According to the report titled ‘Global Laparoscopic Instruments Market Size study, by Product (Laparoscope, Insufflator, Suction/Irrigation systems, Access & Energy Devices), Application (Gynecology, General, Urology, Colorectal, Bariatric, Pediatric), End User (Hospital, ASC) and Regional Forecasts 2020-2027’, available with Market Study Report, global laparoscopic instruments market was worth USD 10.93 billion in 2020 and is anticipated to reach USD 24.9 billion by 2027, growing at 12.5% CAGR during 2020-2027.
 

Increasing prevalence of chronic diseases coupled with demand for minimally invasive surgeries, and technical advancements are driving global laparoscopic instruments market growth.
 

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For the unversed, laparoscopy is a surgery that involves small incisions made in the body, through which a laparoscope and other necessary instruments are placed inside to visualize the internal organs and parts.
 

Rapid growth in the healthcare sector in developing economies is expected to catalyze the industry expansion graph. However, dearly cost of devices, and restrictive & unfavorable medical reimbursement scenario is some nations are acting as challenges in worldwide laparoscopic instruments market outlook.
 

Based on product terrain, the market is segmented as Insufflator, access & energy device, laparoscope, and suction/ irrigation systems. In terms of application, the industry space is bifurcated as general surgery, gynecology, colorectal, pediatric, bariatric, and urology.
 

Geographically, global laparoscopic instruments industry sphere is divided into Asia Pacific, North America, Latin America, Europe, and rest of the world. Of these, North America contributed significantly to the market share in the recent past, pertaining to rising pool of aged and sick population, increase in minimally invasive surgeries, and technological advancements.
 

Parallelly, Asia Pacific market is touted to exhibit comparatively higher CAGR throughout the study period, owing to improving healthcare infrastructure, strengthening distribution network, increase in medical tourism, and comparatively lesser regulations for trade.
 

The competitive landscape of global laparoscopic instruments market sphere is framed by Intuitive Surgical Inc., Stryker Corporation, Olympus Corporation, Karl Storz SE & Co. KG, Medtronic plc, Microline Surgical Inc., B. Braun, SCHÖLLY FIBEROPTIC GmbH, Optomic España S.A., and Peters Surgical India Pvt. Ltd.