Portland, OR, June 01, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global generated $12.06 billion in 2019, and is estimated to reach $18.90 billion by 2027, registering a CAGR of 5.8% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, porter’s five forces analysis, competitive landscape, pricing analysis, major segments, and competitive scenario.
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Rise in preference for minimally invasive procedures, surge in number of bariatric procedures using laparoscopes, technological advancement in laparoscopy devices, and increase in incidences of colorectal cancer drive the growth of the global laparoscopy devices market. However, shortage of skilled professionals, high cost of laparoscopic devices and procedures, and post-operative risks associated with laparoscopy surgeries hinder the market growth. On the other hand, untapped potential in emerging economies and rise in adoption of robot-assisted laparoscopy devices create new opportunities in the coming years.
Covid-19 scenario:
- Some of the laparoscopic and surgical services have been postponed during the coronavirus pandemic. The services will be made available for patients who are suffering from life threatening conditions.
- The rules and regulations have been tightened by the government regarding working of medical staff. The staff is advised to offer training through online resources.
- Manufacturing of devices has been stopped to avoid the social gathering during the lockdown.
The report offers a detailed segmentation of the global laparoscopy devices market based on product, application, end user, and region.
Based on product, the energy devices segment contributed to the largest share in 2019, accounting for one-fourth of the total share, and is estimated to maintain its dominant position during the forecast period. However, the robot-assisted surgical systems segment is expected to register the highest CAGR of 6.8% from 2020 to 2027.
Based on end user, the hospitals segment accounted for the largest share in 2019, holding nearly half of the total share, and is expected to maintain the largest share throughout the forecast period. However, the clinics segment is estimated to portray the highest CAGR of 6.0% during the forecast period.
Based on region, North America contributed the highest share, accounting for nearly two-fifths of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 6.8% from 2020 to 2027.
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Leading market players analyzed in the research include B. Braun Melsungen AG, Boston Scientific Corporation, ConMed Corporation, Johnson & Johnson, Karl Storz SE & CO. KG, Medtronic plc (Covidien), Olympus Corporation, Richard Wolf GmbH, Smith & Nephew plc., and Stryker Corporation.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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