The Global Market for Laparoscopic Devices is Projected to Reach US$9.5 Billion by 2020

Expanding Use of Laparoscopy in General Surgery to Drive the Laparoscopic Devices Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Laparoscopic Devices. The global market for Laparoscopic Devices is projected to reach US$9.5 billion by 2020, driven by new advances in laparoscopic hand-access devices, and the resulting increase in laparoscopic procedures in general surgery.

Originally used in the field of gynecology as a diagnostic tool, laparoscopy has evolved to become a standard procedure in general surgery. Given its intrinsic advantages such as limited post-operative trauma, less scars, quick recovery and cost efficiencies in treatment, laparoscopy is increasingly being adopted in numerous surgical fields, such as, gallbladder surgery, hernia repair, and appendectomy, among others. The growth in the market will benefit from continuous advancements in technology and a parallel reduction in the prices of high-end laparoscopic instruments. The resulting decline in the cost of laparoscopy is helping make these procedures affordable to a larger base of patients thus benefiting demand for laparoscopic devices.  

Growing adoption of single-port laparoscopy is a key trend in the market. Spurred by technical capabilities and patient benefits, single port access devices represents a lucrative segment of the laparoscopic devices market. Rising interest in smaller port and scarless surgeries is spurring interest in ultra slim instrumentation that allows surgeons to conveniently access the abdominal cavity through smaller holes. Laparoscopic procedures are poised to benefit from the advances made in the field of high-definition imaging, confocal microendoscopy, videoscopes and fiber optics. Robot-assisted laparoscopic systems will further improve the convenience and efficiency of laparoscopic procedures. The market for direct energy-based devices is witnessing a marked shift towards multifunctional instruments away from single function devices. Demand is especially high for advanced, multifunctional bipolar devices, which enable surgeons to both grasp and seal vessels during surgeries. Several companies have in the recent years, taken to manufacturing multifunctional devices in response to this emerging trend.

As stated by the new market research report on Laparoscopic Devices, the United States represents the single largest market, while Asia-Pacific and Latin America represent rapidly growing markets worldwide. Asia Pacific is forecast to grow at the fastest CAGR of 8.6% over the analysis period. Improving healthcare infrastructure and ability to perform laparoscopic procedures cost effectively are major factors driving growth in the region.

Major players covered in the report include B. Braun Melsungen AG, Aesculap AG, Boston Scientific Corp., Conmed Corp., Ethicon Endo-Surgery, Inc., STRYKER Corp., and Teleflex, among others.

The research report titled "Laparoscopic Devices: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, and strategic industry activities of major companies worldwide. The report provides market estimates and projections for product segments including Laparoscopes, Trocars, Insufflation and Suction/Irrigation Devices, Closure Devices, Hand Instruments, Direct Energy Devices, Gastric Band, Hand-Assist Devices, and Other Laparoscopic Devices. Geographic markets analyzed include the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East and Latin America (Brazil and Rest of Latin America).