The rising occurrence of chronic diseases is one of the significant factors influencing Laparoscopy and Endoscopy Devices market growth.
The laparoscopy and endoscopy devices market is expected to be valued at USD 28.30 billion in 2027 from USD 20.13 billion in 2019, registering a CAGR of 4.3% through the forecast period, according to a recent report by Emergen Research. The high demand for laparoscopy and endoscopy devices due to the growing prevalence of chronic diseases such as cancer will drive the market for laparoscopy and endoscopy products. Cancer has a significant impact on social and economic development in the U.S. and worldwide and is a major contributor to the world’s healthcare cost burden. 1,806,590 new cases of cancer are predicted to be diagnosed in the U.S. in 2020, and 606,520 deaths will occur due to the disease. Gastrointestinal (GI) cancer is the second leading cause of cancer-related and GI endoscopic mortality. It is the most appropriate way of diagnosing the disease and thereby boosting the consumer demand for laparoscopy endoscopy products.
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Key Highlights From Report:
- In October 2019, Medtronic PLC announced the launch of the intelligent endoscopy module GI GeniusTM, which uses AI to detect colorectal polyps and provide doctors with a powerful tool to battle colorectal cancer.
- Gynecological endoscopy is likely to experience a substantial growth rate in the forecast period and finds application, including some infertility complications, endometrial polyps, and minor vaginal haemorrhages, among others, in the diagnosis of common female disorders and pathologies.
- Growing demand for keyhole surgery is a major factor driving the growth of the market for laparoscopy devices due to the advantages of keyhole surgery, including shorter hospital stay, faster recovery time, decreased post-surgery pain & bleeding, and less scarring.
- Due to significant economic growth, the advancement of healthcare infrastructure, the growing incidence of cancer, and the increasing popularity of advanced diagnostic procedures, the laparoscopy and endoscopy devices market in the Asia Pacific region is projected to expand at the fastest pace in the forecast period.
- Key participants include Stryker Corporation, Fujifilm, Smith & Nephew PLC, Cook Medical, Boston Scientific, B. Braun Melsungen, Olympus, Medtronic, Karl Storz, and Hoya Corporation, among others.
Emergen Research has segmented the global laparoscopy and endoscopy devices market on the basis of device type, application, end-user, and region:
- Device Type Outlook (Revenue, USD Billion; 2017-2027)
- Laparoscopy Device
- Endoscopy Device
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Gastrointestinal Surgery
- Cardiac Surgery
- Gynecology Surgery
- Orthopedic Surgery
- Urologic Surgery
- Neurological Surgery
- End-User Outlook (Revenue, USD Billion; 2017-2027)
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/laparoscopy-and-endoscopy-devices-market