The global laparoscopic hand instruments market was valued at USD 9,997.2 Million in 2023 and is expected to reach USD 19.14 Billion by the year 2032, at a CAGR of 8.8%. Laparoscopy is a surgical, diagnostic procedure that is to examine the organs inside the abdomen. It has minimal risk of a small incision, and a thin tube is inserted with a high-resolution camera. The camera sends the images as a video. It is usually done if an individual is suffering from excruciating abdominal pain.
Laparoscopy has only a minimal risk. A small incision is made during the surgery, and it recovers in the post-operative period. Various kinds of laparoscopes are used, which include suturing devices, staplers, and ligation devices. Laparoscopy is done generally for various gynecological problems like endometriosis.
The primary growth factor is the global increase in health care spending and also an increase in the number of bariatric surgeries like gastric bypass, adjustable gastric band, etc. Also, the prevalence of obesity and the development of technology has given a mounted growth to the market.
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Laparoscopes are expensive, and lack of laparoscopic surgeons are the primary restraint to the market. Investments done by government bodies and various private investors in the medical equipment market, including laparoscopic hand instruments and have received grants for innovation in medical devices, instituting new hospitals, better research, and training is given for the purchase of new medical equipment. The rise in the laparoscopic procedures due to various disorders has increased the demand of the market. North America has the highest share in laparoscopic hand instruments market due to the rise in the technological advancements in this region.
Key Coverage of the Report
- Region and country-wise assessment from the period 2023-2032. For the study, 2022-2023 has been utilized as historical data, 2023 as the base year, and 2023-2032, has been derived as forecasts
- Regional Competitors clinical pipeline analysis
- Demand and Supply GAP Analysis
- Market share analysis of the key industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 6 years of all the mentioned segments, and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
Salient Trends of the Laparoscopic Hand Instruments Market
- The prevalence of obesity and urological diseases are expected to boost market growth. Bariatric surgeries are performed to treat obesity. These surgeries further lead to weight loss by limiting the amount of food storage in the stomach. The most common bariatric surgeries include gastric bypass, adjustable gastric band, sleeve gastrectomy, and biliopancreatic (BPD) diversion along with the duodenal switch. In U.S. 228,000 bariatric surgeries were performed. According to the reports of American Society for Metabolic and Bariatric Surgery, of 2017.
- Robot-assisted devices are further expected to give mounting growth during the coming years, due to factors such as new product launches and enhanced patient care services. Such devices develop the capabilities to overcome challenges in sterility, safety, and adaption. In the year 2000, the first robot-assisted surgical device, (da Vinci surgery system) by Intuitive Surgical, was approved by the U.S. FDA. It was intended to improve the feature and enhance the capabilities of the system. Its advanced technology helps surgeons to operate using small incisions. Thus, new product developments and approvals by the regulatory authorities drives the market.
- Financial funding by the government bodies, reimbursement policies impacts the demand of the laparoscopic devices largely. The national science Foundation also provides funding to the Budding surgeons and even for researches mainly on gastrointestinal and minimally-invasive surgeries.
- An increase in demand for multifunctional devices and advancing 3D technology in medical diagnostics are significant factors that are expected to propel the market growth of bariatric surgery and general surgery devices globally. And a rise in the prevalence of gastrointestinal and gynecological disorders. Improved reimbursement policy is a significant factor that is expected to boost the market growth of the segment during the forecast period.
- Strategies adopted by players mainly include product launch, merger & acquisition, expansion, and partnerships & collaborations. The market players embrace these strategies so that to sustain and increase the significant market share in the global market. B. Braun, in April 2020, opened five new pharmaceutical production plants in Penang (a Malaysian state). Here there was the use of new technologies to manufacture medical instruments for surgery, pharmaceutical solutions, and infusion therapy to treat patients in Malaysia and worldwide.
Companies considered and profiled in this market study
Key players of the laparoscopic hand instruments market are Karl Storz GmbH & Co. KG (Germany), Olympus Corporation (Japan), Medtronic plc (Ireland), B. Braun Aesculap (Germany), Stryker Corporation (U.S.), Richard Wolf GmbH (Germany), Ethicon, Inc. (U.S.), Smith & Nephew plc (U.K.), Cook Medical Inc. (U.S.), and ConMed Corporation (U.S.).
- The North American regional segment held the largest share of 31.3 % in the year 2020. Its dominance can be attributed to the increase in investments in R&D activities due to the high prevalence of gynecological issues and obesity. Also, the development and advances in the market have further driven the growth.
- The product segment of laparoscopes is expected to reach market value USD 3.4 billion by the year 2032, showing significant growth during the forecast period.
- The energy devices are expected to grow with a CAGR of 8.3 % during the forecast period.
- As per the applications the market is the largest in bariatric surgeries due to the prevalence of obesity worldwide and also rise in various gynecological issues. The market value was about 3.1 Billion in the year 2020 and is expected to reach 6.1 billion by 2032.
- Asia-Pacific regional segment is expected to remain highest growing segment during 2019-2032, at a CAGR of 9.6% owing to increased technological innovations and funding provided by the government and private organizations. Also increase in the patient population.
Segments covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2023 to 2032. For the purpose of this study, Reports and Data have segmented the Laparoscopic Hand Instruments market on the basis of product, type, application, end use and region:
Product Outlook (Revenue in Million USD; 2023–2032)
- Video Laparoscopes
- Fiber Laparoscopes
- Energy Devices
- Suction/Irrigation Systems
- Access Devices
- Closure Devices
- Hand Instruments
- Robot-Assisted Surgery Systems
Type Outlook (Revenue in Million USD; 2023–2032)
- Rigid laparoscopes
- Flexible laparoscopes
Application Outlook (Revenue in Million USD; 2023–2032)
- Bariatric Surgery
- General Surgery
- Gynecological Surgery
- Urological Surgery
- Colorectal Surgery
- Pediatric Surgery
End use Outlook (Revenue in Million USD; 2023–2032)
- Ambulatory Centers
Regional Outlook (Revenue in Million USD; 2023–2032)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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