U.S. Laparoscopic Device Market Will Reach
Over $4.3 Billion By 2023
Decision Resources Group projects that the laparoscopic device market in the U.S. will increase to a value of over $4.3 billion by 2023.
Growth will be primarily driven by expansion in the large direct energy
device market. In particular, premium-priced advanced direct energy
devices will be increasingly adopted due to the advantages they offer and
as new products are launched.
Other key findings:
Internal closure devices on the rise: The direct energy device
market will surpass the internal closure device market to become the
largest laparoscopic device segment by 2019. Internal closure device
revenues have been limited by the increasing commoditization and
reprocessing of these products. Furthermore, the uptake of direct
energy devices has limited demand for clip appliers, which represent
a large proportion of internal closure device revenues.
Laparoscopic morcellators significantly impacted: The laparoscopic
morcellator market has been significantly negatively impacted by a cam-
paign from a U.S. doctor, claiming that morcellation increases the likeli-
hood of uterine cancer spreading undetected.
In April 2014, the U.S. Food and Drug Administration supported this
claim by issuing a release discouraging the use of laparoscopic morcellation. In response, Ethicon exited the market in July, and procedure
volumes have declined sharply.
Gastric band market declining: Although Apollo Endosurgery intended to revitalize gastric banding after acquiring the LAP-BAND product
line from Allergan, the gastric band market will continue to decline
through 2023. Sleeve gastrectomy will continue to replace gastric banding due to better patient outcomes and its lower long-term costs.
"The adoption of premium-priced devices will continue to support revenues in the U.S. laparoscopic device market. Hospitals have demonstrated
that they are willing to pay more for many types of specialized laparoscopic
devices, like advanced direct energy devices such as the Enseal G2 and the
Harmonic Ace+Shears, which offer advantages over their traditional counterparts,” said Decision Resources Group Senior Analyst Manya Aggarwal.