Single Port Approach to Surpass 20% of All Laparoscopic Procedures by 2014
WALTHAM, Mass., Dec. 1 /PRNewswire/ — According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, a perfect storm of groundbreaking product releases, patient benefits, and heightened physician interest have made the single-port laparoscopy market the next darling of minimally invasive surgery.
With more than 2 million laparoscopic surgeries performed each year in the US alone, the laparoscopy market provides significant opportunity for device manufacturers. MRG’s new US Markets for Laparoscopic Devices 2010 report finds that single-port laparoscopy will swiftly penetrate laparoscopic procedures over the next five years due to demand for the benefits of the technique. The procedure requires just one incision, which is typically made through the umbilicus, leaves no visible scarring and facilitates faster patient recovery with less pain.
“Established laparoscopic device competitors such as Covidien, Olympus Gyrus-ACMI, and Applied Medical were all actively marketing single-port access devices along with articulating hand instruments by the end of 2009; we also expect to see Ethicon Endo-Surgery focus more heavily on this market in the future,” says Tiffanie Demone, Senior Analyst at MRG. “Market shares will continue to be dynamic in coming years, however, due in part to smaller companies such as Novare Surgical, CambridgeEndo, and TransEnterix.”
These companies are heating up the competitive landscape through innovative product releases geared specifically to the single-port laparoscopy market. TransEnterix’ SPIDER system, for example, is expected to enter the US market in 2010, and offers an integrated surgical platform that makes single-port procedures easier for surgeons to learn and perform. By improving device integration and articulation, the movement surgeons make during single port surgery more closely resembles what’s required of them during traditional laparoscopy. While advanced devices for single-port surgery are individually much more expensive than traditional laparoscopic instruments — at an average of more than $400 for a single-port access device versus $45 to 70 for traditional access devices — the need for fewer devices will help ease monetary barriers to adoption.
In addition to covering single-port devices, MRG’s new report, US Markets for Laparoscopic Devices 2010, provides critical insight into emerging trends that will fuel market growth for internal closure devices, direct energy devices, access devices, gastric bands, hand instruments, suction/irrigation devices, insufflation devices, hand-assist devices, laparoscopes, and mechanical female sterilization devices. The report provides a complete breakdown of unit sales, average selling prices, and revenues by device type and includes five-year forecasts, up-to-date market shares, and in-depth qualitative insights.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResourcesInc.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(TM) projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
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SOURCE Millennium Research Group