The favored strategy for the companies has been regulatory and legal activities and new offerings to strengthen their position in the market.
BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Canada Laparoscopy Devices Market.
According to this study, the market size of the Canada laparoscopy devices market was valued at $392.1 million in 2021 and is projected to reach $865.6 million by 2031.
The following factors are responsible for the increase in demand for laparoscopy devices in the Canadian market:
- Rising preference for minimally invasive procedures
- Rising regulatory approvals for robotic systems
- Growing geriatric population
- Rising bariatric surgeries
The detailed study is a compilation of 36 market data tables and 150 figures spread through 195 pages.
Check out the detailed table of content here:
Analyst’s Take on the Market Projection
According to Swati Sood, Principal Analyst, BIS Research, “The Canada laparoscopy devices market is well-established and is expected to witness significant growth over the forecast period. Currently, the conventional laparoscopy devices segment holds a greater share of the Canada laparoscopy devices market, and the trend is anticipated to continue in the forecast period. Furthermore, the robotic-assisted laparoscopy devices segment is anticipated to witness the fastest growth in the market owing to the several advantages of advanced robotic systems and the rising regulatory approvals for robotic systems in the country. Moreover, the diversification of the product portfolio by incorporating technologically advanced laparoscopic instruments will create ample opportunities for market growth.”
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Existing Competitive Landscape
The companies that are profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are
- Applied Medical Resources Corporation
- Arthrex, Inc.
- B. Braun SE
- Becton, Dickinson and Company
- Boston Scientific Corporation
- Cook Group
- CONMED Corporation
- EIZO Corporation
- Intuitive Surgical, Inc.
- Johnson & Johnson
- KARL STORZ SE & Co. KG
- Medtronic plc
- Olympus Corporation
- Smith & Nephew plc
- Stryker Corporation
- Teleflex Incorporated and more.
Recent Developments in the Global 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.
Robot-Assisted Laparoscopy Devices to Witness Majority Growth
The Canada laparoscopy devices market is segmented into conventional laparoscopy devices and robotic-assisted laparoscopy devices. Conventional laparoscopy devices consist of devices such as laparoscopes, and their associated instruments and accessories required in a laparoscopic procedure whereas the robotic-assisted laparoscopy devices segment include surgical robots, and instruments and accessories.
According to the study conducted by BIS Research, the conventional laparoscopy devices segment held a larger share of the Canada laparoscopy devices market compared to the robotic-assisted laparoscopy devices segment in 2021.
However, the robotic-assisted laparoscopy devices segment is expected to grow by a CAGR of 12.10% in the forecast period 2022-2031 and witness higher growth than its counterpart.
Want to learn more about the latest trends in the robotics & imaging industry? Speak to our analysts
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About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
BIS Research offers syndicate as well as custom studies and expert consultations to firms, providing them with specific and actionable insights on novel technology markets, business models, and competitive landscapes.
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