Global Laparoscopic Devices Market Size, Share, Growth Analysis, By Product Type(Laparoscopes, Energy Systems), By Application(Bariatric Surgery, Urological Surgery), By End-use(Hospital, Clinic) - Industry Forecast 2023-2030

Laparoscopic Devices Market size was valued at USD 6.77 billion in 2021 and is poised to grow from USD 7.27 billion in 2022 to USD 12.6 billion by 2030, growing at a CAGR of 7.35% in the forecast period (2023-2030).

The market's expansion is attributed to the increasing prevalence of diabetes across all age groups, the rapidly expanding elderly population in the Asia Pacific region, particularly in countries like Japan, India, & China, and swift technological advancements. The global healthcare sector is confronting a significant challenge due to the COVID-19 pandemic. Patients with various diseases have received suboptimal care due to limited access to medical services. Laparoscopy has been adversely affected during the pandemic, with surgeries often delayed or canceled to reduce virus transmission. Major firms are looking to expand their regional operations, establish additional warehouses in affected regions, and diversify their channels of operation. To cope with supply chain disruptions, companies are implementing various strategies, including rerouting transportation, sourcing from additional partners, and utilizing air freight delivery. The pandemic has also favored local manufacturers, creating profitable opportunities for market expansion. Laparoscopic surgery has gained popularity over traditional methods due to its numerous advantages, such as shorter hospital stays, reduced blood loss, lower patient morbidity, quick recovery, successful outcomes, low infection risk, small or no incisions, and less pain. The demand for laparoscopic equipment is expected to rise due to the increased demand for laparoscopic surgery. Market growth is driven by factors such as a surge in patients with conditions like uterine fibroids and endometriosis, increased hysterectomy and myomectomy procedures, and growing public awareness in developing nations about improving healthcare infrastructure.

Supportive government legislation and regulations are another factor promoting market growth for laparoscopic devices. Favorable payment regulations in various countries are projected to boost revenues from laparoscopic power morcellators in those regions. The global increase in the elderly population and advancements in electrical systems, enhancing their availability and affordability, have led to expanded applications for laparoscopic equipment. Laparoscopic devices integrating energy systems are expected to find lucrative applications in bariatric operations like biliopancreatic diversion & duodenal switch, variable gastric band, gastric bypass, or sleeve gastrectomy. The majority of revenue is generated from the laparoscopic device market, with the United States dominating. This is attributed to the growing preference for laparoscopic procedures over open ones and increasing awareness of the benefits of less invasive procedures. Competition among major players for product innovation will also impact the market. For example, Olympus Corporation recently introduced the THUNDERBEAT Open Fine Jaw Type X surgical power tools for open surgery in September 2022, promoting enhanced safety during procedures and commercially available in Japan with additional thermal protection. Companies are working on a variety of diversity and strategic sourcing initiatives. For instance, in 2021, B. Braun Medical and Kerma Medical Goods announced their intention to collaborate in creating and providing healthcare goods and services, with a focus on serving veterans, people of color, and other underrepresented populations. Collaborative marketing opportunities, product development, environmentally friendly production, strategic sourcing, and diversity initiatives are expected to accelerate market growth for both companies.

Segments covered in this report

The global laparoscopic devices market is categorized on the basis of product, application, end-use, and region. With respect to categorization by product, the market is segmented into laparoscopes, energy systems, trocars, closure devices, suction/ irrigation device, insufflation device, robot assisted systems, and hand access instruments. Based on application, the market is segmented into bariatric surgery, urological surgery, gynecological surgery, general surgery, colorectal surgery, and other surgeries. Based on end-user, the market is segmented into Hospital, Clinic, Ambulatory. Based on region, the global Laparoscopic Devices Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Drivers:

Increasing Burden of Chronic Conditions

The global prevalence of chronic diseases, including obesity, gastrointestinal disorders, and gynecological conditions, is on the rise. Laparoscopic procedures are often the preferred choice for treating these conditions due to their minimally invasive nature. The growing burden of chronic diseases is a key factor contributing to the expansion of the laparoscopic devices market.

Restraints:

Elevated Expenses Associated with Laparoscopic Devices

Laparoscopic devices, encompassing instruments, trocars, energy devices, and imaging systems, can incur substantial costs. The initial capital investment and ongoing maintenance expenses may pose a barrier, particularly for healthcare facilities with constrained budgets or those situated in developing regions. The high expenses related to laparoscopic devices have the potential to limit their adoption.

Market Trends:

Advancements in Robotic-Assisted Laparoscopic Surgery

The increasing adoption of robotic-assisted laparoscopic surgery is driven by advancements that enhance precision, visualization, and dexterity. Major market players are directing investments towards the development of robotic systems tailored specifically for laparoscopic procedures. These systems provide surgeons with heightened control and maneuverability, contributing to the growing acceptance of robotic-assisted laparoscopic surgery.

Miniaturization of Laparoscopic Devices

A notable trend in the laparoscopic devices market is the ongoing miniaturization of instruments, trocars, and cameras. The shift towards smaller devices allows for reduced incision sizes, minimizing patient trauma and improving overall patient outcomes. Progress in materials and manufacturing techniques facilitates the creation of more compact and lightweight laparoscopic devices.

Increasing Application of Laparoscopy in Bariatric Surgery

Laparoscopic techniques play a crucial role in bariatric surgery for weight loss. The escalating prevalence of obesity and the preference for minimally invasive procedures contribute to the growing utilization of laparoscopic devices in bariatric surgery. The market is witnessing the development of specialized laparoscopic instruments and devices tailored for use in bariatric procedures.

Growing Demand for Single-Incision Laparoscopic Surgery

The rise in popularity of single-incision laparoscopic surgery (SILS) involves conducting entire procedures through a single small incision, leading to reduced scarring and improved cosmetic outcomes. SILS is increasingly adopted across various surgical specialties, including urology, gynecology, and general surgery. Major market players are concentrating on creating specialized instruments and trocars to meet the rising demand for SILS.