Laparoscopic Instruments Market report accentuates the market size, regional changing trends, emerging new prospects for market growth rate, and production value estimation from 2021 – 2026. This market analysis document is a careful investigation of the current scenario of the market and future estimations which takes into account several market dynamics. The report is an excellent resource that delivers current and upcoming technical and financial details of the industry. The report provides an analysis of global market share, segmentation, revenue growth estimation, and geographic regions of the market. Laparoscopic Instruments Market research report provides top to bottom analysis and estimation of various market-related factors that play a key role in better decision making.
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Laparoscopic Instruments Market: by Product (Laparoscope, Insufflator, Suction/Irrigation systems, Access & Energy Devices), Application, End-User – Global Forecast to 2026 The laparoscopic instruments market is expected to reach USD 22.1 billion by 2026 from an estimated USD 12.3 billion in 2021, at a CAGR of 12.5%.
Key players in the Laparoscopic Instruments Market
The key players in the Laparoscopic Instruments market include Intuitive Surgical (US), Stryker Corporation (US), Olympus Corporation (Japan), Karl Storz GmbH & CO. KG (Germany), Medtronic PLC (Ireland), Microline Surgical, Inc. (US), B. Braun Melsungen AG (Germany), SCHÖLLY Fiberoptic GmbH (Germany), Optomic (Spain), Victor Medical Instruments Co., Ltd (China), Peters Surgical (France), EndoMed Systems GmbH (Germany), Becton, Dickinson and Company (US), Mindray Medical International Limited (China), CONMED Corporation (US), Richard Wolf GmbH (Germany), Smith & Nephew PLC (UK), Cook Medical (US), Ethicon (US), Strauss Surgical (US), AMNOTEC International Medical (Germany).
Market growth can largely be attributed to factors such as the increasing adoption of minimally invasive surgeries over open surgeries, rising prevalence of colorectal cancer, increasing number of laparoscopic bariatric procedures, and technological advancements in the field of laparoscopy. Product recalls and gaps in infrastructural support for laparoscopic procedures pose a challenge in this market. However, reduced Medicare payments to healthcare providers in the US and the dearth of trained professionals in the field of laparoscopy are expected to restrain the growth of this market to a certain extent. Growing healthcare markets in emerging economies and enhancements in equipment capabilities in laparoscopic instruments are expected to offer significant growth opportunities for market players.
Break of primary participants was as mentioned below:
- By Company Type – Tier 1–60%, Tier 2–30%, and Tier 3–10%
- By Designation – C-level–30%, Director-level–50%, Others–20%
- By Region – North America–45%, Europe–15%, Asia Pacific–25%, Latin America- 10%, Middle East and Africa–5%
Based on product type, the medical laparoscopic robots segment holds the largest market share during the forecast period.
Based on product, the global laparoscopic instruments market is segmented into medical laparoscopic robots, energy devices, insufflators, suction/irrigation systems, laparoscopes, hand instruments, closure devices, access devices, and accessories. Medical laparoscopic robots held 41.8% of the global laparoscopic instruments market in 2020. The increasing adoption of robot-assisted laparoscopic procedures and technological advancements in surgical robots contribute to the large share and high growth of this segment.
Based on application type, the general surgery segment grows at a highest market share during the forecast period.
Based on application, the global laparoscopic instruments market is segmented into bariatric surgery, gynecological surgery, general surgery, urological surgery, colorectal surgery, and pediatric surgery. In 2020, the general surgery segment accounted for the largest share of the laparoscopic instruments market. Laparoscopic instruments form an integral part of a range of general surgery procedures, including gastrointestinal, hepatobiliary, pancreatic, and abdominal wall surgeries, such as single-site (LESS) appendectomy, single-site (LESS) cholecystectomy, laparoscopic cholecystectomy, laparoscopic hernia repair, laparoscopic colectomy, laparoscopic esophagogastric fundoplasty, laparoscopic hepatectomy, and laparoscopic liver resection. Laparo-endoscopic single-site surgery (LESS) is a term used for single-incision laparoscopic surgery. These procedures result in fewer complications and morbidities. Due to lifestyle and eating habbits of the people, there has been increase in the appendicitis, hernia, etc which has resulted in the increase in the general surgeries.
Based on end user, the ambulatory surgical centers segment is expected to register the highest CAGR during the forecast period.
Based on the end user, the global laparoscopic instruments market is segmented into hospitals and ambulatory surgical centers. The rapid growth of ambulatory surgical center segment can be attributed to the increasing preference for ambulatory care due to its cost-effectiveness. The push offered by government bodies and insurance companies to conduct these procedures at ambulatory surgical centers is further likely to support the rapid growth of laparoscopy instruments among these end users.
North America is expected to account for the largest share of the laparoscopic instruments market in 2020
Geographically, the laparoscopic instruments market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share of the laparoscopic instruments market in 2020. The large share of North America can be attributed to the favorable reimbursement scenario in the US, rising incidence of cancer, increasing investments by hospitals to purchase new laparoscopic instruments, rising number of laparoscopic procedures compared to traditional open surgeries performed in North America, and the technological advancements in laparoscopic instruments introduced by key market players in this region.
The report analyzes the laparoscopic instruments market and aims at estimating the market size and future growth potential of this market based on various segments such as application type, product type, end user, and region. The report also includes a product portfolio matrix of various laparoscopy products available in the market. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.
This report provides insights into the following pointers:
- Market Penetration: Comprehensive information on product portfolios offered by the top players in the global laparoscopic instruments market. The report analyzes this market by product, application, and end user
- Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global laparoscopic instruments market
- Market Development: Comprehensive information on the lucrative emerging markets by product, application, and end user
- Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global laparoscopic instruments market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global laparoscopic instruments market.
A comprehensive market study performed in this Laparoscopic Instruments Market analysis report offers current and forthcoming opportunities for future market investment. With the systematic and comprehensive market research study, this market document provides the facts associated with any subject in the field of marketing for the Medical Devices industry. Furthermore, with the meticulous competitor analysis covered in this report, businesses can gauge or analyze the strengths and weak points of the competitors which helps build superior business strategies for their own product. The promotional Laparoscopic Instruments Market report helps define commerce strategies for businesses of the small, medium as well as large size.
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