Single-Port Laparoscopy To Double Over The Next Year
According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, a combination of increased volume from current practitioners and growth in the number of surgeons performing the technique will drive the single-port laparoscopy market to over 100% growth over the next year, and to high double-digit growth past 2011. Surgeons who currently perform single-port surgery are forecasting a 40% increase in their volumes within the next 6 months, while over 50% of non-practitioners anticipate adopting the technique within the next two years.
MRG's data show a number of factors are driving the rapid rise in single-port laparoscopy, including growing patient awareness, novel devices, and increased surgeon experience. 75% of physicians see single-port laparoscopy as generally unknown in the general public, leaving significant room to drive more patient demand. In addition, importance score data suggest that new devices -- with improved ergonomics, range of motion, and diversity of tips -- are a critical factor in convincing skeptical surgeons to try the procedure. Finally, current practitioners are becoming more comfortable with the technique and are implementing it in new procedures and more difficult cases.
"Single-port lap is the hottest topic in surgery these days," says Matthew Runnalls, Physician Forum Product Manager. "Our data shows that not only are current users expecting huge procedure growth in just the next 6 months, but that potential adopters are waiting for new devices -- not new data -- before they jump into the fray. This is a tremendous opportunity for device companies."
The single-port laparoscopy market is currently dominated by Covidien, both in the access port and articulating instrument segment. MRG's new data suggest that there is still tremendous room for innovation in the market. Covidien's momentum will allow the company to maintain a dominant position for the near future, as long as it continues its aggressive product development. Nonetheless, new competitors from both traditional laparoscopy markets and new start-ups are challenging the market leader with innovative products.
MRG's new Physician Forum publication, The Rise of Single-Port Laparoscopy, investigates physician opinion from 60 current users of single-port laparoscopy and 100 potential adopters. The publication also includes a newly updated and more detailed forecast for the single-port laparoscopy market.
Webinar On Wednesday, October 20, at 11:00 am eastern time, MRG is offering a complimentary webinar with the author of The Rise of Single-Port Laparoscopy, Product Manager Matthew Runnalls. Mr. Runnalls will present an overview of findings from MRG's new study and host a brief Q&A session. Contact Amy Krohn at 416-364-7776 ext. 101 or email@example.com to register.