(PharmaNewsWire.Com, October 05, 2017 ) The Global Laparoscopy Device Market was worth $7.78 billion in 2016 and estimated to be growing at a CAGR of 7.45%, to reach $11.14 billion by 2021. Laparoscopy was originally used in the field of gynaecology as a diagnostic tool and now it has evolved as a standard procedure for several surgeries. These procedures are becoming affordable for large base of patients due to continuous decline in the cost of laparoscopy and thus increasing demand for laparoscopic devices.
Laparoscopy technique has various advantages over existing techniques such as cost efficiencies in treatment, quick recovery, and limited post-operative trauma and less scars. This technique is used in several surgical fields namely, hernia repair, appendectomy and gallbladder surgery. The laparoscopic device used in the surgery consists of a tube which is inserted through the abdominal wall and enables the surgeon to view the internal organs.
Major factors driving the laparoscopy devices market are increasing health awareness regarding obesity, rising aged population, growing adoption of single-port laparoscopy and rising interest in scarless surgeries. The growth of the market is benefited from continuous improvements in technology and alongside reduction in the prices of high-end laparoscopic instruments. The market has observed a shift from direct energy based devices to multifunctional instruments. Lack of skilled surgeons and high cost of laparoscopic devices are hindering the growth of the market.
The global laparoscopic market is segmented on the basis of product into internal closure devices, hand access instruments, robotic assisted surgical system, laparoscopes, direct energy systems and insufflation devices. Based on therapeutic application the market is divided into colorectal surgery, gynaecological surgery, general surgery, bariatric surgery and urological surgery. On the basis of end-users the market is bifurcated into hospitals, clinics and ambulatory surgical centers. Direct energy system devices segment has accounted for maximum share in 2016 and is projected to register a healthy CAGR in the forecast period.
Based on geography the market is analysed under various regions namely, North America, Latin America, Europe, Asia-Pacific and Middle-East & Africa. North America is expected to lead the global laparoscopic devices market in terms of revenue share during the forecast period. Asia-Pacific is estimated to witness significant growth fuelled by the factors like increasing geriatrics population and rise in abdominal disorders in the region.
Some of the major players in the laparoscopy market are Boston Scientific Corporation, Karl Storz, ConMed, Aesculap, Covidien, Olympus, Intuitive Surgical, Stryker, Medtronic, B. Braun Melsungen AG, Ethicon US LLC and Smith & Nephew.
Market Segmentation
1) By Product Type Internal Closure Devices Hand Access Instruments Robotic Assisted Surgical System Laparoscopes Direct Energy Systems Insufflation Devices
2) By Therapeutic Application Colorectal Surgery Gynaecological Surgery General Surgery Bariatric Surgery Urological Surgery
3) By End Users Hospitals Ambulatory Surgical Centers Clinics
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Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis Study the micro environment factors that determine the overall profitability of an Industry, using Porters five forces analysis for analysing the level of competition and business strategy development A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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