Laparoscopic devices market to grow by USD 4.39B from 2022-27

The laparoscopic devices market size is expected to grow by USD 4.39 billion from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 8.11% during the forecast period, according to Technavio Research. The market is segmented by product (Instrument, accessories, and laparoscopes), end-user (Hospitals, clinics, and ambulatory surgical centers), and Geography (North America, Europe, Asia, and Rest of World (ROW)). North America will contribute 36% to the growth of the global market during the forecast period. The regional market growth can be attributed to factors such as the high prevalence of liver cancer, obesity, substantial healthcare expenditure, and the swift adoption of advanced technologies. Data from a 2019 investor presentation by Boston Scientific revealed that around 850,000 individuals in the US are diagnosed with liver cancer annually. This indicates a significant patient pool and opportunities for market expansion. Similarly, allocated substantial resources to R&D, with an expenditure of approximately USD 1,143 million in 2020. Hence, such factors fuel the growth of the laparoscopic devices market in North America during the forecast period.

Company profile:
avateramedical GmbH, B.Braun SE, Becton Dickinson and Co., CMR Surgical Ltd., Conmed Corp., Cook Group Inc., FlexDex Inc., HOYA Corp., Intuitive Surgical Inc., Johnson and Johnson, KARL STORZ SE and Co. KG, Medtronic Plc, Olympus Corp., Peters Surgical, Richard Wolf GmbH, Smith and Nephew plc, Stryker Corp., Teleflex Inc., The Cooper Companies Inc., Titan Medical Inc.

The growing geriatric population drives the laparoscopic devices market growth. The global market is propelled by the active engagement of key players like Medtronic, Olympus, Boston Scientific, Johnson and Johnson, Stryker, and B. Braun Melsungen in emerging economies. Such players strategically increase their investments in research and development while expanding their presence in these regions. Countries such as China, Indonesia, India, Brazil, and Mexico are poised for above-average growth, as highlighted by the company, which prompted B. Braun Melsungen to invest significantly in research and development activities, with the aim of capitalizing on growth opportunities in these emerging economies. Hence, such factors fuel the growth of the laparoscopic devices market during the forecast period. Technavio