U.S. Laparoscopic Devices Market (2024 - 2030)

U.S. Laparoscopic Devices Market Trends

The U.S. laparoscopic devices market was valued at USD 2.26 billion in 2023 and is projected to grow significantly at a CAGR of 7.13% from 2024 to 2030. Key drivers include an increase in the number of surgical procedures, an aging population, and a high prevalence of chronic diseases along with a rising number of preventive surgeries performed to curb the prevalence of chronic diseases. In addition, an increase in the number of surgical procedures due to accidents, burns, and trauma cases is one of the major factors driving the market in this country.

In 2023, the U.S. held a significant 29.0% share of the global laparoscopic devices market. The reasons for this can be attributed to the rising incidence of chronic diseases like diabetes and cancer, favorable government policies, and increasing awareness among people. Laparoscopy is now being recommended by surgeons over traditional surgeries as it allows for faster healing and better outcomes. This growing awareness about the benefits of minimally invasive surgeries and laparoscopic procedures is expected to drive market growth.

Additionally, increasing healthcare investments in the U.S. may attract new players to the market. The increasing number of conventional surgeries has created a huge demand for modern surgical tools and techniques. Major companies are focusing more on introducing technologically advanced surgical instruments. For example, powered surgical instruments, such as battery-powered and electric-powered, are becoming more popular among surgeons due to their ease of use and effectiveness.

Furthermore, electrosurgeries reduce blood loss by cauterizing tissue using an electric current. With the emergence of advanced surgical tools, there is an increasing demand for these products as surgical efficiency gains momentum. Additionally, several government and non-governmental organizations have increased their funding in healthcare sectors to support innovations and technological advancements in surgeries and other fields.

Market Concentration & Characteristics

Technological advancements in laparoscopy devices are one of the major drivers of this industry. These advancements include HD imaging, portability, and micro laparoscopy, which enable accurate diagnoses & treatment. Moreover, various key industry players are investing in R&D for developing innovative minimally invasive surgical instruments. For instance, introducing medical robots to assist surgeons in procedures is a key development in the field. Many component manufacturers in the laparoscopy devices industry are focused on ensuring ergonomic and modular designs. Some companies also focus on innovations in hand access instruments, slide-lock graspers & trocars, and closure devices used in these surgeries. In addition, competition among prominent players related to product innovation will also impact the industry.

Key players are trying to carve out their niche through various business strategies such as mergers and acquisitions, collaborations, and partnerships. For instance, in February 2020, Medtronic announced the acquisition of Digital Surgery to enhance its robotic-assisted surgery platform and provide AI & data analytics within laparoscopic procedures. Various companies are also shifting their focus toward electrosurgical surgical instruments through acquisitions of niche players which is expected to boost the industry growth.

Medical malpractices lead to surgical errors, which result in nearly 100,000 injuries in the U.S. every year. However, rising health insurance coverage is expected to increase the number of surgeries performed and the demand for surgical instruments. The U.S. industry is expected to grow during the forecast period due to increasing government initiatives, supportive regulations and laws, and increasing awareness in the community. The high cost of switching accessory suppliers due to changing regulatory compliance contributes to high supplier power.

End-Use Insights

In 2023, the hospital segment held the largest share of 62.88%, which can be attributed to an increase in patients suffering from chronic ailments leading to a rise in surgical procedures. Hospitals are the primary healthcare system in many countries, so the number of laparoscopic surgeries performed in hospitals is relatively high. Additionally, hospitals are using advanced technology and devices extensively to provide better treatment, resulting in a comparatively higher demand for laparoscopic devices in hospitals. On the other hand, the ambulatory segment is expected to witness the fastest CAGR during the forecast period. This growth can be attributed to the high preference for outpatient surgeries, an increase in the adoption of minimally invasive surgeries, and the cost-effectiveness of ambulatory surgery center-based laparoscopic procedures. Furthermore, the demand to curb surgical and postsurgical expenses and the increasing prevalence of chronic ailments are expected to drive the growth of this segment.

Product Insights

The robot-assisted system segment accounted for the largest share of 22.96% in 2023 due to increasing investments in R&D, availability of technologically advanced products, and high product adoption. In addition, collaborations, and partnerships for developing innovative medical robotic platforms are expected to propel market growth during the forecast period. Furthermore, the rising number of product launches and increasing prevalence of conditions such as cardiovascular disorders, cancers, & neurological disorders are expected to boost segment growth during the forecast period.

The hand-access instruments segment is expected to witness the fastest CAGR over the forecast period. The segment is driven by technological innovations and their growing adoption in minimally invasive surgeries. These handheld devices can be either mechanical, robotic, or semi-automated. Handheld devices ensure easier access during surgery with instrument triangulation, thereby reducing the risk of potential errors.

Application Insights

The general surgery segment accounted for the largest share of 19.31% in 2023. The application of trocars in general surgery, especially in laparoscopic surgery, has increased largely in recent times. Most surgeons prefer trocars as they allow a clear view of tissues without cameras. In addition, there is a low risk of developing postoperative infection, with lesser healing time, compared to traditional open surgeries. This factor is expected to propel segment growth during the forecast period.

The bariatric surgery segment is expected to witness the fastest CAGR over the forecast period. The increasing incidence of obesity in adults due to changing lifestyle habits and excessive intake of calories is the major driver for segment growth. Furthermore, the American Heart Association has estimated the total medical cost for bariatric surgery to reach USD 957.0 billion from USD 861.0 billion by 2030. Moreover, government support and increased awareness about unhealthy food/drinks available in the market & their impact on BMI are expected to increase the demand for bariatric surgeries during the forecast period.

Key U.S. Laparoscopic Company Insights

Some of the prominent U.S. laparoscopic devices market companies operating include Medtronic, Stryker Corporation, Microline Surgical, BD, Karl Storz SE & CO. Kg, Johnson and Johnson, Olympus Corporation, CONMED Corporation, B. Braun Melsungen AG, The Cooper Companies Inc., and Richard Wolf GmbH. In addition, increasing healthcare expenditure in the U.S. may also favor the entry of both new and old players.

Key players are strategically expanding their businesses and building more warehouses at various locations to run their operations through different channels in the worst-hit regions. Companies are adopting various strategies to tackle supply chain disruption, including rerouting logistics, sourcing from additional partners, and quick delivery with air freight.

Recent Developments

• In February 2024, Virtual Incision Corporation received the FDA approval in marketing authorization of the MIRA™ Surgical System (MIRA). It is the world’s first miniaturized robotic-assisted surgery (miniRAS) device, for use in adults undergoing colectomy procedures

• In November 2023, Ethicon (Johnson & Johnson) announced the launch of an AI-powered laparoscopic surgical simulation platform which is a first-of-its-kind device that integrates augmented reality, AI-guided assessment, and tactile feedback. It aims to enhance the surgical skills and training experiences for general, gynecological, and laparoscopic surgeons

U.S. Laparoscopic Devices Market