This market research report includes a detailed segmentation of the global laparoscopic devices market by product type (laparoscopes and instruments and accessories), by technique (traditional laparoscopy and robotic laparoscopy), by application (urological surgery, gynecological surgery, general surgery, and gastrointestinal surgery), and by geography (the Americas, APAC, and EMEA). The key vendors analyzed in this report are Ethicon, Karl Storz, Intuitive Surgical, Medtronic, and Olympus.
Technavio has released its new market research report, global laparoscopic devices market, which is expected to grow at a CAGR of over 8% between 2016 and 2020. Laparoscopic instruments are in high demand now-a-days, owing to the growing preference for minimally invasive procedures due to benefits like lower risk of complications, reduced cost, and lesser recuperation period. The Americas occupy 63% of the total market, where the US is the highest revenue contributor. One of the major factors that contributed to the growth of the market was the rise in the aging population, with increased prevalence of chronic diseases, like urological, obesity, and gastrointestinal.
“The growing adoption of minimally invasive surgeries has led to higher accuracy in procedures and better support for both patients and surgeons. Advances in technology have resulted in the introduction of innovative laparoscopic devices. The use of robotic technology in laparoscopic devices with advanced needle placement technology has enhanced the surgeon’s skills and reduced variability. This technique involves the use of a sophisticated computer system with a 3D monitor and small controllers to observe the inside of the abdomen,” says Brahadeesh Chandrasekaran, Lead Analyst, Healthcare & Lifesciences, Technavio Research
Of late, the minimally invasive laparoscopic surgery is witnessing single-incision laparoscopic techniques. These techniques help in minimizing the occurrence of scars caused by standard laparoscopy, thanks to the introduction of new multichannel access devices and articulating instruments. Surgeons are using this technique to perform various surgical procedures including a cholecystectomy, an appendicectomy, a nephrectomy, an adrenalectomy, a hysterectomy, an oophorectomy, a hernia repair, a splenectomy, or a colon resection.
The major players in the global laparoscopic devices market include Ethicon, Karl Storz, Intuitive Surgical, Medtronic, and Olympus. The market is dominated by a few players, and the market is growing at a significant rate. Although advanced surgeries such as gastrointestinal, gynecology, and general surgeries are expensive, the market is growing and presents immense growth opportunities for vendors due to the growing number of laparoscopic procedures worldwide. In 2015, Ethicon, Medtronic, and Olympus together accounted for about 50% of the global market and marked their dominance.
A more detailed analysis is available in the Technavio report, Global Laparoscopic Devices Market 2016-2020.
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