Laparoscopic Devices Market Ready to Observe an Exclusive Growth in Revenue US$ 16,854.3 Mn by 2027

 

Laparoscopic Devices Market

A keyhole incision is used to perform laparoscopy, a minimally invasive surgical procedure. Surgeons can navigate specific laparoscopic instruments to the target location and perform surgery using a tiny camera and a light source coupled to a tube. This method is most commonly used for procedures involving the pancreas, liver, colon, and bile duct.

The market is expected to increase due to rising obesity rates throughout all age groups, a fast growing elderly population in the Asia Pacific region, particularly in countries like Japan, India, and China, and rapid technology advancements. According to the WHO, there were more than 42,48,389 COVID-19 recorded cases and 2,94,046 fatalities worldwide in May 2020. The worldwide healthcare sector has been faced with a severe issue as a result of the COVID-19 epidemic. Patients with various ailments have received insufficient care due to limited access to medical services. The epidemic has had a negative influence on laparoscopy. During this time, procedures are frequently rescheduled or postponed in order to reduce viral spread.

According to Coherent Market Insights, The global Laparoscopic Devices Market is estimated to account for US$ 10,150.2 Mn in terms of value in 2019 and is expected to account for US$ 16,854.3 Mn by the end of 2027.

Laparoscopic surgery has been more popular in recent years because to its multiple advantages, including a shorter hospital stay, less blood loss, and lower patient morbidity, as well as speedy recovery, swift and effective results, minimal risk of infection, tiny or no incision, and less discomfort. Because laparoscopic surgery is becoming more popular, the demand for laparoscopic instruments is expected to rise throughout the projected period. The rising number of patients suffering from health conditions including as uterine fibroids and endometriosis, the rising number of hysterectomy and myomectomy surgeries, and expanding knowledge about the improved healthcare infrastructure in emerging nations are the factors driving the market's expansion.

Furthermore, the Laparoscopic Devices Market is being propelled forward by a growing need for less invasive laparoscopic equipment. Because of the little trauma they inflict, minimally invasive surgical treatments are becoming increasingly popular. For example, Olympus announced in December 2020 that its VISERA ELITE II surgical imaging tool for minimally invasive surgery will now have 3D and infrared capabilities. The adoption of a platform like this might aid hospitals and operation centres in increasing efficiency and lowering costs. Gynecology, general surgery, orthopaedic surgery, endourology, and ENT are just a few of the uses for the device. Furthermore, health insurance providers in several countries pay for less invasive laparoscopic surgery. For example, according to the Medicare Benefits Schedule, Medicare now covers up to 75% of laparoscopic procedures (MBS). Patients' preferences for minimally invasive surgeries have risen as a result of these considerations.

Because hospitals are the primary health care system in most countries, the number of laparoscopic procedures performed there is higher than in alternative healthcare settings such as ambulatory surgical centres or clinics. As a result, hospital demand for laparoscopic equipment is higher than in other end-use categories. During the projected period, the ambulatory surgery centres segment is predicted to grow at the fastest rate of 7.1 percent. Over the projection period, the ambulatory surgery centres sector is predicted to increase at a substantial rate. The profitable growth of the laparoscopic equipment market is attributed to a rise in the acceptance of minimally invasive operations, a strong desire for outpatient surgeries, and the cost-effectiveness of laparoscopic procedures performed in ambulatory surgery centres.

Top Manufacturers of Laparoscopic Devices are Olympus Corporation, B. Braun Melsungen AG, Intuitive Surgical Inc., Medtronic plc., Stryker Corporation, Smith & Nephew Plc., CareFusion Corporation, Ethicon US, LLC, KARL STORZ GmbH & Co. KG, Richard Wolf GmbH, Endocontrol SA, Gordian Surgical Ltd., 270Surgical Ltd., and Tekno-Medical Optik Surgery GmbH

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