Published Date : 08 Apr 2024
The global laparoscopy devices market size was evaluated at USD 9.16 billion in 2023 and is expected to attain around USD 14.6 billion by 2030, growing at a CAGR of 6.89% from 2023 to 2030. The laparoscopy devices market is driving the growth of the increasing prevalence of chronic diseases.
Laparoscopy devices are fiber-optic equipment that is used to view abdominal organs by inserting the device through the abdominal wall. It is also used for small-scale surgeries. The laparoscopy devices market deals with the production and distribution of these equipment. The growth of the market is attributed to the rapidly growing geriatric population and increasing sedentary lifestyle, increasing prevalence of colorectal cancer and obesity across all age groups. As a result, the patient pool for chronic diseases is anticipated to enhance the number of surgeries performed, which will help in the growth of disposable laparoscopy devices.
Rising healthcare markets, emerging enhancements, and economies in equipment capabilities in laparoscopic devices are expected to offer significant growth for market players. The emergence of robotic-assisted approaches also plays an important role in shaping this market. In addition, increasing disposable income supports the development and growth of the market. Thus, due to the advantages related to minimally invasive surgeries, the adoption cost has been boosted, which may further increase the growth of the laparoscopy devices market during the forecast period.
The increase in demand for laparoscopic devices is elaborately connected to the widespread adoption of minimally invasive surgery. Surgeons and patients are embracing this approach for its integral benefits. They are smoothing the path of laparoscopic devices. Laparoscopic treatments are saving costs and less invasive in terms of pre-and post-surgery care and the duration of stay in hospitals.
Minimally invasive operations are increasingly being covered in health insurance policies in some countries. These major factors have helped to increase the preference for minimally invasive surgeries among patients. These major factors may drive the further growth of the laparoscopic devices market.
However, the limited indications of laparoscopic surgery may restrain the growth of the laparoscopy devices market. Sometimes, laparoscopy surgery is not suitable for all types of surgical processes. Limitations that undermine the universal device of determining laparoscopy in trauma patients include the problem associated with clear identification of particular injuries such as retroperitoneal and bowel injuries and longer operating room time to set up laparoscopic devices.
Laparoscopy Devices Market Report Scope
| Report Coverage | Details |
| Market Revenue in 2023 | USD 9.16 Billion |
| Projected Forecast Revenue by 2030 | USD 14.6 Billion |
| Growth Rate from 2022 to 2030 | CAGR of 6.89% |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2022 to 2030 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Asia Pacific is expected to grow fastest in the forecast period. The increasing number of healthcare centers and hospitals for laparoscopic surgeries is enhancing the growth of the laparoscopic devices market. In the Asia Pacific region, including India and China, increasing cases of diseases and laparoscopic interventions are enhanced by lifestyle changes, urbanization, and the geriatric population. In many of these developing countries, laparoscopy is becoming excellent for various types of surgeries.
In India, the laparoscopic approach with 3D visual cameras and precision cutting devices assists the surgeon in performing complex surgeries with precision. India has a cheaper robotic surgery cost than any other country. The cost of single robotic surgery in India is 2,000 to 15,800 USD. That's why foreigners prefer Robotic Surgery in India.
North America dominated the laparoscopy devices market in 2023. The growth of the market in North America is attributed to the growing adoption of non-invasive or minimally invasive surgical devices and the increasing prevalence of chronic diseases. In Latin America, countries like Argentina, Mexico, and Brazil are experiencing an increase in laparoscopic processes, driven by the efforts to improve healthcare infrastructure and the rising burden of diseases.
Canada is a developed country in the laparoscopy device market. The increasing prevalence of laparoscopic surgery over open surgeries is dominated by the increased demand for laparoscopic devices such as laparoscopes, and the integration of AI and robotics are some of the main opportunities in Canada.
The increasing healthcare markets in developing countries
The growing healthcare market in emerging countries is due to the public and rising private initiatives undertaken by market key players across the nation. In addition, strengthening the distribution webs of market leaders, increasing patient population, rapid developments in healthcare infrastructure and increasing healthcare expenditure will also help to drive the laparoscopic devices market growth in developing countries.
The availability of high-quality surgical treatments at lower costs than in developed companies has enticed many medical tourists driving the market growth. In addition, the increasing demand for data-integrated procedures is expected to offer significant opportunities for the laparoscopy device market growth and demand.
Market Segmentation
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