Global laparoscopic instruments market is expected to register a healthy CAGR in the forecast period 2019 to 2026. The new market report contains data for historic years 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
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TECHNOLOGICAL ADVANCEMENTS IN THE FIELD OF LAPAROSCOPY:
In recent years, the innovations in laparoscopic techniques are rapidly increasing with various new surgical instruments being introduced in the market. It has been observed that the growth of global laparoscopic instruments is expected in the medical sector owing to the technological advancements in the products. Robotics technologies are also developing across various procedures and markets. As the surgical robotics technologies are developing and becoming more accessible to the surgeons, the market is seeing growth in procedure applications as well as the associated revenue. The use of robotic surgeries for the gynecologic conditions has grown exponentially.
Various companies have adopted several strategies for the development of their products and launched several new products such as:
Thus, the technological advancement in the laparoscopic instruments will help in the growth of the market.
GROWING NUMBER OF MINIMALLY INVASIVE SURGERIES:
Minimally invasive surgeries refer to the procedures which utilizes an endoscope to reach the internal organs through very small incisions. Minimally invasive laparoscopy is done by inserting a thin and tubular device known as laparoscope through a small incision into the pelvis or abdomen for performing operations which requires large incisions.
The minimally invasive surgeries offer various benefits like fast recovery time and less pain over traditional open surgeries. Hence, this helps the market to grow in many ways as in this case the accuracy rate is higher in comparison to open surgeries.
PRODUCT RECALLS OF VARIOUS COMPANIES:
Product recall is a process of retrieving the defective and unsafe goods from customers while offering those customers with compensation. Recalls usually occur due to the safety concerns over the manufacturing defects in a product which may cause harm to its user. In China laparoscopic instruments market, various companies have recalled their products due to some defect and safety issues. For instance,
The increasing issues associated with the laparoscopic instruments can lead to serious injuries in the patients can hamper the growth of market.
MARKET GROWTH IN EMERGING COUNTRIES
Laparoscopic instruments play a vital role during different types of surgeries such as gynaecological surgery, general surgery, urological surgery, colorectal surgery, bariatric surgery, pediatric surgery and others. Various factors such as rising geriatric population over the globe, growing incidence of minimally invasive surgeries and the technological developments are driving the market growth in emerging nations.
Various companies are expanding their business in different countries such as:
The companies operating in this market are opting several strategies including mergers and acquisitions, product launch, agreements and others for fostering their business in several regions.
LACK OF INFRASTRUCTURAL SUPPORT FOR LAPAROSCOPIC PROCEDURES IN LESS DEVELOPED COUNTRIES:
The burden of surgical diseases and conditions is increasing in the middle-income and low-income countries, but the ability to meet their demands is not following pace. The less developed countries do not have enough funds from government for such infrastructure. Infrastructure supports laparoscopy includes training surgeons to master the requisite techniques is resource intensive in terms of time, facilitation, and materials.
There is a lack of infrastructural support such as lack of hospitals and clinics in the less developed and emerging countries owing to which there are not much facilities provided for the treatment of patients. This leads to the decreasing number of surgeries which has created a negative impact on the growth of laparoscopic instruments market.
Global laparoscopic instruments market is segmented based on product type, application and end user.
On the basis of product type, the market is segmented into laparoscopes, energy devices, insufflators, suction/irrigation systems, closure devices, hand instruments, access devices, laparoscopic scissors, laparoscopic hooks and accessories. Laparoscopes are sub-segmented into video laparoscopes and fiber optic laparoscopes. In 2019, laparoscopes segment is projected to lead with the shares 18.9% and will attend the highest CAGR of 10.1% in the forecast period of 2019 to 2026.
On the basis of application, the market is segmented into gynaecological surgery, general surgery, urological surgery, colorectal surgery, bariatric surgery, pediatric surgery and others. In 2019, general surgery segment is projected to lead with the shares 21.0%, whereas the gynaecological surgery is growing with the highest CAGR of 9.9% in the forecast period of 2019 to 2026.
On the basis of end user, the market is segmented into hospitals, ambulatory surgical centers and specialty clinics. In 2019, hospitals segment is projected to lead with the shares 63.4% and will attend the highest CAGR of 9.7% in the forecast period of 2019 to 2026.
Some of the major players operating in this market are KARL STORZ SE & Co. KG, Mediflex Surgical Products, Olympus Corporation, Stryker, Microline Surgical, GRENA LTD, Timesco Healthcare Ltd., Maxer Endoscopy GmbH, Péters Surgical, Ackermann Instrumente GmbH, Hospiinz, Surgical Innovations, B. Braun Melsungen AG, Smith & Nephew, CONMED Corporation, COOK GROUP, MEDTRONIC, Richard Wolf GmbH, Medline Industries, Inc., Johnson & Johnson Services, Inc. and others.
Global Laparoscopic Instruments Market - Industry Trends and Forecast to 2028
Asia-Pacific Laparoscopic Instruments Market – Industry Trends and Forecast to 2028
Europe Laparoscopic Instruments Market – Industry Trends and Forecast to 2028
North America Laparoscopic Instruments Market – Industry Trends and Forecast to 2028
Middle East and Africa Laparoscopic Instruments Market – Industry Trends and Forecast to 2028