The Global "Laparoscopic Instruments Market" is expected to grow at a CAGR during the forecasting period (2022-2029).
Laparoscopy is referred to as a type of surgery in which small incisions are made in the body, such as the abdominal wall through which a laparoscope, as well as other instruments, can be placed to allow structures within the internal body cavity to be seen. Various probes or other instruments can also be pushed through these small incisions in the skin, thus, enabling several activities including both diagnosis and treatment.
The global laparoscopic instruments market growth is driven by the growing demand for minimal or zero invasive surgeries, the increasing number of healthcare centers and super-specialty hospitals around the globe.
The Increasing adoption of minimally invasive surgeries over open surgeries will drive the market growth
Laparoscopic procedures are less invasive and save costs in terms of pre-and post-operation care and the length of stay in hospitals. These surgeries result in less blood loss, fewer postoperative complications, and a shorter recovery time for patients. In addition, minimally invasive surgeries are increasingly being covered by health insurance providers in select countries. These factors have led to an increased preference for minimally invasive surgeries among patients. Around 15 million laparoscopic procedures are performed annually worldwide, and this number is estimated to grow significantly in the coming years. Laparoscopic colectomy, laparoscopic appendectomy, laparoscopic cholecystectomy, laparoscopic repair of inguinal hernia, laparoscopic hysterectomy, and laparoscopic bariatric surgeries holds a major share (approximately 40–45%) in the surgical procedures market. Traditional open surgeries involve long incisions made through the muscles, and these muscles take a considerable amount of time to heal, whereas MIS procedures involve smaller incisions, leading to a quicker recovery. These surgeries have been gaining wider acceptance among the geriatric population, due to the relatively shorter recovery time. Few organizations, such as the American Association of Gynecologic Laparoscopists (AAGL) and the International Society of Gynecologic Endoscopy (ISGE), have been collaborating with healthcare agencies in South Africa, to create awareness about the benefits of MIS, and improve the adoption rate.
Gaps in infrastructure support for laparoscopic procedures in developing countries is likely to hamper the market growth
Access to basic surgical procedures is a major challenge faced by developing countries. Countries such as India, South Korea, and Singapore are making efforts to improve their infrastructure by increasing the number of hospitals and training centers for providing continuing medical education in fields such as laparoscopic surgeries. However, there remains a wide gap in the infrastructure available in these developing countries to support advanced medical procedures, such as laparoscopy. Developing countries face the challenge of bridging the gap in terms of infrastructural support available for performing laparoscopic procedures. For instance, as many as 5 billion people, or two-thirds of the world’s population, lack access to surgical facilities. This restricts the number of laparoscopic procedures performed in these countries and poses a challenge for the laparoscopic instruments market.
During the Covid-19 outbreak, hospitals all around the world reduced elective and non-urgent cases to maintain social distancing and avoid transmission of the virus. However, urgent gynecological and cancer procedures were being performed, and it's critical that all theatre staff be safeguarded, and the risk of SARS-CoV-2 viral transmission is minimized when operating on asymptomatic or diagnosed COVID-19 patients. For instance, the Saudi Arabia National Cancer Institute (SANCI) issued a guideline for caregivers and cancer facilities in March 2020 to reduce the impact of COVID-19 on cancer patients. COVID-19 has a significant impact on urological care and urologist recruitment in this region. The urology practice has been changed due to the exceptional impact on the healthcare system during the pandemic. According to a 2020 study published in the Dove press, an increase in delayed urological services during the pandemic was observed which resulted in a wait of 8 weeks in outpatient clinics. However, as the COVID cases started declining the number of surgeries performed started returning to the provided levels.
The chemotherapy segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)
Bariatric surgery or weight loss surgery is used as one of the major treatment procedures for treating obesity. During this procedure, the size of the stomach is reduced by either removing some parts of the stomach or using a gastric band. There has been increasing obesity rates among children and adolescents across the globe which is leading to the number of young patients undergoing bariatric surgery. With the increasing bariatric surgical procedures, it is likely to raise demand for disposable laparoscopic devices. For instance, according to a research study by Ernie P.Inocian et al., published in Surgery for Obesity and Related Diseases Journal June 2021, there is an increasing volume of bariatric surgeries in the Middle East to address obesity and metabolic disorders. Thus, bariatric surgical procedures continue to gain acceptance as a treatment for severe obesity in the Middle East and North Africa regions which shows a positive impact on the market growth.
According to the World Health Organization (WHO) 2021, across the world, obesity has almost increased three-fold since 1975. In the five–19 age bracket, over the same period of time, obesity has increased from less than 1% to 7%. The WHO states that most of the world's population live in countries where overweight and obesity kill more people than underweight. Bariatric surgical procedures cause weight loss by restricting the amount of food the stomach can hold, causing malabsorption of nutrients, or by a combination of both gastric restriction and malabsorption. Laparoscopic bariatric surgery is safe in the elderly population, and it is similar to bariatric procedures.
North America region holds the largest market share of the global laparoscopic instruments market
North America is anticipated to dominate the laparoscopy devices market, globally. The factors attributed to the high growth of the region are the increasing number of obesity, along with various chronic diseases, and the growing adoption of minimally-invasive surgeries in the region. According to an article published by the Center for Disease Control and Prevention updated in April 2021, six in ten adults in the United States have at least one chronic disease and four in ten adults have two or more chronic diseases. Thus, the high prevalence of chronic diseases in the country increases the demand for minimally invasive surgeries thus driving the laparoscopy devices market.
In addition, organic and inorganic strategies such as mergers and acquisitions and partnerships within key market players will strengthen their product portfolio in the studied market which will drive the market. Also, several product launches in the market will also lead to lucrative growth of the market. For instance, in June 2021, Ethicon, part of the Johnson & Johnson Medical Devices Companies, launched ENSEAL X1 Curved Jaw Tissue Sealer, a new advanced bipolar energy device that increases procedural efficiency and provided stronger sealing and better access to more tissue. The device is indicated for colorectal, gynecological, bariatric surgery, and thoracic procedures. Furthermore, advancements in various surgical devices from established key players, in the United States, are likely to drive the market growth in North America.
The laparoscopic instruments market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include B. Braun Melsungen AG, Boston Scientific Corporation, ConMed Corporation, Johnson & Johnson (Ethicon Inc.), Karl Storz GmbH & Co.KG, Medtronic PLC. (Covidien), Olympus Corporation, Richard Wolf GmbH, Smith & Nephew PLC, Stryker Corporation among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the laparoscopic instruments market globally. For instance, In 2018, Stryker Corporation (US) Acquired K2M Group to strengthen and expand its offerings in the arthroscopy and minimally invasive spine portfolio, as well as expand its additive manufacturing capabilities.
Medtronic plc develops, manufactures, distributes, and sells device-based medical therapies to hospitals, physicians, clinicians, and patients worldwide. It operates through four segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical-Surgical Portfolio, and Diabetes Operating Unit.
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