Laparoscopic Instruments Market: Global Industry Analysis and Forecast (2021-2029) Trends, Statistics, Dynamics, Segment Analysis

Laparoscopic Instruments Market size was valued at USD 12.3 Bn. in 2021 and the total Laparoscopic Instruments revenue is expected to grow by 13 % from 2022 to 2029, reaching nearly USD 32.70 Bn.
Laparoscopic Instruments Market Overview:
The identification and treatment of a wide range of illnesses, such as prostate cancer, pancreatic cancer, and digestive problems, frequently make use of laparoscopy equipment. These tools are used during surgical procedures to lessen bleeding and maintain hemostasis. Owing to the great level of precision, they offer during procedures, laparoscopy equipment is preferred by both surgeons and doctors.

The growth of the laparoscopy market is primarily driven by a surge in the incidence of morbid obesity on a global scale. The market is growing as a result of the growth in bariatric procedures performed worldwide to aid in weight loss. Additionally, there are huge potential opportunities owing to the growing popularity of robot-assisted laparoscopic surgery and the release of brand-new laparoscopic devices. Additionally, it is expected that an increase in the prevalence of morbid obesity increases the demand for weight-loss treatments around the world, which encourage the development of laparoscopic equipment. The market for laparoscopic equipment is primarily driven by the development of technology and the growing acceptability of less invasive therapies. Thanks to the addition of robotic technology to laparoscopic tools have improved precision, creating a wide range of opportunities for the laparoscopy devices market.
Report Scope:
The research on laparoscopic instruments provides a very helpful resource that assists investors, stakeholders, decision-makers, and other market participants in becoming familiar with all the factors influencing the growth of the global market. A clear and detailed analysis of key faces of the global market for Laparoscopic Instruments is provided by the report's SWOT and other market assessments. The investors will learn about current and upcoming trends in the worldwide market and how those trends will affect the market's growth for the forecast period.

This report contains scenarios for the laparoscopic instruments Market from the past and present, along with projected market numbers. Analysis of important competitors, including market leaders, followers, and new entrants, covers every aspect of the market. The research contains strategic profiles of the top market participants, a full examination of their key competencies, and their company-specific plans for the introduction of new products, growth, partnerships, joint ventures, and acquisitions. With its clear portrayal of competitive analysis of significant companies by product, pricing, financial condition, product portfolio, growth strategies, and regional presence in the domestic and local markets, the research acts as an investor's guide.

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Laparoscopic Instruments Market Dynamics:
Market Drivers:
Demand for Laparoscopic surgery
Laparoscopic surgery is becoming more popular in recent years owing to its numerous advantages, including shorter hospital stays, decreased blood loss, and lower patient morbidity, as well as offering quick recovery time, rapid and successful outcomes, low risk of infection, small or no incision, and less pain. The need for laparoscopic surgery is rising, and the demand for laparoscopic instruments is expected to rise throughout the forecast period. The increasing number of patients suffering from health conditions including as uterine fibroids and endometriosis, the growing number of hysterectomy and myomectomy surgeries, and growing knowledge about the improved healthcare infrastructure in emerging nations are the factors driving the market growth.

 
Government favorable legislation
The development of the laparoscopic device industry is also being supported by the government’s favorable legislation and regulations. Furthermore, favorable reimbursement rules in some nations are projected to boost laparoscopic power morcellator sales in such nations. Applications for laparoscopic devices are growing as a result of a significant rise in the global geriatric population and the development of energy systems, which has increased their availability and cost. Laparoscopic devices that combine energy systems are expected to find profitable applications in a number of bariatric procedures, including biliopancreatic diversion with duodenal switch, adjustable gastric band, gastric bypass, and sleeve gastrectomy.

Ethicon, for example, announced the ENSEAL X1 Curved Jaw Tissue Sealer in June 2021, the newest, latest, and most sophisticated laparoscopic bipolar energy device that enables stronger sealing, greater grip on tissues, and enhances procedural efficiency. It is approved for use in bariatric surgery, as well as gynecological, thoracic, and colorectal surgeries. Moreover, the market for laparoscopic devices is solidifying as a result of the increasing popularity of medical equipment, as well as greater research collaboration and partnerships between varied producers. Medtronic, for example, announced the purchase of Digital Surgery in February 2020, a medical device business and developer in surgical Artificial Intelligence (AI), digital education, training, and data analytics. This purchase will grow the company's robotic-assisted surgery platform and deliver AI and data analytics for laparoscopic surgeries.

 
Growing preference for minimally invasive procedures over open procedures in surgery
A growing preference for minimally invasive laparoscopic equipment is propelling this industry forward. Because of the lessened trauma they inflict, minimally invasive surgical approaches are becoming increasingly common. For example, Olympus announced the inclusion of 3D and infrared capabilities to their VISERA ELITE II surgical imaging technology for minimally invasive surgery in December 2020. The adoption of such an imaging platform might aid hospitals and operating rooms in improving productivity and lowering costs. The product has several uses, including gynecology, general surgery, orthopedic surgery, endourology, and ENT. Furthermore, health insurance providers in several countries cover less invasive laparoscopic operations. According to the Medicare Benefits Schedule, for example, Medicare currently pays up to 77% of laparoscopic surgeries (MBS). As a result of these concerns, patients' preferences for minimally invasive operations have increased.

The United States led the laparoscopic device market and had the highest revenue share. This can be ascribed to a greater reliance on laparoscopic surgeries over open surgeries, as well as increased knowledge of the benefits of less invasive procedures. Furthermore, product innovation rivalry among major firms would have an influence on the industry. For example, Ethicon Inc. introduced a powered circular stapler for gastric, colorectal, and thoracic surgery in September 2020. This lowers leakage at the staple line by 61% while maintaining perfusion. This, in turn, is expected to enhance the growth of the laparoscopic device market.

Companies, on the other hand, are working on a variety of strategic sourcing and diversity programs. B. Braun Medical and Kerma Medical Goods, for example, established cooperation in August 2020 to enhance the development and delivery of healthcare products and services, with a focus on veterans, minorities, and other underrepresented populations. Both organizations collaborate on a variety of initiatives, including co-marketing possibilities, product development, sustainable manufacturing, strategic sourcing, and diversity program, with the goal of boosting the market growth during the forecast period.

Market Restraints:
Decreased Medicare payments to US healthcare providers
The US government announced plans to cut Medicare spending by USD 716 billion over the following ten years in August 2012. (till 2022). A 2% reduction in Medicare payments was announced as part of its healthcare reform for Critical Access Hospitals (CAH) and Cancer Hospital interim payments. In addition, starting in 2019, the government placed a 2.3% excise charge on domestic sales of taxable medical devices (under the Patient Protection and Affordable Care Act, 2010). Industry participants predict that these revisions have a detrimental impact on the cash flow of US-based manufacturers of medical devices. The reimbursements for medical operations are expected to be impacted by this decrease in Medicare spending. Medical reimbursements for laparoscopic procedures have slightly increased, but given the overall benefits of MIS, this is insufficient and out of line with growing healthcare costs. Additionally, compared to open surgical treatments, laparoscopic operations get less money from the public and private payers. This hampers sales of their highly advanced laparos and makes it harder for medical device firms to get funding for further product development.

Market Opportunities:
Growing markets for healthcare in emerging nations
The healthcare sector is growing quickly in emerging economies. The BRICS nations—Brazil, Russia, India, China, and South Africa—have some of the world's fastest-growing economies. This is attributed to a number of factors, including the growth of market participants' public and private initiatives across these nations, the absence of significant regulatory barriers to trade, the ongoing infrastructure improvements in the healthcare sector, the increasing patient population and associated costs, the growth of market leaders' distribution networks, and the rise in medical tourism in these nations. Numerous medical tourists have been there because of the affordable high-quality surgical treatments available there compared to established markets. Several laparoscopic equipment manufacturers are currently establishing their businesses in Latin America, the Middle East, and Asia-Pacific. Important companies like Stryker and KARL STORZ have already established their production and R&D centers in these nations. Additionally, laparoscopic instrument producers forced to concentrate on emerging areas in the forecast years because of the mature, saturated markets in developed regions like North America and Europe.

Market Challenges:
Infrastructure support for laparoscopic surgeries is lacking in poorer nations
Access to routine surgical treatments is a significant issue for underdeveloped nations. In order to strengthen its infrastructure, nations like India, South Korea, and Singapore are building more hospitals and training facilities that offer ongoing medical education in disciplines like laparoscopic surgery. However, a large infrastructural deficit in these poor nations still prevents them from supporting modern medical treatments like laparoscopy. The challenge for developing nations is to close the gap in the infrastructure support available for laparoscopic surgeries. For instance, up to 5 billion individuals, or 2/3 of the global population, lack access to surgical facilities (Source: Global Surgery 2030: Evidence and Solutions for Achieving Health, Welfare, and Economic Development, The Lancet Commission, 2015). In low- and middle-income countries (LMICs), an additional 143 million surgical procedures are required annually to save lives and avert disability. Patients without access to surgery make up the majority in South Asia (57.8 million), East Asia (27.9 million), and southern sub-Saharan Africa (18.9 million). The infrastructure and resources needed to support cutting-edge surgical methods like laparoscopic operations are a challenge for the health systems of developing nations. This limits the volume of laparoscopic treatments carried out in these nations and presents a problem for the market for laparoscopic tools.
Laparoscopic Instruments Market Segment Analysis:
Based on Product, In 2021, the energy systems sector led the market for laparoscopic devices, with a revenue share of roughly 21.5%. During laparoscopic surgery, energy systems enable quick successive tissue and vascular sealing, transaction, and coagulation. These systems are often used in bariatric procedures such as gastric bypass, sleeve gastrectomy, adjustable gastric band, and biliopancreatic diversion with a duodenal switch. According to the IFSO Global Registry Report 2020, there were 833,690 bariatric procedures conducted in 61 countries worldwide. As a result, the factors stated above are expected to fuel the market growth during the forecast period.

The insufflation device sector is expected to grow at a CAGR of 8.3% during the forecast period. The abdominal cavity is easily and safely insufflated with humidified carbon dioxide using insufflation devices. The factors most likely to drive the market growth are the increasing prevalence and incidence of illnesses such as colorectal cancer. For instance, according to the World Cancer Research Fund International, colorectal cancer ranked third among all cancers in women and men in 2020 with almost 1.95 million newly diagnosed cases. Laparoscopic surgery is the most used form of treatment for colorectal cancer. As a result, it is expected that the market increase faster as colorectal cancer rates rise.

Based on the Application, With a market share of 24.8% in 2021 for laparoscopic equipment, the other procedures category dominated the market. One of the most frequent operations is a cholecystectomy laparoscopy, which is also performed on the appendix, the colon, the thorax, and the prostate. For example, it is expected that demand for colon laparoscopy increases consistently owing to current research targeted at increasing its success rate. As a result, during the forecast period, this category is expected to increase at a moderate rate. Owing to the growing prevalence of adult obesity brought on by calorie excess and shifting lifestyle patterns, the bariatric surgery category is expected to develop at the highest CAGR of 8.7% throughout the course of the forecast period.

For instance, the CDC estimates that 41.5 million children under the age of five are obese, making up around 13.0% of the population (aged 18 and above). Additionally, the American Heart Association forecasts that by 2030, the overall medical cost of bariatric surgery would increase from USD 861.2 billion to up to USD 957.2 billion. Moreover, throughout the forecast period, demand for bariatric procedures is expected to rise as a result of growing government backing and knowledge of the market's unhealthy food and drink options and how they affect BMI. One of the fundamental prerequisites for bariatric operations is laparoscopic equipment, and it is expected that rising demand for these procedures drives industry growth.

Based on the End-user, The hospital sector led the laparoscopic device market in 2021, with 62.6% of total revenue. The rise in patients with various chronic conditions and the resulting rise in surgical operations are the key causes of this market segment's growth. Thanks to the ease of handling any emergencies that arise during surgical procedures and the availability of a wide range of treatment options in such facilities, hospitals experience a significantly higher inflow of patients for bariatric surgeries or other laparoscopic procedures than other healthcare settings. For instance, 256,050 Americans received weight-loss surgery in 2020 alone, according to the American Society for Metabolic and Bariatric Surgery. Therefore, it is expected that the aforementioned variables propel the hospital segment.

Additionally, hospitals are the primary provider of healthcare in the majority of nations, therefore more laparoscopic procedures are performed there than in alternative healthcare facilities like clinics or ambulatory surgical centers. As a result, compared to other end-use segments, the demand for laparoscopic equipment is rather high in hospitals. During the forecast period, the category for ambulatory surgery centers is expected to experience the highest CAGR of 8.1%. The sector for ambulatory surgery centers is expected to grow significantly. Owing to the rise in the use of minimally invasive surgery, high demand for outpatient surgery, and the affordability of ambulatory surgical center-based laparoscopic procedures are all contributing factors to the lucrative growth of the laparoscopic equipment market.

On the other side, it is expected that fewer postoperative problems from less invasive laparoscopic surgery increase the demand for ambulatory surgery facilities. They offer patients a number of advantages over hospitals, including same-day discharge and quicker operation times. The majority of intra-abdominal surgeries now be completed at ambulatory surgical facilities because laparoscopic procedures are less invasive. Aesthetic operations at ambulatory surgical centers take less time and money to complete than inpatient procedures, which reduces the cost to the patient. The ambulatory surgical center’s sector is expected to grow quickly during the forecast period as a consequence of the factors mentioned above.
Laparoscopic Instruments Market Regional Insights:
North America dominated the laparoscopic devices market, accounting for 37.6% of sales in 2021. A key element driving the market is the increasing reliance on laparoscopic operations over open surgery. Additionally, product innovation competition among important competitors has an influence on the market for the laparoscopic device. Surgeons are now favoring laparoscopy over standard procedures since it allows for faster recovery and a better outcome. Moreover, growing healthcare spending in the United States promotes the admission of both new and established players. According to the Centers for Medicaid and Medicare Services, healthcare spending in the United States climbed by 9.8% to USD 4.2 trillion in 2020, accounting for around 19.8% of GDP.

The Asia Pacific market for laparoscopic devices is estimated to rise at a CAGR of 8.1% during the forecast period, owing to an increase in the number of modern, well-equipped hospitals and a significant number of surgical operations, which are driving market growth in the region. Singapore and South Korea are two of the Asia Pacific region's growing economies. The region's market is expected to be driven by advances in technology, more investment, improved reimbursement situations, and increased medical tourism. Affordable equipment, a surge in mergers and acquisitions, and government measures to improve healthcare services are further driving drivers for the country. The government has made enormous investments to ensure that all residents have access to basic health insurance.
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Laparoscopic Instruments Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 12.3 Bn.


Forecast Period 2022 to 2029 CAGR:
13%
Market Size in 2029:
US $ 32.70 Bn.


 Segments Covered:
by Product
• Laparoscopes
• Energy Systems
• Trocars
• Closure Devices
• Suction/ Irrigation Device
• Insufflation Device
• Robot-Assisted Systems
• Hand Access Instruments


by Application
• Colorectal Surgery
• Bariatric Surgery
• Urological Surgery
• Gynecological Surgery
• General Surgery
• Other Surgeries


by End-user
• Hospital
• Clinic
• Ambulatory



Laparoscopic Instruments Market by Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa
Laparoscopic Instruments Market Key Players
• Intuitive Surgical, Inc.
• Stryker Corporation
• Olympus Corporation
• Karl Storz GmbH & CO. KG
• Medtronic PLC
• Microline Surgical, Inc.
• B. Braun Melsungen AG
• SCHÖLLY Fiberoptic GmbH
• Optomic
• Victor Medical Instruments Co., Ltd
• Peters Surgical
• EndoMed Systems GmbH
• Becton
• Dickinson and Company
• Mindray Medical International Limited
• CONMED Corporation
• Richard Wolf GmbH
• Smith & Nephew PLC
• Cook Medical
• Ethicon
• Strauss Surgical
• AMNOTEC International Medical

Frequently Asked Questions:

1] What segments are covered in the Global Laparoscopic Instruments Market report?
Ans. The segments covered in the Laparoscopic Instruments Market report are based on Product, Application, and End User.

2] Which region is expected to hold the highest share in the Global Laparoscopic Instruments Market?
Ans. The North America region is expected to hold the highest share in the Laparoscopic Instruments Market.

3] What is the market size of the Global Laparoscopic Instruments Market by 2029?
Ans. The market size of the Laparoscopic Instruments Market by 2029 is expected to reach US$ 32.70 Bn.

4] What is the forecast period for the Global Laparoscopic Instruments Market?
Ans. The forecast period for the Laparoscopic Instruments Market is 2021-2029.

5] What was the market size of the Global Laparoscopic Instruments Market in 2021?
Ans. The market size of the Laparoscopic Instruments Market in 2021 was valued at US$ 12.3 Bn.