Laparoscopy Devices Market to Reflect Significant Growth Pace by 2027
The global laparoscopy devices market was valued at $12,067.60 million in 2019, and is projected to reach $18,907.05 million by 2027, registering a CAGR of 5.8%.
Laparoscopy is a minimally invasive procedure used to examine organs inside the abdomen or pelvic cavities by inserting a laparoscope through a small incision in the abdomen. A laparoscope comprises a long, thin tube with high-intensity light and high-resolution camera attached in the front. The camera transmits images to the monitor as it travels through the abdomen.
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Key Business SWOT Companies In the Laparoscopy Devices: B. Braun Melsungen AG, Boston Scientific Corporation, ConMed Corporation, Johnson & Johnson, Karl Storz SE & CO. KG, Medtronic plc (Covidien), Olympus Corporation, Richard Wolf GmbH, Smith & Nephew plc, Stryker Corporation & more.
Laparoscopy is used for diagnosis and treatment of endometriosis, ectopic pregnancy, pelvic inflammatory disease (PID), cysts, and fibroids. Rise in cases of morbid obesity at global level is the major factor that drives the market growth. In addition, growth in bariatric surgeries performed globally to reduce weight enhances the market growth. As per data published by the American Society for Metabolic & Bariatric Surgery (ASMBS), in 2018, the total number of bariatric surgeries performed in America alone were 252,000. However, dearth of skilled professionals and high cost of these devices restrain the market growth. Furthermore, increase in adoption of robot-assisted laparoscopic surgeries and introduction of innovative laparoscopic devices in the market offer lucrative opportunities for the market growth.