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The laparoscopic device market will grow rapidly and is expected to reach $20.5 billion by 2034 at 4.2% CAGR

Posted on by darion

Laparoscopic device

The laparoscopic device market is on track to achieve valuation $13.59 billion in 2024. Despite supply chain disruptions, companies are implementing innovative strategies to ensure the continued availability of these essential surgical tools.

As the prevalence of obesity increases in all age groups, the need for laparoscopic devices will increase. Although the market is expected to grow at a modest compound annual growth rate (CAGR) of 4.2% it is projected to exceed an impressive figure by 2034 $20.5 billion until the end of the forecast period.

Laparoscopic devices are revolutionizing minimally invasive surgery, offering precision, reduced recovery time and better patient outcomes. As demand for advanced surgical solutions increases, the market for these devices continues to grow, driven by the critical role they play in the fight against the global obesity epidemic.

The skyrocketing rates of obesity underscore the growing demand for laparoscopic procedures, which offer minimally invasive surgical solutions to the treatment of obesity and related conditions. Laparoscopic devices play a key role in these procedures, enabling surgeons to perform complex operations with greater precision and reducing patient recovery time.

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

The laparoscopic device industry is expected to experience significant growth over the next ten years. due to the rapid increase 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 grow 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 is a steady increase in demand for bariatric surgery, in line with the growing obese population coupled with the widespread dissemination of minimally invasive techniques. By the end of the forecast period, sales of laparoscopic devices for bariatric surgery will exceed sales of devices for colorectal surgery.

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

Major players in the laparoscopic device market are focusing on technologically advanced surgical systems with enhanced 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 facilities in the healthcare sector are expected to increase sales of laparoscopic devices in developing regions.

Increasing private and foreign investments in the laparoscopic devices market and the adoption of a subscription commerce marketing model by market participants are expected to shape the overall laparoscopic devices market.

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Profiled key companies:

Olimp company

Braun Melsungen AG

Intuitive Surgery Inc.

Medtronic limited liability company

Stryker company

Smith & Nephew Limited

CareFusion Company

Ethicon US, LLC

KARL STORZ GmbH & Co. KG

Richard Wolf GmbH

Endocontrol SA

Tekno-Medical Optik Surgery GmbH

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Laparoscopic devices market by category:

By product:

  • Direct energy system devices
  • Trocars/access device
  • Internal closing 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)

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner and member of the Greater New York Chamber of Commerce) offers in-depth knowledge of the factors driving market demand. FMI is a leading global provider of market information, advisory, consulting and events services 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 in a variety of domains and industry trends in over 110 countries.

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