Laparoscopic Devices Market Worth $10.8 Billion By 2028

The global laparoscopic devices market size was valued at USD 6.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.7% from 2021 to 2028.

The global Laparoscopic Devices Market size is anticipated to reach USD 10.8 billion by 2028, expanding at a CAGR of 6.7%, according to a new report by Grand View Research, Inc. Increasing number of bariatric surgeries being performed and adoption of minimally invasive procedures are anticipated to boost the market growth.

According to the American Society for Metabolic and Bariatric Surgery (ASMBS), bariatric surgery is performed when a patient is suffering from obesity and they are not able to lose weight. Thus, growing cases of obesity are contributing to market growth. Increasing preference by surgeons for laparoscopic surgery owing to the benefits, such as small incisions, less healing time, and short hospital stay, is also driving the market.

Technological advancements are further expected to propel market growth. For instance, Medtronic’s LigaSure device is designed to deliver a specific combination of energy and pressure to create consistent seal within its applications. It provides unique combination of energy and pressure to create vessel fusion. Stryker laparoscopes had a combination of high-quality sapphires and rod lens technology used for superior transformation and excellent recognition to maximize image quality during surgical procedures.

Related Press Release@ Laparoscopic Devices Market Report

Laparoscopic Devices Market Report Highlights

• Energy systems led the market in 2018 due to the favorable reimbursement policies and new product launches, such as Olympus Corporation launched THUNDERBEAT, which is safe and versatile
• Bariatric surgery is projected to be the fastest-growing application segment owing to increasing cases of obesity. Moreover, these surgeries offer painless weight reduction and require shorter hospital stay
• North America was the dominant regional market in 2018 owing to higher adoption of minimally invasive surgeries and increased incidence of gallstones