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The laparoscopic device market is expected to reach $20.5 billion by 2034. It is expected to grow at a constant CAGR of 4.2%.

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Laparoscopic devices market

The value of the laparoscopic devices market is expected to be around $13.59 billion by 2024. Despite supply chain disruptions, the industry is expected to grow at a steady CAGR of 4.2%achieving a quote $20.5 billion by 2034. This growth is largely driven by the rising prevalence of obesity among all age groups.

The rising prevalence of obesity across all age groups is a major factor driving the market growth. Globally, obesity rates are rising, which is driving the demand for minimally invasive surgical options such as laparoscopic equipment. The market is growing as these devices are essential for surgeries aimed at treating obesity-related conditions and weight management.

To reduce the impact of continuous supply chain interruptions, industry participants are actively using various strategies. To meet the growing demand, it is necessary to maintain a constant supply of laparoscopic instruments. The development of supply chain management and strategic alliances is expected to be critical to maintaining market stability and expansion.

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The laparoscopic devices market is expected to grow at a compound annual growth rate (CAGR) of 5.8%, from USD 12.3 billion in 2022 to USD 18.4 billion in 2029.

The laparoscopic device industry is expected to grow significantly over the next ten years due to the rapid growth in demand for minimally invasive surgical procedures and the growing potential for use in colorectal and bariatric surgery.

According to the report, the laparoscopic devices market is expected to expand in the coming years due to a combination of increased foreign direct investment (FDI) in developing countries and marketing and promotional initiatives.

Key takeaways:

There has been a steady increase in demand for bariatric surgery, in line with the growing obese population, coupled with the wide adoption rate of minimally invasive techniques. Sales of laparoscopic devices for bariatric surgery will exceed sales for colorectal surgery by the end of the projection period.

Sales of laparoscopic devices will be higher in North American countries. Availability of skilled surgeons and several advantages of minimally invasive surgery over open surgery are several factors driving the laparoscopic devices market.

Major players in the laparoscopic device market are focusing on technologically advanced surgical systems with increased dexterity, ergonomics and visual enhancements that provide benefits to surgeons and minimize risks to patients during laparoscopic procedures.

The growing consumer base along with modern amenities in the healthcare sector is expected to boost the sales of laparoscopic devices in developing regions.

Growing private and foreign investments in the laparoscopic devices market and adoption of subscription-based marketing model by market participants are expected to shape the entire laparoscopic devices market.

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Key company profiles:

Olympus Corporation

Braun Melsungen AG

Intuitive Surgery Inc.

Medtronic limited liability company

Stryker company

Smith & Nephew Limited

CareFusion Corporation

Ethicon US, LLC

KARL STORZ GmbH & Co. KG

Richard Wolf GmbH

Endocontrol S.A.

Tekno-Medical Optik Surgery GmbH

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Laparoscopic Devices Market by Category:

By product:

  • Direct Energy System Devices
  • Trocars/access devices
  • Internal locking devices
  • Laparoscopes
  • Manual Access Tools
  • Insufflation devices
  • Robot-assisted surgical system

By therapeutic use:

  • Surgical treatment of obesity
  • Colorectal surgery
  • General surgery
  • Gynecological surgery
  • Urological surgery

By end user:

  • Hospitals
  • Outpatient surgery centers
  • Clinics

By region:

  • North America
  • Latin America
  • west Europe
  • Eastern Europe
  • Asia Pacific excluding Japan
  • Japan
  • Middle East and Africa (MEA)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner and member of the Greater New York Chamber of Commerce) offers in-depth insights into the factors driving demand in the market. FMI is a leading global provider of market information, advisory services, consultations and events for the packaging, food and beverage, consumer technology, healthcare, industrial and chemicals markets. With a massive team of over 400 analysts worldwide, FMI provides global, regional and local expertise on a variety of domains and industry trends in over 110 countries.

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