopy, prostate laparoscopy, and cholecystectomy laparoscopy, to name a few. The worldwide laparoscopy devices market is gaining traction as colon laparoscopy becomes more common.
On the basis of end user, hospital segment holds the largest market share in the global laparoscopy devices market. The number of patients attending hospitals is increasing as the prevalence of chronic diseases rises. In comparison to other types of healthcare facilities, hospitals have a large number of patients. Weight reduction surgery was performed on 256,000 people in the U.S. in 2019, according to the American Society for Metabolic and Bariatric Surgery.

Regional Snapshot

North America is the largest segment for laparoscopy devices market in terms of region.The U.S. is dominating the laparoscopy devices market in the North America region. The increased prevalence of chronic illnesses and expanding adoption of non-invasive or minimally invasive surgical techniques are driving the growth of the laparoscopy devices market in North America. As a result, the demand for laparoscopic equipment in North America is increasing due to an increase in the number of ailments and infections. Furthermore, the presence of significant industry players is paving the way for the region’s laparoscopic devices market to grow.

Asia-Pacific region is the fastest growing region in the laparoscopy devices market.South Korea and Singapore hold the highest market share in the Asia-Pacificlaparoscopy devices market. The region’s laparoscopy device market is rising due to an increase in the number of hospitals and healthcare institutions that perform procedures. Other factors driving to the growth of the Asia-Pacific laparoscopy devices market include the growing trend of medical tourism, technical developments, and improved reimbursement policies.

Table of Contents

Laparoscopy Devices Market Scope

Report Coverage	Details
Market Size by 2030	USD 14.6 Billion
Growth Rate from 2022 to 2030	CAGR of 6.89%
North America Market Share in 2021	35%
Hospital Segment Market Share in 2021	62%
Base Year	2021
Forecast Period	2022 to 2030
Segments Covered	Product, End User, Application, Geography

Laparoscopy Devices Market Dynamics

Drivers

Technological advancements

The growing demand for data integrated systems is expected to provide a number of attractive prospects to support the global laparoscopy devices market. Furthermore, developing countries are expected to play a significant role in generating market growth possibilities. Untapped market potential may help to boost the business in the near future.

Restraints

Lack of trained professionals

During the projection period, a shortage of qualified healthcare personnel is expected to stymie global laparoscopy devices market expansion. To strengthen the industry in the coming years, there will be a demand for skilled healthcare personnel to perform laparoscopic treatments.

Opportunities

Growing adoption of minimally invasive surgeries

Annually, around 15 million laparoscopic surgeries are performed globally with this number expected to rise dramatically in the next few years. This also drives demand for minimally invasive surgeries. Thus, growing adoption of minimally invasive surgeries is contributing towards the growth of global laparoscopy devices market over the forecast period.

Challenges

Low expenditure on Medicare

The U.S. government declared in August 2012 that it aimed to cut Medicare spending by $716 billion over the following ten years. A 2% drop in Medicare payments for Cancer Hospital interim payments and Critical Access Hospitals was declared as part of the healthcare reform. As a result, low expenditure on Medicare is a major challenge for the expansion of global laparoscopy devices market.

Laparoscopy Devices Market Companies

B. Braun Melsungen AG
Boston Scientific Corporation
ConMed Corporation
Johnson & Johnson
Karl Storz SE & Co. KG
Medtronic PLC
Olympus Corporation
Richard Wolf GmbH
Smith & Nephew PLC
Stryker Corporation

Segments Covered in the Report

By Product

Laparoscopes
Energy Systems
Trocars
Closure Devices
Suction/Irrigation Devices
Robot Assisted Systems
Hand Access Instruments

By Application

Bariatric Surgery
Urological Surgery
Gynecological Surgery
General Surgery
Colorectal Surgery
Other Surgeries

By End User

Hospital
Clinic
Ambulatory

By Geography

North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa