The overall laparoscopic instruments market is expected to grow from USD 7.61 billion by 2016 to USD 11.68 billion in 2021, at a CAGR of 8.9% from 2017 to 2022. The key factors driving the growth of this market are rising prevalence of colorectal cancer which can be treated laparoscopically, increasing use of laparoscopy for bariatric surgeries, and technological advancements in laparoscopic instruments. The base year considered for the study is 2015, and the forecast has been provided for the period between 2016 and 2021.
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Market Dynamics
Drivers
- Increasing investments in the laparoscopic instruments market
- Growing number of laparoscopic procedures performed globally owing to increasing preference for minimally invasive surgeries
- Rising prevalence of colorectal cancer
- Increasing number of laparoscopic bariatric procedures
- Technological advancements in the field of laparoscopy
- Growing healthcare markets in emerging economies
Restraints
- Reduced Medicare payments to healthcare providers in the U.S.
- Increasing preference for robotic surgeries as an alternative to laparoscopic procedures
- Dearth of trained professionals in the field of laparoscopy
Opportunities
- Growing demand for data-integrated imaging systems
- Emerging markets to offer high growth opportunities
Challenges
- Enhancements in equipment capabilities in laparoscopic instruments
- Increasing number of free-trade agreements
