The US Market For Laparoscopic Devices Will Reach A Value Of Nearly $4.5 Billion By 2022

TORONTO, Nov. 5, 2013 /PRNewswire/-- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the United States (US) market for laparoscopic devices will see moderate market growth of about three percent over the next ten years as these procedures are increasingly adopted over open techniques. This is largely because laparoscopy is minimally invasive and offers faster recovery, less postoperative pain and better cosmetic results compared to open surgery.

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Despite the growing adoption of laparoscopy, there has been some shift in the popularity of innovative laparoscopic techniques in recent years. Although single-port laparoscopy was previously viewed as holding significant potential for better patient outcomes, randomized trials do not support these claims. Single-port surgeries are also significantly more expensive than regular laparoscopic surgeries because they require specialized instrumentation, and the complexity of the procedure has also prevented many surgeons from adopting this technique. Although some companies, such as Ethicon and Covidien, are attempting to improve single-port instrumentation in an effort to rekindle adoption, procedure volumes will decline by 12 percent annually through 2022. Meanwhile, despite some controversy surrounding cost, robotic-assisted laparoscopic surgeries continue to gain popularity, particularly for urological and gynecological procedures.

Within the laparoscopic device markets, the advanced direct energy device and hand-assist device markets will both see growth of around 7 percent. Hand-assist device manufacturers are making increased efforts to better train physicians in the use of these devices, and emerging clinical support for hand-assisted laparoscopy (HAL) will further drive adoption. Similarly, the advanced direct energy device market is seeing strong uptake of premium-priced devices; these products offer clinical benefits as well as the potential for reductions in time spent in the operating room.

"Despite the uptake of premium products in some segments, lingering cost concerns will impact US facilities and the laparoscopic device market as a whole," said MRG Analyst Manya Aggarwal. "Throughout US hospitals, there is a strong emphasis on reducing per-procedure costs through the use of reusable, reposable and reprocessed devices, when available. Although manufacturers are able to generate higher per-procedure revenues through the sale of disposable devices, companies risk losing clients if they do not also offer multi-use products in an effort to appeal to cost-conscious facilities."

Millennium Research Group's US Markets for Laparoscopic Devices 2014 report includes unit, procedure, average selling price and revenue information, along with market drivers and limiters and a competitive landscape for access devices, direct energy devices, internal closure devices, hand instruments, hand-assist devices, suction/irrigation devices, insufflation devices, laparoscopes, gastric bands, laparoscopic morcellators and laparoscopic single-port devices in the United States.

About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.

About Decision Resources Group
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SOURCE Millennium Research Group