Based on the latest Laparoscopic Devices market analysis by iData Research, there are over 2.5 million laparoscopic surgeries performed in the US every year. Laparoscopy remains one of the most common minimally invasive surgical techniques, providing benefits of faster patient recovery, shorter hospital stays, and fewer post-operative complications.
However, in the light of the COVID19 pandemic, a key market trend that threatens the long-term growth of laparoscopic surgeries is the increased adoption of robotic surgeries.
- Pre-COVID19 Laparoscopic Surgery Trends
- Increased Robotic Surgery Adoption
- Shifting Competitive Landscape
Pre-COVID19 Laparoscopic Surgery Trends
The total laparoscopic device market in the United States is primarily driven by growth in laparoscopic surgeries. In the past few years, laparoscopic surgeries have been growing steadily due to stable growth in hernia repair, nephrectomy, colectomy, and bariatric surgeries. The most commonly performed laparoscopic procedure by 2020 was cholecystectomy.
As the most popular form of minimally invasive surgery, laparoscopy continues to gain traction as an increasing number of surgeons continue to recommend this approach based on its notable clinical benefits. For many procedures that have been traditionally performed through open surgeries are now being performed using a laparoscopic approach.
Increased Robotic Surgery Adoption
A notable trend within the US laparoscopy market is a shift towards safer and less-invasive surgical approaches. For this reason, the number of robotic-assisted surgeries (RAS) is on a rise which is threatening the growth of laparoscopic surgeries. Robotic surgeries provide a more advanced approach by offering precise movement, advanced imaging, and the possibility of remote surgery.
The COVID19 pandemic is expected to improve the adoption rates of RAS. According to a recent study, robotic surgery can help improve the availability of in-patient care for COVID patients by reducing the number of patients requiring urgent complex-oncological-surgeries. When compared to laparoscopies and open surgeries, robotic surgeries do not only limit the exposure of medical staff to bodily fluids and surgical gases but also limit the number of staff involved.
However, the adoption of RAS is primarily limited by the high cost associated with the use of capital equipment. For this reason, many healthcare facilities are reluctant to invest in new technology. Robotic surgeries also require continuous medical training in order to achieve better clinical outcomes and minimize complications, which also adds to the total cost of utilizing the equipment.
Thus, as technological advancements continue to emerge and become more accessible, robotic surgeries are expected to become more widely adopted and limit the growth of laparoscopic surgeries in the long run.
Shifting Competitive Landscape
The adoption of robotic surgeries is also forcing manufacturers to develop integrated solutions that can be used in both robotic and conventional minimally-invasive approaches.
For example, Medtronic, the leading competitor in the US laparoscopy market, is planning to become a strong player within the robotic surgery market. To achieve that, Medtronic completed an acquisition of an Israel-based Mazor Robotics for approximately $1.7 billion in 2018. In September 2019, Medtronic, in a collaboration with Karl Storz, finally announced the release of the robotic-assisted surgical platform. This integrated solution comprises Karl Storz’s 3D imaging systems and Medtronic’s surgical platform.
The second leading competitor in the overall laparoscopic device market is Ethicon. The company has a long history in the suture market with the development of sterile suture nearly a century ago. Along with Covidien, Ethicon was one of the pioneer developers of the surgical staplers, emerged in the 1960s. In September 2019, Ethicon launched ECHELON CIRCULAR™ powered stapler indicated for colorectal, gastric and thoracic laparoscopic surgeries.
Currently, the leading shares of both companies are threatened by the growing robotic surgery segment, represented by Intuitive Surgical. In September 2018, the company received U.S. FDA clearance for the SureForm® 60, a single-use fully wristed 60mm stapler. The company’s Da Vinci Stapling portfolio includes the EndoWrist® staplers 30 and 45 and the SureForm® 45 and 60 models.
Further adoption of laparoscopic surgeries is considered as a continuing trend towards a less invasive surgical approach, which emerged to address complications and improve the outcomes of open surgery.
As the trend continues and the physicians look for ways to minimize the spread of COVID19, the robotic surgery market is expected to witness accelerated growth and threaten the growth of the laparoscopy market in the long term. Additionally, the competitive landscape is changing within the laparoscopy space as device manufacturers, such as Medtronic and Ethicon, aim to gain a part of the newly emerging market.
Overall, a recent market study by iData Research considers the adoption of robotic surgeries as one of the key driving and limiting factors across the entire laparoscopy market in the United States.
For Further Information
This recent development presents interesting implications for the future of the laparoscopic surgery market. iData Research’s Laparoscopic Devices Market Report | United States | 2020-2026 | MedSuite report contains a detailed market analysis, including procedural volumes and competitive overview. Feel free to request your complimentary research summary!