Albany, NY -- (SBWIRE) -- 09/06/2016 -- Laparoscopy devices, as a vital tool in minimally-invasive surgeries, render numerous benefits to patients, including shorter hospital stay and faster recovery. The global laparoscopy devices market has gained strong growth over the years due to rising scope of applications. Bariatric surgeries, 90% of which use laparoscopy devices, have greatly supported the growth of the laparoscopy devices market in recent times given that these surgeries are being increasingly performed for weight reduction. The alarming rise in obese and overweight population around the world has triggered the demand for bariatric surgeries, thereby boosting the demand for laparoscopy devices.

Energy Systems Claim Highest Demand

On the basis of equipment, the global market for laparoscopy devices can be segmented into insufflation devices, wound protectors, laparoscopes, trocars, gastric bands, energy systems, hand-assist devices, sample retrieval bags, irrigation systems, and internal closure devices. Energy systems are anticipated to register the highest CAGR by 2019, all the while witnessing healthy growth, states a research report published by Transparency Market Research. There has been a shift from traditional monopolar energy systems to more efficient ultrasonic energy systems and advanced bipolar energy devices, which has greatly contributed to the development of the energy systems segment.

Bariatric Surgery Largest Application Segment

Laparoscopy devices find application in general surgery (including appendectomies, hernia repairs, antireflux surgeries, and cholecystectomies), gynecological surgeries, bariatric surgery (including gastric bypass, sleeve gastrectomies, and gastric banding), colorectal surgeries, and urological surgeries (including nephrectomies, and prostatectomies). Bariatric surgery was the largest application segment of the laparoscopy devices market. Bariatric surgeries are performed for weight reduction and these surgeries have been on the rise over the past decade owing to surging rate of obesity across the globe.

Colorectal surgeries formed the second largest application segment of the laparoscopy devices market owing to the rising adoption of laparoscopic surgeries for the treatment of colorectal cancer. A laparoscopic procedure allows for smaller incisions compared to an open colectomy, which translates to lesser pain post surgery and speedier recovery. A rise in the number of cholecystectomy surgeries being performed laparoscopically is anticipated to boost the general surgery segment by 2019.

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North America Dominates Global Market

Geographically, the global market for laparoscopy devices is categorized into four key regions: North America, Europe, Asia Pacific, and Rest of the World. North America dominated the worldwide market in 2012, and together with Europe accounted for over 60% of the global laparoscopy devices market. These two regions are anticipated to retain their leading position through 2019 owing to the presence of advanced diagnostic as well as therapeutic technologies, high disposable income of consumers, and increased levels of obesity.

Asia Pacific, followed by Latin America, has been identified as the most lucrative market. This future growth can be attributed to development of medical tourism, improvement in healthcare infrastructure, rise in disposable income, expanding patient pool, and rising prevalence of diseases. South Africa is expected to be the only market with significant potential in the Rest of the World region. Some of the prominent companies operating in the global and domestic laparoscopy devices market are Boston Scientific Corporation, Smith & Nephew PLC, Richard Wolf GmbH, B. Braun Melsungen AG, Cook Medical, Inc., Covidien PLC, Stryker Corporation, Olympus Corporation, FUJIFILM Holdings Corporation, and KARL STORZ GmbH & Co. KG.

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