Coronavirus Modifies Activities in Operating Theaters to Prevent Spread of Infection

Unprecedented challenges are predicted to surround the laparoscopy devices market amidst the COVID-19 (coronavirus) pandemic. High risks of virus diffusion in operating theatres during surgeries due to the utilization of laparoscopy devices poses a challenge for healthcare workers. Several surgeries for benign gynecological diseases are being performed worldwide that demand the utilization of laparoscopy devices. However, the novel coronavirus is modifying activities in operating theatres, as surgeons are increasing efforts to limit the spread of the infection.

Analysts of the Transparency Market Research (TMR) opine that the laparoscopy devices market is anticipated to experience slowdown in the upcoming months, since patients with non-urgent and non-cancer conditions are postponing their treatment to stay protected from COVID-19. However, manufacturers are tapping into opportunities where there is a need for laparoscopy devices in procedures that involve immediate and emergency intervention.

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Low Cost Rigid Video Laparoscopes Acquire Prominence in Cash-strapped Hospitals

The laparoscopy devices market is estimated to progress at a robust CAGR of ~7% during the forecast period. However, the penetration of diagnostic laparoscopies in rural areas of developing countries such as India is relatively slow, owing to high cost of set up. Hence, companies in the laparoscopy devices market are innovating in low cost alternatives such as rigid video laparoscope devices. This is evident since the revenue of Asia Pacific is predicted for exponential growth during the forecast period.

Manufacturers are upgrading the technology of video cameras and LED (Light Emitting Diode) lights in rigid video laparoscope devices to improve patient outcomes. As such, healthcare practitioners expect phenomenal image quality through rigid video laparoscope devices. High prevalence of laparoscopic surgeries in rural areas of India are creating value-grab opportunities for manufacturers who are increasing the availability of cystoscopes.

Startups Pave Way for Innovations with Portable Surgical Robot Systems

The laparoscopy devices market is primarily dominated by tier 1 companies. However, surgery instrument startups are posing a stiff competition to key market players. For instance, Surge-on Medical-a Dutch surgery instrument startup, announced to launch its equity crowdfunding campaign to build its portfolio in arthroscopy, laparoscopy devices, and robotic surgeries. As such, the revenue of robot assisted systems dictate the second-highest value among all products in the laparoscopy devices market, where the product’s revenue is expected for aggressive growth during the assessment period.

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Startups in the market landscape are increasing their R&D muscle to innovate in minimally invasive laparoscopy devices. They are focusing on cable-free steerable mechanisms in order to build their credibility in the global market landscape. Manufacturers are increasing their production capabilities to produce advanced laparoscopy line products and portable surgical robot systems.

Single Incision Surgeries with Robotic Platforms Increasingly Meet Patient Satisfaction

The scope of robot-assisted single site surgeries is broadening as the laparoscopy devices market matures with an expected revenue of US$ 10.5 bn by the end of 2030. Patients are increasingly demanding single incision and minimally invasive surgeries to reduce incidences of post-surgery complications. Minimally invasive laparoscopy devices are helping to perform complex surgeries and improve patient quality of life. High probability of performing complex surgeries through a single incision has helped to restore faith among patients requiring gynecological and other general surgeries.

Single site surgeries are becoming increasingly popular, owing to its advantageous attributes of reduced morbidity and cater to patient satisfaction. As such, robotic platforms are playing an instrumental role in the adoption of minimally invasive surgeries in hospitals and clinics. The feasibility of single incision robotic colectomy (SIRC) has been validated with years of research evidence and multiple case series published in the laparoscopy devices market.

Funding for Small Businesses by Biomedical Imaging Institutes Leads to FDA Approvals

There is a growing demand for slender laparoscopy devices that can be inserted through external layers of the skin to provide high quality imagery of internal organs. Hence, organizations such as the National Institute of Biomedical Imaging and Bioengineering (NIBIB) are taking the initiative to launch small business innovation funding. For instance, medtech company ClearCam Inc., gained FDA (Food and Drug Association) approval for its device, which wipes the lens of laparoscopes and mimics the mechanism of a typical wiper blade.

Conventional laparoscopy devices are challenged with the problem of becoming clouded by the condensation of blood, fat, and other particulate matter. Hence, companies in the laparoscopy devices market are increasing their production capabilities to incorporate wiper blade-like features in devices that clear a fogged up laparoscope lens.

Safe Insertion of Laparoscopy Devices Transform Interventional Radiology Techniques

The laparoscopy devices market is projected for an uptick in Y-o-Y (Year on Year) growth during the assessment period. However, the pace of technological advancements is relatively slow as compared to other medical devices markets. Hence, Dr. Ernesto Molmenti at New York’s nonprofit healthcare provider Northwell Healthcare announced a collaboration with i360medical-a MedTech IP (Intellectual Property) development and commercialization company to reveal their surgical/clinical introducer device that allows surgeons to safely insert instruments into the body of patients. Manufacturers in the laparoscopy devices market are building their credibility credentials as many commercial, clinical, and regulatory experts are investigating the efficacy of cutting-edge laparoscopy devices that are revolutionizing interventional radiology techniques.

Strategic collaborations between companies in the laparoscopy devices market are resulting in better commercialization, design, and developmental advancements in devices. Manufacturers are engaging with clinicians on a weekly basis to deploy design improvements in laparoscopy devices.

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Analysts’ Viewpoint

Immediate and emergency medical interventions create scope for revenue opportunities amidst COVID-19 crisis. The trend of mobile laparoscopy with the help of smartphones is bringing about a significant change in the laparoscopy devices market. As such, manufacturers are building their portfolio in fully customizable laparoscopic procedure kits and trays in order to improve efficiency and productivity in operating theaters.

Robotic platforms are being highly publicized as minimally invasive solutions in gynecology and urological applications. However, conventional laparoscopic instruments are prone to clouding due to condensation of fat, blood, and other particulate matter on the body of patients. Hence, companies should increase their focus in self-cleaning lens in order to improve clinical outcomes.

Laparoscopy Devices Market: Overview

  • According to Transparency Market Research’s latest research report on the global laparoscopy devices market for the historical period (2018–2019) and the forecast period (2020–2030), increase in incidence of target conditions for laparoscopic surgery is anticipated to drive the global laparoscopy devices market in the near future
  • According to the report, the global laparoscopy devices market was valued at US$ 5.3 Bn in 2019. It is projected to expand at a CAGR of ~7% from 2020 to 2030.

Increase in Number of Minimally Invasive Surgical Procedures Performed: A Key Driver in Laparoscopy Devices Market

  • Minimally invasive surgery offers a higher accuracy rate, as compared to that of traditional open surgery. A highly significant benefit of minimally invasive surgery is the size of the incision. Minimally invasive surgery relies on tiny incisions for the insertion of thin tubes, fiber-optic lights, cameras, and other small surgical tools. Minimally invasive surgery procedures cause minimum pain and have less discomfort after the procedure and therefore considered as laparoscopy surgery
  • Surgery with laparoscopy devices has been a highly preferred method of treatment in the last few years among healthcare providers across the world
  • A study conducted at the John Hopkins University School of Medicine in Maryland, U.S., concluded that urban hospitals were performing laparoscopic appendectomies four times more than rural hospitals, and were likely performing 15 times more minimally invasive hysterectomies than rural hospitals
  • According to the American Congress of Obstetricians and Gynecologists (ACOG), the rate of minimally invasive hysterectomy procedures conducted in the U.S. increased from an estimated 14% in 2004 to 53% in 2013
  • Initiation of robot-assisted surgery may be a key factor that drives the number of laparoscopic surgeries performed for different surgeries such as prostatectomy, cancer, hernia repair, and colorectal cancer
  • According to the American Society of Plastic Surgeons, an estimated 20 million surgical procedures were performed across the world in 2014, and 52% of these were minimally invasive surgeries
  • Increase in the number of laparoscopic surgeries performed every year are expected to drive the demand for and subsequent consumption of laparoscopy devices in the global market. This, in turn, is expected to propel the global laparoscopy devices market during the forecast period.
  • Accuracy of minimally invasive procedures improved due to the use of camera, enabling the surgeon to have a better visualization of the internal organs. Awareness among people about the positive effects of adoption of minimally invasive surgery has helped in the propagation of this technique.
  • All these factors are projected to drive the laparoscopy devices market during the forecast period

Rise in Number of Gynecological, Urological, and Cardiac Surgery Procedures to Drive Laparoscopy Devices Market

  • According to the WHO World Health Organization, 234·2 (95% CI 187·2–281·2) million major surgical procedures are undertaken every year worldwide. Surgical services have long been recognized to be an essential expensive component of the public-health system. Surgery is likely to assume an increasing role in public health due of this epidemiological transition.
  • High number of population is suffering from diseases related to gynecological, urological, and cardiology, thus leading to an increase in the number of surgical procedures. This factor is expected to propel the demand for laparoscopy devices during the forecast period.

Laparoscopy Devices Market: Competition Landscape

  • This report profiles major players operating in the global laparoscopy devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
  • The global laparoscopy devices market is moderately fragmented, with the presence of a few large players in the international market and numerous small players in regional markets. Top players hold major share of the global laparoscopy devices market.
  • Prominent players operating in the global laparoscopy devices market include 
    • Ethicon US, LLC (Johnson & Johnson)
    • CONMED Corporation
    • Medtronic
    • Aesculap, Inc. – a 
    • B. Braun company
    • Fujifilm Holding Corporation
    • Smith & Nephew
    • Stryker
    • KARL STORZ
    • Olympus Corporatio
    • Richard Wolf GmbH
  • The report on the global laparoscopy devices market discusses individual strategies, followed by company profiles of manufacturers of laparoscopy devices. The ‘competition landscape’ section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global laparoscopy devices market.

Laparoscopy Devices Market – Scope of the Report

TMR’s report on the global laparoscopy devices market studies the past as well as current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period from 2020 to 2030. The report provides the revenue of the global laparoscopy devices market for the period 2018–2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global laparoscopy devices market during the forecast period.

The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ device literature, annual reports, press releases, and relevant documents to understand the global laparoscopy devices market.

Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various phenomenon in the global laparoscopy devices market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on changing competitive dynamics in the global laparoscopy devices market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global laparoscopy devices market.

The report delves into the competition landscape of the global laparoscopy devices market. Key players operating in the global laparoscopy devices market have been identified, and each one of them has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOTs are some of the attributes of players in the global laparoscopy devices market that have been profiled in this report.

Key Questions Answered in Laparoscopy Devices Market Report

  • What is the scope of growth of devices and its companies in the laparoscopy devices and its application sector?
  • What will be the Y-o-Y growth of the global laparoscopy devices market between 2019 and 2027?
  • What is the influence of changing trends in technologies on the global laparoscopy devices market?
  • Will North America continue to be the most profitable regional market for global primary immunodeficiency therapy providers?
  • Which factors will impede the growth of the global laparoscopy devices market during the forecast period?
  • Which are the leading companies in the global laparoscopy devices market?

Research Methodology

A unique research methodology has been utilized by TMR to conduct a comprehensive research on the growth of the global laparoscopy devices market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary sources referred to by analysts during the global laparoscopy devices market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, device portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to TMR’s study on the global laparoscopy devices markets primary sources.

These primary and secondary sources have provided exclusive information during interviews, which serves as a validation from laparoscopy devices market leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global laparoscopy devices market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global laparoscopy devices market more reliably and accurately.

Laparoscopy Devices Market – Segmentation

Product

Energy Systems

Robot Assisted Systems

Laparoscopes

Hand Access Instruments

Trocars

Closure Devices

Insufflation Devices

Suction/Irrigation Devices

Application

Gynecological Surgery

General Surgery

Urological Surgery

Bariatric Surgery

Colorectal Surgery

Others

End User

Hospitals

Clinics

Others

Region

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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