Global Laparoscopy and Endoscopy Devices Market Size USD 38.10 Billion By 2031 | CAGR of 4.94%

Introduction

Laparoscopy devices are the instruments used to examine the abdominal organs. Common laparoscopy devices include insufflators, closure devices, irrigation systems, obstetrical forceps, hand instruments, access devices, and dissectors. A thin, long tube with high-intensity light and a high-resolution camera transmits images to a monitor as it travels through the abdomen. Laparoscopic instruments are frequently employed in diagnosing and treating pelvic inflammatory disease (PID), ectopic pregnancy endometriosis, pancreatic cancer, fibroids, gastrointestinal disorders, prostatectomy, and cysts.

Market Dynamics

Increasing Prevalence of Chronic Diseases Drives the Global Market

The increase in the prevalence of chronic diseases, one of the primary causes of death, is anticipated to play a crucial role in adopting advanced surgical systems. As per the data published by the World Health Organization in 2018, noncommunicable or chronic diseases cause the fatalities of 41 million people annually or 71% of all deaths worldwide.

Moreover, chronic illnesses are the leading cause of rising healthcare costs. For example, the United States spends USD 3 trillion annually to treat disorders, with 86% of that amount attributable to chronic diseases. The escalating number of patients with chronic conditions is a significant development driver for the global market because it is a primary factor in the rise of healthcare costs.

Technological Advancements in Minimally Invasive Surgeries Creates Tremendous Opportunities

The evolution of minimally invasive surgical procedures has been substantially aided by the advancement of technology in the medical field. These developments have allowed surgeons to perform operations with the least invasiveness and the highest degree of precision. On the other hand, minimally invasive interventions use computer-assisted image guidance to allow surgeons to visualize the spine without making large incisions. There have also been significant advances in neurosurgery, making it possible to conduct surgery on pituitary tumors by inserting endoscopic devices through the patient's nostrils.

Minimally invasive surgical procedures rely on high-definition camera systems such as 3D and 4K to provide the physician with high-resolution images of the difficult-to-reach internal organs. Virtual reality technologies that aid in pre-operative guidance and planning improve surgical procedures' accuracy and safety. Philips created the first augmented reality-based surgical navigation technology in 2017 to assist spine surgeons with image-guided procedures. The miniaturization of electronics drives the development of tiny, automated instruments for minimally invasive surgery. Such technological developments are anticipated to create opportunities for market expansion.

Regional Analysis

North America is the most significant global laparoscopy and endoscopy devices market shareholder and is estimated to grow at a CAGR of 3.90% over the forecast period. The market for laparoscopy and endoscopy devices in North America is anticipated to be driven by increased investments made by private and public institutions in the region to implement advanced systems in hospitals. The first dual-channel endoscope, the El-740D/S, will be introduced in 2021, according to Fujifilm Healthcare Americas Corporation (a subsidiary of Fujifilm Holdings Corporation).

In addition, the rising incidence of chronic disorders has contributed to the growth of the market for laparoscopy and endoscopy devices. According to the Centers for Disease Control and Prevention (CDC), six out of ten adults suffer from chronic disease, and four out of ten suffer from two chronic conditions. Since 2012, when only 25.5% of the population suffered from multiple chronic conditions, the prevalence has significantly increased. The surging prevalence of chronic conditions is anticipated to increase the volume of endoscopic procedures and drive market expansion.

Key Highlights

• The global laparoscopy and endoscopy devices market was valued at USD 24.69 billion in 2022. It is estimated to reach USD 38.10 billion by 2031, growing at a CAGR of 4.94% during the forecast period (2023–2031).
• Based on therapeutic areas, the global laparoscopy and endoscopy devices market is segmented into general surgery, cardiac surgery, gynecology surgery, orthopedic surgery, urology surgery, neurology surgery, and others. The general surgery segment is the largest contributor to the market and is projected to exhibit a CAGR of 4.19% over the forecast period.
• Based on end-users, the global laparoscopy and endoscopy devices market is bifurcated into hospitals, ambulatory surgery centers, and others. The hospitals segment dominates the global market share and is predicted to exhibit a CAGR of 4.17% during the forecast period.
• Based on product, the global laparoscopy and endoscopy devices market is segmented into endoscopes and endoscopic imaging systems, video and visualization systems, instruments and accessories, capsule endoscopy devices, and others. The instruments and accessories segment is the highest contributor to the market and is projected to grow at a CAGR of 5.08% over the forecast period.
• North America is the most significant global laparoscopy and endoscopy devices market shareholder and is estimated to grow at a CAGR of 3.90% over the forecast period.

Competitive Players

Competitive Players

The key players in the global laparoscopy and endoscopy devices market are Olympus Corporation, B.Braun, Boston Scientific Corporation, Stryker Corporation, Karl Storz SE & Co. KG, and Hoya Corporation (Pentax Medical), FUJIFILM Holdings Corp, Johnson and Johnson, Medtronic plc, and others.

Recent Developments

Market News

• In May 2023, Olympus, a global leader in the design and delivery of innovative solutions for medical and surgical procedures, announced that the FDA had granted authorization to its new EVIS X1 endoscopy system and two compatible gastrointestinal endoscopes: gastrointestinal videoscope GIF-1100 and the CF-HQ1100DL/I colonovideoscope.
• In July 2023, Genesis MedTech obtained approval from China's National Medical Products Administration to market the ArtiSential laparoscopic surgical device in China.

Segmentation

Global Laparoscopy and Endoscopy Devices Market: Segmentation

By Therapeutic Area

• General Surgery
• Cardiac Surgery
• Gynecology Surgery
• Orthopedic Surgery
• Urology Surgery
• Neurological Surgery
• Others

By End-User

• Hospitals
• Ambulatory Surgery Centres (ASCs)
• Others

By Product

• Endoscopes and Endoscopic Imaging Systems
• Video and Visualization Systems
• Instruments and Accessories
• Capsule Endoscopy Devices
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa