(Health-NewsWire.Net, September 13, 2017 ) The Latin America Laparoscopy Device Market was worth $1.63 billion in 2016 and estimated to be growing at a CAGR of 7.79%, to reach $2.38 billion by 2021. Latin America represents a rapidly growing market worldwide.
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Minimally invasive surgeries safeguard that the patients have a condensed duration of hospital stay, nominal pain and less retrieval time as they are performed with minimal cut in the patients body. The demand for these devices arises from growing demand for minimally invasive medical procedures and the accessibility these devices offer to surgeons.
The Laparoscopy Device industry is mainly driven by advancements, elderly population and increasing demand for decrease in healthcare spending. Moreover, quickly increasing population base and demand for cost effective products are some more reasons due to which the industry is observing profitable growth in the Latin American region. However, the deprived economic conditions in Latin America will hamper the acceptance of premium-priced products, particularly advanced energy devices.
The Latin America laparoscopic Devices market is segmented on the basis of product into internal closure devices, hand access instruments, robotic assisted surgical system, laparoscopes, direct energy systems and insufflation devices. Based on therapeutic application the market is divided into colorectal surgery, gynaecological surgery, general surgery, bariatric surgery and urological surgery. On the basis of end-users the market is bifurcated into hospitals, clinics and ambulatory surgical centers. Direct energy system devices segment has accounted for maximum share in 2016 and is projected to register a healthy CAGR in the forecast period.
Based on geography the market is analysed under various regions namely, Mexico, Brazil and Argentina. During the forecast period the fastest growth rate of minimally invasive surgeries is expected to be centered in Mexico.
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Some of the major players in the laparoscopy market are Boston Scientific Corporation, Karl Storz, ConMed, Aesculap, Covidien, Olympus, Intuitive Surgical, Stryker, Medtronic, B. Braun Melsungen AG, Ethicon US LLC and Smith & Nephew.
1) By Product Type
Internal Closure Devices
Hand Access Instruments
Robotic Assisted Surgical System
Direct Energy Systems
2) By Therapeutic Application
3) By End Users
Ambulatory Surgical Centers
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Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
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