Laparoscopic Instruments Market Soaring at 8.9% CAGR to Register $11.68Bn by 2021
Aug 17, 2016
The global laparoscopic instruments market is expected to reach USD 11.68 billion by 2021 from USD 7.61 billion in 2016, growing at a CAGR of 8.9% driven by growing patient and physician preferences for laparoscopic procedures and rise in the geriatric population.
Pune , India - August 17, 2016 /MarketersMedia/ —
Over the years, factors such as growing patient and physician preferences for laparoscopic procedures, rise in the geriatric population, rise in prevalence of colorectal cancer and obesity which can be treated laparoscopically, and technological advances in the field of laparoscopic instruments are expected to drive the global market. In addition, growth of emerging healthcare markets and the increasing number of free-trade agreements have provided growth opportunities to the market. However, the dearth of trained physicians and growth of robotic minimally invasive surgeries as an alternative to laparoscopic procedures are expected to hinder market growth to a certain extent.
Complete report on membranes market spread across 191 pages, profiling 10 companies and supported with 124 tables and 37 figures is now available at http://www.rnrmarketresearch.com/laparoscopic-instruments-market-by-product-laparoscope-insufflator-energy-device-application-bariatric-surgery-colorectal-surgery-general-surgery-end-user-hospitals-ambulatory-surgical-centers-analysi-st-to-2021-market-report.html .
In 2016, the energy devices segment is expected to account for the largest share of the laparoscopic instruments market, by product, due to the technological advancements in these products. The gynecological surgery instruments segment is expected to account for the largest share of the laparoscopic instruments market, by application, owing to the wide application of laparoscopy in obstetrics and gynecology for diagnosis and treatment. Hospitals are expected to account for the largest share of the market, by end user, as hospitals increasingly prefer laparoscopy to open surgeries as it provides advantages such as lesser costs, decreased average length of stay (ALOS) of patients, and increased patient satisfaction.
In 2016, North America is expected to account for the largest share of the global laparoscopic instruments market, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). In the coming years, the laparoscopic market is expected to witness the highest growth rate in the Asia-Pacific region. Growth in this region can be attributed to the favorable environment for growth of the market in Japan, Japan’s Revitalization Strategy, penetration of key players into China’s laparoscopic instruments market, increasing infrastructure to support laparoscopic procedures in India, and growth of medical tourism and the number of hospitals in Asian countries.
The major players in the laparoscopic instruments market include Karl Storz GmbH & Co.KG (Germany), Olympus Corporation (Japan), Medtronic plc (Ireland), B. Braun Aesculap (Germany), Stryker Corporation (U.S.), Richard Wolf GMBH (Germany), Ethicon, Inc. (U.S.), Smith & Nephew PLC (U.K.), Cook Medical Incorporated (U.S.), and ConMed Corporation (U.S.). Request a discount on Laparoscopic Instruments Market by Product (Laparoscope, Insufflator, Energy Device), Application (Bariatric Surgery, Colorectal Surgery, General Surgery), End User (Hospitals, Ambulatory Surgical Centers) - Analysis & Global Forecast to 2021 research report at http://www.rnrmarketresearch.com/contacts/discount?rname=665020 .
The global laparoscopic instruments market witnessed various new product offerings offered by big and small firms. New product launches; expansions; agreements, partnerships, joint ventures, alliances, and collaborations; acquisitions; and other strategies (marketing & promotion and business restructure) were the key developments undertaken by the companies to increase their market shares and to establish a strong foothold in the global market.
On a related note, Minimally Invasive Surgical Instruments Global Forecast to 2021 says, the market is projected to reach USD 18.14 billion by 2021 from USD 11.16 billion in 2016, at a CAGR of 10.2%. North America accounted for the largest share in the global minimally invasive surgical instruments in 2015. The geographic segments included in this report are North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Companies like Medtronic plc, Ethicon, Inc., Aesculap, Inc., Stryker Corporation and Smith & Nephew, ConMed Corporation, Abbott Laboratories, Applied Biomedical Resources Corporation, Microline Surgical and Zimmer Biomet have been profiled in this 196 pages research report available at http://www.rnrmarketresearch.com/minimally-invasive-surgical-instruments-imaging-visualization-systems-and-medical-robotics-market-2011-2016-market-report.html .
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