The lparoscopy market is estimated to be valued at USD 11,547.3 Million in 2021 and is poised to grow at a significant CAGR of 5.8% over 2022-2028. Laparoscopy is used to diagnose and treat endometriosis, ectopic pregnancy, pelvic inflammatory disease (PID), cysts, and fibroids. Laparoscopy devices are widely employed in the diagnosis and treatment of numerous ailments such as prostatectomy, pancreatic cancer, and gastrointestinal issues. The use of these devices in surgical operations ensures minimum bleeding and aids in the maintenance of Hemostasis. The Laparoscopy segment anticipated to grow at significant CAGR over the forecast years owing to rising demand laparoscopy devices are favoured by both surgeons and physicians due to the high level of accuracy they provide in procedures. The global increase in morbid obesity cases is the primary reason driving the laparoscopy market expansion. Furthermore, the increase in bariatric procedures conducted globally to reduce weight boosts market development. According to data published by the American Society for Metabolic & Bariatric Surgery (ASMBS), there were 252,000 bariatric surgeries performed in the United States alone in 2018. Increase in adoption of laparoscopy surgery and advantages of single-incision laparoscopic surgery (SLS) are a few factors driving the industry’s growth over the forecasting period.
Recent Market Developments:
In Sept 2019, Medtronic launched its new robot-assisted surgery system. The technology is Medtronic’s response to a burgeoning market controlled by Intuitive Surgical and its da Vinci SP system.
In Nov 2020, Johnson & Johnson launched new robot-assisted surgery system. The new device will have six arms and will be integrated into the operating table to enable more control and flexibility in operation. Also, the platform is designed with a zero-footprint to allow patient access, maximize operating room space, and optimize efficiency.