Laparoscopy is a medical procedure which involves insertion of laparoscope in abdominal cavity with the help of a small incision. It enables visualization of abdominal contents over the screen. This procedure is widely accepted by the medical professional owing to the ease of operation. The increase in demand for the laparoscopic surgeries is one of the major factors propelling the global laparoscopy devices market. The global laparoscopy devices market comprises of equipment such as laparoscope, irrigation system, insufflation devices, trocars, sample retrieval bag, wound protector, internal closure devices, gastric band, hand-assist devices, and energy systems. These surgeries form largest application segment among the global laparoscopy devices market. As per the Transparency Market Research global laparoscopy devices market is expected to grow at a CAGR of 7.1% during the forecast period of 2013 to 2019. Other factors which are vital for the global laparoscopy devices market are-
- There are several advantages of choosing laparoscopy surgeries both for patient and surgeon. Some of them are scar-free operation, lesser blood loss, lesser operation time and early recovery altogether. The advantages of laparoscopy surgeries over the open surgeries is key driver of the global laparoscopy devices.
- Though the global laparoscopy device market has several drivers and opportunities but its growth is restrain by a few factors. Some of them are side effects associated with laparoscopic procedures, risk of increase carbon dioxide emissions, and rapidly changing technologies.
- The laparoscopic surgeries treats and manages urological and gastrointestinal aliment more efficiently as compared to the conventional surgeries. This increase the demand for laparoscopy devices in the market.
- Some of the other prominent factor associated with the growth of the global laparoscopy market are increasing investments in market, growing number laparoscopic surgeries and rising prevalence of colorectal cancer.
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- Increase in adoption of bariatric surgeries owing to the growing overweight people across the world has fuelled the global laparoscopy devices market. As per the World Health Organization around 1.4 billion adults were overweight out of which 500 million people were obese in the year 2008. This is an alarming figure which is expected to rise the global laparoscopy devices market.
- Further, technological advancements such as introduction of HD systems in diagnostic instruments, HD cameras and HDTV three chip systems propel the demand for advanced laparoscopy devices. This act as the key driver for the global laparoscopy devices.
- North America is supposed to held the majority share in the global laparoscopy devices market. This is primarily due to the presence of consumers with high disposable income in the region. Apart from this, presence of advanced diagnostic and therapeutic technologies in these regions is boosting the global laparoscopy devices market.
- Furthermore, medical tourism market is rising the global laparoscopy devices market. Previously, it was not feasible for the patient to stay in some other country for surgeries and frequently visit there for further observation. The introduction of medical tourism has successfully overcome the hurdle faced by the patient. This increase the number of laparoscopy surgeries.
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- Rise in governmental initiatives to improve healthcare facilities is another factor boosting the global laparoscopy device market.