CHICAGO, April 16, 2021 /PRNewswire/ — According to the new market research report “Laparoscopic Instruments Market by Product (Laparoscope, Insufflator, Suction/Irrigation systems, Access & Energy Devices), Application (Gynecology, General, Urology, Colorectal, Bariatric, Pediatric), End User (Hospital, ASC) – Global Forecast to 2026″, published by MarketsandMarkets™, the global market is expected to reach USD 22.1 billion by 2026 from an estimated USD 12.3 billion in 2021, at a CAGR of 12.5%.
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The Growth in the market is largely driven by the increasing adoption of minimally invasive surgeries over open surgeries, the rising prevalence of colorectal cancer, the increasing number of laparoscopic bariatric procedures, and technological advancements in laparoscopy. On the other hand, reduced Medicare payments to healthcare providers in the US and the dearth of trained professionals in laparoscopy are expected to restrain the overall market growth.
The COVID-19 pandemic has resulted in a global healthcare crisis, causing a shift in healthcare delivery in most regions. Surgeons and patients visiting hospitals for various treatments are at increased risk of contracting COVID-19. According to researchers at Indiana University, healthcare visits decreased by around 40% in the first six…