Laparoscopic Devices Market Size, Share & Trends Analysis Report By Product (Laparoscopes, Energy Systems, Trocars), By Application, By End User (Hospital, Clinic), By Region, And Segment Forecasts, 2022 - 2030

Laparoscopic Devices Market Size, Share & Trends Analysis Report By Product (Laparoscopes, Energy Systems, Trocars), By Application, By End User (Hospital, Clinic), By Region, And Segment Forecasts, 2022 - 2030

Laparoscopic Devices Market Growth & Trends

The global laparoscopic devices market size is anticipated to reach USD 12.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.2% from 2022 to 2030. The primary driving factors for market growth are the increasing adoption of minimally invasive surgeries over conventional methods, an increase in the number of laparoscopic bariatric procedures, and technological advancements. The COVID-19 pandemic has created a significant challenge for the global healthcare industry. Restricted access to medical services has led to inadequate care for patients suffering from other diseases. Laparoscopy has been adversely impacted by the pandemic. During this period, surgeries are often being postponed or even canceled to prevent transmission of the virus.

However, the market is expected to rebound and grow over the forecast period, as most the countries across the globe have started easing lockdown measures and restarted some of the elective procedures. Over the forecast period, technological advancements are expected to be a crucial driver in the growth of the market. For example, in September 2021, Olympus released the first innovative bipolar surgical energy product, which is named POWERSEALTM. Furthermore, the devices let Olympus compete in the developing global market for advanced bipolar surgical energy devices, which is now valued at over USD 1.2 billion and is expected to grow in the near future.

Laparoscopic Devices Market Report Highlights

• The energy systems segment accounted for the largest revenue share of 21.5% in 2021, owing to an increase in the number of patients suffering from ulcerative colitis, Crohn’s disease, gall bladder problems, diverticulitis, and obesity is driving segment growth
• The other surgeries segment dominated the market and accounted for a revenue share of around 22.8% in 2021. Other surgeries majorly include cholecystectomy laparoscopy, colon laparoscopy, and prostrate laparoscopy. The growth of the segment is due to constant innovation being employed to boost its success rate
• The hospital segment captured the largest revenue share of around 61.6% in 2021. The growth of this segment can mainly be attributed to an increase in the number of patients suffering from various chronic ailments and the consequent rise in surgical procedures
• Asia Pacific is expected to witness a CAGR of 7.1% over the forecast period. This is due to a large number of surgical procedures. An increase in the number of well-equipped is also expected to boost the market growth in the region over the forecast period