The global laparoscopic instruments market is projected to reach USD 11.68 billion by 2021 from USD 7.61 billion in 2016, at a CAGR of 8.9%. The demand for laparoscopic instruments is on the rise owing to the increasing physician and patient preference for laparoscopic procedures. Laparoscopic procedures are less invasive and save costs for physicians and patients in terms of pre- and post-operation care and length of stay in hospitals.
Laparoscopic instruments are used during laparoscopy, a type of minimally invasive surgical procedure used for diagnostic and treatment purposes. The procedure allows surgeons to access the inside of the abdomen and pelvis region, without making large incisions in the skin. The procedure involves creation of small incisions in the abdominal wall through which a laparoscope (viewing tube) is inserted, which allows the doctor to examine the abdominal and pelvic organs on a video monitor connected to the tube.
Geographic Analysis :
Geographically, the North American market accounted for the largest share of the global laparoscopic instruments market in 2016. The large share of North America can be attributed to the rising number of laparoscopic procedures compared to traditional open surgeries performed in North America and the technological advancements in laparoscopic instruments introduced by key market players in this region.
Market Key Players:
The prominent players in the global 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.), ConMed Corporation (U.S.), and Boston Scientific Corporation (U.S.).
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