Laparoscopic Instruments Market size worth over $20bn by 2026

Laparoscopic Instruments Market size is set to surpass USD 20 billion by 2026, according to a new research report by Global Market Insights Inc.
 

Laparoscopic procedures have experienced substantial growth from the past several decades and are considered a standard of care for many procedures. The adoption of laparoscopic procedures in urological disorders and cholecystectomy have uplifted the market growth. Furthermore, growing number of surgical procedures such as tubal ligation, hysterectomy, colorectal cancer, will increase the demand for laparoscopic instruments. Additionally, several advantages associated with the advanced laparoscopy such as greater ease, decreased risk of long-term complications, greater speed for lysis of adhesions makes laparoscopy a preferred option.
 

High preference for minimally invasive surgical procedures will contribute to the laparoscopic instruments market expansion

The preference for minimally invasive surgical procedures has increased in the last few years owing to less pain associated with these surgeries over open surgeries. Minimally invasive surgical procedures assist patients in reducing their hospital stays, recovery times, and wound-related complications hence, they are highly preferred across the globe. Moreover, constant innovations have witnessed a shift from traditional surgical techniques to minimally invasive surgical techniques.
 

Several benefits of energy devices will drive the segment growth in the coming years

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The energy devices segment valuation was around USD 2.1 billion in 2019.due to several advantages that include rising versatility and less time for cutting, coagulation and tissues dissecting during laparoscopic surgical procedures. In addition, the technological advancements in the energy devices will further impel the segment growth.
 

Browse key industry insights spread across 395 pages with 640 market data tables & 18 figures & charts from the report, “Laparoscopic Instruments Market Size, By Product (Laparoscopes {Video Laparoscopes, Fiber Laparoscopes}, Energy Devices, Insufflators, Suction Systems, Closure Devices, Hand Instruments, Access Devices, Laparoscopic Accessories), By Application (Gynecological Surgery, General Surgery, Urological Surgery, Colorectal Surgery, Bariatric Surgery, Pediatric Surgery), By End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Development Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/laparoscopic-instruments-market
 

Growing cases of colorectal cancer across the globe have spur the market demand

The colorectal surgery application segment in the laparoscopic instruments industry is projected to register a growth of around 17.4% through 2026 propelled by the growing number of colorectal cancer cases across the globe. Colorectal cancer is the third leading cause of cancer related death in the U.S. According to the recent news article, in 2019, around 1,000,000 colorectal cancer procedures were performed across the globe through laparoscopic instruments. In addition, the post-operative benefits of this procedure have added an impetus to the market value.
 

High incidence of obesity and other medical conditions will positively influence the growth

The ambulatory surgical centers segment is estimated to expand at a CAGR of 12% till 2026 led by high incidence of medical conditions such as colorectal cancer, obesity, gynecological disorders, among others. Numerous therapeutic approaches have been advised; however, surgical intervention is the only effective treatment proven for the long run. Thus, such high occurrence of obesity will require laparoscopic surgical procedures that will ultimately fuel the market size.
 

Increasing number of surgical procedures and high demand for minimally invasive surgeries will prove beneficial for the UK market growth

UK laparoscopic instruments market held a considerable share in 2019 and is anticipated to showcase more than 10.7% gains during 2020-2026. Increasing number of people opting for laparoscopic procedures for different surgeries in the country will propel the growth. For instance, as per the recent news article, in 2019, in UK, there were over 300,000 surgical procedures performed through laparoscopy and the same trend is expected to continue in the coming years. Thus, such large patient pool will upsurge the demand for laparoscopic instruments in the region.
 

Australia market will expand at 12.4% CAGR from 2020 to 2026. Rising prevalence of gynecological disorders in the country coupled with growing awareness pertaining to the advantages associated with laparoscopic procedures has driven the market revenue in the country.
 

Companies focusing on strategic acquisitions and new product launches will impact the market size expansion

The key players in the market are Ethicon Inc., Apollo Endosurgery, Boston Scientific, Medtronic Plc (Covidien), Intuitive Surgical, Olympus Corporation, Smith & Nephew Inc., Karl Storz GmbH, Richard Wolf GmbH, CONMED Corporation, Stryker Corporation, Cook Medical Inc., Aesculap, Microline Surgical among others. In order to increase the market share and geographical presence, these companies are constantly focusing on implementing numerous strategies such as partnerships, new product launches and market development strategies.