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DUBLIN, Aug. 22, 2022 /PRNewswire/ — The “Laparoscopy and Endoscopy Devices Market – A Global and Regional Analysis: Focus on Therapeutic Area, End User, Product Type, and Country-Wise Analysis – Analysis and Forecast, 2022-2031” report has been added to ResearchAndMarkets.com’s offering.
The global laparoscopy and endoscopy devices market was valued at $23,809.2 million in 2021 and is projected to reach $38,942.2 million by the end of 2031, growing at a CAGR of 4.94% during the forecast period 2022-2031.
The global laparoscopy and endoscopy devices market is a huge market comprised of various endoscopy, laparoscopy, and capsule endoscopy devices.
These include endoscopes and endoscopic systems, video and visualization systems, instruments and accessories, workstations and data recorders, capsules, laparoscopes and systems, energy devices, insufflators, suction or irrigation devices, closure devices, hand instruments, and access devices among others.
Global Laparoscopy and Endoscopy Devices Market Drivers
The market is driven by factors such as the increasing prevalence of chronic diseases, several benefits of minimally invasive Surgeries Over Invasive Open Surgeries, Growing Geriatric Population, Rapidly Increasing healthcare costs, technological advancements in minimally invasive surgeries, and the growing number of surgical procedures.
Minimally invasive surgeries offer greater benefits as compared to conventional open surgery approaches. These benefits may include smaller incisions, faster recovery times, less pain, scarring, and better accuracy than their counterparts. Due to the benefits of minimally invasive surgeries, the popularity of these surgeries has increased tremendously after the 70s (the time these surgeries were developed).
Currently, laparoscopic surgery (a minimally invasive procedure) has become a gold standard for procedures ranging from gallbladder removal, bariatric surgeries as well as colon cancer removal.
Global Laparoscopy and Endoscopy Devices Market Challenges
The factors restraining the market growth of laparoscopy and endoscopy devices market include the shortage of skilled professionals and the lack of reimbursement frameworks in emerging markets.
On an institutional level, surgeons often have to face a dearth of enabling functional equipment and devices during a surgery which significantly impedes the uptake of minimally invasive surgeries. Also, surgeons often resort to open surgical procedures due to lack of skilled nurses to assist surgeons in MIS procedures. Also, there is the shortage of required resources in public referral hospitals.
Global Laparoscopy and Endoscopy Devices Market Opportunities
The opportunity for growth of the global laparoscopy and endoscopy devices market lies in the opportunity to engage in mergers and acquisitions to diversify endoscopic portfolio and investments and regional expansion.
Impact of…
Full story available on Benzinga.com
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