LAPAROSCOPIC DEVICES MARKET ANALYSIS

Laparoscopic devices are equipped with small two dimensional camera with a source of light in it. Laparoscopy is a minimally-invasive surgical technique that requires far smaller incisions than regular surgery which leads to less pain, fast recovery time and less blood loss. The reprocessing of laparoscopic devices needs specialized training and equipment. The camera attached to laparoscopic devices enables surgeons to operate special laparoscopic devices to the target area and carry out the surgery. This technique is mainly preferred for carrying out surgeries related to the pancreas, liver, colon and bile duct. Demand for laparoscopic devices has increased significantly, due to advancement in technology in energy devices, laparoscopes, and robot assisted systems.

The global laparoscopic devices market is estimated to be valued at US$ 11,974.3 million in 2022 and is expected to exhibit a CAGR of 6.1% during the forecast period (2022-2030).

Figure 1. Global Laparoscopic Devices Market Share (%), by Product Type, 2022

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Global Laparoscopic Devices Market – Drivers

Increasing product launches by key market players for laparoscopic devices is expected to drive the global laparoscopic devices market growth over the forecast period.

For instance, in September 2022, Olympus Corporation, a manufacturer of optics and reprography products, announced that it had launched THUNDERBEAT Energy Device for open surgery. THUNDERBEAT Open Fine Jaw Type X laparoscopic device is designed to support safe procedures with a new thermal shield. In laparoscopic and open surgery, it provides ultrasonic and bipolar energy for tissue management which includes hemostatic cutting and dissection. The need for multiple instruments is eliminated due to THUNDERBEAT hybrid devices. It also decreases the surgery time and contributes to more efficiency.

Figure 2. Global Laparoscopic Devices Market Value (US$ Million), by Region, 2022

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The adoption of inorganic strategies such as product launches is expected to drive the global laparoscopic market during the forecast period.

The key market players are focused on adopting inorganic strategies such as product launches in order to increase their product portfolio and strengthen their position in the market. For instance, in June 2021, Ethicon, Inc., a subsidiary of Johnson & Johnson, announced that it had launched a new advanced bipolar energy device Enseal X1 Curved jaw tissue sealer that provides strong sealing and has more efficiency. ENSEAL X1 Curved jaw tissue sealer is the new advanced laparoscopic bipolar device which is suggested for gynecological, colorectal, thoracic procedures, and bariatric surgery.

Global Laparoscopic Devices Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 can affect the economy in three main ways: by directly affecting the production and demand for drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with regard to the transportation of drugs from one place to another.

The COVID-19 pandemic also had a negative impact on the global laparoscopic devices market, due to delayed and cancelled surgeries along with safety and ethical issues.

For instance, in September 2020, according to the data published by the National Center for Biotechnology Information, COVID-19 disrupted laparoscopic surgeries in suspects and infected patients. The laparoscopic smoke composition is harmful and the exposure of this smoke in the operating rooms lead to infection. Laparoscopic procedures have a theoretical risk of generating aerosols particularly during maintenance and evacuation of a pneumoperitoneum, CO2 leakage or changing instruments and while using energy devices due to smoke generation.

Global Laparoscopic Devices Market: Key Developments

In July 2021, Palliare, a medical device company, announced that they had received 510(k) clearance for END-200 tubeset from the U.S. Food and Drug Administration. END-200 tubeset can extend the capabilities of EVA15 insufflation technology. EVA15 is a smoke evacuation and insufflation system that provides hands-free control and deliver constant pressure during therapeutic endoscopic procedures which is used in endoscopic, laparoscopic and endoluminal surgery.

Global Laparoscopic Devices Market: Restraint

The major factors that hinder the global laparoscopic devices market growth include the increasing number of product recalls by regulatory authorities such as the Government of Canada. For instance, in April 2022, the Government of Canada recalled the universal plus laparoscopic electrode a class II device, manufactured by CONMED, a medical technology company. The reason behind the product recall was the tip of the universal plus laparoscopic electrode could detach during use.

Key Players

Major players operating in the global laparoscopic devices market include Olympus Corporation, B. Braun Melsungen AG, Intuitive Surgical Inc., Medtronic plc., Stryker Corporation, Smith & Nephew Plc., CareFusion Corporation, Johnson & Johnson (Ethicon), KARL STORZ GmbH & Co. KG, Richard Wolf GmbH, Endocontrol SA, Gordian Surgical Ltd., 270Surgical, and Tekno-Medical Optik Surgery GmbH.