Global laparoscopy device market projected to grow with significant CAGR over the forecast period
Laparoscopy: an innovative surgical procedure
Global laparoscopy device market: Laparoscopy is a type of invasive surgical procedure used for diagnostic and treatment purposes. Laparoscopic devices are used for performing a laparoscopy in pelvis or abdomen region through a small incision (about 0.5 to 1.5cm) with the help of a camera. There are two types of laparoscopies- telescopic and digital laparoscopy. For a telescopic laparoscopy, a telescopic rod lens system is connected to a video camera and for a digital laparoscopy, a digital camera is placed at the end of the laparoscopy without the rod lens system. The targeted system of the body is colon, liver, pancreas, bile duct, etc.
The global laparoscopy device market is growing at a significant rate due to factors rise in geriatric population, increasing number of colorectal cancer, etc. According to World Obesity Federation, the obesity rate is increasing drastically, which has led to increase in bariatric surgeries such as gastric bypass, gastric bands using laparoscopy which is helping the laparoscopy devices market grow. In addition to this rise in demand for less invasive procedures, newer advanced technologies, growing healthcare sectors, greater insurance coverage, early postoperative recovery and lesser post-operative complications and rising number of colorectal cancers are boosting the market of laparoscopy devices market. On the other hand, high cost involved in invasive surgeries, lack of skilled professionals for performing laparoscopic procedures are expected to hamper the market growth of laparoscopy devices. Apart from this, strict regulatory policies are major setbacks for the growth of global laparoscopy device market.
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Global laparoscopy device market has been categorized as-
1. Product type
• Laparoscopes
• Energy Devices
• Insufflators
• Suction/Irrigation Systems
• Closure Devices
• Hand Instruments
• Access Devices
• Accessories
2. Application
• Gynecological Surgery
• General Surgery
• Urological Surgery
• Colorectal Surgery
• Bariatric Surgery
• Pediatric Surgery
3. Technology
• Traditional Laparoscopy
• Robotic Laparoscopy
4. End-users
• Hospitals
• Clinics
• Ambulatory surgical centers
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And on the basis of division in geographical regions, the global market for laparoscopic devices comprises of- Europe, North America, Asia-Pacific, Middle East & Africa, and Latin America. North America holds the largest share of the global laparoscopy devices market followed by Europe and Asia-Pacific. Increasing number of manufacturing companies, availability of skilled surgeons and favorable reimbursement conditions are fueling the market growth of laparoscopic devices in North America. Increasing CE approvals for the devices in Europe is set to boost the market sales of laparoscopy devices. Cost effective surgical procedures, growing medical tourism, the rise in a number of abdominal disorders are driving force for the growth of global laparoscopy device market. Some of the key players in the global laparoscopy devices market are Medtronic (U.S.), Karl Storz GmbH & Co.KG (Germany), Stryker Corporation (U.S.), Olympus Corporation (Japan), B. Braun Aesculap (Germany), Richard Wolf GmbH (Germany), Smith & Nephew PLC (U.K.), Ethicon, Inc. (U.S.), Cook Medical Incorporated (U.S.), and ConMed Corporation (U.S.) to name a few.
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In 2013, Olympus corporation launched more accurate and faster 3D laparoscopy system with one of a kind world’s first deflectable tip. And in 2011, Ethicon, Inc. (Johnson & Johnson) launched the Echelon Flex stapler made control and precision accessible to more surgeons.
Global laparoscopy device market is expected to grow significantly due to increasing amount of product launches, and increasing awareness of endoscopic surgeries in developing nations. However, manufacturers are mainly focusing on developing automated laparoscopic devices which provide more accuracy and precision during the surgeries. The major advantage with the robot-assisted laparoscopic device is to facilitate minimally invasive surgical procedures, which improves the sales of robotic-assisted systems and helps in the overall growth of global laparoscopy device market.
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