The global laparoscopy and endoscopy devices market is projected to be worth USD 28.30 Billion by 2027, according to a current analysis by Emergen Research. The laparoscopy and endoscopy devices market is observing high demand attributed to the rising occurrence of chronic diseases such as cancer. Cancer significantly impacts the societal and economic growth in the US and worldwide and is a major contributor to the cost burden of disease. It has been anticipated that 1,806,590 new cancer cases are likely to be diagnosed in the US in 2020, and 606,520 deaths will occur owing to the disease. Gastrointestinal (GI) cancer is the second leading cause of mortalities due to cancer and GI endoscopy. It is the most appropriate way for diagnosing the disease and hence boosting the laparoscopy endoscopy devices market demand.
Key
Highlights From The Report
In October 2019, Medtronic PLC made an announcement about
the introduction of GI Genius™ intelligent endoscopy module, which deploys AI
to identify colorectal polyps and offer physicians with a strong tool in
combatting colorectal cancer.
Gynecological endoscopy is likely to witness a significant
growth rate in the forecast period and finds usage in diagnosing common female
conditions and pathologies, including certain infertility problems, endometrial
polyps, and small vaginal hemorrhages, among others.
Surging demand for keyhole surgery is a significant factor
in driving the laparoscopy devices market growth attributed to its benefits
comprising shorter stay at the hospital, quicker recovery time, reduced pain
& bleeding post-surgery, and less scarring.
The laparoscopy and endoscopy devices market in the Asia
Pacific region is estimated to grow at the fastest rate in the forecast period
due to considerable economic growth, developing healthcare infrastructure,
rising incidence of cancer, and a rising popularity of advanced diagnostic
procedures.
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.
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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
Others
End Users Outlook (Revenue, USD Billion;
2017-2027)
Hospitals
& Clinics
Ambulatory
Surgical Centers
Others
Regional Outlook (Revenue, USD Billion;
2017-2027)
North America
Europe
Asia Pacific
Latin America
MEA
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