The global laparoscopic instrument market is anticipated to grow at a considerable CAGR of 7.8% during the forecast period (2024-2031). The market growth is mainly attributed to the growing rise in the adoption of minimally invasive procedures across the globe. Minimally invasive techniques are evolving rapidly to perform more precise, less disruptive procedures. The benefits of minimally invasive surgery include minimal incisions, reduced blood loss, and increased precision. Several hospitals are focusing on these kinds of surgery to deliver better patient care. Minimally invasive surgical techniques can be safer and require less recovery time. Owing to the reduced trauma to the soft tissues and muscles than open procedures, the potential advantages of the minimally invasive surgery include minimizing the risk of infection and post-operative pain, reduced blood loss from surgery, reduced risk of muscle damage, and faster recovery from surgery, which in turn, reduced rehabilitation duration.
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As a result, the manufacturers of medical devices have shifted their focus towards the development of devices that are used to facilitate these procedures. They are working to advance the area through new technology and advanced implant materials that can contribute to the make the procedure more precise and patient-specific. For instance, in August 2018, Stryker Corp. announced the acquisition of K2M Group Holdings Inc. for approximately $1.4 billion. This acquisition had strengthened and expanded its offerings in the core spinal market, including an appealing minimally invasive spine portfolio, as well as expand the company’s global reach and additive manufacturing capabilities. Besides, in March 2019, Intuitive, a global technological leader in minimally invasive treatment and the pioneer of robotic-assisted surgery has announced that the US FDA has approved the da Vinci SP surgical system for use in specific transoral otolaryngology operations in adults. The single-port technique was approved by the FDA for lateral oropharyngectomy surgeries and tongue base resection.
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Market Coverage
- Segment Covered-
o By Type
o By Application
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- B. Braun Melsungen AG, Becton, Dickinson and Co., Medtronic plc, Smith & Nephew plc, Stryker Corp, Olympus Corp., Johnson and Johnson Services, Inc., and Applied Medical Resources Corp., among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Laparoscopic Instrument Market Report Segment
By Product Type
- Laparoscope
- Insufflator
- Energy Devices
- Handheld Instruments
- Suction/Irrigation Devices
- Laparoscopic Accessories
- Others Product
By Application
- General Surgery
- Bariatric Surgery
- Colorectal Surgery
- Gynecological Surgery
- Neurological Surgery
- Urological Surgery
- Others
By End-User
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Diagnostic Centers
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