Canada Laparoscopy Devices Market Industry Overview
The Canada laparoscopy devices market is expected to grow at a CAGR of 7.2% during the forecast period 2025-2035. The market is driven by factors such as the rising preference for minimally invasive surgeries, growing geriatric population, rising bariatric population, and rising approval for robotic surgical systems.
Market Lifecycle Stage
The Canada laparoscopy devices market is in the developed phase. The rising preference for laparoscopic surgeries over open surgeries is leading to increased demand for laparoscopy devices such as laparoscopes, energy devices, access and closure devices, and the integration of industry with robotics and AI are some of the major opportunities in the Canada laparoscopy devices market. Furthermore, some of the current key trends in the market are the shift from conventional surgeries to robot-assisted surgery, development and adoption of disposable laparoscopy devices, rising demand for minimally invasive procedures, and increasing number of product launches among market players.
Market Segmentation:
Segmentation 1: by Product
Conventional Laparoscopy Devices
Laparoscopes
Energy Devices
Hand Instruments
Access Devices
Closure Devices
Insufflators
Others
Robotic Assisted Laparoscopy Devices
Systems
Instruments and Accessories
The Canada laparoscopy devices market (by product) is expected to be dominated by the conventional laparoscopy devices segment.
Segmentation 2: by Application
General Surgery
Gynecological Surgery
Urological Surgery
Bariatric Surgery
Other Surgeries
The Canada laparoscopy devices market (by application) is expected to be dominated by the general surgery segment.
Segmentation 3: by End User
Hospitals
Ambulatory Surgery Centers
Others
The Canada laparoscopy devices market (by end user) is dominated by the hospitals segment.
Recent Developments in the Canada Laparoscopy Devices Market
In June 2022, Ethicon, Inc., a subsidiary of Johnson & Johnson, launched the next-gen Echelon 3000 stapler, a closure device for surgical procedures.
In April 2022, Ethicon, Inc., a subsidiary of Johnson & Johnson, launched Enseal X1 Straight Jaw Tissue Sealer, a closure device for stronger sealing in several surgical procedures.
In December 2021, Medtronic plc received a Health Canada license for its Hugo RAS system for the expansion of robotic-assisted surgery.
In December 2021, Intuitive Surgical Inc. received approval from the U.S. FDA for its 8 mm SureForm 30 curved-tip stapler (closure device).
In July 2019, Intuitive Surgical, Inc. acquired the robotic endoscope business of Schölly Fiberoptic. Through this acquisition, the company gained access to Schölly’s robotic endoscope manufacturing line.
Demand – Drivers and Limitations
Following are the drivers for the Canada laparoscopy devices market:
Rising Preference for Minimally Invasive Procedures
Rising Regulatory Approvals for Robotic Systems
Growing Geriatric Population
Rising Bariatric Surgeries
The market is expected to face some limitations as well due to the following challenges:
Long Waiting Time for Laparoscopic Procedures
High Cost of Robot-Assisted Surgery Systems
How can this report add value to an organization?
Type: The type segment helps the reader understand the different types of laparoscopy products available in the market. Moreover, the study provides the reader with a detailed understanding of products that fall under the two main segments, i.e., conventional laparoscopy devices and robotic assisted laparoscopy devices.
Growth/Marketing Strategy: The Canada laparoscopy devices market has witnessed major development by key players operating in the market, such as product launches, business expansions, partnerships, collaborations, and regulatory and legal approvals. The favored strategy for the companies has been regulatory and legal activities and new offerings to strengthen their position in the market. For instance, in June 2022, Ethicon, Inc., a subsidiary of Johnson & Johnson, launched the next-gen Echelon 3000 stapler, a closure device for surgical procedures, and in December 2021, Medtronic plc received a Health Canada license for its Hugo RAS system for the expansion of robotic-assisted surgery.
Competitive Strategy: The key players in the Canada laparoscopy devices market analyzed and profiled in the study involve established and emerging players that offer different products for laparoscopic procedures. Moreover, a detailed competitive benchmarking of the players operating in the Canada laparoscopy devices market has been done to help the reader understand the ways in which players stack against each other, presenting a clear market landscape. Moreover, comprehensive competitive strategies such as partnerships, agreements, collaborations, mergers, and acquisitions will help the reader understand the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Some of the players in this market are:
Applied Medical
Arthrex, Inc.
B. Braun SE
Becton, Dickinson and Company
Boston Scientific Corporation
CONMED Corporation
Cook Group Inc
EIZO Corporation
Intutive Surgical, Inc.
Johnson & Johnson
KARL STORZ SE & Co. KG
Medtronic plc
Olympus Corporation
Smith & Nephew plc
Stryker Corporation
Teleflex Incorporated
Companies that are not a part of the aforementioned pool have been well represented across different sections of the report (wherever applicable).
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