Laparoscopic Device Market

Laparoscopic Device Market Outlook from 2024 to 2034

FThe laparoscopic device market is anticipated to be worth USD 13.59 billion in 2024. Companies are using various tactics to deal with supply chain disruptions.

The need for laparoscopic devices is predicted to rise at a sluggish CAGR of 4.2% through 2034. The industry is projected to surpass USD 20.5 billion by 2034. The surge in the prevalence of obesity across all age groups is raising the market growth.

Attributes	Details
Laparoscopic Device Market Value for 2024	USD 13.59 billion
Laparoscopic Device Market Value for 2034	USD 20.5 billion
Laparoscopic Device Market Forecast CAGR for 2024 to 2034	4.2%

Key Highlights of the Laparoscopic Device Industry

• Advantages over open surgeries, like smaller incisions, less discomfort after surgery, shorter hospital stays, and quicker recovery times, laparoscopic treatments have become the procedure of choice for many surgeries.
• The need for laparoscopic surgeries is being driven by conditions like obesity, gastrointestinal issues, and different forms of cancer.
• Governments and the private healthcare sector are investing in healthcare infrastructure and technologies, including laparoscopic equipment to enhance patient outcomes and lower healthcare costs related to lengthier hospital stays and post-operative problems.

Historical Performance and Future Growth of the Laparoscopic Device Market

Historical CAGR	5.3%
Forecast CAGR	4.2%

The historical CAGR of the laparoscopic device market was 5.3%, indicating a moderate growth rate over the past few years. The forecast CAGR is expected to be 4.2%, indicating a slight yet steady fall in the growth rate through 2034.

• Growth in disposable incomes, better healthcare infrastructure, and boost in knowledge of less invasive surgical procedures are contributing to the laparoscopic device market economies.
• A rise in emphasis on enhancement on the safety and efficacy of laparoscopic procedures can be seen on value-based healthcare.

The forecast CAGR of 4.2% indicates a significant fall in the growth rate of the market in comparison to the historical CAGR in the future. The decline in CAGR can be attributed to several factors, including

• The market may be reaching a point of saturation in certain regions or segments due to the boom in adoption of laparoscopic devices, which further results in slower growth rates.
• Healthcare spending and investment in medical equipment are mainly impacted by economic downturns or uncertainties in important markets, leading to slower growth rates than in previous years.

Key Threats Hindering the Laparoscopic Device Market

• Rapid advancements in technology, like emergence of robotic-assisted surgery and alternative minimally invasive techniques, could restrict the demand for traditional laparoscopic devices.
• Intense competition among key players lead to pricing pressures, erosion of profit margins, and challenges in market share retention.
• Reduction in reimbursement rates or restrictions on coverage for laparoscopic surgeries dampen the healthcare providers from investing in laparoscopic devices, affecting market growth.
• High-profile product recalls or safety warnings may lead to defamation of the reputed manufacturers and deter future adoption of their devices, impacting market growth.

Country-wise Insights

The table analyses the top five countries ranked by revenue, with India holding the top position.

Due to robust medical tourism industry, cost-effective yet high-quality healthcare services are offered.

India attracts a significant number of international patients seeking minimally invasive surgical procedures performed using laparoscopic devices.

Forecast CAGRs from 2024 to 2034

Countries	CAGR from 2024 to 2034
The United States	2.6%
Canada	4%
France	3%
Thailand	5.8%
India	6.2%

Minimally Invasive Surgery (MIS) Drive the United States Market

• Minimal invasive surgical procedures, including gynecology, urology, general surgery, and bariatric surgery are taking place where laparoscopic devices are extensively used in the United States.
• Common laparoscopic procedures are performed in the United States include laparoscopic cholecystectomy (gallbladder removal), laparoscopic appendectomy, laparoscopic hysterectomy, and laparoscopic colectomy.

Surgical Specialties Impresses the Market Growth in Canada

• Laparoscopic devices are extensively utilized across a wide range of surgical specialties, like general surgery, urology, gynecology, and gastroenterology.
• Laparoscopic procedures including laparoscopic hernia repair, laparoscopic prostatectomy, laparoscopic ovarian cystectomy, and laparoscopic colorectal surgery are often performed in healthcare facilities in Canada.

Gynecological Surgery Drives the Market in France

• A large percentage of laparoscopic equipment is used for treatments including laparoscopic hysterectomy, myomectomy, and endometriosis therapy as France is recognized for its proficiency in laparoscopic gynecological surgery.
• Laparoscopic techniques are required in gynecological treatments, which are also used for pelvic floor repair, ovarian cystectomy, and tubal ligation.

Thailand Market Boosts Medical Tourism

• Thailand has become a well-liked travel destination for medical tourism, which majorly includes laparoscopic surgery and other minimally invasive surgical treatments.
• International patients travel to the nation for accessing high-quality and reasonably priced healthcare services, including laparoscopic procedures.

Affordable Healthcare Raises the Market Growth in India

• Laparoscopic instruments are important due to the provision of accessible and reasonably priced healthcare facilities in India, especially in tertiary care hospitals and metropolitan areas.
• India comprises of a wide range of patients that receive laparoscopic procedures, including laparoscopic gallbladder removal, laparoscopic hernia repair, laparoscopic hysterectomy, and laparoscopic bariatric surgery.

Category-wise Insights

The below section shows the leading segment. Based on product type, the direct energy system device is accounted to hold a market share of 28.5% in 2024. Based on application, the bariatric surgery segment is accounted to hold a market share of 28% in 2024.

The growth of direct energy system devices is fueled by the ability to provide surgeons which explicitly control over effective tissue sealing and cutting capabilities.

Bariatric surgery is becoming more popular as it provides a practical way in losing weight and addressing comorbidities associated with obesity.

Category	Market Share in 2024
Direct Energy System Device	28.5%
Bariatric Surgery	28%

Direct Energy System Device to Hold a Significant Share in the Market

In 2024, the direct energy system device segment has a market share of 28.5%. The devices play a demanding role in minimally invasive surgeries, which offer precise control and effective tissue sealing and cutting capabilities by the surgeons.

Technological developments and rise in the usage of direct energy system devices by medical facilities have made vital instruments for a variety of surgical procedures, which has highly boosted their market domination.

Bariatric Surgery Segment to Hold a Dominant Share in the Market

The bariatric surgery segment holds a market share of 28% in 2024, reflecting the boost in demand for laparoscopic procedures by addressing obesity-related health concerns. Bariatric surgeries, like gastric bypass and sleeve gastrectomy, lead to utilization of laparoscopic techniques in reducing the size of the stomach by promoting weight loss.

With rise in obesity rates and growth in the awareness of the benefits of minimally invasive approaches, the bariatric surgery segment is anticipated to continue its strong growth trajectory in the coming years.

Competitive Landscape

Innovative companies are disrupting traditional players by introducing novel technologies and approaches in the laparoscopic device market. Startups are ascending advancements in robotics, artificial intelligence, and miniaturization for developing cutting-edge laparoscopic devices offering improved precision, efficiency, and patient outcomes.

Startups hence focus on niche segments or specialize in specific aspects of laparoscopic surgery, like imaging systems, energy devices, or surgical robotics.

Key developments in the laparoscopic device industry

• In February 2023, Asensus Surgical, Inc. announced a Memorandum of Understanding with KARL STORZ VentureONE Pte. Ltd., that focused on endoscopes and laparoscopic vision systems.
• In January 2022, Seger Surgical Solutions developed the LAP IA 60 device for intracorporeal anastomosis. The device efficiently aligned, sealed, and stapled intracorporeal anastomosis openings, which offered a secure and rapid solution without the need for internal fixation.

Key Coverage in the Laparoscopic Device Industry Report

• Adjacent Study on Laparoscopic Device Market, Laparoscopy Instruments Market
• Industry Analysis of Laparoscopy and Endoscopy Devices
• Laparoscopic Device Market Size, Current Insights, and Demographic Trends
• Demand for Laparoscopic Device Market
• Key Strategies in Global Laparoscopic Device Market

Report Scope

Attributes	Details
Estimated Market Size in 2024	USD 13.59 billion
Projected Market Valuation in 2034	USD 20.5 billion
Value-based CAGR 2024 to 2034	4.2%
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	Value in USD billion
Key Regions Covered	North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East and Africa
Key Market Segments Covered	Product,   Therapeutic Application,   End-user,   Region
Key Countries Profiled	The United States,  Canada,  Brazil,  Mexico,  Germany,  The United Kingdom,  France,  Spain,  Italy,  Russia,  Poland,  Czech Republic,  Romania,  India,  Bangladesh,  Australia,  New Zealand,  China,  Japan,  South Korea,  GCC countries,  South Africa,  Israel
Key Companies Profiled	Olympus Corporation;  B. Braun Melsungen AG;  Intuitive Surgical Inc.;  Medtronic plc.;  Stryker Corporation;  Smith & Nephew Plc;  CareFusion Corporation;  Ethicon US, LLC;  Tekno-Medical Optik Surgery GmbH;  Richard Wolf GmbH;  Endocontrol SA

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
• 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product
  • 5.1. Direct Energy System Devices
  • 5.2. Trocars/Access Device
  • 5.3. Internal Closure Devices
  • 5.4. Laparoscopes
  • 5.5. Hand Access Instruments
  • 5.6. Insufflation Devices
  • 5.7. Robotic Assisted Surgical System
• 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Therapeutic Application
  • 6.1. Bariatric Surgery
  • 6.2. Colorectal Surgery
  • 6.3. General Surgery
  • 6.4. Gynecological Surgery
  • 6.5. Urological Surgery
• 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End User
  • 7.1. Hospitals
  • 7.2. Ambulatory Surgical Centers
  • 7.3. Clinics
• 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
  • 8.1. North America
  • 8.2. Latin America
  • 8.3. Western Europe
  • 8.4. Eastern Europe
  • 8.5. South Asia and Pacific
  • 8.6. East Asia
  • 8.7. Middle East and Africa
• 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 16. Key Countries Market Analysis
• 17. Market Structure Analysis
• 18. Competition Analysis
  • 18.1. Olympus Corporation
  • 18.2. B. Braun Melsungen AG
  • 18.3. Intuitive Surgical Inc.
  • 18.4. Medtronic plc.
  • 18.5. Stryker Corporation
  • 18.6. Smith & Nephew Plc
  • 18.7. CareFusion Corporation
  • 18.8. Ethicon US, LLC
  • 18.9. Tekno-Medical Optik Surgery GmbH
  • 18.10. Richard Wolf GmbH
  • 18.11. Endocontrol SA
• 19. Assumptions & Acronyms Used
• 20. Research Methodology