Medtech Market Intelligence company Millennium Research Group (MRG), has launched a new report which looks into the future for laparoscopic surgery devices in the United States. MRG believes the market will see moderate growth, culminating with a market value of $4.5 Billion by 2022.
The catch-all that is laparoscopic surgery, has become routine over recent decades, but MRG reckons there is still room for further adoption of minimally invasive techniques that can offer faster recovery, less postoperative pain and better cosmetic results compared to open surgery. However, while companies strive to take laparoscopic surgery to the next level, it seems not all ventures are succeeding. One example MRG’s report cites is that of single port laparoscopic surgery, pioneered on the basis of its promise to deliver better outcomes. It seems randomised clinical trials have yet to provide much support for such claims. This, coupled with the higher cost of single port procedures, leads MRG to project a decline of 12% per annum in sales of single port instrumentation.
Whether the same will be true in robotically assisted laparoscopy is another matter. There’s no doubt the adoption of, for example, Intuitive Surgical’s daVinci system has been rapid over the past few years, but doubts remain about both its comparative efficacy and its cost-effectiveness, as we’ve reported recently. Nonetheless, MRG’s report talks of robotically assisted laparoscopic procedures gaining in popularity, especially in Urology and Gynecology.
So where does MRG see the biggest growth coming from? Well, two main areas stand out. MRG says both the advanced direct energy device and hand-assist device markets will both see growth of around 7 percent. It’s almost paradoxical that Hand-assist laparoscopy, which involves insertion of the surgeon’s hand into the operative space, should be growing, given the years of striving towards smaller and fewer incisions, but MRG tells us that clinical support is driving this growth, no doubt fuelled by device manufacturers making increased efforts to better train physicians in the use of their devices. Similarly, the advanced direct energy device market is seeing strong uptake of premium-priced devices; these products offer clinical benefits as well as the potential for reductions in time spent in the operating room.
“Despite the uptake of premium products in some segments, lingering cost concerns will impact US facilities and the laparoscopic device market as a whole,” said MRG Analyst Manya Aggarwal. “Throughout US hospitals, there is a strong emphasis on reducing per-procedure costs through the use of reusable, reposable and reprocessed devices, when available. Although manufacturers are able to generate higher per-procedure revenues through the sale of disposable devices, companies risk losing clients if they do not also offer multi-use products in an effort to appeal to cost-conscious facilities.”
MRG’s US Markets for Laparoscopic Devices 2014 report looks like a comprehensive affair. It includes unit, procedure, average selling price and revenue information, along with market drivers and limiters and a competitive landscape for access devices, direct energy devices, internal closure devices, hand instruments, hand-assist devices, suction/irrigation devices, insufflation devices, laparoscopes, gastric bands, laparoscopic morcellators and laparoscopic single-port devices in the United States.
Find more, including purchasing information, here.
Source: Millennium Research Group, PR Newswire