The global laparoscopy instruments market size was valued at USD 12.88 billion in 2021. The market is projected to grow from USD 14.13 billion in 2022 to USD 25.26 billion by 2029, exhibiting a CAGR of 8.7% during the forecast period.
This information is provided by Fortune Business Insights, in its report titled, “Laparoscopy Instruments Market, 2022-2029.”
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Key Industry Development:
January 2022: To improve the distribution of its products throughout the U.S., Microline Surgical established a new sales team in the Southeast region.
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Drivers and Restraints:
Demand for Instruments Will Rise as Laparoscopic Procedures Backed by Surged Usage
A range of medical disorders are treated by laparoscopy, both for diagnosis and treatment. A laparoscope and other surgical tools are inserted by the doctors during these procedures through one or more small incisions made in the patient's abdomen. The use of minimally invasive procedures has grown dramatically during the past 10 years. The increased usage of laparoscopic surgery is a result of its many added advantages. These factors are expected to boost the laparoscopy instruments market growth.
COVID-19 Pandemic Cancelled Elective Surgeries and Negatively Impacted Market
The global landscape of medical procedures has been drastically altered by the COVID-19 pandemic. Due to a number of problems, including procedural prioritization, workforce and staffing challenges, intraoperative viral transmission risk, and modifications to perioperative practice, the COVID-19 greatly impeded surgical procedures. During the pandemic, many businesses with a line of laparoscopic tools saw a decline in the demand for their goods.
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