The laparoscopy devices market is still in the development phase. Increased research and development activities are underway to develop more products. The market is driven by factors such as the rising preference for minimally invasive surgeries and increase in the prevalence of chronic diseases in the geriatric population, among others.
The Middle East and North Africa laparoscopy devices market was valued at $752.0 million in 2021 and is anticipated to reach $1,731.4 million by 2031, witnessing a CAGR of 7.71% during the forecast period 2022-2031. The market is driven by factors such as the rising preference for minimally invasive surgeries, increase in the prevalence of chronic diseases in the geriatric population, rising technological advancement, and increase in medical tourism in some countries.
Impact of COVID-19
The COVID-19 pandemic led to the deferral of surgical procedures. The impact of COVID-19 on laparoscopy devices is ambiguous, as surgeries were limited during the pandemic. Before the COVID-19 pandemic, laparoscopic surgeries were majorly undertaken in hospitals and clinical facilities. Owing to factors such as travel restrictions and the risk of transmission of the virus, there was a decrease in laparoscopic surgeries.
As the recovery phase of the COVID-19 pandemic begins, laparoscopy device procedures are expected to normalize.
In addition to this, the COVID-19 pandemic also helped in the adoption of disposable laparoscopy devices. Single-use laparoscopy devices eliminate the risk of cross-contamination, which turned out to be a favorable condition for their adoption during the COVID-19 pandemic.
Recent Developments in Middle East and North Africa Laparoscopy Devices Market
• In January 2022, Seger Surgical Solutions Ltd announced that it had launched the next-generation laparoscopic stapler for intracorporeal anastomosis in the market.
• In September 2021, Olympus Corporation strengthened its surgical portfolio with the launch of POWERSEAL advanced bipolar surgical energy devices.
• In December 2021, Intuitive Surgical, Inc. received FDA clearance for an 8 mm SureForm 30 curved-tip stapler for use in general, thoracic, gynecologic, urologic, and pediatric surgery.
• In January 2020, KARL STORZ SE & Co KG introduced a new 3D surgical imaging system and modular camera platform at Arab Health 2020.
• In March 2019, Stryker Corporation acquired an Israel-based company named Orthospace Ltd. to expand its product portfolio.
• In June 2018, Stryker Corporation signed a definitive agreement to acquire SafeAir AG, a Swiss medical device company dedicated to the design, development, and manufacture of innovative surgical smoke evacuation solutions, for the expansion of the surgical business.
Demand – Drivers and Limitations
Following are the drivers for the Middle East and North Africa laparoscopy devices market:
• Rising Preference for Minimally Invasive Surgeries
• Increase in Prevalence of Chronic Diseases in Geriatric Population
• Rising Technological Advancements
• Increase in Medical Tourism in Countries
The market is expected to face some limitations too, due to the following challenges:
• High Cost of Robotic-Assisted Minimally Invasive Surgeries and Shortage of Skilled Professionals
• Lack of Reimbursement Policies
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 Resources Corporation
• Arthrex, Inc.
• Asensus Surgical, Inc.
• Barco N.V.
• B. Braun SE
• Boston Scientific Corporation
• CONMED Corporation
• Human Xtensions Ltd.
• Intuitive Surgical, Inc.
• Johnson & Johnson
• KARL STORZ SE & Co. KG
• Medtronic plc
• Olympus Corporation
• Peters Surgical
• Seger Surgical Solutions Ltd
• Stryker Corporation
• Virtual Ports
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 Middle East and North Africa laparoscopy devices market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. The favored strategy for the companies has been regulatory and legal activities, partnerships, alliances, and business expansions to strengthen their position in the market. For instance, in March 2019, Stryker Corporation acquired an Israel-based company, named Orthospace Ltd., and in September 2021, Olympus Corporation strengthened its surgical portfolio with the launch of POWERSEAL advanced bipolar surgical energy devices.
Competitive Strategy: Key players in the global Middle East and North Africa laparoscopy devices market analyzed and profiled in the study involve established and emerging players that offer different products for laparoscopy devices. Moreover, a detailed competitive benchmarking of the players operating in the global Middle East and North Africa laparoscopy devices market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
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