US Laparoscopic Device Market to Grow Moderately to Nearly $3.6 Billion by 2017 Growth Driven by Increasing Demand for Minimally Invasive Procedures, According to Millennium Research Group PR Newswire TORONTO, Jan. 14, 2013 TORONTO, Jan. 14, 2013 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the United States market for laparoscopic devices will grow moderately, reaching a value of $3.59 billion by 2017. Growth will come largely from expanding procedure volumes, as the demand for minimally invasive techniques continues to grow. Direct energy, hand assist and single-port devices will grow most quickly. (Logo: http://photos.prnewswire.com/prnh/20130103/MM36799LOGO) Laparoscopic procedures will grow significantly faster than open surgeries through 2017 as surgeons continue to take advantage of the patient benefits of laparoscopic techniques, such as faster recovery, less post-operative pain, and better cosmetic results. Bowel resections will be the fastest growing laparoscopic procedure, followed by sleeve gastrectomies and hernia repairs. Sleeve gastrectomies will grow at the expense of gastric banding, which has suffered from safety and efficacy concerns. Single-port procedures will grow strongly, driven by uptake in high-volume procedures such as cholecystectomies and appendectomies. These are procedures where surgeons are either extremely experienced with laparoscopic techniques, or where the anatomy lends itself to straightforward access from the umbilicus. Robotic techniques will also show strong adoption in urological and gynecological procedures, particularly in prostatectomies, partial nephrectomies and hysterectomies. "Outside of these growth segments, there is a strong emphasis on cost cutting," said MRG Analyst Chantal Dougan. "Reusable and reposable products have taken ground from disposable products, particularly in the access device and hand instrument segments. While disposable products generate higher per-procedure revenues, over the next few years the conversion to reusable devices will aid revenues, as facilities invest in entire sets of reusables." CareFusion, Solos Endoscopy and Integra LifeSciences all launched modular reusable hand instruments in 2012 to combine convenience with cost-savings. Millennium Research Group's US Markets for Laparoscopic Devices 2013 report includes unit, installed base, average selling price and revenue information, along with market drivers and limiters and competitive landscape access devices, direct energy devices, internal closure devices, hand instruments, hand-assist devices, suction/irrigation devices, insufflation devices, laparoscopes, gastric bands and laparoscopic single-port devices sold in the United States. About Millennium Research Group Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions. About Decision Resources Group Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com. All company, brand or product names contained in this document may be trademarks or registered trademarks of their respective holders. For more information, contact: Christopher Comfort Alex Jablokow Decision Resources Group Millennium Research Group 781-993-2597 617-599-8613 firstname.lastname@example.org email@example.com SOURCE Millennium Research Group Website: http://www.mrg.net
US Laparoscopic Device Market to Grow Moderately to Nearly $3.6 Billion by 2017
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