Industry Outlook and Trend Analysis
The Laparoscopic Devices Market was worth USD 9.02 billion in 2014 and is expected to reach approximately USD 14.90 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 5.73% during the forecast period. Laparoscopy is an insignificant obtrusive method performed by keyhole entry point, particularly utilized for stomach organs. The main targeted regions treated through laparoscopy incorporate bile pipe, colon, liver, pancreas, and others. Over the previous years, the interest for laparoscopy devices has expanded fundamentally, inferable from the coming of innovative headways in vitality gadgets and laparoscopes.
Drivers & Restrains
The laparoscopic devices market is driven by the development in pervasiveness of sullen corpulence that prompts the expanded interest for bariatric medical procedure, for example, gastric sidestep, sleeve gastrostomy, and gastric banding through laparoscopy. In addition, surge in human services use by rising Asian-Pacific nations, for example, India, China, and others, is required to make new open doors for market development. However, absence of talented experts for laparoscopic techniques and post-operative risks related with laparoscopy limit the market development.
Regional Outlook and Trend Analysis
North America is expected to show considerable growth over the forecast period. It was trailed by Europe which is expected to show second highest developed over the forecast period. The greater offers earned by these districts are primarily a direct result of the high transfer salary of the general population and the development of cutting edge remedial and symptomatic systems in these locale. Asia-Pacific is among most lucrative locale in the overall laparoscopy device market, trailed by South America. Growing social insurance system has incited surging therapeutic tourism market which represents rising need of laparoscopy devices in these territories.
The leading players in the market are Stryker Corporation, Johnson & Johnson, Karl Storz GmbH & Co.KG, Boston Scientific Corporation, Medtronic plc (Covidien), Olympus Corporation, Richard Wolf GmbH, ConMed Corporation and others. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Laparoscopic Devices Market is segmented as follows-
By Product Type:
Hand Access Instrument
Robot Assisted system
Suction/ Irrigation device
By End User:
Ambulatory Surgical Centres
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?