A new market research report published in MarketsandMarkets said the global market for laparoscopic instruments is expected to reach $22.1 billion by 2026, up from $12.3 billion in 2021.
Here are four things to know:
1. The growth in the market is driven by the increasing number of minimally invasive surgeries, the rising prevalence of colorectal cancer, the increasing number of laparoscopic bariatric procedures and laparoscopy technological advancements.
2. Medical laparoscopic robots held the largest share of the global laparoscopic instrument market in 2020.
3. The bariatric surgery segment of laparoscopic devices is expected to grow at the highest rate between 2021 and 2026.
4. In terms of end-user segments in the laparoscopic device market, ASCs are projected to see the highest compound annual growth rate between 2021 and 2026, outpacing hospitals.