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Laparoscopy is a minimally invasive surgical procedure that is used to examine abdominal organs. This is performed with specialized laparoscopic devices. A laparoscope is a long, thin tube with a high-intensity light and a high-resolution camera at the front. The instrument is inserted through an incision in the abdominal wall. As it moves along, the camera sends images to a video monitor. These devices are mainly preferred for the patients who are suffering from abdominal disorders and surgeries related to the pancreas, liver, colon and bile duct. Moreover, laparoscopic devices are also commonly used to perform procedures such as repairs, gastric bypass, bowel resection, and organ removal.
Laparoscopic Device Market: Drivers and Restraints
An increasing percentage of obese population is coupled with increased demand for bariatric surgery for weight reduction, such as gastric bypass, sleeve gastrectomy, and gastric banding through laparoscopy that in turn drives the growth of the laparoscopic devices market. Additionally, laparoscopy offers advantages over open surgeries such as few incisions during surgery, shorter hospital stays are less painful with quick recovery post-surgery. Thus all these advantages act as definite key factors boosting the growth of the laparoscopic device market. Furthermore, rising demand for healthcare facilities, an increase in the number of geriatric populations and a rise in chronic diseases fuel the growth of the laparoscopic device market.
However, the dearth of skilled professionals for laparoscopic procedures, risks associated with post-operative laparoscopy as well as lack of reimbursement in the emerging markets hinders the growth of the laparoscopic device market. Additionally, the high cost of laparoscopic devices restricts the growth of the overall market. Moreover, the demand for laparoscopic devices will increase significantly owing to the technological advancements in energy devices and laparoscopes that in turn, will provide beneficial opportunities for the laparoscopic device market.
Laparoscopic Devices Market: Regional Analysis
Among the geographies, North America holds the largest share in the laparoscopic device market followed by Europe. The high adoption rate of new technologies, as well as increasing awareness and presence of trained surgeons in laparoscopy, drives the growth of the laparoscopic device market in the region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia Pacific is estimated to turn in a profitable region owing to emerging economies and rise in healthcare expenditures in China and India.
Laparoscopic Devices Market: Major Key Players
The report provides profiles of the companies in the market such as Smith & Nephew, Medical Devices Business Services, Inc., CONMED Corporation, Richard Wolf GMBH, Stryker Corporation, Medtronic PLC, Olympus Corporation, Karl Storz GmbH & Co.KG, Braun Aesculap, and Other companies.
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