WASHINGTON, Feb. 02, 2023 (GLOBE NEWSWIRE) -- According to the report published by Vantage Market Research, the global Laparoscopy Devices Market was estimated at $ 6.72 Billion in 2021 and is expected to hit $ 10.04 Billion by 2028, registering a CAGR of 6.90% from 2022 to 2028. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

Additionally, technological advancements in the field of laparoscopy, growing healthcare expenditure in emerging economies, in addition to the increasing investment in Research and Development (R&D) from governments across the globe are further propelling the market growth.

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Market Dynamics:

Drivers:

Increasing Adoption of Minimally Invasive Surgeries over Open Surgeries

Since the past few years, Minimally Invasive Surgeries (MIS) treatment has been trending. The rapid pace of industrialization and growing demand from the medical sector is driving the market growth over the forecast period. Additionally, advancement in technology, and the adoption of robot operating systems by healthcare professionals is increasing, ultimately, propelling the market growth. For instance, in 2021, Olympus Corporation (Japan) launched the SIF-H190 single-balloon enteroscopy solution to reach deep into the small intestine. Also, the demand for new technology is increasing along with government initiatives. Thus, the government as well as several key players are investing their money heavily in the Research and Development (R&D) sector, which is likely to propel market growth. However, factors such as poor reimbursement policies and lack of skilled professionals are likely to play a role in restraining the growth of the market.

Top Players in the Global Laparoscopy Devices Market

• Medtronic

• Stryker Corporation

• Karl Storz SE & CO. Kg

• Johnson and Johnson

• Olympus Corporation

• Conmed Corporation

• B. Braun Melsungen AG

• The Cooper Companies Inc.

• Richard Wolf GmbH

• Microline Surgical

• BD Welfare Medical Ltd.

• Deam

• Intuitive Surgical

• Shenzen Mindray Bio Medical Electronics Co. Ltd.

For Additional Information on Laparoscopy Devices Market Players and Detail List, Download a Report PDF Brochure

Segmentation of the Global Laparoscopy Devices Market:

• Product

  • Laparoscopes

  • Energy Systems

  • Trocars

  • Closure Devices

  • Suction/ Irrigation Device Insufflation Device

  • Robot Assisted Systems

  • Hand Access Instruments

• Application

  • Bariatric Surgery

  • Urological Surgery

  • Gynecological Surgery

  • General Surgery

  • Colorectal Surgery

  • Other Surgeries

• End User

  • Hospital

  • Clinic

  • Ambulatory

• Region

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East & Africa
    

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Recent Developments:

February 2021: Olympus Corporation (Japan) launched the SIF-H190 single-balloon enteroscopy solution to reach deep into the small intestine.

August 2021: Virta Med and STAN Institute announce strategic collaboration.

Rapidly Increasing Obese Population Along with Increasing Prevalence of Chronic Diseases

The increasing adoption of ready-to-eat foods and lack of exercise in their daily routine is one of the major factors increasing obesity across the globe. Also, the chronic diseases across the globe are also increasing. Some of the common diseases are diabetes and cancer. According to the Center for Chronic Disease Prevention and Health (CDC), from 1999 –2000 through 2017 –2018, US obesity prevalence increased from 30.5% to 42.4%. During the same time, the prevalence of severe obesity increased from 4.7% to 9.2%. The US obesity prevalence was 42.4% in 2017 – 2018.

Moreover, according to the World Health Organization (WHO), nearly 1 in 3 adults (30.7%) are overweight, about 2 in 5 adults (42.4%) have obesity, and about 1 in 11 adults (9.2%) have severe obesity. Hence, an increasing prevalence of chronic diseases and obesity is increasing the demand for laparoscopic devices. Thus, driving the market growth over the forecast period.

Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on Laparoscopy Devices Market Forecast Report (2022-2028).

Regional Analysis:

North America Holds Maximum Market Share

North America is expected to dominate the growth of Laparoscopy Devices Market in 2021. The major driving factors for the market are growth in the geriatric and chronically ill population. Additionally, an increasing number of minimally invasive surgeries and technological advancements in the region is further increasing the demand for laparoscopic devices in the region, contributing to the market growth. However, Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) over the forecast period. This is owing to advancing technology, increasing investment, improving reimbursement scenarios, and growing medical tourism, and the presence of a large base of the population in the region.

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Scope of the Report:

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• Top Companies in Laparoscopy Devices Market by Size, Share, Historical and Future Data & CAGR
  

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