LONDON, Aug. 25, 2016 /PRNewswire/ -- The global laparoscopic instruments market is expected to reach USD 11.68 billion by 2021 from USD 7.61 billion in 2016, growing at a CAGR of 8.9%. Over the years, factors such as growing patient and physician preferences for laparoscopic procedures, rise in the geriatric population, rise in prevalence of colorectal cancer and obesity which can be treated laparoscopically, and technological advances in the field of laparoscopic instruments are expected to drive the global market. In addition, growth of emerging healthcare markets and the increasing number of free-trade agreements have provided growth opportunities to the market. However, the dearth of trained physicians and growth of robotic minimally invasive surgeries as an alternative to laparoscopic procedures are expected to hinder market growth to a certain extent.
In 2016, the energy devices segment is expected to account for the largest share of the laparoscopic instruments market, by product, due to the technological advancements in these products. The gynecological surgery instruments segment is expected to account for the largest share of the laparoscopic instruments market, by application, owing to the wide application of laparoscopy in obstetrics and gynecology for diagnosis and treatment. Hospitals are expected to account for the largest share of the market, by end user, as hospitals increasingly prefer laparoscopy to open surgeries as it provides advantages such as lesser costs, decreased average length of stay (ALOS) of patients, and increased patient satisfaction.
In 2016, North America is expected to account for the largest share of the global laparoscopic instruments market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). In the coming years, the laparoscopic market is expected to witness the highest growth rate in the Asia-Pacific region. Growth in this region can be attributed to the favorable environment for growth of the market in Japan, Japan's Revitalization Strategy, penetration of key players into China's laparoscopic instruments market, increasing infrastructure to support laparoscopic procedures in India, and growth of medical tourism and the number of hospitals in Asian countries.
The global laparoscopic instruments market witnessed various new product offerings offered by big and small firms. New product launches; expansions; agreements, partnerships, joint ventures, alliances, and collaborations; acquisitions; and other strategies (marketing & promotion and business restructure) were the key developments undertaken by the companies to increase their market shares and to establish a strong foothold in the global market.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the firms in garnering a greater market share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios and services offered by the top 10 players in the laparoscopic instruments market. The report analyzes laparoscopic instruments by product, application, and end user.
- Product Development/Innovation: Detailed insights on the upcoming technologies, expansions, research and development activities, and new product launches in the laparoscopic instruments market.
- Market Development: Comprehensive information about the lucrative emerging markets. The report analyzes the markets for the instruments used in laparoscopic diagnostic and treatment procedures across geographies.
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the laparoscopic instruments market.
- Competitive Assessment: In-depth assessment of market shares, strategies, products and services, distribution networks, and manufacturing capabilities of leading players in the laparoscopic instruments market.
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