Yahoo Finance Laparoscopic Vision Systems Market size will worth to USD 28.8 billion by 2029 it will grow at a CAGR of 11.8% till 2029 : GreyViews
Laparoscopic Vision Systems Market Size by Product Type (Insufflator, Suction/Irrigation systems, Laparoscope, Access & Energy Devices), Application (General, Colorectal, Gynecology, Urology, Bariatric, Pediatric), End-User (Hospitals, Ambulatory Surgical Centers, and Others), Regions, Segmentation, and projection till 2029
Pune India, Dec. 01, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Laparoscopic Vision Systems market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Laparoscopic Vision Systems market is present across various countries in the above-mentioned regions.
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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the product, route of administration, facility of use, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Laparoscopic Vision Systems market are Intuitive Surgical, Stryker Corporation, Olympus Corporation, Karl Storz GmbH & CO. KG, Medtronic PLC, Microline Surgical, Inc., B. Braun Melsungen AG, SCHÖLLY Fiberoptic GmbH, Optomic, Victor Medical Instruments Co., Ltd among others. To achieve a substantial market share in the worldwide Laparoscopic Vision Systems market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
The laparoscopic vision system is a surgery that can be combined with a traditional laparoscope and provides the surgeon with a more detailed view of the abdominal cavity, or any other part of the human organ. It helps surgeons get closer to the affected area and perform the surgery more accurately and with a precise result of the surgery.
These days patients prefer minimally invasive surgeries, which increases the demand for laparoscopic vision systems. Minimally invasive surgeries reduce the visibility of scars, and there is also less blood loss, reduced pain, better recovery times, and shorter hospital stays. The demand for laparoscopic vision systems is increasing due to their better performance and lower error rates. The changing lifestyle and fooding style affects the health of humans leading to the cause of several diseases along with the increasing geriatric population. These factors are also expected to drive the market’s growth.
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Scope of Laparoscopic Vision Systems Market Report
Report Metric | Information |
Study Period | 2021-2029 |
Base Year | 2021 |
Forecast Period | 2022-2029 |
Market Share Unit | USD Billion |
Segments Covered | Product type, application, and end-user |
Regions Covered | North America, Europe, Asia-Pacific, South America and Middle-East and Africa |
Major Players | Intuitive Surgical, Stryker Corporation, Olympus Corporation, Karl Storz GmbH & CO. KG, Medtronic PLC, Microline Surgical, Inc., B. Braun Melsungen AG, SCHÖLLY Fiberoptic GmbH, Optomic, Victor Medical Instruments Co., Ltd among others |
Segmentation Analysis
Acces& Energy devices segment is expected to be the fastest growing segment in 2021.
The product segment includes insufflators, suction/Irrigation systems, laparoscopes, and access & energy devices. Access & energy devices are expected to witness the highest growth rate during the forecast period. The access and energy systems allow transection, rapid sequential tissue and vessel sealing, and coagulation during laparoscopic surgery, which drives the segment’s growth. This system is widely used in various applications of bariatric surgeries, such as adjustable gastric band, sleeve gastrectomy, gastric bypass, and biliopancreatic diversion with duodenal switch, propelling the segment’s growth.
The General segment is expected to be the fastest growing segment in 2021.
The application segment includes general, colorectal, gynecology, urology, bariatric, and pediatric. The general segment is expected to witness the highest CAGR during the forecast period. Cholecystectomy laparoscopy, thoracic laparoscopy, colon laparoscopy, appendectomy laparoscopy, and prostrate laparoscopy drive the segment’s growth. The increasing incidences of diseases such as cancer, obesity, and diabetes owing to changing lifestyles, supplements the segment's growth.
The hospital segment is expected to be the fastest-growing segment in 2021.
The end-user segment includes hospitals, ambulatory surgical centers, and others. Hospitals is expected to witness the highest growth rate during the forecast period. Most laparoscopic surgeries require a well-built infrastructure and heavy machinery, which can only be found in hospitals. The rising demand for laparoscopic surgeries boosts the segment’s growth as hospitals as they see a large of patients regularly. In addition, the cost-effective benefits of hospitals have boosted demand for Laparoscopic Vision Systems in hospitals. Moreover, several such settings have been boosted dramatically due to the emergence of the COVID-19 pandemic. This factor has further created lucrative growth opportunities for the segment.
Regional Analysis
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the Laparoscopic Vision Systems include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
North American region witnessed a major share. This is mainly attributed to an increased preference for minimally invasive surgeries and an upsurge in the geriatric population in the region. Furthermore, the region also witnessed an increase in chronically ill populations, propelling the market’s growth. In addition, the factors such as favorable regulations and technically innovative healthcare facilities across the U.S. and Canada boost the market growth.
Country Analysis
Germany
Germany's Laparoscopic Vision Systems market size was valued at USD 1.24 billion in 2021 and is expected to reach USD 2.58 billion by 2029, at a CAGR of 9.6% from 2022 to 2029.
Germany is one of the leading shareholders in the Laparoscopic Vision Systems market in Europe. In addition, the huge healthcare spending by the government in this country has been a major contributor to market growth. Furthermore, the increased prevalence of chronic diseases and increasing demand for minimally invasive surgeries has driven the demand for Laparoscopic Vision Systems.
China
China's Laparoscopic Vision Systems market size was valued at USD 1.20 billion in 2021 and is expected to reach USD 3.03 billion by 2029, at a CAGR of 12.3% from 2022 to 2029. The factors such as the aging population, increasing consumer income, and government initiatives have driven the growth of the China Laparoscopic Vision Systems market. In addition, China accounts for about 40% of all active pharmaceutical ingredients (APIs) used globally in the global pharmaceutical manufacturing supply chain. In addition, the number of Chinese facilities that produce APIs for the U.S. has increased significantly over the past decade. This factor has primarily contributed to this country's Laparoscopic Vision Systems industry revenue.
India
India's Laparoscopic Vision Systems market size was valued at USD 0.93 billion in 2021 and is expected to reach USD 2.19 billion by 2029, at a CAGR of 11.3% from 2022 to 2029. India is one of the highest growing economies in Asia. The increasing geriatric population and rising prevalences of chronic diseases in the country have driven India's Laparoscopic Vision Systems market. Furthermore, the region has a huge population pool and well-built healthcare infrastructure, which propels the market’s growth.
Covid-19 Impact
Covid-19 had a major impact on almost all industries such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the healthcare sector have seen increased revenue due to significant changes in consumer preferences toward healthcare services. In addition, the pandemic has led to significant healthcare spending growth across developing and developed countries.
Furthermore, the weak immune system and changing lifestyles of people owing to COVID-19's rapid expansion. This factor has boosted the growth of the global Laparoscopic Vision Systems market.
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