Laparoscopic Instruments Market Plying for Significant Growth During 2017 to 2025
The primary factor for the growth of global laparoscopic instruments market is the increasing number of hospital admissions attributed to increasing number of bariatric surgeries such as gastric bypass, adjustable gastric band etc. owing to increasing prevalence of obesity and more inclination of the people to opt for bariatric surgeries for aesthetic appeal. Secondly growing healthcare expenditure and the introduction of advanced technologies in minimally invasive surgeries, growing insurance coverage and inclination of the surgeons to prescribe minimally invasive surgeries to the patients due to early post-operative recovery and lower post-operative complications also drives the market growth for laparoscopic instruments over the forecast period. However high cost of minimally invasive surgeries and lack of laparoscopic surgeons are the factors expected to restrain the revenue growth of laparoscopic instruments market over the forecast period.
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Laparoscopic instruments market is mainly dominated by trends such as introduction of technically advanced and sleek laparoscopes, automated ligation and suturing devices etc. increasing popularity of robot-assisted laparoscopic surgeries and growing demand for single incision laparoscopic surgery. However manufacturers are consistently focusing on developing automated laparoscopic devices which provides more precession and accuracy to the surgeons during neurosurgeries, bariatric surgeries and cardiovascular surgeries. These trends are changing the market scenario, however there are many such trends expected to dominate the market over the forecast period.
Depending on geographic region, laparoscopic instruments market is segmented into five key regions: North America, Latin America, Europe, Asia Pacific (APAC) and Middle East & Africa (MEA).
Globally, laparoscopic instruments market is expected to witness healthy growth in the near future due to increasing number of product launches and increasing awareness of endoscopic surgeries in the developing nations. Laparoscopic instruments market is anticipated to show highest share in North America followed by Europe owing to technological advancement and more number of companies manufacturing laparoscopic instruments in these regions. Also it has been analyzed that increasing number of companies in Europe are getting CE mark approval to market their minimally invasive surgery devices in the region. Asia-Pacific is expected to register fastest growth owing to increasing number of endoscopic surgeries attributed to increasing prevalence of obesity and other chronic disorders in the region over the forecast period.
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Some of the key market players in global laparoscopic instruments market includes Boston Scientific Corporation, Stryker Corporation, Ethicon, Inc. Smith & Nephew PLC, Cook Medical Incorporated, Intuitive Surgical, Inc., Apollo Endosurgery, Inc., Olympus America etc. these players are entering into mergers & acquisitions, strategic collaborations, and product portfolio expansions, which are their key sustainability strategies to maintain their profit margins in the long run. Also many startup companies’ have entered in this lucrative market space to capitalize over the opportunities present in laparoscopic instruments market.
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