Overall, the U.S. laparoscopic device market is expected to increase over the next several years to exceed $5 billion by 2023
Vancouver, BC -- (ReleaseWire) -- 09/26/2017 --According to a new series of reports on the U.S. market for laparoscopic devices by iData Research (www.idataresearch.com), disposable instruments are preferred over reusable instruments within the United States, but reposable devices, which have a reusable component and a disposable component, are becoming more popular. Ongoing research continues to drive technological advancements, and newer, multifunctional devices that can play a variety of roles during laparoscopic surgery continue to be favored.
"Large amounts of resources have been allocated to researching and developing more advanced tools to refine the process of conducting laparoscopic procedures," explains Jeffrey Wong, Strategic Analyst Manager at iData Research. "Newer, state-of-the-art multifunctional devices are the future of laparoscopy and their high costs will further drive growth in this market."
This market benefited substantially from growth in laparoscopic procedures, especially the significant growth in bariatric procedures over the last few years. However, growth in laparoscopic device market segments will exceed procedure number growth rates due to the continuing development of higher-priced multifunctional devices. The direct energy, ultrasonic and closure device segments will all benefit substantially from this trend. The closure device market is currently experiencing the highest growth with a keen interest in tackers and automated stapling. The vessel sealing market is also bolstering electrocautery sales and market value.
As the pressure to cut costs rises across the United States, every device entering a hospital needs to have its cost justified with proven efficiency gains. New medical devices are attempting to meet these demands by providing end-users with high efficiency multifunctional devices that cut costs over time. Ultimately, cost effectiveness is attractive to end-users and will drive market growth in the long run.
Learn More About iData's Research on the U.S. Laparoscopic Device Market
Medtronic is the leading competitor in the U.S. laparoscopic device market due to their majority share in the direct energy and closure device segments. Sales of Medtronic's LigaSure™ devices allowed the company to gain a commanding position in the direct energy device segment. They also compete in the access device, hand instrument, insufflation and ultrasonic device segments. Medtronic is working to enhance growth in their laparoscopic product sales through research and development, and through further acquisitions. Medtronic's previous acquisitions of Covidien and Valleylab among others greatly expanded their product range. The Endo GIA™ staplers, especially their tri-staple products, were very popular with end-users, and will continue to be a highly profitable product line for Medtronic over the next several years.
The second leading competitor in the market is Ethicon, relying on their popular reputation in the ultrasonic and access device markets. Ethicon generally prices its products above the market average, avoiding pricing wars altogether. A large part of Ethicon's revenue stems from their HARMONIC® ultrasonic instrument sales. Additional competitors in the U.S. laparoscopic market includes Stryker, Karl Storz, Applied Medical, Olympus, Richard Wolf, ConMed, Bayer, B. Braun/Aesculap, CareFusion, C. R. Bard, Apollo Endoscopy, Microline Surgical, Cooper Surgical, Integra LifeSciences (Jarit), Lina Medical, ReShape Medical and Obalon Therapeautics among others.
For Further Information
More on the laparoscopic device market in the U.S. can be found in a series of reports published by iData Research entitled the U.S Market Report Suite for Laparoscopic Devices. The full report suite includes market research data on laparoscopes, access devices, hand instruments, insufflation devices, suction-irrigation devices, direct energy devices, ultrasonic energy devices, hand-assisted devices, closure devices, gastric bands, powered morcellators, and female sterilization devices.
The iData report series on laparoscopic devices covers the U.S. and 15 countries in Europe including Germany, France, the United Kingdom (U.K.), Italy, Spain, Benelux (Belgium, Netherlands and Luxembourg), Scandinavia (Finland, Denmark, Sweden and Norway), Portugal, Austria and Switzerland. Reports provide a comprehensive analysis including units sold, market value, forecasts, as well as detailed competitive market shares and analysis of major players' success strategies in each market and segment. To find out more about laparoscopic device market data, register online or email us at email@example.com for a U.S Market Report Suite for Laparoscopic Devices brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting firm, dedicated to providing the best in business intelligence for the medical device industry. Our research empowers our clients by providing them with the necessary tools to achieve their goals and do it right the first time. iData covers research in: Laparoscopy, Urology, Gynecology, Endoscopy, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large & Small Joints, Spinal Implants and VCF, Spinal MIS, Dental Operatory Equipment, Dental Material, Dental Lasers, Dental Prosthetics, Dental CAD/CAM, Dental Bone Graft Substitutes, Ultrasound, X-Ray Imaging, Diagnostic Imaging, Oncology, Ophthalmics, Vascular Access, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Anesthesiology, Wound Management, Orthopedics and more.
We have built a reputation and earned our clients' trust based on consistent and uniquely intelligent research that allows our customers to make confident decisions and impact their businesses. A combination of market expertise and over a decade of experience has resulted in a deep understanding of the medical device industry that has inspired innovation and propelled our clients to success.