Laparoscopic Instruments Market: Drivers, Restraints, Opportunities, & Challenges

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

Restraints

• Reduced Medicare payments to healthcare providers in the U.S.
• Increasing preference for robotic surgeries as an alternative to laparoscopic procedures
• Dearth of trained professionals in the field of laparoscopy

Opportunities

• Growing demand for data-integrated imaging systems
• Emerging markets to offer high growth opportunities

Challenges

• Enhancements in equipment capabilities in laparoscopic instruments
• Increasing number of free-trade agreements

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Increasing investments in the laparoscopic instruments market drive the global laparoscopic instruments market
Investments by government bodies and private investors in the medical equipment market, including laparoscopic instruments, are witnessed in the form of grants for innovation in medical devices, establishment of new hospitals, research studies, and training and purchase of new medical equipment. The growing demand for laparoscopic procedures coupled with the effective clinical outcomes offered by laparoscopic procedures has spurred investments in laparoscopic instruments market.