Laparoscopic Devices Market Is Witnessing Roust Growth Due To Increasing Adoption of Minimally Invasive Surgeries

Laparoscopy, or diagnostic laparoscopy, is a minimally-invasive surgical diagnostic procedure used to examine the organs inside the abdomen, with the help of laparoscopic devices, such as a laparoscope, closure devices, suction or irrigation device, insufflation devices, robot assisted system, trocars/access device, energy products, and hand access instrument. Procedures such as organ removal, bowel resection, gastric bypass, and hernia repairs are routinely carried out with the help of laparoscopic devices. It is mainly preferred for carrying out surgeries related to the bile duct, colon, liver, and pancreas. The, growth of the laparoscopic devices market can largely be attributed to factors such as the increasing prevalence of colorectal cancer and rising adoption of minimally invasive surgeries, worldwide.

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According to the National Cancer Institute, in 2018, around 1,365,135 people were living with colorectal cancer in the United States. Moreover, according to the American Society of Clinical Oncology, in 2021, around 149,500 American adults will be diagnosed with colorectal cancer. These numbers include 104,270 new cases of colon cancer (51,680 women and 52,590 men) and 45,230 new cases of rectal cancer (18,300 women and 26,930 men). Laparoscopy is also a minimally invasive procedure that require small incisions. In laparoscopy, surgeons make a small incision of 0.5-1 cm, which allows surgeons to operate with more safety and efficacy compared to traditional open surgery, which involves pain and risks to the patient.

Minimally invasive surgery refers to any surgical procedure that is performed through small incisions rather than a large opening. Since the early 1990s, this technique has largely replaced the open technique for cholecystectomies. Thus, the increasing adoption of minimally invasive procedure is driving the laparoscopic devices market growth. Around 15 million laparoscopic procedures are performed every year, worldwide. Since the advent of laparoscopy in the 1990s, the technique is used to perform 1.2 million cholecystectomies. Minimally invasive surgeries are linked to improved patient outcomes and accelerating recovery times. Therefore, there is an increasing demand for minimally invasive surgeries, such has laparoscopic surgeries.

Furthermore, the growth of the laparoscopic devices market can be attributed to the increasing prevalence of obesity, around the world. Laparoscopic surgery for obesity is for people who are severely overweight. Bariatric surgery is done to help lose excess weight and reduce the risk of potentially life-threatening weight-related health problems. One of the newer choices for bariatric surgery is called laparoscopic sleeve gastrectomy (LSG). Thus, with the increasing prevalence of obesity, the demand for laparoscopy is also increasing, and thereby increasing the demand for laparoscopic devices. However, the high cost of laparoscopic surgery is one of the major factor restarting the laparoscopic devices market growth.

The global laparoscopic devices market is estimated to account for US$ 10,150.2 Mn in terms of value in 2019 and is expected to account for US$ 16,854.3 Mn by the end of 2027.

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Major Key Players Are: Olympus Corporation, B. Braun Melsungen AG, Intuitive Surgical Inc., Medtronic plc., Stryker Corporation, Smith & Nephew Plc., CareFusion Corporation, Ethicon US, LLC, KARL STORZ GmbH & Co. KG, Richard Wolf GmbH, Endocontrol SA, Gordian Surgical Ltd., 270Surgical Ltd., and Tekno-Medical Optik Surgery GmbH

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