Laparoscopic Instruments Market Analysis and Forecast to 2031: By Product Type (Medical Laparoscopic Robots, Laparoscopes, Energy Devices, Closure Devices, Hand Instruments, Access Devices, Accessories, Insufflators, Suction/Irrigation Pumps), Application

Laparoscopic Instruments Market Analysis and Forecast to 2031: By Product Type (Medical Laparoscopic Robots, Laparoscopes, Energy Devices, Closure Devices, Hand Instruments, Access Devices, Accessories, Insufflators, Suction/Irrigation Pumps), Application Type (General Surgery, Gynecological Surgery, Colorectal Surgery, Bariatric Surgery, Urological Surgery, Pediatric Surgery), End User (Hospitals, Ambulatory Surgical Centers), and Region

The laparoscopic instruments market was valued at USD 12.5 billion in 2021 and it is anticipated to grow further till USD 39.8 billion by 2031, at a CAGR of 12.3% during the forecast period.

The front of a laparoscope has a high-resolution camera and a long, narrow tube with a high-intensity light. As it passes through the abdomen, the camera feeds images to the monitor. Endometriosis, ectopic pregnancies, pelvic inflammatory disease (PID), cysts, and fibroids are all treated and diagnosed via laparoscopy. Devices for laparoscopy are frequently employed in both diagnostic and therapeutic treatments for a variety of ailments, including prostatectomy, pancreatic cancer, and digestive issues. The use of these tools during surgical procedures helps to maintain hemostasis and ensures little bleeding. Due to the great level of precision, they provide during procedures, laparoscopy equipment is preferred by both surgeons and doctors.

Market Trends and Drivers

In terms of pre- and post-operative care, as well as the length of hospital stays, laparoscopic operations are less intrusive and cost less money. These procedures lead to less blood loss, fewer postoperative issues, and quicker patient recoveries. Additionally, health insurance companies in several nations are increasingly providing coverage for less invasive procedures. These elements have caused patients to favour minimally invasive operations more frequently. Globally, some 15 million laparoscopic procedures are carried out each year, and the number is expected to rise sharply in the future years. A significant portion (roughly 40–45%) of surgical procedures are performed laparoscopically, including laparoscopic hysterectomy, laparoscopic hysterectomy repair, laparoscopic colectomy, laparoscopic appendectomy, laparoscopic cholecystectomy, and laparoscopic bariatric surgeries.

Market Restraints and Challenges

The US government announced plans to cut Medicare spending by USD 716 billion over the following ten years in August 2012. (till 2022). A 2% reduction in Medicare payments was announced as part of its healthcare reform for Critical Access Hospitals (CAH) and Cancer Hospital interim payments (effective from April 2013). In addition, starting in 2013, the government placed a 2.3% excise charge on domestic sales of taxable medical devices (under the Patient Protection and Affordable Care Act, 2010). Industry participants predict that these revisions will have a detrimental impact on the cash flow of US-based manufacturers of medical devices. The reimbursements for medical operations are anticipated to be impacted by this decrease in Medicare spending.

Global Laparoscopic Instruments Market Segmental Overview

The report analyses the global laparoscopic instruments market based on the product type, application, end user, and region.

Global Laparoscopic Instruments Market by Product Type

Based on the product type, it is segmented into Medical Laparoscopic Robots, Laparoscopes, Energy Devices, Closure Devices, Hand Instruments, Access Devices, Accessories, Insufflators, Suction/Irrigation Pumps. The medical laparoscopic robots segment is anticipated to dominate the market during the forecast period. The growing adoption of minimally invasive surgeries over open surgeries is likely to propel the growth of the market.

Global Laparoscopic Instruments Market by Application

Based on the application, it is segmented into general surgery, gynecological surgery, colorectal surgery, bariatric surgery, urological surgery, and pediatric surgery. The general surgery segment is anticipated to dominate the market during the forecast period. Due to its promise in the treatment of diabetes and disorders linked to cardiovascular diseases, the bariatric segment is predicted to increase at a rapid rate throughout the projection period. Gall bladder removal cases, hernia patients, and surgical removal of the appendix are all on the rise. Laparoscopic bariatric surgery also helps to treat conditions linked to obesity, including type 2 diabetes, high blood pressure, dangerous cholesterol levels, and sleep apnea.

Global Laparoscopic Instruments Market by End User

Based on the end user, it is segmented into hospitals, and ambulatory surgical centers. The hospital segment is anticipated to dominate the market during the forecast period. The increase in the funding by federal government to drive the adoption of these solutions further influence the market. Moreover, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the laparoscopic instruments market.

Geographical Analysis of the Global Laparoscopic Instruments Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North American region is anticipated to dominate the market during the forecast period. Significant growth potential will also result from the focus on novel, enhanced, and updated disposable laparoscopic devices in research and development. All of these factors will have a big impact on the disposable laparoscopic devices market's expansion and offer promising future opportunities.

Major Players in the Global Laparoscopic Instruments MarketCOVID-19 Impact

In the first six weeks of the epidemic in the US, healthcare visits plummeted by about 40%, according to Indiana University experts (from early March to mid-April). In the first half of 2020, there was a 70-80% decline in the number of procedures. In the first half of 2020, outpatient consultations and non-emergency operations decreased from around 20 cases per day and 40 procedures per month to nearly zero instances, according to a research paper that was published in the Indian Journal of Surgery in June 2020. Due to the fact that elective procedures make up around 20% of the overall healthcare revenue in nations like the US, this has had a significant impact on healthcare spending. In 2020, this had a negative effect on the market for surgical devices, which also included the market for laparoscopic instruments.

Recent Developments

• February 2021, Olympus Corporation launched the SIF-H190 Single balloon enteroscopy solution to reach deep into the small intestine.
• March 2019, Intuitive Surgical Inc. received clearance from the US FDA for the da Vinc X Surgical System.
• November 2018, Stryker Corporation acquired K2M group to strengthen and expand its offering in the arthroscopy and minimally invasive spine portfolio, as well as expand its additive manufacturing capabilities.
• January 2017, Ethicon acquired Megadyne Medical to bring together Ethicon’s advanced energy devices with Megadyne’s innovative portfolio of electrosurgical tools.

Frequently Asked QuestionsQ1. How big is the Laparoscopic Instruments market?Ans. The global Laparoscopic Instruments market size was USD 12.5 Billion in 2021 and is anticipated to reach USD 39.8 Billion in 2031, growing at a rate of 12.3% from 2022 to 2031.Q2. What is the Laparoscopic Instruments market growth rate?Ans. The growth rate of the Laparoscopic Instruments market is 12.3%.Q3. Which region holds a major market share for the Laparoscopic Instruments market?Ans. North America holds a major market share of the Laparoscopic Instruments market in 2021.Q4. Which segment accounted for the largest Laparoscopic Instruments market share?Ans. By product type, medical laparoscopic robots segment accounted for the largest Laparoscopic Instruments market share.Q5. Who are the key players in the Laparoscopic Instruments market?Q6. What are the factors driving the Laparoscopic Instruments market growth?Ans. The major factors driving the growth of the market are the growing healthcare market in emerging countries.Q7. What are the key growth strategies of Laparoscopic Instruments market players?Ans. The key growth strategies of Laparoscopic Instruments market players are product launch and product approval.Q8. Which region will provide more business opportunities for the Laparoscopic Instruments market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for the Laparoscopic Instruments market during the forecast period.

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