The global laparoscopy device market is expected to reach $12.3 billion by 2019, growing at a compound annual growth rate of 7.1 percent from 2013 to 2019. In 2012, the market was valued at $7.5 billion.

The market is being driven by the fact that the devices allow for quicker recoveries and shorter hospital stays. Recent advancements have made laparoscopic technology easier to operate and more ergonomic.

The devices can be used in general, bariatric, colorectal, urological and gynecological surgeries. However, the devices are most commonly used in bariatric surgery due to the increasing prevalence of obesity worldwide. The amount of cholecystectomy surgeries conducted with laparoscopes is also increasing.

The laparoscopy device market includes laparoscopes, irrigation systems, insufflation devices, trocars, sample retrieval bags, wound protectors, internal closure devices, gastric bands, hand-assist devices and energy systems. The energy devices segment in particular is anticipated to be the fastest growing in the market due to the replacement of traditional monopolar energy systems with advanced bipolar energy devices and more efficient ultrasonic energy systems.

North America and Europe currently make up most of the market and it's expected to stay that way from 2013 to 2019.

But Latin America and Asia-Pacific regions are expected to be the more profitable markets in the future. A large patient base, increasing disposable income, growing health care infrastructure and a high prevalence of diseases will drive those markets.

The major players in the market are Ethicon Endo-Surgery, Inc., Olympus Corporation of the Americas, Covidien Ltd., Intuitive Surgical, Inc., Boston Scientific Corporation, Stryker Corporation, Smith & Nephew plc, Karl Storz Endoskope, Aesculap USA and ConMed Corporation.

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