Laparoscopy Device Market Size Expected To Reach At 7.2% CAGR by 2023 – Recent Trend and Industrial Demand

Laparoscopy Device Market
Laparoscopy Device Market report titled “Laparoscopy Device Market Research Report – Forecast to 2023” is an expert analysis featured report provides Product, Application, and End-User Global Forecast Till 2023

The Worldwide Laparoscopy Device Market is expected to reach an approximate CAGR of 7.2% during the forecast period 2018-2023. Laparoscopy devices are used for diagnosing various gynecological diseases, urological diseases, and chronic diseases such as cancer.

The increasing preference for minimally invasive procedures is the key factor for the market to grow. Others factors such as increasing prevalence of colorectal cancer, rising bariatric surgeries, and growing adoption of gynecologic laparoscopy in conditions such as endometriosis, cysts,  fibroids, hysterectomy, and others also boost the market.

According to the Centers for Disease Control and Prevention in 2016, 67.3% of the Americans (age group 50 to 75 years) were screened for colorectal cancer. Thus, the growing prevalence of such diseases and the rise in government funding for the healthcare sector influence the growth of this market. The growing demand for rapid and precise diagnosis, rising use of laparoscopy devices for diagnostics, and technological advancements are also the key factors for the market to grow.

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Segmentation

The Global Laparoscopy Device Market is segmented on the basis of product, application, and end-user. The laparoscopy device market, by product is sub-segmented into laparoscopes, energy devices, insufflators, robot-assisted surgery systems, suction or irrigation systems, closure devices, hand instruments, access devices, accessories, and others.

On the basis of application, the market is categorized into general surgery, bariatric surgery, gynecological surgery, urological surgery, colorectal surgery, and others. General surgery is further sub-segmented into cholecystectomies, hernia repairs, appendectomies, anti-reflux surgeries, and others. Bariatric surgery is further sub-segmented into gastric bypass, sleeve gastrectomy, gastric banding and others. Gynecological surgery is further categorized into ovarian cystectomy, oophorectomy, myomectomy, hysterectomy, biopsy, and others. On the basis of end-user, the market is segmented into hospitals and clinics, ambulatory surgical centers, laparoscopic centers, and others.

Regional Analysis

The Americas dominated the Global Laparoscopy Devices Market in 2017. This can be attributed to the rising prevalence of endometrial cancer. Removing the uterus is the main treatment for women suffering from endometrial cancer. This is done by laparoscopy, a minimally invasive approach which shortens the recovery time. The American Cancer Society predicted that in 2018, there will be 63,230 new cases of endometrial cancer diagnosed. Such high incidence of endometrial cancer influences the market growth.

Europe (UK, Belgium, France, and Netherlands) is the second largest in the market owing to the increasing prevalence of urology diseases. French and German urologists have developed expertise in laparoscopic treatments of urological disease and tumors. According to the Cancer Research UK, in 2015, there were 12547 newly diagnosed cases of kidney cancer. This influences the market growth in this region.

Asia-Pacific is expected to observe the fastest growth for the global laparoscopy device market owing to the rising number of patient population and increase in adoption of medically advanced devices. The Middle East and Africa accounts for the least share due to stringent government policies and poor economies.

Summarization

Laparoscopy is a surgical diagnostic procedure that enables medical practitioners to examine the organs in the real time. A laparoscope is a tube with a camera which is inserted through an incision in the abdominal wall and allows the surgeons to diagnose a medical condition in the real time. Laparoscopy is carried out when imaging techniques are incapable of the diagnosis of the disease.

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