Singapore Laparoscopic Devices Market Size & Outlook
Singapore laparoscopic devices market, 2018-2030 (US$M)
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Singapore laparoscopic devices market highlights
- The Singapore laparoscopic devices market generated a revenue of USD 98.7 million in 2023 and is expected to reach USD 158.6 million by 2030.
- The Singapore market is expected to grow at a CAGR of 7% from 2024 to 2030.
- In terms of segment, energy systems was the largest revenue generating product in 2023.
- Robot Assisted Systems is the most lucrative product segment registering the fastest growth during the forecast period.
Laparoscopic devices market data book summary
| Market revenue in 2023 | USD 98.7 million |
| Market revenue in 2030 | USD 158.6 million |
| Growth rate | 7% (CAGR from 2023 to 2030) |
| Largest segment | Energy systems |
| Fastest growing segment | Robot Assisted Systems |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Laparoscopes, Energy Systems, Trocars, Closure Devices, Suction/ Irrigation Device, Insufflation Device, Robot Assisted Systems, Hand Access Instruments |
| Key market players worldwide | Karl Storz, Medtronic PLC, Johnson & Johnson, Olympus Corp, B. Braun, The Cooper Companies Inc, Richard Wolf, Hoya Corp, BD, Welfare Medical, DEAM, Intuitive Surgical Inc |
Other key industry trends
- In terms of revenue, Singapore accounted for 1.3% of the global laparoscopic devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China laparoscopic devices market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 452.8 million by 2030.
Energy systems was the largest segment with a revenue share of 24.52% in 2023. Horizon Databook has segmented the Singapore laparoscopic devices market based on laparoscopes, energy systems, trocars, closure devices, suction/ irrigation device, insufflation device, robot assisted systems, hand access instruments covering the revenue growth of each sub-segment from 2018 to 2030.
Rising incidence of cancer is a major factor driving market growth in Singapore. According to a report published by the National Cancer Center Singapore, about 1 in every 4 to 5 people in Singapore are likely to develop cancer in their lifetime.
In addition, from 2011 to 2015, colorectal cancer was the most common cancer in men in the country, and about 17.2% of the total population was suffering from colorectal cancer in 2015. These factors are expected to boost demand for laparoscopic colorectal surgeries in Singapore, thereby, propelling market growth during the forecast period.
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Laparoscopic Devices Market Scope
Laparoscopic Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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Singapore laparoscopic devices market size, by product, 2018-2030 (US$M)
Singapore Laparoscopic Devices Market Outlook Share, 2023 & 2030 (US$M)
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