ALBANY, New York, July 7, 2020 /PRNewswire/ -- Healthcare practitioners worldwide leverage the advancements in imaging technologies and techniques to boost the surgical outcomes, particularly in benign gynecological diseases. The safety and reliability of laparoscopic devices has bolstered their uptake in minimally invasive surgeries in Asia Pacific, spurring scope for new lucrative avenues in the laparoscopy devices market, amidst the COVID-19 lockdown restrictions.
Advent of robotic platforms, analysts at Transparency Market Research affirm, has unlocked new value-grab opportunities in the laparoscopy devices market. They further opine that though COVID-19 crisis has hampered the scope of revenue generation, mobile laparoscopy with the aid of smartphones will gain some popularity in coming years.
The laparoscopy devices market stood at US$ 5.3 Bn in 2019. Clocking CAGR of ~7% from 2020 to 2030, the revenue is projected to reach US$ 10.5 Bn by 2030-end.
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Key Findings of Laparoscopy Devices Market Report
- Of all the applications, gynecological surgeries held promising share of revenues in 2019
- Of all product types in laparoscopy devices market, energy systems held a significant market share; the segment expected to make promising strides through 2030
- Of the various regions, North America held the sway in 2019; wide acceptance among clinicians and patient populations to cement the revenue potential
- Asia Pacific expected to emerge as increasingly promising regional market
Explore 204 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Laparoscopy Devices Market (Product: Energy Systems, Robot Assisted Systems, Laparoscopes, Hand Access Instruments, Trocars, Closure Devices, Insufflation Devices, and Suction/Irrigation Devices; Application: Gynecological Surgery, General Surgery, Urological Surgery, Bariatric Surgery, Colorectal Surgery, and Others; and End User: Hospitals, Clinics, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 – 2030 at https://www.transparencymarketresearch.com/report-toc/384
Laparoscopy Devices Market: Key Driving Factors and Promising Avenues
- The growing number of product approvals backs the high-growth potential of laparoscopy devices market. Gynecologists around the world stand to benefit from remarkable safety of laparoscopic procedures. Further, the minimally invasiveness nature has been driving demand in healthcare industries for boosting.
- Robot-assisted laparoscopic surgeries are likely to breathe new life into the laparoscopy devices market, despite the crippling effects of COVID-19.
- Manufacturers are increasingly focusing on making devices more surgeon-friendly as well as a low-cost modality for patient population
- Hospitals in cost-sensitive markets are increasingly acquiring low-cost rigid video laparoscopes, opening new revenue streams for manufacturers and sellers.
- Integration of video cameras and LED lights with next-generation laparoscopy devices unlocks new avenue in market. In recent years, the adoption of these devices has enabled surgeons to take advantage of novel procedures. A case in point is Single-Incision Robotic Colectomy (SIRC). The evidence-based benefits of SIRC is backed by several years of research. Incorporation of wiper blade-like features in devices is another novel advancement.
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Key Impediments for Laparoscopy Devices Market Stakeholders
The risk of infection from surgeries during the COVID-19 pandemic has serves as a huge bottleneck for the laparoscopy devices market, since this has led several surgeries to be postponed. Nevertheless, the demand has gathered momentum due to several urgent surgical procedures and medical emergencies involving laparoscopy which took place in recent months further, healthcare industry will adopt laparoscopy devices due to their high productivity in operating theaters (OT).
Laparoscopy Devices Market: Regional Assessment
Of all the regions, North America has been generating leading share of market revenues. Advances in interventional radiology techniques has cemented the potential of laparoscopy devices. On the other hand, it is Asia Pacific that will expand at remarkable pace in the global laparoscopy devices market. To a great deal, growing number of gynecological, urological, and cardiovascular surgeries propels the opportunities in the regional market. The regional market will offer significant growth momentum on the back of increasing acceptance of laparoscopic procedures among patients.
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The Laparoscopy Devices market can be segmented as follows:
- Energy Systems
- Robot Assisted Systems
- Hand Access Instruments
- Closure Devices
- Insufflation Devices
- Suction/Irrigation Devices
- Gynecological Surgery
- General Surgery
- Urological Surgery
- Bariatric Surgery
- Colorectal Surgery
By End User
- North America
- Rest of the Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:
Minimally Invasive Surgery Market: Minimally Invasive Surgery (MIS) Market was valued at US$ 1.1 Bn in 2017 and is projected to expand at a CAGR of 9.2% from 2018 to 2026. Rise in prevalence of various gastric diseases and cancers is anticipated to drive demand for M.I.S. (laparoscopic surgery, robotic surgery, EMR, ESD) surgeries during the forecast period.
Surgical Robots Market: Surgical Robots Market is expected to reach a value of ~US$ 13.1 Bn by 2027, manufacturers are collaborating with technologists to improve the efficacy of robots that contribute toward better patient outcomes. Companies are increasing their efficacy in AI and machine learning to make surgical robots a mainstream technique in operating rooms worldwide.
Gynecological Devices Market: Gynecological Devices Market is treading a growth path on the back of rising incidence of gynecological disorders such as fibroids and cervical cancer. Rising awareness among women in developing countries regarding therapeutics for gynecological disorders is stoking demand for gynecological devices.
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