Global Laparoscopic Devices Market to Reach US$ 8.0 Billion by 2017, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) November 16, 2011
Follow us on LinkedIn – Owing to several benefits offered by laparoscopic procedures that include minimal incisions, lesser complications, lesser post-operative trauma, quicker recovery, lesser scarring, reduced hospital stay, and lower infection rates, laparoscopic procedures are gaining popularity among patients. Additionally, cost savings offered by laparoscopy for patients, hospitals and insurance companies also play a vital role in propelling growth the world over. Furthermore, laparoscopic procedures are making a significant contribution in diagnostic and therapeutic procedures in various interventional medical disciplines. Besides their current indications, laparoscopic procedures are constantly being explored as an adjunct in other therapies for treating specific malignancies, including aortic and pelvic lymph node dissection, early cervical cancer and ovarian cancer. Introduction of various tools such as improved imaging systems, multiple robotic devices, temperature-controlled devices, and surgical instruments that offer enhanced articulation and rotation are expected to expand the use of laparoscopic techniques in future.
Global Laparoscopic Devices market witnessed contraction in sales in recent years, as the frequency of elective surgeries including functional endoscopic sinus procedures and laparoscopic bariatric procedures declined owing to recession. Market growth slumped due to consequent cuts in capital equipment expenditure and the same was clearly mirrored in advanced hardware and video equipment markets. However, recovering from the recessionary effects, the market is projected to be driven by higher requirement for functional efficiency, enhanced utilization of hand-assisted devices that reduce injuries and increasing volume of laparoscopic obesity and weight loss procedures, particularly gastric banding. Growth in the market is also backed by increasing acceptance of latest equipment including an advancing array of devices for therapeutic bronchoscopy and single port laparoscopy for enhanced GI lesion detection.
As stated by the new market research report on Laparoscopic Devices, the US continues to remain the single largest regional market. Growth in the Asia-Pacific countries, including India and China, is expected to increase further driven by rising patient population, growing preference for minimally invasive procedures, and increased establishment of private-run hospitals equipped with state-of-the-art facilities. Segment wise, Closure devices constitute the largest product segment. Fastest growth is projected to emerge from Gastric Band segment that is forecast to grow at a double-digit CAGR of about 14%. Increasing cases of obesity worldwide is driving volume of laparoscopic adjustable gastric banding (LAGB) procedure. The LAGB procedure significantly reduces intake of food and subsequent fat absorption, with lesser critical complications when compared to the other popular procedures including gastric bypass surgery.
The laparoscopy/endoscopy market on the global front is consolidated. A small number of companies lead the global market, while the remaining marketplace constitutes research organizations, startup firms and small ventures. Major players profiled in the report include Allergan, Inc., Aesculap AG, Boston Scientific Corp., Cardinal Health, Inc., Covidien Ltd., Ethicon Endo-Surgery, Inc. Karl Storz GmbH & Co. KG, Microline Surgical, Olympus Medical Systems Corp., Smith & Nephew, Inc., and STRYKER Corp.
The research report titled “Laparoscopic Devices: A Global Strategic Business Report” announced by Global Industry Analysts, Inc. provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections (US$ Million) for product segments such as Laparoscopes; Trocars; Insufflation and Suction/ Irrigation Devices; Closure Devices; Hand Instruments; Direct Energy Devices; Gastric Band; Hand-Assist Devices; and Other Laparoscopic Devices, across geographic markets such as the US, Japan, Europe and Rest of World.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Laparoscopic_Devices_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.
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