According to medical market research, the laparoscopic devices and accessories market is valued at over $ 13.7 billion. It is expected to grow at a rate of at least 1.8% and reach $ 15.6 billion by 2026.
This is a rapid growth rate for any medical device market. This can be explained by the advantages of laparoscopic devices and accessories. They can be used in different processes, are available in different designs and, thanks to effective training, are easier to use than ever before.
Read on to find out more about the incredible growth in the laparoscopic devices and accessories market.
What are laparoscopic devices and accessories?
Understanding the growth of laparoscopic devices and accessories begins with understanding what they are used for. They were developed in the last century and are becoming increasingly popular.
Laparoscopy is also known as peritoneoscopy. It's a method of examining the abdominal cavity with a small camera known as an endoscope.
Over 14 million laparoscopic procedures are performed every year. Specific applications include:
- Diagnosis of abdominal pain
- Bariatric surgery
- Reflux treatment
- Ligation of the fallopian tubes
- Removal of the gallbladder
- Hernia repair
- Tumor removal
This multitude of procedures requires a wide range of tools and accessories. Doctors need at least an endoscope, camera, light, video monitor, insufflator, and surgical instruments like scalpels and sutures.
Laparoscopy is less invasive than traditional surgery. It also requires less anesthesia, uses smaller incisions, and allows patients to enjoy less pain and shorter recovery times.
What does the research show?
The data show the impressive growth in laparoscopic interventions and the devices and accessories used for them. This also shows that the competition between the companies that offer them is getting more intense.
There are over 70 laparoscopic equipment companies in 70 countries. The competition between them is fierce, but medical device market research can show who is winning the battle.
Medtronic and Ethicon currently hold the largest market share and dominate the closure, direct energy and ultrasound instruments segments. Olympus ranks third thanks to its high quality imaging products with a strong presence in Asia. Applied Medical ranks third in North America. Karl Stortz is third in Western Europe.
Several factors continue to increase the demand for laparoscopic devices and accessories. These include aging populations, overcrowded hospitals in need of efficient care, and better education.
Healthcare providers consider energy needs when choosing a device for a procedure. Direct energy devices are the fastest growing segment. Advanced bipolar devices are one of the most popular types.
A Medical Devices market research report contains data on the growth of Laparoscopic Devices and other medical devices. Please see this product page for more information.
Where can I find more data?
Market research in the medical device industry provides a range of helpful data. Learn how device sales and profits change, and how that money is distributed across different companies and regions.
Device manufacturers compete for your attention, but so do medical market research companies. Knowing where to find your data will give you the most accurate picture. This is useful whether you are a healthcare provider or an interested viewer.
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