According to the latest research report by Technavio, the global laparoscopic devices market is expected to grow at a CAGR of over 8% until 2020.

In this report, Technavio covers the present scenario and growth prospects of the global laparoscopic devices market for 2016-2020. To estimate the market size, our researchers have considered revenues generated from the sales of laparoscopes and laparoscopic instruments, and accessories worldwide.

“Among device types, video laparoscopes are becoming increasingly popular. Video laparoscopes are disposable, cause few complications, and reduce endoscopy-related infections. However, our researchers observe, the sales of devices for alternative diagnostic procedures such as hysterosalpingography, ultrasound, gynecology endoscopy, and magnetic resonance imaging (MRI) may marginally affect the sale of laparoscopes during the forecast period. Olympus Medical Systems, Karl Storz, and Stryker were the leading manufactures of laparoscopes in 2015,” said Brahadeesh Chandrasekaran, Technavio’s industry analyst for orthopedics and general medical devices research.

Americas: largest revenue contributor of the global laparoscopic devices market

The Americas region has emerged as the largest revenue contributor for the laparoscopic devices market and will continue to grow at a CAGR of over 8% until 2020. A rise in the population of people aged 60 years and above is expected to increase the prevalence of chronic diseases such as obesity in the region, which will result in a higher demand for laparoscopic procedures and associated devices. Advances in the design, structure, and function of these laparoscopic devices will further augment the demand for laparoscopic procedures among medical facilities during the forecast period.

The market remains buoyant in anticipation of the Affordable Care Act. On its implementation, many price-sensitive patients in the US will start affording minimal invasive procedures. The Affordable Care Act reforms are envisaged to create a favorable reimbursement policy environment for minimally invasive surgeries. This in turn will lead to an increase in the number of individuals undergoing laparoscopic surgeries in the region during the forecast period.

EMEA: the second largest revenue contributor to the laparoscopic devices market

Governments in EMEA countries are initiating various strategies to spread the awareness of laparoscopies and its benefits in the region. EMEA is also the hub of many reputed vendors and active distributors present in the global laparoscopic devices market. Countries such as, the UK, Germany, France, Italy, and Spain emerged as top revenue contributors for this market in 2015.

With the introduction of new devices and declining price of non-invasive surgery, the EMEA market is expected to witness a surge in the sales of laparoscopic devices. Increasing cases of people with chronic diseases will further increase the demand for laparoscopic devices in the region until 2020. Western Europe will continue to dominate the market in the EMEA region until 2020.

The laparoscopic devices market in APAC valued at USD 730 million in 2015

Japan emerged a major revenue contributor to the market in 2015. Robust government initiatives in the APAC region are leading to many prominent vendors such as Medtronic, Stryker, and Ethicon Endo-Surgery making their way into emerging markets, such as China and India. Simultaneously, local manufacturers in APAC are expected to introduce low-cost products and services during the forecast period. This trend is predicted to result in a decline in the prices for laparoscopic surgeries, thus making it more affordable to the people of this region.

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