The global Insufflation Devices Market size is expected to reach USD 3.76 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.3% from 2021 to 2028. Increasing adoption of minimally invasive surgeries, rapidly aging population, and rising number of laparoscopic procedures are among the major factors driving this market’s growth.
The COVID-19 outbreakhas caused the global
implementation of strict measures to curbthe spread, which has led to the
cancelation/delayof elective surgeries, including many laparoscopic procedures
world wide. A large number of medical device manufacturing companies and global
suppliers have been adversely affected during this time. However, with the
abundance of deferred medical procedures in the pipeline, the market is likely
to rebound and grow significantly over the forecast period.
Obesity or overweight are major health concerns that
lead to a number of associated diseases or complications, such as diabetes and
cardiovascular diseases. As per the WHO, in 2016, over 1.9 billion adults were
overweight, out of which around 650 million people were obese and around 2.8
million people die each year as a result of being overweight/obese. Such
instances are expected to increase the demand for bariatric procedures and
other related surgeries, thereby propelling the market growth over the forecast
period.
Moreover, growing patient preference for minimally
invasive surgeries owing to the reduced risk and trauma associated with these
procedures is expected to strengthen the growth of this market. Additionally,
minimally invasive laparoscopic surgeries are increasingly being covered by
health insurance providers in selected countries. For instance, for
laparoscopic surgical operations, Medicare will cover up to 75% of the fee as
listed in the Medicare Benefits Schedule. These factors have led to an
increased preference for minimally invasive surgeries among patients.
Related Press Release @ Insufflation Devices Market Report
Insufflation Devices Market
Report Highlights
- Based on application, the laparoscopic surgery segment dominated
the market with a share of more than 35.0% in 2020
- On the basis of end use, the hospitals segment dominated the market
with a share of more than 60.0% in 2020
- North America dominated the market with a revenue share of over
35.0% in 2020 owing to the increasing number of laparoscopic procedures
and technological advancements
- In Asia Pacific, the market is anticipated to witness remarkable
growth over the forecast period due to the presence of a large patient
base suffering from chronic disorders and government initiatives for
minimizing risks during the treatment
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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