Investments by government bodies for laparoscopic hand instruments due to technical advancements and changing lifestyle are key factors contributing to high CAGR of laparoscopic hand instruments market during the forecast period.
Market Size – USD 8.28 Billion in 2018, Market Growth – CAGR of 8.8%, Market Trends– Advancements in Laparoscopic hand instrument market including NBI and Minilaparoscopy
Laparoscopic Hand Instruments Market valued at USD 8.28 billion in 2018 and is expected to reach 16.52 USD Billion by the year 2026, at a CAGR of 8.8%. Laparoscopy is a surgical and a diagnostic procedure, usually, it has only a minimal risk as a small cut is made, in which a thin tube is inserted which has a high-resolution camera, the camera is responsible for sending the images.
In laparoscopy, a small incision is made, which improves in the post-operative period. Here, the laparoscope is being used along with suturing devices, staplers, and ligation devices. In this procedure, surgeons inspect inside of the abdomen and pelvis region without making large incisions in the skin through the abdominal wall through which a laparoscope (viewing tube) is inserted. The Crucial growth factor is that there is a rise in health care spending, also the number of bariatric surgeries like gastric bypass, and adjustable gastric band has increased. Prevalence of obesity and the development of technology has given a boost to the market.
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Devices used in laparoscopic surgeries are expensive, and absence of skilled surgeons are the primary restraint to the market. The rise in the demand for laparoscopic procedures, and effective results in further treatment, has boosted the market.
Further key findings from the report suggest
- New advancements in the instrumentation include sub-5 mm instruments, three-dimensional imaging, narrow-band imaging (NBI), and also articulated instruments. Smaller (mini-laparoscopy and percutaneous) instruments can provide equal outcomes for certain operations with less abdominal wall pain. Three-dimensional imaging 3D may be particularly helpful for learners in the laparoscopic atmosphere. NBI, (narrow-band imaging) may further pick up more endometriosis lesions but the as per clinical view a slight increase in sensitivity seems to be negligible over the existing conventional white light laparoscopy.
- Single-Site Laparoscopic surgery, natural orifice transluminal endoscopic surgery known as (NOTES), has been introduced. These new approaches assure to minimize the potential morbidities and maximize the cosmetic outcome for patients. The progression from laparoscopic approaches to NOTES in the United States includes the limitations prohibiting the widespread adoption of these new techniques.
- Laparoscopic surgery has revolutionized the form of surgery. It provides quality treatment to patients than the traditional “open” surgery. Members of the (UCLA) Department of Urology are collaborating with the UCLA Biomechanical Engineering Department to further advances in novel biological sensors, instruments, and surgical techniques for use in minimally invasive surgery.
- Bariatric surgeries are also done in diabetic individuals. According to the American College of Surgeons and the American Society for Metabolic and Bariatric Surgery, it further specifies that 74% had undergone sleeve gastrectomy in the group without diabetes, and 62% of those with diabetes undergone sleeve gastrectomy.
- A Minilaparoscopy is an alternative option for gynecology because it minimizes the impact of surgery. Minilaparoscopy is also proven to be a well-tolerated alternative for gynecology.
- The rise in the use of robotics in healthcare is significantly increased. In March 2018, HandX device, a single-use, handheld laparoscopic device, was designed in laparoscopic manipulation of the tissues. It also includes grasping, ligation, and suturing.
- Laparoscopic cholecystectomy is a surgery during which the doctor removes your gallbladder. It is mostly done in the case of gall stones and is the most frequently used laparoscopic surgery.
- Recent advances include flexible snake-like structured devices that provide multiple degrees of freedom (DOF). They are used in minimally invasive surgery, for optimizing the ligation of endless organs various types of flexible structures and selected a multi-segmented snake-like structure which provides the flexion and stability during surgery.
- The Asia Pacific has given a significant boost to the market as there is an increase in the patient population, also a rise in various disorders like obesity.
- Key players of the laparoscopic hand instruments market are Karl Storz GmbH & Co. KG (Germany), Olympus Corporation (Japan), Medtronic plc (Ireland), B. Braun Aesculap (Germany), Stryker Corporation (U.S.), Richard Wolf GmbH (Germany), Ethicon, Inc. (U.S.), Smith & Nephew plc (U.K.), Cook Medical Inc. (U.S.), and ConMed Corporation (U.S.) Medtronic plc includes a wide range of products for Laparoscopy like Solid laparoscopic electrodes, laparoscopic handset, etc. it also contains products for cardiovascular use, diabetes, ENT, neurological, renal repertory care.
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For the purpose of this report, Reports and Data has segmented the Laparoscopic Hand Instruments market on the basis of product type, application, end use and region:
Product Outlook (Revenue in Million USD; 2016–2026)
- Video Laparoscopes
- Fiber Laparoscopes
- Energy Devices
- Suction/Irrigation Systems
- Access Devices
- Closure Devices
- Hand Instruments
- Robot-Assisted Surgery Systems
Type Outlook (Revenue in Million USD; 2016–2026)
- Rigid laparoscopes
- Flexible laparoscopes
Application Outlook (Revenue in Million USD; 2016–2026)
- Bariatric Surgery
- General Surgery
- Gynecological Surgery
- Urological Surgery
- Colorectal Surgery
- Pediatric Surgery
End use Outlook (Revenue in Million USD; 2016–2026)
- Ambulatory Centers
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Regional Outlook (Revenue in Million USD; 2016–2026)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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