Artificial Intelligence
Laparoscopic Devices Market Size to Grow at a 7.1% CAGR by 2033: Fact.MR Study
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Rockville, April 25, 2023 (GLOBE NEWSWIRE) — The use of laparoscopic devices is expanding due to the growing desire for minimally invasive operations to reduce hospital stay, discomfort, and other consequences. As a result, overall sales of laparoscopic devices are expected to reach US$ 15.3 billion, with a 7.1% CAGR throughout the projection period (2022-2032). The global laparoscopic devices market is expected to be worth $7.8 billion in 2022, with sales increasing by 1.9x between 2022 and 2032.
Furthermore, as people with obesity become more conscious of the importance of physical fitness, the number of laparoscopic operations such as bariatric surgeries is increasing. This is expected to boost laparoscopic gadget sales.
In addition, important firms are incorporating robots, artificial intelligence, and machine learning into laparoscopic devices to do difficult procedures. This is projected to provide the market with numerous prospects for expansion.
Furthermore, growing worries about scarring after surgery are pushing the preference away from traditional surgical approaches and towards laparoscopy. This is expected to boost sales in the future years.
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| Laparoscopic Devices Market Scope | |
| Report Coverage | Details |
| Historic period | 2017-2021 |
| Forecast period | 2022-2032 |
| Growth momentum & CAGR | Accelerate at a CAGR of 7.1% |
| Market structure | Fragmented |
| Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
| Key countries | US, Canada, UK, France, and Germany |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Subsequently, increasing prevalence of uterine fibroids and endometriosis among women is surging the need of laparoscopic surgeries to avoid risks of infection. Backed by this, the use of laparoscopic devices is likely to increase over the coming years.
Key Takeaways:
- In terms of end user, hospitals segment held nearly 72% of the overall market share in 2021.
- By product type, energy systems segment is estimated to hold maximum share in the market, expanding at 8.5% CAGR until 2032.
- Based on application, general surgery segment is expected to dominate the market, registering 7.3% CAGR during the assessment period.
- North America is estimated to spearhead the growth in laparoscopic devices market, creating an absolute $ opportunity of US$ 2.5 Bn.
- In 2021, the U.S. held nearly 83% of demand share in North America market and the trend is likely to continue over the coming years.
Growth Drivers:
- Adoption of laparoscopic procedures to treat lifestyle diseases such as obesity, gall bladder-related problems, and diverticulitis will boost the market.
- Growing preference for minimally invasive surgeries for reduced hospitals stay, low pain, and minimal bleeding is increasing the demand in the market.
Restraints:
- Lack of skilled surgeons in underdeveloped regions might hamper the growth in the market.
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Competitive Landscape:
Key players profiled in the global laparoscopic devices market are integrating innovative technologies in laparoscopic devices to gain competitive edge. Some of the players are adopting new market strategies such as joint ventures, collaborations, and acquisitions to strengthen their global footprint.
For instance,
- September 2021: Olympus Corporation introduced the POWERSEAL line, which are innovative bipolar surgical energy tools that provide surgeons with an advanced dissection, sealing, and gripping capabilities during laparoscopic or open surgeries.
- April 2021: Genesis MedTech entered into a joint venture agreement with LivsMed, for commercialization of the ArtiSential product line in Singapore and China.
Key Companies Profiled by Fact.MR
- Karl Storz SE & CO. Kg
- BD
- Medtronic
- Stryker Corporation
- Johnson and Johnson
- Olympus Corporation
- B. Braun Melsungen AG
- Richard Wolf GmbH
- Shenzen Mindray Bio Medical Electronics Co., Ltd.
- The Cooper Companies Inc.
- CONMED Corporation
- Microline Surgical
- Intuitive Surgical
- Welfare Medical Ltd.
- DEAM
Market Segments Covered in Laparoscopic Devices Industry Analysis
- By Product Type:
- Trocars
- Energy Systems
- Closure Devices
- Suction / Irrigation Devices
- Insufflation Devices
- Laparoscopes
- Hand Access Instruments
- Robot-assisted System
- By Application:
- Bariatric Surgery
- Colorectal Surgery
- General Surgery
- Gynaecological Surgery
- Urological Surgery
- Others
- By End-use:
- Hospitals
- Clinic
- Ambulatory
- By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
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Key Questions Covered in the Laparoscopic Devices Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Laparoscopic Devices sales grow until 2033?
- Which are the factors hampering the Laparoscopic Devices demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Laparoscopic Devices Market during the forecast period?
Check out more related studies published by Fact.MR Research:
Laparoscopic Needle Holder Robotic Devices Market: Laparoscopy is the minimal-invasive surgery which is carried out by specialized technique to do an incision in skin. In past this surgery was carried out for gynecologic surgery and gall bladder surgery. Various laparoscopic procedures involve the cutting and stitching of internal tissue. Robotic-assisted surgery is one of the latest of the innovations in the field of minimally invasive surgery.
Laparoscopic Sutures Market: The laparoscopic procedure is performed using video laparoscopes, which allows the surgeons to have a view of the organs in the body. Minimally invasive surgeries have advantages such as less blood blood loss because of the small incisions and occurrence of less pain, which is expected to increase the growth of laparoscopic sutures market.
Electrosurgery Devices Market: The global electrosurgery devices industry reached US$ 5.20 Billion in valuation as of FY 2021. The market is projected to be valued at US$ 5.40 Billion in 2022. Across the 2022-2032 forecast period, the market is scheduled to embark on a positive trajectory, registering a CAGR of 4% to reach US$ 8 Billion.
Plastic Surgery Scaffold Market: The increasing effectiveness of properly designed biodegradable scaffolds in facilitating regeneration and repair of stromal tissues has been one of the key growth contributors of growth of plastic surgery scaffold market. Over the past few years, a vast variety of synthetic and semi-synthetic scaffolds have been developed, which has immensely contributed to the rising vigor of plastic surgery scaffold.
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Artificial Intelligence
atNorth Shortlisted for Datacloud Global Awards, The Energy Awards and The Women in Green Business Awards
The leading Nordic data center business achieves multiple new accolades.
REYKJAVÍK, Iceland, May 10, 2024 /PRNewswire/ — atNorth, the leading Nordic colocation, high-performance computing, and artificial intelligence service provider, today announced widespread industry recognition including shortlisting’s in the `Excellence in Data Centre Europe Award 2024′ category at the Datacloud Global Awards and the `Energy Efficient Partnership of the Year’ category at the Energy Awards.
The Datacloud Global Awards celebrate excellence in the data center and cloud industry, recognizing outstanding achievements, innovation, and leadership across various categories. From pioneering technology solutions to sustainable practices, these awards highlight the trailblazers and visionaries driving the digital transformation landscape forward.
atNorth’s continuous commitment to developing the most advantageous solutions for its clients has led the business to be recognized for its efforts in energy efficiency, data center excellence and as a leader in the data center industry.
Additionally, atNorth’s CFO & Deputy CEO, Eva Sóley Guðbjörnsdóttir has been shortlisted in the `Diversity and Inclusion Champion of the Year’ category at the Women in Green Business Awards, illustrating the commendable ethos of atNorth’s business as a whole, as it champions fairness and the greater good – both internally and at the core of its service provision.
“We are delighted to be acknowledged in a variety of categories across multiple awards,” says Eva Sóley Guðbjörnsdóttir, CFO & Deputy CEO, at atNorth. “As we remain committed to our vision of `more compute for a better world’, this recognition inspires us to continue to advocate for best practice within our business and the industry as a whole.”
The news follows atNorth’s recognition in TechRound’s Sustainability60 campaign, at the UK Green Business Awards and the Tech Capital Awards. The business has also recently announced Anna Kristín Pálsdóttir as Chief Development Officer and Jörgen Larsson as Director of Hyperscale Operations as the business continues to scale to meet the increasing demand for its services.
About atNorth
atNorth is a leading Nordic data center services company that offers sustainable, cost-effective, scalable colocation and high-performance computing services trusted by industry-leading organizations. The business acquired leading High-Performance Computing (HPC) provider, Gompute, in 2023 enabling a compelling full stack offering tailored to AI and other critical high-performance workloads.
With sustainability at its core, atNorth’s data centers run on renewable energy resources and support circular economy principles. All atNorth sites leverage innovative design, power efficiency, and intelligent operations to provide long-term infrastructure and flexible colocation deployments. The tailor-made solutions enable businesses to calculate, simulate, train and visualize data workloads in an efficient, cost-optimized way.
atNorth is headquartered in Reykjavik, Iceland and operates seven data centers in strategic locations across the Nordics, with additional sites to open in Helsinki, Finland and in Denmark in Q4 2024, as well as its tenth site ready for operation in Kouvola, Finland in 2025.
For more information, visit atNorth.com or follow atNorth on LinkedIn or Facebook.
Press Contact:Caroline BruntonKite Hill PR for atNorth+44 (0) 7796 274 [email protected]
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Artificial Intelligence
ProofID wins Judges’ Award for Global Ambition at the 2024 Northern Tech Awards
MANCHESTER, England, May 10, 2024 /PRNewswire/ — UK-headquartered, global Identity and Access Management (IAM) specialist, ProofID has won the Judge’s Award for Global Ambition at the Northern Tech Awards held at Manchester Cathedral. The company won the award in recognition of its expansion in the USA following the successful acquisitions of Regatta Solutions an Austin, Texas based Identity Governance and Administration (IGA) integrator and PEGRight a Colorado Springs, Colorado based IAM integrator.
These two acquisitions created a combined business which leads the field as a provider of enterprise identity solutions and global identity managed services across Europe and North America. The awards, organised by GP Bullhound, are a demonstration of the spirit of innovation, resilience, and growth that defines the Northern tech ecosystem.
Tom Eggleston, CEO of ProofID said: “ProofID has always embraced its northern roots, but it’s been an exciting road.”
“Our journey to the international stage continues and reflects not only our ambition to grow via acquisition but also our ability to adapt, innovate and thrive in other territories. It’s truly wonderful for our work to be recognised in this way.”
In 2022, Maven invested £15 million through the Maven UK Regional Buyout Fund to support ProofID’s growth and strategic expansion. Since then, the company has continued to develop its partnerships with IAM vendors, offering broader solutions and enhancing its market position.
The award, accepted by Peter Dolan, CFO of ProofID, is held to showcase leading tech businesses in the North, fuelling growth in its powerful tech economy. The eleventh edition of the Northern Tech Awards ceremony, brought together 250 CEOs, entrepreneurs, and business leaders from across the digital economy, celebrating innovation and excellence in the North of England and Scotland.
Javed Huq, Managing Director of sponsor, GP Bullhound said: “Congratulations to all the winners of the 2024 Northern Tech Awards.
“Their success is a testament to the remarkable determination and entrepreneurship, which have enabled their businesses to thrive in a challenging market landscape.
“We are immensely proud of the dedication and innovation within the Northern tech ecosystem and believe it is important to celebrate these achievements at tonight’s awards. We are honoured to champion these leading tech businesses and look forward to their continued growth and contribution to the UK economy.”
About ProofID
ProofID is a global identity security partner, integrator and service provider. As a proven identity specialist, ProofID is committed to delivering pain-free, secure and seamless digital user experiences however complex the project. Trusted by Tier 1 enterprises and mid-market businesses around the world to design, deliver and manage IAM and IGA services. ProofID has successfully deployed industry leading technologies into all market sectors with dynamic workforce needs and seamless customer engagements. ProofID’s highly skilled team has been awarded the highest technical accreditations by all their chosen partners including Ping Identity, earning Global Delivery Partner of the Year Award for 6 consecutive years and SailPoint, achieving delivery Admiral status. For more information visit www.ProofID.com.
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Artificial Intelligence
Northern Data Group’s Peak Mining announces new partnership for 28MW of mining, powered by 100% renewable energy
28MW of miners delivering 1.3 EH/s, strategically located in Paraguay2,860 units of MicroBT’s M63-series liquid-cooled WhatsMiners to be installedPower rate of sub $0.04/kWh, generated by 100% renewable hydropowerFRANKFURT, Germany , May 10, 2024 /PRNewswire/ — Northern Data Group’s Peak Mining today announces a new partnership with Penguin Infrastructure Holding (“Penguin”) for 28MW of mining capacity. This project represents a significant next step in Northern Data Group’s geographical expansion and enables Peak Mining to increase its hashrate, powered by 100% renewable energy.
The hardware will be energized in H2 2024 and marks Peak Mining’s first step into South America. 2,860 units of MicroBT’s M63-series liquid-cooled WhatsMiners will be installed at the site. The hardware will generate 1.3 EH/s, contributing to Peak Mining’s planned growth to 7.9 EH/s this year.
The site in Paraguay is 100% powered by renewable hydropower harnessed from the 14 GW Itaipu Dam, it is the world’s third-largest hydroelectric dam. The site will therefore benefit from the availability of clean energy.
This expansion into South America follows Peak Mining’s recent purchase of a 300MW mining data center site in Corpus Christi, Texas, which will power around 4.2 EH/s of MicroBT’s miners as well as the construction of a 30MW facility in Grand Forks, North Dakota, which will support approximately 1.1 EH/s of the miners.
This selection of sites underscores Northern Data Group’s commitment to meet the demands of the industry as efficiently as possible. Throughout 2024, Northern Data Group will be rapidly expanding its HPC footprint.
Aroosh Thillainathan, Northern Data Group’s Chief Executive Officer, commented:
“This partnership is significant to Northern Data Group as we continue to execute on our investment strategy and solidify our position within the global High Performance Computing market, and I’m especially pleased to be working with Penguin, given the team’s impressive sustainability standards at this site. It is Peak Mining’s first expansion into South America and is another milestone for the company as it continues to scale its international Bitcoin mining capabilities.”
Niek Beudeker, Managing Director, Peak Mining, commented:
“I’m pleased to partner with Penguin to expand our mining capacity to Paraguay. The Penguin team has done a tremendous job in constructing the site and building a strong local team. This agreement, structured as a partnership, will allow for better alignment of both parties than with a standard hosting arrangement. The partnership demonstrates our commitment to leveraging 100% clean energy to meet growing industry demand, efficiently”.
Björn Schmidtke, CEO at Penguin Group, commented:
“This strategic alliance with Northern Data Group strengthens our position as a leader in hosting next-generation High Performance Computing and also allows us to strengthen our capabilities and expand our offerings in cutting-edge areas such as AI compute. We are committed to advancing in this constantly accelerating world, which demands more high-quality services to keep evolving.”
About Peak Mining
Peak Mining, part of the Northern Data Group, is powering the future of the Bitcoin network. We deliver industry-leading operating and energy efficiency in Bitcoin mining through the latest hardware alongside innovative technology and HPC infrastructure. With our heritage dating back to 2013, we’ve been innovating for over a decade and have been at the forefront of the industry ever since. Our high-quality infrastructure is purpose-built to secure the Bitcoin network, and we’re driven to continuously find new efficiencies driving value for our investors. We’re delivering long term value in more responsible ways.
About Penguin
Penguin Group is at the forefront of HPC and cloud services powered by fully renewable hydro power in South America. Its core value is the mission to Transform Energy into Human Potential. This mission is achieved through Penguin Academy, a revolutionary education concept where students ‘learn by doing’ and has already trained thousands of young people to become the next generation of tech talent. Penguin aims to transform Paraguay into the Technological Hub of South America and expand their concept and mission globally.
About Northern Data Group
Northern Data Group (ETR: NB2) is a leading provider of High Performance Computing (HPC) solutions, utilizing GPU- and ASIC-technology. Our flexible compute power fuels innovation in our three core business platforms: Taiga Cloud, Ardent Data Centers, and Peak Mining. Through our HPC solutions, we pioneer ambitious computing innovation that drives progress in the AI, ML and Generative AI industries. Our close collaboration with industry-leading manufacturers including Gigabyte, AMD, and NVIDIA is fundamental to the acceleration of innovation across sectors including life sciences, financial services, and energy.
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