Suture Laparoscopic Forceps Market Report 2024

Where is the largest and fastest growing market for suture laparoscopic forceps? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more. The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The suture laparoscopic forceps market size has grown strongly in recent years. It will grow from $2.12 billion in 2023 to $2.26 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth observed during the historic period can be attributed to several factors, a rising number of laparoscopic surgeries, increasing demand for minimally invasive procedures, greater adoption of laparoscopic techniques, and an overall growth in surgical procedures.

The suture laparoscopic forceps market size is expected to see strong growth in the next few years. It will grow to $2.89 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The anticipated growth during the forecast period can be attributed to several factors, a rising preference for minimally invasive surgeries among healthcare professionals and patients, increased demand for suture laparoscopic forceps, growing consumer awareness, a higher incidence of conditions treated with laparoscopic surgery, and a greater number of minimally invasive procedures. Key trends expected to influence this period include innovations in forceps design, technological advancements, significant collaborations, mergers and acquisitions, expansion of healthcare infrastructure, and a rise in outpatient surgeries.

The anticipated increase in surgeries is set to drive the growth of the suture laparoscopic forceps market. This surge in surgeries is largely attributed to advancements in medical technology, such as minimally invasive techniques such as laparoscopy, which offer quicker recovery times, shorter hospital stays, and better patient outcomes compared to traditional open surgeries. Suture laparoscopic forceps are essential in these procedures for the precise manipulation and placement of sutures within the body, minimizing tissue damage and facilitating faster recovery. For example, in May 2024, the Government of British Columbia reported completing 365,825 surgeries, both scheduled and unscheduled, including 284,844 scheduled procedures. This number represents an increase of 24,380 compared to the same period in 2019-20 and is 14,939 more than in 2022-23. This rising number of surgeries is contributing to the growth of the suture laparoscopic forceps market.

The increasing prevalence of chronic diseases is also expected to drive the growth of the suture laparoscopic forceps market. Factors such as aging populations, unhealthy lifestyles, and improved diagnosis are contributing to the rise in chronic conditions globally. Suture laparoscopic forceps are crucial for managing these diseases through minimally invasive surgeries, which allow for precise tissue manipulation and suturing, thereby reducing recovery time. For instance, a report by the American College of Cardiology in August 2022 projected a significant rise in major cardiovascular risk factors in the United States from 2025 to 2060. Diabetes is expected to increase by 39.3%, affecting 55 million individuals, followed by dyslipidemia (27.6% increase to 126 million), hypertension (25.1% increase to 162 million), and obesity (18.3% increase to 126 million). Additionally, cardiovascular diseases such as stroke, heart failure, ischemic heart disease, and heart attack are also expected to see significant increases. This growing prevalence of chronic diseases is boosting the demand for suture laparoscopic forceps.

In June 2023, Steris plc, a medical equipment company based in Ireland, acquired surgical instrumentation assets from Becton Dickinson and Company for $540 million. This acquisition is intended to expand Steris' product portfolio and manufacturing capabilities in surgical instrumentation to better serve hospitals and surgery centers. Becton Dickinson and Company, a US-based provider of suture laparoscopic forceps, was the company involved in this transaction.

Major companies operating in the suture laparoscopic forceps market are Johnson & Johnson, Medtronic plc, Stryker Corporation, Boston Scientific Corporation, Olympus Corporation, B. Braun Medical Ltd, Teleflex Incorporated, ConMed Corporation, Applied Medical Resources Corporation, Ackermann Instrumente GmbH, Zhejiang Geyi Medical Instrument Co. Ltd, Sklar Instruments, Purple Surgical International Ltd., Mediflex, Microline Surgical Inc., LaproSurge Ltd., Maxer Endoscopy GmbH, Victor Medical Instruments Co. Ltd., Hospiinz International, Grena Ltd.

North America was the largest region in the suture laparoscopic forceps market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the suture laparoscopic forceps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the suture laparoscopic forceps market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Suture laparoscopic forceps are specialized instruments used in minimally invasive laparoscopic surgeries to handle, manipulate, and secure sutures within the abdominal cavity. These forceps enable surgeons to perform precise suturing through small incisions, which helps to reduce patient recovery time and minimize surgical trauma.

The main types of suture laparoscopic forceps are reusable and disposable. Reusable forceps are designed to be sterilized and used multiple times, typically made from durable materials such as stainless steel or titanium. They come in various lengths, including short and long, and are used in laparoscopic surgeries and other applications. These forceps are suitable for both adult and pediatric patients.

The suture laparoscopic forceps market research report is one of a series of new reports that provides suture laparoscopic forceps market statistics, including suture laparoscopic forceps industry global market size, regional shares, competitors with a suture laparoscopic forceps market share, detailed suture laparoscopic forceps market segments, market trends and opportunities, and any further data you may need to thrive in the suture laparoscopic forceps industry. This suture laparoscopic forceps market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The suture laparoscopic forceps market consists of sales of grasping forceps, dissecting forceps, and needle holder forceps. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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