Albany, NY, Feb. 16, 2016 (GLOBE NEWSWIRE) -- Transparency Market Research presents a new market study on the global laparoscopy devices market that discusses the market’s progress for the 2013-2019 period. The report, titled “Laparoscopy Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” is available for sale on the company website.The report states that the global laparoscopy devices market was worth US$7.5 bn in 2012. Developing at a CAGR of 7.1% from 2013 to 2019, the market is expected to be worth US$12.3 bn by 2019.
Due to the growing concerns about the prevalence of morbid obesity and a large population with abnormally high body weight, bariatric procedures are becoming a commonality. Laparoscopy devices are used for many of these procedures for successful results. In the coming years, obesity is projected to be even more prevalent and will necessitate correction surgeries such as bariatric surgeries. These surgeries will account for the largest application of laparoscopy devices, says TMR. Faster recovery and reduced hospital stay are the other advantages of laparoscopy devices for bariatric surgeries.
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Generally, the use of laparoscopy devices enables higher precision, which is why these devices are increasingly becoming an integral part of operation units. An increasing number of cholecystectomy procedures that are carried out worldwide is also significantly contributing to the growth of the global market for laparoscopy devices.
However, the growth of this market is restrained due to a few reasons. Laparoscopy devices are associated with side effects, resulting in wariness among patients about treatments that involve such devices. Carbon dioxide emissions and rapid advancement of technology leading to products becoming obsolete in no time are also slowing the adoption of newer devices. With the introduction of innovative-technology-based laparoscopy devices, high-definition three chip systems and high-definition cameras are the latest additions to the laparoscopy devices market. With more developments expected in the coming years, the global laparoscopy devices market will be benefitted.
The global laparoscopy devices market is divided on the basis of application, equipment, and geography. Wound protector laparoscope, internal closure devices, trocars, energy systems, gastric band, irrigation system, insufflation devices, hand-assist devices, and sample retrieval bag are the equipment segments of the market.
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General surgery, colorectal surgeries, gynecological surgeries, bariatric surgery, and urological surgeries are the segments of the market based on application. Of these, general surgery dominates the market; however, bariatric surgery will register the fastest growth during the forecast period closely followed by colorectal surgery. An increasing preference for laparoscopic surgeries in place of open colectomy, which involves a larger incision, for the treatment of colorectal cancer is driving demand for laparoscopy devices for these surgeries.
Major Key Players:
The report mentions key players in the global laparoscopy devices market, namely Ethicon Endo-Surgery, Olympus, Stryker, Smith & Nephew, Karl Storz, Covidien, Intuitive Surgical, Boston Scientific Corporation, Aesculap, and ConMed.
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Global Laparoscopy Devices Market, by Application
- General Surgery
- Bariatric Surgery
- Urological Surgery
- Colorectal Surgery
- Gynecological Surgery
Global Laparoscopy Devices Market, by Equipment
- Insufflation Devices
- Sample Retrieval Bag
- Internal Closure Devices
- Hand-assist Devices
- Irrigation System
- Wound Protector
- Gastric Band
- Energy Systems
Global Laparoscopy Devices Market, by Geography
- North America
- Asia Pacific
- Latin America
- Rest of the World
Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research