Global Laparoscopy Devices Market to Reach US$12.3 bn by 2019
A new report published by Transparency Market Research (TMR) presents an in-depth elaboration on the global laparoscopy devices market. The report, titled “Laparoscopy Devices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019”, is available for sale on the company’s website.
According to the research report, the global laparoscopy devices market was valued at US$7.5 billion in 2012 and is expected to reach US$12.3 billion by 2019, growing at a CAGR of 7.1% from 2013 to 2019. The report opens a discussion about the key market drivers for laparoscopy devices, the restraints, growth opportunities, and threats.
The growing concerns about weight gain and morbid obesity are leading to increasing bariatric procedures, many of which use laparoscopy devices for gastric band surgery. In the coming years, as obesity continues to be the biggest battleground for many people, these gastric band surgeries are going to be the biggest application of laparoscopic devices.
The global laparoscopy devices market is segmented on the basis of equipment, application, and geography. The equipment types in the global laparoscopy market are inclusive of wound protector laparoscope, irrigation system, internal closure devices, insufflation devices, trocars, hand-assist devices, energy systems, sample retrieval bag, and the gastric band. The applications of laparoscopy are seen in general surgeries such as appendectomies, cholecystectomies, hernia repairs, and antireflux surgeries, bariatric surgeries such as sleeve gastrectomies, gastric bypass, and gastric banding, colorectal surgeries, urological surgeries such as prostatectomies and nephrectomies, and gynecological surgeries. Geographically, the global laparoscopy devices market has been divided into the regions of North America, Europe, Asia Pacific, Latin America, and Rest of the World.
The key market driver for the global market for laparoscopy devices are advantages such as quick recovery and reduced time spent at the hospital. The continuous advances in these devices have made them an integral part of operation units. The biggest application of laparoscopy devices is seen in bariatric surgeries, due to the growing number of obese people across the globe. Furthermore, the growing number of cholecystectomy surgeries performed around the world is also making a significant contribution to the growth of the global laparoscopy devices market.
Europe and North America hold the lion’s share in the global laparoscopy devices market and are likely to continue their dominance all through 2019. Analysts predict Asia Pacific and Latin America will also offer great opportunities to this market in the coming future. The key market drivers will be the rising disposable income, growing investment in healthcare facilities, and high prevalence of several diseases.
The key players in the global laparoscopy devices market are Ethicon Endo-Surgery (a subsidiary of J&J), Covidien, Olympus, Intuitive Surgical, Stryker, Boston Scientific Corporation, Smith & Nephew, Aesculap, Karl Storz, and ConMed.