Laparoscopic Instruments Market by Product, Recent Market Devlopment

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The overall laparoscopic instruments market is expected to grow from USD 7.61 billion by 2016 to USD 11.68 billion in 2021, at a CAGR of 8.9% from 2017 to 2022. The key factors driving the growth of this market are rising prevalence of colorectal cancer which can be treated laparoscopically, increasing use of laparoscopy for bariatric surgeries, and technological advancements in laparoscopic instruments. The base year considered for the study is 2015, and the forecast has been provided for the period between 2016 and 2021.

Market Dynamics

Drivers

  • Increasing investments in the laparoscopic instruments market
  • Growing number of laparoscopic procedures performed globally owing to increasing preference for minimally invasive surgeries
  • Rising prevalence of colorectal cancer
  • Increasing number of laparoscopic bariatric procedures
  • Technological advancements in the field of laparoscopy
  • Growing healthcare markets in emerging economies
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Major Market Developments

  • In 2016, Ethicon acquired NeuWave Medical, Inc. (U.S.), a medical devices company that manufactures minimally invasive soft tissue microwave ablation systems. The acquisition aims to leverage the technologies of NeuWave Medical to offer solutions for minimally invasive surgeries that can improve patient outcomes.
  • In 2015, Richard Wolf opened a new logistics center having a floor space of 10,000 square meters at its headquarters in Knittlingen.
  • In 2015, Stryker Corporation launched bariatric laparoscopic instruments in the 45-cm version. The new product offering is 12 cm longer than the smaller laparoscope in the same product line, and is well suited for bariatric surgeries. The instrument provides better patient safety and health outcomes
  • In 2014, KARL STORZ Endoscopy (UK) Ltd. opened its newly redesigned Dundee plant. The company invested approximately USD 2.6 million (GBP 1.7 million) in this facility.
  • In 2013, Sony Corporation and Olympus Corporation together established a medical business joint venture named Sony Olympus Medical Solutions, Inc. The joint venture was aimed at aligning Sony’s electronic technologies with Olympus’s manufacturing and R&D expertise in medical care.
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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